The ASX 200 was down 9.6 points at 5,775.5 at midday with large-cap Telstra Corp (ASX:TLS) falling 1.5%, continuing last week’s slide.
Stepping down a couple of divisions, some outstanding trench and pit samples from the Winston area of the Hanang Project, Tanzania, saw shares in Tanga Resources Ltd (ASX: TRL) rocket 75%. The highlight was a grab sample that weighed in at a bonanza 81 grams per tonne of gold.
“These latest results reinforce the high-grade nature of mineralisation at the Winston target and highlight the potential for further discoveries, both within the immediate Winston area and regionally within the Hanang Project area,” said John Stockley, technical director.
Profit-taking hits HearMeOut ...
After doubling in value last week, the social media group HearMeOut Ltd (ASX:HMO) succumbed to a bout of profit-taking with its shares down 22%.
On Friday the company finally broke its silence – but only to tell investors it knew of no reason for the recent upward trajectory of the stock.
It did, however, point out the HearMeOut app, which allows users to record 42-second voice clips, has been consistently ranked in the top 10 most downloaded social media apps in the US over the last three days.
Electric performance by Volt ...
Shares in Volt Resources (ASX:VRC) rose 15% after it said it had signed its fifth offtake agreement this year filling 100% of proposed Stage 1 capacity at its flagship Namangale graphite project in Tanzania.
The company signed a non-binding offtake term sheet with Qingdao Tianshengda Graphite for 10,000 tonnes per annum of flake graphite product from Stage 1 production.
This is the fourth agreement that Volt has signed with a Chinese graphite group since management completed a successful product marketing trip in May 2017.