The Australian All Ordinaries bounded 2.2% to 5,174 points today in a largely positive session led by a 3.7% bounce among energy stocks.
Trading coincided with release of the Reserve Bank of Australia’s minutes, which despite strongly emphasising negative impacts related to slower growth in China seemed to inspire a 1.9% hike for the mining sector despite widespread overnight price falls on the London Metal Exchange.
MARKET ACTION
White Cliff Minerals (ASX:WCN) was among the more interesting mining plays to post in the black today, with the company closing 12.5% higher at A$0.009 on some impressive gold intersections from the first four holes of a reverse circulation program at its Aucu gold project in the Kyrgyz Republic.
Drilling along strike from the Lower Gold Zone delivered:
- 6 metres at 38.4 g/t gold, including one metre at 95.5 g/t gold and; 1 metre at 10.3 g/t gold.
Highlights encountered 550 metres along strike from Upper Gold Zone:
- 3 metres at 41.4 g/t gold, including 1 metre at 71 g/t gold; 1 metre at 58 g/t gold; and 6 metres at 3.2 g/t gold.
These results confirm that high grade mineralisation extends along strike while remaining open in both directions and at depth.
Initial assay results for this 2015 drill program have boosted the size and grade of Aucu, with the potential scale of the project growing in significance. In fact, given results to date, and areas along strike and at depth yet to be drilled, this has all the hallmarks of a monster resource in the making.
BLUE CHIPS
Major miners
BHP Billiton (ASX:BHP) up 0.7% to $20.25
Fortescue Metals Group (ASX:FMG) down 2.2% to $2.20
Newcrest (ASX:NCM) up 0.8% to $11.53
Rio Tinto (ASX:RIO) up 1.1% to $47.92
Energy or Oil and Gas
Oil Search (ASX:OSH) up 2.1% to $8.11
Santos (ASX:STO) up 4.6% to $4.32
Woodside Petroleum (ASX:WPL) up 1.6% to $29.28
Big 4 banks
ANZ Bank (ASX:ANZ) up 1.8% to $26.38
Commonwealth Bank (ASX:CBA) up 2.6% to $76.76
National Australia Bank (ASX:NAB) up 1.8% to $28.37
Westpac (ASX:WBC) up 1.9% to $30.60
Other banks, financials and industrials
AMP (ASX:AMP) up 0.2% to $5.72
Bank of Queensland (ASX:BOQ) up 2.5% to $13.67
Bendigo and Adelaide Bank (ASX:BEN) up 2.7% to $10.82
Macquarie Group (ASX:MQG) up 1.9% to $80.69
Suncorp (ASX:SUN) up 2.3% to $13.03
Telstra (ASX:TLS) up 1.9% to $5.26
Retailers
JB Hi-FI (ASX:JBH) up 1.3% to $17.52
Wesfarmers (ASX:WES) up 1.2% to $37.49
Woolworths (ASX:WOW) up 1.3% to $23.40
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