A Rare Setup in the ASX Gold Space

Ticker: ASX: REZ | Sector: Gold | Rating: Buy | Price Target: A$0.028 | Date: 24 Mar 2026

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Most junior gold companies are still trying to prove a resource. Fewer have any real pathway to production. Almost none have already poured gold.

Resources & Energy Group (ASX: REZ) sits in that rare category.
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With a newly upgraded ~100koz resource at East Menzies, including 92% Indicated at Goodenough, REZ is starting to move beyond exploration into something more tangible. The company has already completed three gold pours, holds approval for onsite processing, and is advancing under a gold price environment of ~A$6,300/oz, well above the assumptions used in its project modelling.

What makes this interesting isn’t just where REZ is today, but where it could be heading. The latest resource update is based largely on historical data reinterpretation, with fresh drilling results pending. In other words, this may be the beginning of a broader resource growth cycle, not the end.

At a ~A$12m market cap, the valuation disconnect is clear, particularly for a company with:

• A growing multi-deposit resource base
• Demonstrated production capability
• A credible pathway to near-term cash flow

In a strong gold price environment, that combination is rare.

📄 Full report available now

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