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S&P/ASX 200 gives back morning gains after financials and materials fall

Evolution Mining has sold its Cracow Gold Mine in Queensland to Aeris Resources.

Argosy Minerals Ltd - S&P/ASX 200 gives back morning gains after financials and materials fall
The Reserve Bank will make an interest rate decision at 2.30 pm this afternoon

S&P/ASX 200 (INDEXASX:XJO) is trading 8 points or 0.14% down to 5811 at 12.21 pm dragged down by financials and materials as tech and consumer discretionary names lead gains.

Westpac Banking Corp (ASX:WBC) is the worst performer amongst the big four banks with a 1.04% decline, National Australia Bank Ltd (ASX:NAB) is down 0.11% and National Australia Bank Ltd (ASX:NAB) fell 0.17%.

Australian general government final consumption expenditure increased by $1.93 billion or 2.0% in the March 2020 quarter and is expected to contribute 0.3% to the volume measure of GDP growth for the quarter.

The best performing stocks on the ASX today include Cape Lambert Resources Limited (ASX:CFE) (+50.00%), Ansila Energy NL (ASX:ANA) (+17.65%), MMJ Group Holdings Ltd (ASX:MMJ) (+12.50%), Broken Hill Prospecting Ltd (ASX:BPL) (+9.09%), Fe Limited (ASX:FEL) (+9.09%) and Brookside Energy Ltd (ASX:BRK) (+20.00%).

Proactive news headlines:

Nanoveu higher as antiviral phone protectors are approved by TGA

Nanoveu Ltd (ASX:NVU) has opened higher on approval of its antiviral phone protection technology by the Australian Therapeutics Goods Administration (TGA). The technology has received Class I Medical Device status which is reserved for low-risk and non-invasive medical equipment, such as surgical retractors or tongue depressors. With Nanoveu’s TGA submission being successful, the technology is now listed on the Australian Register of Therapeutic Goods (ARTG), which permits commercial sale within Australia.

Argosy Minerals customers confirm up to 99.88% lithium carbonate purity for Rincon samples

Argosy Minerals Limited (ASX:AGY) customers have confirmed up to 99.88% lithium carbonate content for samples from the Rincon Lithium Project in Argentina, the highest purity recorded to date. Product sample testing was carried out by Mitsubishi Corporation RtM Japan Ltd, a subsidiary of Mitsubishi Corp (TYO:8058), after five separate lithium carbonate sample lots were delivered to Japan and supplied to a Japanese end-user customer.

Kingston Resources substantial shareholder Winchester Investments increases stake

Kingston Resources Ltd (ASX:KSN) substantial shareholder Winchester Investments Group Pty Ltd has increased its stake in the company to 15.67% from 13.02%. On June 1 Winchester acquired 10 million shares valued at $1.6 million as part of the company's $8.4 million capital raising to progress the 3.2-million-ounce Misima Gold Project in Papua New Guinea as well as the Livingstone Gold Project in WA.

Mako Gold signs definitive sale agreement with Nordgold for Niou project

Mako Gold Ltd (ASX:MKG) has signed a definitive sale agreement with Nord Gold SE for the sale of the Niou permit and Niou Sud permit in Burkina Faso. Under the terms of the proposed sale agreement, Mako will sell the permits, receiving US$700,000 (around A$1.1 million) upfront cash consideration. In addition, Mako will retain a 1% Net Smelter Royalty (NSR) if Nordgold discovers an NI 43-101 compliant resource of at least 2 million ounces of gold and advances the resource to production.

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