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S&P/ASX 200 rises as gold price hits 7-year high; mining stocks surge

Gold prices touched US$1,768.96 per ounce in overnight trade, its highest level since October 2012

Argonaut Resources NL - S&P/ASX 200 rises as gold price hits 7-year high; mining stocks surge
Afterpay hit another record high today as it broke through to $62.11 this morning

S&P/ASX 200 (INDEXASX:XJO) climbed 0.46% higher to 5982 at 2.25PM after the price of gold hit a fresh 7-year high in overnight trade.

Some of the biggest gains have been among gold miners with smaller miners such as Bellevue Gold (ASX:BGL) and Perseus Mining (ASX:PRU) rising 10% and 8% respectively.

Larger miners like Evolution Mining (ASX:EVN) and Northern Star (ASX:NST) are higher between 3-5%.

Other top gainers

Top gainers on the ASX today include Tietto Minerals Ltd (ASX:TIE) (+11.90%), Meteoric Resources NL (ASX:MEI) (+44.44%), Strategic Elements Ltd (ASX:SOR) (+23.08%), Nelson Resources Ltd (ASX:NES) (+22.45%), PNX Metals Ltd (ASX:PNX) (+12.50%), Argonaut Resources NL (ASX:ARE) (+14.29%) and Havilah Resources Ltd (ASX:HAV) (11.11%).

Proactive news headlines:

Technology Metals strengthens alliance with world-leading kiln manufacturer FLSMIDTH

Technology Metals Australia Ltd (ASX:TMT) has signified its determination to develop the Gabanintha Vanadium Project (GVP) in WA through a strengthened alliance with leading kiln manufacturer FLSMIDTH, also reducing project risk. The Danish company with almost 11,700 employees worldwide has been selected by TMT under a binding Notice of Award (NoA) as preferred supplier of the key roasting kiln section for the Gabanintha processing plant.

Nanoveu shares up following Singapore antiviral protection distribution agreement

Nanoveu Ltd (ASX:NVU) shares have climbed after executing an exclusive agreement with AIBI Pte Ltd to distribute its antiviral protection technology in Singapore. Under the terms of the agreement, AIBI will incorporate the Nanoveu technology into a new range of gym and home exercise equipment to be distributed to businesses throughout Singapore.

AVZ Minerals calls tenders for US$300 million of Manono pre-mining infrastructure contracts

AVZ Minerals Ltd (ASX:AVZ) has further advanced its plans to develop the Manono Lithium and Tin Project in the Democratic Republic of Congo (DRC) by advertising tenders for a raft of ‘pre-mining’ infrastructure packages. The tenders – which will be awarded once AVZ makes a Final Investment Decision to mine the Manono Project – are estimated to be collectively worth about US$300 million.

PolarX opens share purchase plan to raise a further $1 million

PolarX Ltd (ASX:PXX) has opened a share purchase plan (SPP) to raise up to $1 million after completing a placement to raise around $3.76 million. Funds from the capital raising will be used for drilling at the Zackly East gold-copper skarn within its Alaska Range Project in the U state of Alaska.

Bellevue Gold at record high after tests return high recoveries, support underground re-entry

Bellevue Gold Ltd (ASX:BGL) reached a record high of $1.19 this morning after metallurgical test work at its Bellevue Gold Project in Western Australia generated recoveries averaging 97.8% across the multiple lodes. These results were achieved using conventional gravity and leaching processes and standard reagents, confirming the ability to extract gold using conventional gravity and CIL processing flowsheets.

Strategic Elements adding airborne drones to ground robotic security platform

Strategic Elements Ltd (ASX:SOR) robotics subsidiary Stealth Technologies intends to integrate airborne drones with its ground-based autonomous and robotic vehicle platform. This program is expected to deliver a completed prototype early in the December quarter of 2020.

Creso Pharma Canadian subsidiary ramps up cannabis production ahead of premium retail product launch

Creso Pharma Limited’s (ASX:CPH) (FRA:1X8) Canadian subsidiary Mernova Medicinal Inc is ramping up cannabis production towards maximum capacity ahead of the launch of its premium retail products. Mernova, a licensed producer in Nova Scotia, Canada, has been focusing on streamlining its operations to meet growing demand from medical and recreational markets in Canada after it received its sales licence from Health Canada in May.

Emmerson Resources forms strategic alliance to share technology and fast-track gold-copper discoveries

Emmerson Resources Ltd (ASX:ERM) has formed a strategic alliance with Longreach Mineral Exploration to share new technology and fast-track discovery of gold-copper projects in Australia. This alliance complements Emmerson’s existing capabilities and provides a path to accelerating project generation and early-stage exploration.

TNT Mines exploration confirms visible mineralisation at East Canyon Uranium Project

TNT Mines Ltd (ASX:TIN) has confirmed visible uranium after completing initial exploration at its 100%-owned East Canyon Uranium-Vanadium Project, in south-eastern Utah, USA. The first phase exploration program has been focused on mapping and sampling in the northern area of the East Canyon claim holdings where the historic None Such and Bonanza mine workings are located.

Kangaroo Island Plantation Timbers welcomes legal judgement relating to Smith Bay easements

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) welcomes a legal judgement from the Supreme Court of South Australia which clarifies the rights of the company and its neighbour over easements at Smith Bay.

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