S&P/ASX 200 (INDEXASX:XJO) index is down 0.29% to 5,534 at 12.42PM, but the benchmark is set to record gains of over 2% for the week and is on track to post a fourth straight weekly gain.
The index edged lower today morning as escalating US-China tensions outweighed hopes of a speedy recovery for the global economy from coronavirus-led lockdowns.
President Donald Trump warned that Washington would react very strongly if China imposed national security laws on Hong Kong.
Mining stocks gains
Although Syrah has experienced short term headwinds, it expects significant demand growth for graphite over the longer term as a key component in lithium-ion batteries for electric vehicles.
Today’s top gainers on the ASX include Great Southern Mining Ltd (ASX:GSN) (+13.33%), Engage:BDR Ltd (ASX:EN1) (+10.00%), Kingston Resources Ltd (ASX:KSN) (+11.76%), Whitebark Energy Ltd (ASX:WBE) (+25.00%), Predictive Discovery Ltd (ASX:PDI) (+31.08%), Chase Mining Corporation Ltd (ASX:CML) (+30.77%), Bryah Resources Ltd (ASX:BYH) (+42.86%), Archer Materials Ltd (ASX:AXE) (+15.56%) and European Lithium Ltd (ASX:EUR) (+12.00%).
Proactive news headlines
Bryah Resources surges on discovery of potential direct shipping grade manganese
Bryah Resources Ltd (ASX:BYH) has discovered a new high-grade manganese zone at the Bryah Basin joint venture project in central WA with the grades supporting a near-term direct shipping production strategy. A recent reverse circulation (RC) drilling program has intersected potential direct shipping grades of greater than 30% manganese at shallow depths at the Brumby Creek prospect.
Lithium Australia subsidiary Envirostream trials use of recycled battery products in fertilisers
Lithium Australia NL’s (ASX:LIT) recycling division Envirostream Australia is targeting new markets for its battery products, with the low-value spent alkaline batteries potentially providing micro nutrients for commercial crops. Initial pot trials undertaken in controlled greenhouse conditions indicated that the Envirostream product has potential as a source of micronutrients in fertilisers.
K2fly raises $1.7 million through exercise of listed options
K2fly Ltd (ASX:K2F) has raised $1.719 million from the exercise of 8,596,096 options at 20 cents per option, representing an exercise of 65% of the total options on issue. A total of 3,333,906 listed options have been exercised by option holders between March 2020 and May 2020. In addition, a further 5,262,190 options will be subscribed for in accordance with the terms of an underwriting agreement.
St George Mining begins major Mt Alexander drill campaign testing nickel-copper sulphide targets
St George Mining Ltd (ASX:SGQ) has started a reverse circulation (RC) drilling program at Fish Hook prospect to test nickel-copper sulphide targets at Mt Alexander Project in the north-eastern Goldfields of Western Australia. This marks the first-ever drilling at Fish Hook with targets including a large nickel-copper soil anomaly as well as coincident electromagnetic (EM) and magnetic anomalies.
Argosy Minerals maiden trial cargo of high-quality lithium carbonate product ready for shipment
Argosy Minerals Limited (ASX:AGY) maiden five-tonne preliminary trial cargo of high-quality lithium carbonate product from the Rincon Lithium Project is scheduled for shipment next week. The product with greater than 99.5% purity has been prepared at the industrial-scale pilot plant and delivered to port.