S&P/ASX 200 rises above 7000 to hit new post-pandemic high

Brent crude futures rose 0.4% to US$63.95 a barrel after industry data showed US oil inventories declined more than expected and OPEC raised its outlook for oil demand.

Alta Zinc Ltd - S&P/ASX 200
Gold prices inched higher to US$1,747.49 per ounce on Wednesday after data showed a bigger-than-expected rise in U.S. inflation.

S&P/ASX 200 (INDEXASX:XJO) has gained 0.31% to 6998 by 1.15 pm after briefly hitting a fresh 13-month high of 7,022.7 earlier in the day.

The Westpac-Melbourne Institute Index of Consumer Sentiment gained 6.2% to 118.8 in April from 111.8 in March even after the JobKeeper tap was turned off.

The monthly measure of consumer sentiment has survived Jobkeeper and vaccine concerns to hit its highest level since August 2010, when Australia was in the middle of a post-GFC rebound and mining boom.

Brainchip (ASX:BRN) surged 17% after announcing the start of volume production of its Akida processors, intended for use in home automation technology, remote controls, robotics and security cameras.

The billion-dollar company has promised to build computer chips that mimic the workings of the human brain.

Top gainers

Today’s top gainers on the ASX include Alta Zinc Ltd (ASX:AZI) (+16.67%), Golden Rim Resources Ltd. (ASX:GMR) (+11.11%), Kneomedia Ltd (ASX:KNM) (+9.09%), Lithium Australia NL (ASX:LIT) (+13.64%), St George Mining Ltd (ASX:SGQ)  (+21.62%) and Tyranna Resources Ltd (ASX:TYX) (+14.29%).

Proactive news headlines:

OAR Resources continues to firm up halloysite-kaolin potential of Gibraltar project in Eyre Peninsula hotspot

OAR Resources Ltd (ASX:OAR) (FRA:F1S) continues to firm-up the halloysite-kaolin potential at its Gibraltar Halloysite-Kaolin Project on South Australia’s Eyre Peninsula, with the completion of the latest phase of extension aircore drilling.

Firefinch begins dewatering superpit at Morila Gold Project

Firefinch Ltd (ASX:FFX) (FRA:N9F) has this week started dewatering the Morila Superpit at the Morila Gold Project in Mali, West Africa.

Matador Mining will use gold pathfinder elements to assist in unlocking future Cape Ray Gold Project exploration success

Matador Mining Ltd’s (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:7MR) high sensitivity multi-element geochemistry has characterised the key pathfinder element footprints associated with known gold deposits at Cape Ray Gold Project in Newfoundland, Canada, providing a mechanism for future exploration success.

Brookside completes pad construction and sets conductor casing in preparation for Jewell Well drilling

Brookside Ltd (ASX:BRK) (OTCMKTS:RDFEF) is making strong progress as it prepares to drill the high-impact Jewell 1-13-12 SXH well in the SWISH Area of Interest (AOI) in the world-class Anadarko Basin of Oklahoma, USA.

Kin Mining intercepts shallow high-grade gold in initial Eagle Crow aircore drilling

Kin Mining NL (ASX:KIN) (FRA:8KM) has intersected zones of shallow high-grade gold mineralisation in initial aircore drilling at Eagle-Crow prospect within the Cardinia Gold Project (CGP) near Leonora in Western Australia with results of up to 8 metres at 7.90 g/t from 28 metres to the bottom of the hole.

Legend Mining makes strong start to 2021 diamond drilling by growing Mawson footprint

Legend Mining Limited (ASX:LEG) has grown the mineralised intrusive footprint of the flagship Mawson Nickel-Copper-Cobalt Prospect within the Rockford Project on WA’s Fraser Range with new diamond drilling intersecting further mineralised lithologies.

Lithium Australia subsidiary VSPC highlights high-value potential of LFP battery materials with PFS

Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) subsidiary VSPC Ltd (VSPC) has delivered a positive pre-feasibility study (PFS) demonstrating its capacity to produce advanced lithium ferro phosphate (LFP) cathode powders.

Queensland Pacific Metals to close SPP early after overwhelming response

Queensland Pacific Metals Ltd (ASX:QPM) (FRA:4EA) has received an overwhelming response to a share purchase plan (SPP) that opened on March 31, 2021, and will close the plan early at the close of business today.

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