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S&P/ASX 200 closes 0.62% higher as gold miners shine

Spot gold edged up 0.1% to $1,782.21 per ounce today after hitting its highest level since early October 2012 at $1,785.46 in the previous session.

Artemis Resources Ltd - S&P/ASX 200 closes 0.62% higher as gold miners shine
Spike in COVID-19 infections in the US is dousing hopes of a swift economic rebound

S&P/ASX 200 (INDEXASX:XJO) gained 36.5 points or 0.62% to close at 5934.4 thanks to gains from banks, gold miners, retailers and property stocks.

Gold miners Northern Star Resources Ltd (ASX:NST) surged 7% while Evolution Mining Ltd (ASX:EVN) was up 6%.

Australia's big four iron ore miners exported 82.2 million tonnes in June, a 12% monthly increase on an annualised basis.

Today is set to be a busy day for global markets with data on manufacturing activity to be released in the UK, Europe and the US.

COVID-19 update

Top US infectious disease expert Dr Anthony Fauci said COVID-19 cases could grow to 100,000 a day in the country if Americans do not start following public health recommendations.

Asked to forecast the outcome of recent surges in some states, Dr Fauci said he can't make an accurate prediction but believes it will be "very disturbing".

"We are now having 40,000+ new cases a day. I would not be surprised if we go up to to 100,000 a day if this does not turn around, and so I am very concerned.”

Top gainers

Top gainers on the ASX today include De Grey Mining Limited (ASX:DEG) (+10.50%), Artemis Resources Ltd (ASX:ARV) (+10.34%), Horizon Minerals Ltd (ASX:HRZ) (+13.64%), Archtis Ltd (ASX:AR9) (+34.78%), Bryah Resources Ltd (ASX:BYH) (+14.58%) and Castillo Copper Ltd (ASX:CCZ) (+15.38%).

Proactive news headlines

Great Southern Mining shares jump after drilling visible gold at Cox’s Find Project

Great Southern Mining Ltd (ASX:GSN) has confirmed the occurrence of visible gold-bearing mineralisation in diamond drill core from its Cox’s Find Gold Project in WA. Hole 20CFRCD0004 was drilled immediately down plunge from the known historical Cox’s Find workings and was designed to intersect an area of known high-grade mineralisation that has previously been identified from the recent 2019 December drill campaign.

VIP Gloves to boost annual output 60% with four new nitrile glove production lines

VIP Gloves Ltd (ASX:VIP) plans to boost production capacity by up to 60% with the installation of four additional new production lines over the next 18 months to meet the strong demand for nitrile gloves on the back of the prolonged global COVID-19 pandemic. As part of its plans, the company raised $2.3 million to part-finance the installation of the initial two new nitrile glove production lines at its factory premises in Selangor, Malaysia.

Canyon Resources robust PFS demonstrates Minim Martap Bauxite Project potential

Canyon Resources Ltd (ASX:CAY) has delivered a robust pre-feasibility study for the Minim Martap Bauxite Project in Cameroon, West Africa, that confirms the project’s potential to produce high-quality, low-contaminant bauxite over a long mine life of at least 20 years via a multi-stage development. The PFS expands on Canyon’s scoping study in November 2019 and is underpinned by Minim Martap’s very high-grade, low silica bauxite resource, positioning the project as one of the highest quality bauxite deposits globally and providing diversification away from concentrated Guinea supply.

Technology Metals 32% lift in indicated vanadium resource provides scope to boost Gabanintha mine life

Technology Metals Australia Ltd (ASX:TMT) has increased the Gabanintha Vanadium Project measured and indicated resource by 32% to 9.6 million tonnes at 1% vanadium, providing scope to extend the mine life. The increase is a result of a maiden indicated mineral resource for the Southern Tenement of 9.6 million tonnes at 1.0% V2O5.

Venus Metals and partner deliver high-grade gold recoveries in oxide mineralisation at Youanmi Gold Project

Venus Metals Corporation Ltd (ASX:VMC) and joint venture partner Rox Resources Ltd (ASX:RXL) have delivered high-grade gold recoveries from initial metallurgical test-work at the Youanmi Gold Project in Western Australia. The results demonstrate that the gold mineralisation at Youanmi, and especially at Grace, can be treated by conventional cyanide extraction methods.

Meteoric Resources completes acquisition of high-grade WA gold project

Meteoric Resources NL (ASX:MEI) (FRA:RNF) has added to its gold asset inventory after completing the acquisition of the high-grade Palm Springs project in the Kimberley region of Western Australia. The company has already submitted a Program of Works (POW) for the advanced exploration play 30 kilometres southeast of Halls Creek and, pending approvals, expects to begin drilling in August.

Northern Minerals set to restart operations at heavy rare earths pilot plant following capital raise

Northern Minerals Ltd (ASX:NTU) has decided to partially restart operations at its Browns Range Heavy Rare Earths Pilot Plant Project and recommence exploration across its tenements in the East Kimberley region of WA. The decision follows the lifting of Commonwealth biosecurity restrictions applied to the Kimberley region as part of COVID-19 control measures, which was the catalyst for NTU placing the project on care-and-maintenance at the end of March 2020.

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