S&P/ASX 200 rise after lunch helped by mining stocks

The NSW-Victoria border is set to close at midnight with a travel ban already in place for residents of Melbourne.

Alkane Resources Ltd - S&P/ASX 200 shares rise after lunch helped by mining stocks
China’s share market has surged 14% in just 5 days

S&P/ASX 200 (INDEXASX:XJO) is trading 0.54% up at 6047 by 2.15 pm helped by healthy gains for major mining stocks.

Fortescue Metals Group Limited (ASX:FMG) is up 6%, BHP Group Ltd (ASX:BHP) rose 1.68% and Rio Tinto Limited (ASX:RIO) is 0.95% higher.

Overnight in Wall Street, US stocks extended their winning streak to five days, with the S&P 500 lifting 1.6% and Nasdaq hitting an all-time high.

Tesla deliveries beat expectations

Tesla Inc (NASDAQ:TSLA) shares surged 13.5%, rising for the fifth session following better-than-expected quarterly deliveries.

Chinese shares are up by 14% in just 5 days and has been accompanied by significant trading volume.

Back home, ANZ-Roy Morgan Australian Consumer Confidence survey showed sentiment dropped a further 1% last week, taking it to an eight-week low.

The Reserve Bank of Australia is widely expected to keep cash rates on hold at 0.25% in today’s announcement.

COVID-19 update

Victoria confirmed 191 new COVID-19 cases and tougher containment measures – possibly even an entire state lockdown.   

Premier Daniel Andrews is expected announce a four-week state-wide lockdown after 44% of Monday’s cases were found in local government areas with no locked down postcodes.

The US passed another grim milestone Monday as the death count from the virus climbed past 130,000, according to a tally kept by Johns Hopkins University.

The country now has 2,888,729 COVID-19 cases and 130,007 deaths.

White House health advisor Dr. Anthony Fauci said that the average age of new coronavirus patients has fallen by about 15 years compared with only a few months ago as the coronavirus reignites in America’s Sun Belt.

Top gainers

Today’s top gainers on the ASX include Australian Potash Ltd (ASX:APC) (+11.43%), Mali Lithium Ltd (ASX:MLL) (+21.74%), Kingston Resources Ltd (ASX:KSN) (+10.26%), Argonaut Resources NL (ASX:ARE (12.50%) and Aeris Resources Ltd (ASX:AIS) (+12.82%).

Proactive news headlines:

Auteco Minerals higher on landing firm commitments for $30.4 million placement to accelerate gold exploration

Auteco Minerals Ltd (ASX:AUT) is trading higher after receiving firm commitments to raise around $30.4 million in a placement with funds to accelerate exploration at the flagship Pickle Crow Gold project in Ontario, Canada. Shares are up more than 26% to 19 cents, which represents a new 12-year high.

Bellevue Gold notches up maiden indicated gold resource of 860,000 ounces at 11.6 g/t

Bellevue Gold Ltd (ASX:BGL) (OTCMKTS:BELGF) has taken a key step in its transition from gold explorer to developer with a maiden indicated resource for its namesake project of 860,000 ounces at 11.6 g/t gold. This resource, which has been independently estimated by a leading consultant, includes a high-grade core of 480,000 ounces at 15.5 g/t at the Viago and Deacon lodes which remain open in all directions.

Metro Mining tops quarterly guidance after achieving record shipping in June

Metro Mining Ltd (ASX:MMI) has achieved record shipping in June with a total of 536,454 WMT (wet metric tonnes) loaded onto ocean-going vessels. Combined with the strong performances in April and May, Metro has exceeded the upper end of its June quarter guidance by 150,688 WMT (14%).

Kingwest Resources high-grade drill results add to gold potential at Menzies

Kingwest Resources Ltd (ASX:KWR) has been encouraged by further high-grade gold results from diamond core and reverse circulation (RC) drilling at the Menzies Gold Project (MGP) in Western Australia. Notable results include 3 metres at 6.66 g/t gold from 24 metres and 3 metres at 6.05 g/t from 61 metres.

Core Lithium completes purchase of Bynoe Lithium Project with final $1.5 million cash payment

Core Lithium Ltd (ASX:CXO) will this month pay the final $1.5 million cash payment to Liontown Resources Limited (ASX:LTR) to purchase the Bynoe Lithium Project in the Northern Territory. This acquisition is playing a key role in the company's growth story through contributing to recent announcements of project resources of 15 million tonnes at 1.3% lithium oxide and ore reserves supporting a seven-year life of mine (LOM).

Alkane Resources meets upgraded FY2020 guidance for Tomingley Gold Operations

Alkane Resources Limited (ASX:ALK) has met the FY2020 gold production guidance of between 30,000 ounces to 35,000 ounces.at its Tomingley Gold Operations in Central West New South Wales. The operations produced 33,507 ounces of gold for the 12 months to June 30, 2020, with preliminary all in sustaining costs (AISC) of $1357 per ounce produced, which also fell within cost guidance of $1,250 to $1,400 per ounce.

Legend Mining hits best Mawson grades to date with 3% nickel, 2.3% copper and 0.19% cobalt

Legend Mining Limited (ASX:LEG) has added to the robust nature of Mawson prospect within the Rockford Project in WA’s Fraser Range with an intersection of 4.5 metres at 3.05% nickel, 2.32% copper and 0.19% cobalt the best grades to date.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Jindalee Resources' Lindsay Dudfield talks plans to unlock value at its...

Jindalee Resources Ltd's (ASX:JRL) Lindsay Dudfield discusses with Proactive London's Andrew Scott the plans to advance its McDermitt US lithium project. Back in June they received encouraging metallurgical test-work results from the project which confirmed an increase in lithium head grade...

2 days, 7 hours ago

5 min read