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S&P/ASX 200 gains 0.97% as investors continue to wait for the U.S. election results

West Texas Intermediate crude oil price jumped 4% to US$39.15 on Wednesday after data showed a large decline in US crude inventories.

MGC Pharmaceuticals Ltd - S&P/ASX 200
Spot gold was little changed at US$1,904.66 even as the possibility of a contested result remained.

S&P/ASX 200 (INDEXASX:XJO) has surged 0.97% to 6121 by 2.03 pm following a positive lead from Wall Street as investors continue to wait for the result of the U.S. election.

As per The New York Times, Democratic nominee Joe Biden has won 253 electoral votes while President Donald Trump trailed with 214.

The race has come down to a handful of states classified as too close to call with 270 electoral votes required to declare a winner.

Highest trade balance since June

Australia's trade surplus surged by $3 billion in September to $5.63 billion, as gold exports increased and goods imports dropped.

The ABS reported the highest trade balance since June as total exports increased by a seasonally adjusted 4%, or $1.27 billion, to $33.7 billion during the month.

Top gainers

Today’s top gainers on the ASX include MGC Pharmaceuticals Ltd (ASX:MXC) (+10.00%), Black Rock Mining Ltd (ASX:BKT) (+12.50%), Engage:BDR Ltd (ASX:EN1) (+20.00%), Andromeda Metals Ltd (ASX:AND) (+15.63%), Linius Technologies Ltd (ASX:LNU) (+8.00%), Artemis Resources Ltd (ASX:ARV) (+8.33%) and Nexus Minerals Ltd (ASX:NXM) (+28.00%).

Proactive news headlines:

Kingston Resources begins key environmental approval process at PNG gold project

Kingston Resources Ltd (ASX:KSN) has submitted the environmental inception report (EIR) for its Misima Gold Project in PNG marking the formal start of the environmental approvals process.

Latin Resources strengthens gold position with new project in heart of prolific Lachlan Fold Belt

Latin Resources Ltd (ASX:LRS) (FRA:XL5) has extended its holdings in the prolific yet underexplored Lachlan Fold Belt of NSW, which hosts world-class gold and copper-gold deposits, through obtaining the Manildra Gold Project in the heart of the belt.

Mali Lithium to begin trading with new name, Firefinch Limited, on November 6

Mali Lithium Ltd (ASX:MLL) will commence trading under the name Firefinch Limited with the ASX code ‘FFX’ as of Friday, November 6.

MGC Pharmaceuticals completes ArtemiC Phase II clinical trial on COVID-19 infected patients, final results next month

MGC Pharmaceuticals Ltd (ASX:MXC) (OTCMKTS:MGCLF) (FRA:MGC) has completed its 50-patient Phase II double-blind, placebo-controlled clinical trial for anti-inflammatory treatment, ArtemiC, on patients diagnosed with COVID-19 to evaluate its safety and efficacy.

Great Southern Mining review defines large scale drill ready gold targets next to Cox's Find

Great Southern Mining Ltd (ASX:GSN) has completed an in-house review of four strategic and highly prospective tenement applications immediately adjacent to its 100%-owned Cox’s Find Gold Project in Western Australia.

Archer Materials starts development of A1 Biochip, a lab-on-chip biosensing device to simplify disease detection

Archer Materials Limited (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) has commenced building a lab-on-a-chip device (biochip) named A1 Biochip™ that is capable of simplifying disease detection at the point-of-care.

Bardoc Gold identifies extensive gold mineralisation on multiple trends in drilling at North Kanowna Star

Bardoc Gold Ltd (ASX:BDC) (FRA:4SF) has identified multiple new zones of strong gold anomalism at its North Kanowna Star Project, just 29 kilometres southeast of the proposed mill and mine site at its flagship 100%-owned 3.03 million Bardoc Gold Project in Western Australia.

Emmerson Resources kicks off Kadungle diamond drilling as Kiola shows promising early results in golden region of NSW

Emmerson Resources Ltd (ASX:ERM) (FRA:42E) has kicked off a 1,700-metre diamond drill program at its Kadungle project in New South Wales, to test below shallow epithermal gold mineralisation and also for deeper, porphyry-style copper-gold.

Founders First will adopt Mighty Craft name to reflect business strategy

Founders First Ltd (ASX:FFL) shareholders approved a change in the company’s name to Mighty Craft at the annual general meeting on Wednesday.

Element 25 on path to be globally significant manganese producer with Butcherbird commissioning scheduled next quarter

Element 25 Ltd (ASX:E25) is on track for the Butcherbird Project in Western Australia to become a globally significant, low-cost, high-purity manganese project, with commissioning scheduled for quarter one of 2021.

MMJ Group investee Harvest One anticipates further sales volume and revenue improvements

MMJ Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) investee Harvest One Cannabis Inc (CVE:HVT) anticipates sales volumes, net revenues and adjusted EBITDA to improve this fiscal year due to a full year of new cannabis 2.0 derivative products sales in Canada, improvements in gross margin and a continued focus on reducing costs.

Strategic Elements subsidiary in new collaboration for autonomous security drones

Strategic Elements Ltd (ASX:SOR) will collaborate with a leading US-based Autonomous Drone technology company to enable drones to autonomously launch and land from a ground-based autonomous vehicle platform (AxV).

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Emmerson Resources talks new high impact copper-gold drill targets at Kiola

Emmerson Resources Ltd (ASX:ERM)'s Rob Bills tells Proactive they're planning high impact drilling at the Kiola project in the Lachlan Fold Belt of NSW after a 3D MIMDAS geophysical model identified new copper-gold drill targets. The geophysical survey has been completed to assist the 2021...

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