5 June, 2023
A busy start to Monday trading!
- Resources & Energy Group identifies large and shallow nickel deposit “with prospects for open cut development” and rockets 166%
- WA1 can do no wrong, hitting record highs in early trade on more thick high grade niobium drill results
- M3 Mining (gold), Solis (lithium) and Odessa (lithium, REE) up on no news
Across Markets…
The S&P/ASX 200 jumped 1 per cent, or 71.2 points to 7216.3 on Monday, as gains across the mining and consumer discretionary sectors offset losses by tech stocks.
The major miners advanced on higher iron ore prices; Fortescue climbed 3.6 per cent to $20.40, BHP added 1.7 per cent to $44 and Rio Tinto firmed 1.3 per cent to $111.59.
Elders climbed 2.7 per cent to $6.55 per cent after announcing that chief executive Mark Allison will continue in his role.
Gold miners were among the biggest laggards as a stronger US dollar weighed on the precious metal’s price; Silver Lake fell 4.1 per cent to $1.05 and Perseus Mining dropped 2.9 per cent to $1.85.