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S&P/ASX 200 rises 3.89%; marks best daily gain in over two months

The Dow futures soared amid a report that Trump is preparing a $1 trillion infrastructure proposal.

Apollo Minerals - S&P/ASX 200 climbs 3.89% as US futures point to further gains
North Korea has threatened to redeploy troops near its border with South Korea

S&P/ASX 200 (INDEXASX:XJO) snapped its three-session slump by closing 3.89% higher at 5942 following a striking rebound by the US equity markets on Monday.

The good news kept coming with futures contracts tied to US stock indices currently trading higher after a Bloomberg report said President Donald Trump’s administration is preparing a $1 trillion infrastructure proposal.

Dow Jones Industrial Average futures rose 503 points, suggesting an open gain of more than 550 points when regular trading resumes today.

The Bloomberg report said the US would set aside a majority of the money for traditional infrastructure such as roads and bridges, though funds would also be reserved for 5G wireless infrastructure and rural broadband.

Positive signs of recovery in Australia

The Bureau of Statistics reports that Australian home prices increased by 1.6% in the March quarter to stand 7.4% higher over the year – the strongest annual growth rate in 2½ years.

The total value of residential dwellings was at a record high $7,237.1 billion in the March quarter.

According to the CBA Group economists, “We are seeing some big changes taking place in household spending that provide early signs of stabilisation and recovery in some parts of the Australian economy, largely driven by changes in government policy.”

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) today lifted its forecast for Australian farm exports by 9.3% to $47 billion in 2019/20 (from a previously forecast $43 billion in March).

Meat and live animal exports for 2019/20 are estimated to hit record highs of $17.5 billion, up by 13.1% from a year ago.

Top gainers

Top gainers on the ASX today include Cape Lambert Resources Limited (ASX:CFE) (+50.00%), Mali Lithium Ltd (ASX:MLL) (+9.37%), Yandal Resources Ltd (ASX:YRL) (+9.09%), Kin Mining NL (ASX:KIN) (+9.09%), Musgrave Minerals Ltd (ASX:MGV) (+10.26%), Talisman Mining Ltd (ASX:TLM) (+13.04%), Xtek Ltd (ASX:XTE) (+11.71%), Canyon Resources Ltd (ASX:CAY) (+13.33%), Artemis Resources Ltd (ASX:ARV) (+11.11%) and Apollo Minerals Limited (ASX:AON) (+10.34%).

Proactive news headlines:

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XTEK secures A$2.5 million loan to mass produce ballistic helmets with first commercial order on-track

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PNX Metals boosts Fountain Head gold resource by 13% to 156,000 ounces

PNX Metals Ltd (ASX:PNX) has increased and improved confidence in mineral resources at Fountain Head and Tally Ho gold deposits in the Northern Territory to 2.94 million tonnes at 1.7 g/t gold for 156,000 ounces. This resource update has added 18,000 ounces of gold to the resource and the new estimate includes a 20.5% increase to the indicated resource category.

Horizon Minerals infill drilling supports updated vanadium resource at Richmond-Julia Creek JV

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Arrow Minerals raising $3.2 million capital to advance Burkina Faso and WA projects

Arrow Minerals Ltd (ASX:AMD) has received commitments from qualified sophisticated and professional investors to raise $2.2 million via the placement of shares at 0.6 cents per share. In addition, Arrow will undertake an issue of unlisted convertible notes to raise $1 million, resulting in a total raising for Arrow of $3.2 million. The proceeds will be used to fund expanded exploration and drilling programs at Arrow’s gold exploration projects in Burkina Faso including the Dassa gold discovery, and geophysical surveys at the Strickland coper-gold project in WA.

Anson Resources launches $3 million capital raising to advance Paradox Brine Project in US

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Titanium Sands robust scoping study shows potential for large HMS dredging project at Mannar Island

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Nanoveu to deploy phone screen protector laminating machines in Thailand

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Venus Metals has win-win at Youanmi JV with exploration costs covered and strong results

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Auteco Minerals embarks on maiden diamond drilling at Canadian gold project with resource estimate upcoming

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Comet Resources ramps up Barraba Copper Project activities with project manager appointed

Comet Resources Ltd (ASX:CRL) has ramped up activities at the Barraba Copper Project in NSW with its work plan for an on-ground exploration program nearing completion and the appointment of Mart Rampe as project manager. Rampe is a highly experienced geologist with around six years’ experience in minerals exploration and development, which includes grass roots exploration through to pre-mine development.

TNT Mines higher on completing acquisition of high-grade US uranium-vanadium project

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Pantoro's high-grade gold results extend depth of mineralisation at OK Underground Mine

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Jindalee Resources receives encouraging lithium test results from McDermitt

Jindalee Resources Ltd (ASX:JRL) has received encouraging metallurgical test-work results from the McDermitt Lithium Project near the Nevada-Oregon border in the US. These tests have confirmed an increase in lithium head grade via screening, which the company described as significant.

Lithium Australia's Soluna energy storage solution approved by Clean Energy Council

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