U.S. stocks moved between slight gains and losses Thursday ahead of the long holiday weekend, as investors weighed mostly positive economic data and earnings reports. Oil gained and gold eased. The ASX SPI is up 11 points to 5454.
The All Ords has gained 0.6% to 5,444.8 points on stronger than expected Chinese GDP growth. The Shanghai Stock Exchange Composite Index slipped 0.3% to 2,098.85 points while in pre-open markets the Dow-mini is down 31 points to 16,299.
With supplies uncertain and demand looking to rise higher, palladium prices have recently increased to their highest close in more than two years. Further gains look likely with one forecast indicating that it could reach an average of $1,000 per ounce.
The acquisition of a further 32.2% interest in the Chanach Copper Gold project in Kyrgyz Republic by White Cliff Minerals is driven by the discovery of the Aucu discovery earlier this year, which had highlighted its potential to develop a significant tonnage, high grade copper-gold deposit.
The receipt of $493,750 in funding through converting loan agreements with three new European investors highlights the strong level of confidence and interest in Global Strategic Metal’s Wolfsberg Lithium Project in Austria.
A reinstatement onto the ASX this morning follows a transformative period for Minera Gold's Ashley Pattison, bagging non dilutive, off balance sheet funding from SilverStream, and further funding for a total purse of $7 million. This will complete the planned expansion of the Torrecillas Gold Project in Southern Peru and a transition to owner operator milling.
The coking coal agreements give Condor the right to earn a stake in The Duel, Universal Annex and Mopane projects, all located in the Soutpansberg Coalfield of northern South Africa. The debt funding is now due from a Swiss based bank, with the loan documents having been presented to Condor for final review.
The silver assays from Nimbus-Boorara Project in Western Australia provide an exciting new vista for MacPhersons as it indicates that host rocks and mineralisation occurs up to 600 metres below historical producing mines and offer long term underground mining opportunities.
The fieldwork is designed to generate drillable targets at Merolia nickel-copper project in Western Australia. The prospective parts of the project extend over 80 kilometres and are along strike from Independence Group's (ASX: IGO) Rosie and Rox Resources'(ASX: RXL) Camelwood nickel sulphide discoveries to the north.
Today's MoU with Zambian electricity authority, ZESCO continues the brace of news and momentum building from Sese and the case for medium term re-rating of AFR. The announcements indicate the role that AFR is likely to play in fuelling power hungry African continents.
Real Energy is the only junior oil and gas explorer left with a large landholding in Australia’s prolific producing Cooper Basin (8,314km2) that is 100% owned that is prime oil and gas exploration ground. As the last junior left with 100% ownership of its landholdings, we expect Real Energy will have takeover appeal at some stage. Real Energy also has cash reserves of $14.1m.
Fire assays of drilling carried out at Mindax Limited’s Meekatharra North Gold Project in Western Australia have returned results of up to 1 metre at 3,820ppb gold. The company will now complete the full geological interpretation and consider future work programs with its joint venture partners who funded the current work.