An easing in China’s manufacturing downturn and lower than expected local inflation data has sent Australia’s All Ords up 0.6% to 5,502.2 point. The Shanghai Stock Exchange Composite Index is down 0.63% to 2,059.87 points while in pre-open markets the Dow-mini is up 13 points to 16,471.
The start of Triton Mineral’s third phase of reverse circulation and diamond drilling is focused on the southern portion of the Nicanda Hill prospect in the Balama North graphite project in Mozambique. This is expected to better understand the location, width, depth and grade of the identified graphitic zone.
RedFlow has positioned itself to target wider applications for its zinc bromine battery, as technological advancements have delivered a more flexible product to use in finished energy storage systems, while being easier to manufacture.
Exploration drilling at Red Mountain Mining’s South West Breccia has intersected high grade mineralisation, confirming the existence of discreet zones of shallow high grade gold mineralisation along the 500 metre exposed portion of the SWB corridor.
The identification of multiple potential pay zones in both primary and secondary reservoir targets drilled to date at Citation Resources’ Atzam-5 oil appraisal well in Guatemala is noteworthy given the flow of oil to surface previously. That the reservoir sections appear to be highly fractured is another positive for future potential oil production rates.
Blackham Resources is reinvigorating the Wiluna gold belt, and the company has received a $1.35 one-year price target from Sydney broker Paradigm Securities. The target is close to six-times the $0.23 last traded price.
With a fourth rig poised to become operational, Range Resources is moving to ramp up drilling operations at its onshore Trinidad oil assets and has made regulatory approval progress for its Beach Marcelle waterflood program that could substantially increase oil production. It has also signed a MoU for a strategic alliance with Chinese oil service company LandOcean Energy Services.
Investors continued to embrace earnings season, with U.S. stocks gaining for a sixth straight session. The S&P 500 is now up 3.5% in the past six days. Gold and oil eased. The ASX SPI 200 is up 22 points to 5494.
A "game-changer" for South Boulder and the Joint Venture Company which own the Colluli potash project, could be the production of potassium sulphate which is a premium potassium fertiliser. South Boulder has now commenced testwork focussed on processing all salts from the project.
Results from the commercial scale trial at its Marianas Magnetite Tailings Project with mined head grade of 17.88% iron and concentrate with 69.6% contained iron provides Condor Blanco Mines with the confidence to proceed with its development.
The award of three Western Australia construction contracts worth a total of $66 million demonstrates Diploma Group’s ability to generate new work despite continued overall weakness in the construction sector. The deal is value accretive for the company, and its shares are expected to trade higher.
The $3.75 million placement of 25 million shares priced at $0.15 demonstrates the confidence that various institutional and sophisticated investors have in TZ Limited’s Infrastructure Protection and Packaged Asset Delivery businesses and paves the way for the company to secure further contracts that will drive revenue growth.