ASX Stocks Rise Despite High RBA Rates: DTR, MP1 and S32

These three companies are showing growth through stronger project activity, rising recurring revenue, expanded production, new contracts and improved financial guidance.

1. Dateline Resources Limited (ASX: DTR)

Dateline Resources Limited (ASX: DTR), on 28 September 2026, announced the US Department of Justice filed a motion on 25 September to pause the 10 August preliminary injunction while its appeal continues. The Department of War’s Assistant Secretary for Industrial Base Policy also submitted a declaration referring to US national security interests. If approved, Colosseum could restart under its approved Plan of Operations.

The Government argued that the District Court made an error regarding the “valid existing rights” clause under section 508 of the California Desert Protection Act. It requested that Colosseum Rare Metals Inc. resume operations while the appeal proceeds. The stay application is expected to be considered in late October.

On 16 September 2026, financial statements said Dateline owns 100% of the Colosseum Gold-HREE Project in California. The company also owns Music Valley Heavy Rare Earth Project and the Argos Strontium Project. The Colosseum's BFS was completed in May 2026.

2. Megaport Limited (ASX: MP1)

Megaport Limited (ASX: MP1), on 29 September 2026, announced three new AI infrastructure contracts with a combined TCV of approximately A978.6M. Prepayments total about A322.6M, lifting pro forma Group ARR to around A1.1B. More than 85% of ARR comes from North America, with pro forma liquidity of about A362.2M.

The 29 September 2026 trading update showed Group ARR billing above A500M. August Network NRR reached 116%, while Network ARR was A302.6M, up 29% on a constant currency basis. Compute ARR reached A$201.4M on 22 September, rising 90% since 30 June. GPU clusters, CPUs, storage and networking were already provisioned, accepted and billing.

FY27 guidance was upgraded to A720M–A810M revenue and 42–44% EBITDA margin. Capex is now expected at A1.78B–A1.88B. Strategic contracts announced since April total about A2.3B, while GPU pool replenishment requires about A360M.

3. South32 Limited (ASX: S32)

South32 Limited (ASX: S32), on 15 September 2026, outlined its long-life, high-margin copper, zinc and silver assets, alongside manganese production. Projects under construction are expected to increase production by about 55%. The company also has projects in study and exploration stages.

S32 explained that its simpler asset-led operating model gives operations more local decision-making responsibility. The streamlined portfolio is expected to reduce annual overhead costs by about US$125 million. The balance sheet provides flexibility for growth projects and shareholder returns.

The company outlined exposure to copper, zinc, silver, lead and manganese. Copper supply could face a 10Mt shortfall by 2035, while zinc demand could exceed production by about 4Mt. Silver has remained in deficit since 2021. Lead supports batteries, while manganese is used in steel and may gain from EV batteries.

At Sierra Gorda, South32 owns 45% of the long-life open-pit copper mine. FY26 EBITDA was US$758M, with a 66% operating margin. Ore Reserves increased 61% to 1.1Bt, and a fourth grinding line is being expanded.

(Source: Company Report)