S&P/ASX 200 lifts for a fifth straight session; gets closer to all-time high

Bitcoin price dropped as low as US$52,148.98 on Sunday morning, days after reaching an all-time high above US$64,800.

Arrow Minerals Ltd - S&P/ASX 200
The total number of COVID-19 related deaths worldwide have surpassed three million.

S&P/ASX 200 (INDEXASX:XJO) is higher for a fifth consecutive session to start the new week and is ~1.7% away from the all-time high of 7,197 hit in February last year.

The index was last trading about 0.17% higher at 7075.6 points by 12.52 pm.

Leading improvements were materials, financials and utilities while energy, IT and communications stocks fell.

Largest global lithium company

Lithium miners Galaxy Resources (ASX:GXY) and Orocobre (ASX:ORE) have agreed on a $4 billion merger to create the fifth largest global lithium chemicals company.

According to the scheme, Orocobre shareholders will own 54.2% of the new entity with Galaxy shareholders owning the remaining 45.8%.

COVID-19 wave

India’s COVID-19 infection rate has hit a record high while Germany’s chancellor on Friday said a third wave of the virus had the country in its grip.

India added about 270,000 new cases on Sunday, taking its total reported cases to more than 15 million.

The sub-continent is the only country other than the US to cross 15 million cumulative cases.

Top gainers

Today’s top gainers on the ASX include Arrow Minerals Ltd (ASX:AMD) (+14.29%), Carnavale Resources Limited (ASX:CAV) (+11.11%), Golden Rim Resources Ltd. (ASX:GMR) (+22.22%), Rumble Resources Ltd (ASX:RTR) (+75.00%), Walkabout Resources Ltd (ASX:WKT) (+8.33%) and Elementos Limited (ASX:ELT) (+8.33%).

Proactive news headlines:

Rumble Resources shares up 103% to new record on back of zinc-lead discovery at Earaheedy

Rumble Resources Ltd (ASX:RTR) has hit a new record after fast-tracked assay results from two reverse circulation (RC) holes at Chinook Prospect of the Earaheedy JV Project in Western Australia confirmed a zinc-lead discovery.

Creso Pharma buoyed by Halucenex entering LOI with leading nanotechnology company

Creso Pharma Ltd’s (ASX:CPH) (FRA:1X8) target acquisition Halucencex Life Sciences Inc has signed a non-binding Letter of Intent (LOI) with leading nanotechnology company Sixth Wave Innovations Inc (CNSX:SIXW) (OTCMKTS:ATURF) to assess Molecularly Imprinted Polymers (MIPs).

Chalice Mining secures key properties covering all known Gonneville Intrusion mineralisation

Chalice Mining Ltd (ASX:CHN) (OTCQB:CGMLF) has strengthened its position at Gonneville Intrusion within the Julimar Nickel-Copper-PGE Project near Perth in Western Australia by entering binding agreements to acquire four additional key private properties.

K2fly completes strongly supported $7.25 million placement to institutional and sophisticated investors

K2fly Ltd (ASX:K2F) has completed a strongly supported share placement and received irrevocable commitments to raise A$7.25 million at an issue price of A$0.29 per share.

Australian Potash receives green loan verification for debt finance to help develop Lake Wells Sulphate of Potash Project

Australian Potash Ltd (ASX:APC) has received green-loan verification for the debt issued to partly fund development at its flagship Lake Wells Sulphate of Potash Project (LSOP) in Western Australia.

Carnavale Resources extends Kookynie Gold Project anomalies with high-grade results up to 2 metres at 16.25 g/t

Carnavale Resources Ltd (ASX:CAV) (FRA:YBB) has extended the McTavish East and McTavish North gold anomalies in the second round of aircore drilling at the Kookynie Gold Project in Western Australia.

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