S&P/ASX 200 lifts to positive territory as inflation stays muted

Australia’s headline consumer price index (CPI) rose 1.6% in the September quarter, but it merely retraced the June quarter’s record 1.9% drop.

Alicanto Minerals - S&P/ASX 200
Annual inflation picked up to just 0.7%

S&P/ASX 200 (INDEXASX:XJO) has recovered by rising 0.40% to 6,075 by about 2.45 pm after falling 0.5% in early trading following a weak lead from the US and European markets as COVID-19 cases continue to surge and Wall Street faces a rocky run-up to election day.

Locally, losses among the financials and energy sectors are being offset by decent gains for technology, consumer staples and healthcare.

The big four banks are acting as the major weight on the market along with Macquarie Group (ASX:MQG), which fell 2.74%.

Lockdown lifts Coles

Coles Group Ltd (ASX:COL) shares rose 3% as sales for the three months to the end of September increased by 10.4% compared to a year ago.

Group sales for the quarter totalled $9.6 billion, one of Coles' highest-ever quarterly results, with supermarket sales making up the majority at $8.5 billion, a growth of 9.8%.

Supermarket sales were primarily driven by the locked-down state of Victoria, followed by New South Wales

Liquor sales grew the most, up 17% to $852 million while convenience store sales also increased by 10%.

Top gainers

Today’s top gainers on the ASX include TNT Mines Ltd (ASX: TIN) (+8.89%), Alicanto Minerals Ltd (ASX:AQI) (+9.38%), Mako Gold Ltd (ASX:MKG) (+9.52%), Galileo Mining Ltd (ASX:GAL) (+8.89%), Ioneer Ltd (ASX:INR) (+14.71%), Andromeda Metals Ltd (ASX:AND) (+10.71%), Element 25 Ltd (ASX:E25) (+8.24%) and Red River Resources Limited (ASX:RVR) (+11.90%).

Proactive news headlines:

Oklo Resources begins new field season at Dandoko with gold drilling campaign

Oklo Resources Ltd (ASX:OKU) has resumed work for the 2021 field season after the wet season with drilling at Seko prospect within its flagship Dandoko Gold Project in west Mali.

Alkane Resources fields high-grade Roswell infill results ahead of gold resource update next month

Alkane Resources Ltd (ASX:ALK) has received high-grade gold results from infill drilling at Roswell deposit within the wider Tomingley Gold Project in Central West NSW, which will form part of a resource update expected next month.

Andromeda Metals higher as Natural Nanotech JV makes halloysite nanotechnology breakthroughs

Andromeda Metals Ltd (ASX:ADN) and Minotaur Exploration Ltd’s (ASX:MEP) Natural Nanotech Pty Ltd (NNT) research and commercialisation JV has made a technological breakthrough by producing halloysite-based nanocarbon (fullerene) materials from Great White Project halloysite-kaolin.

GTI Resources completes acquisition of two Utah uranium-vanadium leases, exploration underway

GTI Resources Ltd (ASX:GTI) has completed the acquisition of two mineral leases from Anfield Energy Inc in Utah, USA, that are highly prospective for uranium and vanadium with fieldwork underway to determine prioritised targets for drilling within the expanded project area.

K2fly strengthens technical assurance suite of software solutions with SATEVA acquisition

K2fly Limited (ASX:K2F) has executed a share sale agreement to acquire Sateva Pty Ltd and Sateva Development Pty Ltd to strengthen its technical assurance suite of software solutions that address global tier-1 and tier-2 mining companies.

Tietto Minerals secures key environmental approval for 3.2-million-ounce Abujar Gold Project

Tietto Minerals Ltd (ASX:TIE) has received Côte d’Ivoire Ministry of Environment and Sustainable Development approval for the environmental and social impact assessment (ESIA) for its 3.02-million-ounce Abujar Gold Project.

Galileo Mining diamond drilling identifies primary massive sulphide for first time at Fraser Range Project

Galileo Mining Ltd’s (ASX:GAL) recent diamond drilling program in the Lantern Area of the Fraser Range Nickel Belt in Western Australia has confirmed nickel prospectivity, with the first occurrence of nickel and copper-rich massive sulphides over a 7-centimetre section of drill core.

Lithium Australia receives US patent for low-energy lithium extraction technology SiLeach®

Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) has received Notice of Allowance from the US Patent and Trademark Office for its SiLeach® patent application US 16/076,643, which was filed in August 2018.

Twenty Seven Co completes Oz Gold acquisition and exercises option to acquire Mt Dimer

Twenty Seven Co Ltd (ASX:TSC) has completed the acquisition of 100% of the shares of Oz Gold Group Pty Ltd following the Binding Term Sheet (BTS) announced on September 11, 2020.

ioneer Ltd in exclusive partnership with Caterpillar for heavy equipment supply at Rhyolite Ridge Lithium-Boron Project in Nevada

ioneer Ltd (ASX:INR) (OTCMKTS:GSCCF) (FRA:4G1) has signed a partnership with Caterpillar Inc (NYSE:CAT) (FRA:CAT1) as its exclusive heavy equipment partner for the Rhyolite Ridge Lithium-Boron Project in Nevada.

Ironbark Zinc continues development work on Citronen Zinc-Lead Project and revisits gold at Fiery Creek in NSW

Ironbark Zinc Ltd (ASX:IBG) is continuing development work on updating the processing, logistics, communications and project execution elements at the flagship Citronen Zinc-Lead Project in Greenland.

Kin Mining's strong results expand Collymore gold trend strike length to more than 1.2 kilometres

Kin Mining NL's (ASX:KIN) (FRA:8KM) strong results from aircore drilling have extended the strike length of the Collymore gold trend to more than 1.2 kilometres, further enhancing the potential for growth at the Cardinia Gold Project near Leonora in Western Australia.

Alta Zinc discovers high-grade cobalt-nickel and copper-silver at Italian project

Alta Zinc Ltd (ASX:AZI) says the latest fieldwork at Punta Corna polymetallic project in Northern Italy “has the potential to be extensive” as it is open in all directions, including vertically.


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