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S&P/ASX 200 up 1.1% as strong gains in commodity prices push mining and energy stocks higher

Goldminers were amongst the top performers as the price of the precious metal rose above US$1,740 an ounce.

Andromeda Metals Ltd - S&P/ASX 200 up 1.1% as strong gains in commodity prices push mining and energy stocks higher
Mining stocks are collectively up 3.1%

S&P/ASX 200 (INDEXASX:XJO) gained 63 points or 1.1% to close at 5819 as iron ore miners pushed higher and banks bounced back from a weak start.

Mining stocks are collectively up 3.1% as iron ore prices powered past $US100 a tonne for the first time in 10 months amid concerns about supply issues in COVID-19 ravaged Brazil.

BHP Group Ltd (ASX:BHP) gained 3.1% to $35.71, Rio Tinto (ASX:RIO) rose 4.1% to $97.23 and Fortescue Metals rose 6.4% to an all-time high of $14.79.

Goldminers were also amongst the top performers as the price of the precious metal rose above US$1,740 an ounce, with Evolution Mining Ltd (ASX:EVN) rising 3.3% to hit an all-time high of $6.30.

The best performers on the ASX include Great Southern Mining Ltd (ASX:GSN) (+22.09%) Opyl Ltd (ASX:OPL) (+11.11%), Nanoveu Ltd (ASX:NVU) (+11.11%), Volt Resources Ltd (ASX:VRC) (+12.50%), Whitebark Energy Ltd (ASX:WBE) (+20.00%), Oakdale Resources Ltd (ASX:OAR) (+50.00%), Eclipse Metals Ltd (ASX:EPM) (+12.50%), PNX Metals Ltd (ASX:PNX) (+12.50%), St George Mining Ltd (ASX:SGQ) (+10.00%), Ansila Energy NL (ASX:ANA) (+13.33%), Blackstone Minerals Ltd (ASX:BSX) (+10.00%), Argonaut Resources NL (ASX:ARE) (+16.67%) and Blackham Resources Ltd (ASX:BLK) (+18.75%).

Proactive news headlines:

Platina Resources strikes multi-million deal for Skaergaard Palladium and Gold Project

Platina Resources Limited (ASX:PGM) has struck a multi-million deal for its non-core Skaergaard Palladium and Gold Project in Greenland which will be sold to Canada’s Eastern Zinc Corp (CNSX:EZNC). This will create more than A$8.3 million in value and enable Platina to focus on core projects, including its namesake NSW project, which has potential to become Australia’s first scandium producer with cobalt, platinum and nickel credits.

Havilah Resources enters research collaboration for REE recovery from Kalkaroo

Havilah Resources Ltd (ASX:HAV) (FRA:FWL) has entered a research agreement with the University of South Australia to investigate recovery of by-product rare earth elements (REE) from saprolite gold ore at the company’s Kalkaroo project. Test sample material for the six-month collaborative research agreement will come from Havilah’s recent shallow drill holes at West Kalkaroo, which encountered highly elevated levels of REE.

MMJ Group's Canadian investment Embark Health starts revenue generating operations

MMJ Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) (FRA:2P9) investment Embark Health Inc has started revenue-generating operations at its newly commissioned cannabis production facility in British Columbia, Canada. Production of bubble hash, rosin and dry sift is underway following the recent start of producing cannabis extracts at the facility in Delta, BC.

Kingwest Resources intersects high-grade gold at deepest level yet in Menzies drilling

Kingwest Resources Ltd (ASX:KWR) has revealed additional positive results from the ongoing diamond core program at Yunndaga and Lady Shenton systems at the Menzies Gold Project (MGP) in WA. Significant new assays include 1.03 metres at 25.40g/t gold from 731.47 metres in KWRD014 which is the deepest hole drilled to date at Yunndaga, and the MGP.

Kazia Therapeutics presents positive interim data from paxalisib study at prestigious medical conference

Kazia Therapeutics Ltd (ASX:KZA) has released a poster presentation of interim data from the ongoing phase II study of paxalisib (formerly GDC-0084) in glioblastoma, the most common and most aggressive form of primary brain cancer. The data showing positive overall survival signal was a feature of Kazia's poster presentation during the prestigious American Society of Clinical Oncology (ASCO) annual meeting which was held virtually at the weekend due to the COVID-19 pandemic.

Andromeda Metals PFS further improves economics for Poochera Halloysite-Kaolin Project

Andromeda Metals Ltd’s (ASX:ADN) positive pre-feasibility study (PFS) has reinforced the potential for Poochera Halloysite-Kaolin JV Project in South Australia to be a long-term supplier of high-quality halloysite-kaolin product. The PFS for a proposed kaolinised granite open-cut mine and site wet-processing facility at Carey’s Well deposit has delivered further improvement in the project economics. This has largely been achieved through the inclusion of onsite wet-processing for the production of premium grade refined kaolin clay.

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