S&P/ASX 200 (INDEXASX:XJO) surged 1.42% to 6087 at 12.30 pm after the JobKeeper wage subsidy program was extended until March next year.
The payments will fall from $1,500 to $1,200 a fortnight after September. People working fewer than 20 hours a week will receive $750.
The wage subsidy will fall again to $1,000 a fortnight, and $650 a fortnight for people working fewer than 20 hours, for the first three months of 2021.
Gold miners shine
Gold prices hit $US1,820 ($2,597) overnight but have softened to $US1,816.33 today, or $2,586 in the local currency.
Shares in Silver Lake Resources (ASX:SLR) hit a seven-and-a-half-year high of $2.46 today after it reported a record 71,291 ounces of gold was produced and sold for $2,300 per ounce in the fourth quarter.
Today’s top gainers on the ASX include Graphex Mining Ltd (ASX:GPX) (+105%), 9 Spokes International Ltd (ASX:9SP) (+48.28%), Volt Resources Ltd (ASX:VRC) (+11.11%), Northern Minerals Ltd (ASX:NTU) (+10.53%), Pantoro Ltd (ASX:PNR) (+17.39%) and Pure Minerals Ltd (ASX:PM1) (+23.08%).
Proactive news headlines:
Lithium Australia LieNA® extraction technology advances towards commercialisation
Legend Mining strengthens eastern geochemical footprint at Mawson massive sulphide discovery
Legend Mining Limited (ASX:LEG) has received new broad assay results that extend and strengthen the eastern geochemical footprint of the Mawson massive sulphide discovery within the Rockford Project in WA’s Fraser Range.
Copper price gains on supply shortage, demand recovery in China
Copper prices touched a one-year high of US$6,454 a tonne last week, erasing losses caused by the COVID-19 pandemic and the prolonged US-China trade war. The metal has surged by a staggering 45% since March 2020.
Bryah Resources detects strong off-hole anomaly responses during down hole EM survey
Bryah Resources Ltd (ASX:BYH) has completed 2,015 metres of reverse circulation (RC) drilling at Windalah and Mars gold prospects in the Bryah Basin of Western Australia and has detected off-hole anomaly responses in a down hole electromagnetic (EM) survey.
ioneer aims for Rhyolite Ridge Lithium-Boron Project in US to be ‘shovel-ready’ and permitted by June quarter 2021
ioneer Ltd's (ASX:INR) (OTCMKTS:GSCCF) (FRA:4G1) key consideration for funding and strategic partnering of its world-class Rhyolite Ridge Lithium-Boron Project in the US is for the project to be ‘shovel-ready’ and permitted by the second quarter of 2021.