S&P/ASX 200 bounces back from early fall to close 0.24% higher

The price of oil increased by 2.1% last night (up 17% in three days) supported by anticipated fuel demand as economies reopen.

Alkane Resources Ltd - S&P/ASX 200 bounces back from early fall to close 0.24% higher
Shares in technology companies recorded healthy gains

S&P/ASX 200 (INDEXASX:XJO) recouped its losses after falling 1% in the morning to close 13.5 points or 0.24% higher at 5573.

The market extended its winning streak to four days as commodity prices continue to rise.

The price of oil increased by 2.1% last night (up 17% in three days) supported by an expectation for greater fuel demand as economies reopen.

Shares in technology companies recorded healthy gains along with payment companies Zip Co Ltd (ASX:Z1P) (+8.4%) and Tyro Payments Ltd (ASX:TYR) (6.1%).

Top gainers

Exploration/mining stocks had a great day with the best gains for Anson Resources Ltd (ASX:ASN) (+57%), Musgrave Minerals Ltd (ASX:MGV) (+19%), Talisman Mining Ltd (ASX:TLM) (+13%), Technology Metals Australia Ltd (ASX:TMT) (+17%), Ora Banda Mining Ltd (ASX:OBM) (+12.50%) and Alkane Resources Limited (ASX:ALK) (+8.55%).

Opyl Ltd (ASX:OPL) (+39%) and Cipherpoint Ltd (ASX:CPT) (+12.5%) shares also climbed higher.

Proactive news headlines:

Technology Metals rises on signing MoU with leading vanadium redox flow battery company

Technology Metals Australia Ltd is higher after signing an MoU with a leading vanadium redox flow battery (VRFB) company aimed at setting up a vanadium offtake agreement and investigating VRFB manufacturing in Australia. The MoU is with Big Pawer Electrical Technology Xiangyang Inc Co Ltd,  which has VRFB research, development and manufacturing capabilities and has deployed VRFB systems to more than 20 locations globally.

SUDA Pharmaceuticals shares rise on securing anagrelide cancer patent in Japan

SUDA Pharmaceuticals Ltd (ASX:SUD) confirmed that the Japanese Patent Office has accepted its patent application for anagrelide to treat cancer and the patent will proceed to grant. The patent titled “Use of Anagrelide for Treating Cancer” has an expiry date of December 2035.

Ora Banda Mining delivers high-grade gold from regional drilling at Davyhurst project

Ora Banda Mining Ltd (ASX:OBM) has received encouraging high-grade gold results in a regional program at Mulline and Golden Lode mineralised corridors around its Davyhurst project in WA’s eastern Goldfields. Highlights from the Flame prospect at Golden Lode corridor include 2 metres at 19.22 g/t from 58 metres; 9 metres at 5.52 g/t from 64 metres, including 7 metres at 6.9 g/t; and 3 metres at 8.19 g/t from 80 metres.

DomaCom Funds Under Management reach $70.9 million, up 10.4% this quarter

DomaCom Australia Ltd’s (ASX:DCL) Funds Under Management (FUD) have grown by 10.4% since the start of the current quarter to $70.9 million. This is up from $64.2 million at March 31, 2020, and investors responded positively with shares up almost 7% to 6.2 cents. The growth has been driven by investment into DomaCom’s DFS Pooled Mortgage sub-fund as well as its fourth Badgerys Creek land banking and Rent To Own projects.

Opyl moves towards cash flow positive operations with new contracts

Opyl Ltd (ASX:OPL) has signed two new contracts that are expected to increase company revenue over the next three quarters. The company also has several active additional proposals in the market as a result of an intensive business development campaign collaborating with huumun.

Anson Resources surges 70% after study indicates high economic viability for Paradox Brine Project in USA

Anson Resources Ltd surged as much as 70% after an independent preliminary economic assessment (PEA) for its Paradox Brine Project in Utah, USA, indicated a high economic viability and strong return on investment. The company described the study as being ‘exceptional’ and attributed the results to the unique nature of the brine which flows to surface under a high concentration of world-class bromine grades. This PEA confirms the advantage of first extracting bromine to fast-track the project to cashflow, that can then fund the development of plants to extract lithium and other minerals, validating Ansons multi-mineral and multi-revenue strategy.

Horizon Minerals receives high-grade results from Nanadie Well Copper-Gold Project

Horizon Minerals Ltd (ASX:HRZ) has received high-grade supergene copper-gold results from its 100%-owned Nanadie Well project in the Murchison Mineral Field of Western Australia. This includes 6 metres at 1.48% copper and 4.11 g/t gold from 38 metres including 1-metre at 3.85% copper and 23.3 g/t gold from 43 metres,

Castillo Copper identifies another large mineralised system with IOCG targets at Mt Oxide pillar

Castillo Copper Ltd (ASX:CCZ) has identified another large mineralised system with iron oxide-copper-gold (IOCG) targets at the Mt Oxide pillar in northwest Queensland, enhancing the project's exploration upside and potential scale. Detailed work on IOCG target Flapjack has interpreted it to be part of a larger mineralised system that comprises the Crescent (IOCG) and Johnnies (shear-hosted copper/supergene ore) prospects. A closer review of Flapjack verifies that it is within a zone of structurally controlled east-northeast trending haematitic-quartz veins.

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