The ASX 200 closed lower on Wednesday, dropping down by about .7 of a per cent.
Utilities and energy managed to stay afloat, whilst real estate and consumer dicretionary dragged the bourse - both shedding more than a per cent.
Green
St George Mining had a steller day on news it's struck a major new discovery of high-grade rare earths and niobium at its 100%-owned Araxá Project in Brazil. First assays included up to 48 metres at more than 5% total rare earth oxides and grades reaching nearly 17%.
Yandal Resources was also up after confirming it's wrapped up RC drilling at its Arrakis Prospect and confirmed a significant 2.2-kilometre mineralised structure from its Caladan air-core program.
Red
PYC Therapeutics took a drive today after the sudden departure of its CEO Dr Rohan Hockings. In the interim, Chairman Alan Tribe has stepped in as managing director - and the company says all drug development programs remain on track with timelines and budgets unchanged.
Paladin Energy was also down after raising $300 million through an institutional placement, Canadian private placement and treasury sale, and plans a further $20 million share purchase plan. Funds are hoped to advance its Patterson Lake South Project and ramp up the Langer Mine in Namibia.
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