ASX Weekly Roundup — 09 Mar to 13 Mar 2026
Weekly summary of the most significant bullish and bearish ASX announcements for the week of 09 Mar to 13 Mar 2026, focusing on shorted stocks.
ASX Market Roundup: March 9th - 13th, 2026 – A Week of Highs and Lows as Sentiment Shifts
This week on the ASX, a palpable tension gripped the market. While several announcements delivered genuinely bullish signals, particularly around resource plays, a stark warning shot was fired with the administration announcement for TasFoods, injecting a hefty dose of caution into investor sentiment. It felt like a classic risk-on/risk-off scenario played out in real time – big wins tempered by significant potential losses, leaving many investors scrambling to reassess their positions and adjust their strategies accordingly. The short interest data painted a compelling picture of growing conviction on the downside for several key players, adding further fuel to the volatile atmosphere.
Bullish Signals
ASX:AT4 – American Tungsten Ordinary
American Tungsten’s announcement regarding the maiden drilling results at its Antimony Canyon Project in Utah was nothing short of electrifying. The discovery of high-grade antimony mineralization – intercepts exceeding even optimistic exploration target assumptions – has completely rewritten the narrative surrounding this company. This isn't just a minor extension to an existing deposit; we’re talking about a potentially substantial resource, particularly given its proximity to the globally significant Xikuangshan Antimony District. The fact that these holes intersected flat-lying bodies mirroring the mineralisation styles observed in Xikuangshan is incredibly bullish, boosting confidence exponentially. Initial intercepts of 11.03m @ 3.1% Sb and 8.47m @ 2.67% Sb are game changers. While the exploration target remains conceptual, the immediate drilling success has undoubtedly ignited investor excitement, particularly for those holding short positions – this could be a catalyst for a significant squeeze if further positive results emerge. The market is currently pricing in a 2.08% short interest, and with this discovery, that number will almost certainly rise. The potential for a substantial antimony resource within a proven deposit type is a powerful combination. View CODE on ASX Short →
ASX:RSG – Resolute Mining Ordinary
Resolute Mining’s FID for the Doropo Gold Project in Côte d'Ivoire has generated considerable buzz, and rightly so. Securing Final Investment Decision (FID) with a post-tax NPV of US$2.543 billion is a testament to the project's inherent value and demonstrates strong investor confidence. The projected production figures – 2,196 koz over 13 years with an average annual output of 169koz – are compelling, especially considering the relatively low All-In Sustained Costs (AISC) of US$1,472 per ounce. The company's balance sheet strength, bolstered by a cash position of US$209 million, provides substantial flexibility for construction and operations. This is particularly relevant for short sellers who had been betting against the project’s viability – this FID directly counters those arguments. The 7.8% short interest suggests a significant number of investors were anticipating delays or cost overruns. However, it's crucial to acknowledge the inherent risks associated with developing a greenfield gold mine in West Africa; operational execution and political stability remain key considerations. The market is currently pricing in a 0.55% short interest, which will likely increase as construction commences. View CODE on ASX Short →
ASX:SKY – Sky Metals Ltd Ordinary
Sky Metals’ continued success at the Tallebung Tin Project is building serious momentum. The latest drilling and rock-chip results have unveiled a significantly expanded high-grade tin, tungsten, and silver deposit, further validating their strategy of aggressive exploration. The thick intercepts – including TBRC317 (8m @ 1.18% tin & 0.25% tungsten) and TBRC296 (46m @ 0.26% tin & 30.2g/t silver) – are particularly noteworthy, suggesting the potential for open-pit development. The initiation of the State Significant Development (SSD) process is a critical step towards realizing this ambition, and the appointment of a new Environmental Manager accelerates this timeline. The market has been closely watching Sky Metals’ progress, and the current 4.27% short interest reflects cautious optimism – these high-grade results have undoubtedly shifted the sentiment. If further drilling delivers similar intercepts, shorts will face mounting pressure to cover their positions, potentially triggering a significant squeeze. This is a key area to watch – continued success could rapidly change the dynamic. View CODE on ASX Short →
Bearish Signals
ASX:TZL – TasFoods Limited
Unfortunately, the week ended on a decidedly sombre note with the administration announcement for TasFoods. This isn’t just bad news; it’s a stark warning about the fragility of the Australian resources sector and the risks associated with over-leveraged mining operations. The voluntary administration by KPMG is a clear signal that the company was facing severe liquidity issues, potentially stemming from difficulties securing a buyer for its Nichols Poultry business and perhaps underlying operational challenges. While the announcement doesn't reveal specific financial details (debt levels, revenue figures), the fact that KPMG has been appointed underscores the seriousness of the situation. The scheduled creditor meeting on March 23rd will provide some clarity, but frankly, it’s unlikely to be a positive outcome for shareholders. For short sellers who had positioned themselves against TasFoods based on concerns about its debt burden and operational performance, this news is undoubtedly vindicating – the market has been patiently waiting for this level of distress. However, the potential ramifications extend beyond the immediate financial implications; it raises broader questions about risk management within the mining industry. The 0% short interest reflects a market that was effectively betting against TasFoods’ survival, and now they are reaping the rewards. The key question is whether any assets can be salvaged and what value remains for creditors – it's unlikely to be much. View CODE on ASX Short →
ASX:TFL – Electro Optic Systems Limited
The ASX’s directive against Electro Optic Systems (EOS) regarding the Goldrone contract announcement adds another layer of complexity and uncertainty. While EOS had attempted to provide more detail, the Exchange deemed it insufficient, highlighting a potential weakness in the company's continuous disclosure practices. This isn't about the Goldrone contract itself – it’s about compliance with ASX regulations and the importance of transparency when dealing with sensitive defence contracts. The requirement for EOS to review its policy suggests that similar scrutiny may be applied to future announcements, potentially increasing compliance costs and slowing down the company's ability to communicate key developments. For shorts who had been betting against EOS based on concerns about potential delays or cost overruns in this contract, this news provides further justification for their positions – it underscores the risk of operating in a heavily regulated sector like defence. The 0.12% short interest suggests that many investors were already wary of EOS’s operations and this announcement has merely amplified those concerns. The company now faces the challenge of demonstrating full compliance with ASX regulations while simultaneously managing its relationship with Goldrone – a delicate balancing act. View CODE on ASX Short →
ASX:EOS - Electro Optic Systems Limited (continued)
The level of scrutiny applied by the ASX to EOS’s initial announcement demonstrates the heightened expectations for transparency and disclosure within the defence sector, particularly concerning high-value contracts. It's a reminder that companies operating in this space need to be meticulous in their communication – ambiguity can have serious consequences. The potential impact on future disclosures is significant, potentially adding another layer of complexity to EOS’s operations and increasing compliance costs. While the short interest remains low at 0.12%, it’s likely to increase as investors assess the long-term implications of this regulatory action. View CODE on ASX Short →
The Week Ahead
Looking ahead, investors should closely monitor developments surrounding TasFoods and EOS. The creditor meeting for TasFoods will provide crucial insights into the company's liabilities and its prospects for a turnaround – it’s unlikely to be positive. Meanwhile, EOS needs to demonstrate full compliance with ASX regulations and manage its relationship with Goldrone effectively. Beyond these immediate concerns, volatility is likely to remain elevated as investors digest the broader implications of this week's announcements - particularly regarding risk management within the resource sector. Keep an eye on commodity prices – a dip in tin or tungsten could further exacerbate the negative sentiment.