It may only be a week since the dust settled on Brexit, and after shockwaves in the market, concerns have faded rapidly.
The ASX All Ords added 3% for the week.
Elk is one step closer to securing a US$58 million loan facility as the financier, Benefit Street Partners LLC has received credit approval for the facility.
Chris Torrey, MD, commented: "The support we received from the market puts the company in a strong financial position to reach its next phase of growth. We are fortunate that Silver City has both zinc and lithium projects as the two commodities are in hot demand."
Recent assay results from Lithium Australia's joint venture partner, Alix Resources, have identified a lithium-bearing 1.1 kilometre long zone.
Todd Zani, CEO and executive chairman, commented: “The company was pleased with the strong support and take up of shares from existing shareholders, particularly given the Brexit and its impact on our local markets."
Maria Halasz, CEO, has exclusively joined Proactive Q&A Sessions™ to discuss the company's revenue growth and global product roll-out.
Three reverse circulation holes were drilled returning intersections including 18 metres at 4.88 g/t gold and 5 metres at 10.8 g/t gold. Follow up drilling is currently being planned and a revision of the resource estimate at Essex is underway.
U.S. stocks crowned the end of the second quarter with a firm gain on Thursday.
Australian equities are set to follow suit, with the ASX SPI 200 up 49 points to 5225.
High grade extensions of 7 metres at 17.7 g/t gold equivalent were intersected 30 metres down plunge from the Commonwealth resource.
The maiden shipment of L88 is a significant milestone for MZI and bodes well for strong June quarter sales figures. The Keysbrook project represents the largest, single-project leucoxene producer in the world.
Gold mineralisation was intersected in all four diamond holes with grades measuring up to 47.2 g/t gold. A follow-up program of drilling is expected to commence immediately.
Daniel Kenny, CEO, commented: "We are delighted with the progress we have been making to prosecute and progress both our CE mark and IDE submissions."