- FTSE 100 index climbs 31 points
- Wall Street keeps its head above water
- Oil giants wanted as Brent crude rallies
5pm: FTSE escapes Thursday with modest gains
The FTSE 100 ended the day up 31 points, 0.5%, at 5,978. Its FTSE 250 counterpart had a stronger showing, closing up 144 points, 0.8%, at 17,946.2.
"Equity markets are showing decent gains on renewed hopes of a stimulus package in the US," CMC Markets UK analyst David Madden wrote Thursday. "President Trump claimed that Congress has restarted talks in relation to a coronavirus relief package, but no further details were given. The back and forth in relation to the stimulus programme has been the main story of the last few sessions."
As Trump has gone, so often have the markets.
"Earlier in the week, the Donald declared that the discussions were brought to an end, and that there would be no stimulus scheme until after the election, but now there has been a U-turn, and it would not be the first time that the US leader changed his mind in a short period of time," Madded added. Traders reacted well to the news, especially seeing as European markets underperformed against their US equivalents yesterday."
Among the high performers is Rolls-Royce Holdings PLC (LON:RR), which has stormed back 85% since falling to a 17-year low last Friday, Madden said. The dip came after the company announced plans to raise funds from a rights issue and through debt. Since then, traders have changed their tune, and today the stock ended 24% higher at £195.35.
In the US, the Dow Jones Industrial Average was up 19 points, less than 0,1% just after noon. The Nasdaq gained 50 points, 0.4%, to 11,415.5, and the S&P 500 improved 16 points, 0.5%, to 3,435.6.
Markets opened higher before sliding back near the flatline after US House Speaker Nancy Pelosi said she would not support a standlaone coronavirus relief bill for airlines without a larger stimulus package. Trump called for such a move yesterday in a tweet.
4pm: Solid gains for the Footsie
While US indices were hitting five-week highs, the Footsie was enjoying a good day of its own.
The index of blue-chip shares rose 41 points (0.7%) to 5,987, bringing it back in sight of the 6,000 level.
Oil giants Royal Dutch Shell PLC (LON:RDSB) and BP PLC (LON:BP.) did their bit to propel the Footsie higher, as oil prices hardened.
The former was up 3.3% at 1,001.4p while BP was 3.2% heavier at 222.65p.
On futures exchanges, the December contract for Brent crude was up US$1.16 at US$43.15 a barrel.
“Current consensus is that oil prices are not expected to move much higher than current levels of around US$40-US$45/bbl for the rest of the year, because of still high excess global inventories and the stalled recovery in oil demand with the end of the US driving season and the continued trend of rising COVID-19 cases, especially in major European economies, which have started to re-impose some restrictions to curb the spread,” said boutique broker, SP Angel.
“Yet, despite the bearish fundamentals and the headwinds coming from the so-called second wave of infections, oil prices are unlikely to crash again as they did in April when oil demand collapsed by 20%.
“At the same time, even if we don’t see oil prices in the teens again this year, the risks and uncertainties on the markets continue to be skewed to the downside, leaving little room for price gains for the remainder of 2020,” the broker added.
3.15pm: Proactive North America headlines:
BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) announces VirTrial as patient monitoring partner for COVID-19 study in Australia to test efficacy of AP-003
Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) closes acquisition of cannabinoid company Opticann; building on US expansion strategy
BioLargo Inc (OTCQB:BLGO) subsidiary Clyra Medical's COVID-19-inactivating spray Clyraguard now available to the public
Willow Biosciences Inc (TSX:WLLW) (OTCQX:CANSF) partners with Lethbridge and Calgary universities to study the effects of non-psychoactive cannabinoids on intestinal inflammation, abdominal pain and depression
Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) becomes founding member of European Raw Materials Alliance
Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) chosen as venue tracing and fan engagement solution for NCAA college basketball bubble in Vegas
Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) gets back to drilling in Peru as it starts 7,000 metre program
American Battery Metals Corporation (OTCQB:ABML) names Facebook director Menka Sethi as its new COO
Byrna Technologies Inc (CSE:BYRN) (OTCQB:BYRN) starts production of personal security kits at new Fort Wayne, Indiana manufacturing facility
BlackRock Gold Corp (CVE:BRC) hails further drill assays from maiden program at Tonopah West project in Nevada
2.45pm: Higher start for Wall Street
The main stock market indices in New York opened positively on Thursday morning as trader optimism over more US stimulus appeared to override a disappointing set of jobless claims data.
Shortly after the opening bell, the Dow Jones Industrial Average was up 0.44% at 28,428, while the S&P 500 climbed 0.51% to 3,437 and the Nasdaq rose 0.65% to 11,438.
Back in London, the FTSE 100 had taken its cue from Wall Street and was up 42 points at 5,988 at 2.45pm.
2.00pm: US index futures push higher despite disappointing jobless numbers
US initial jobless claims dipped to 840,000 last week from a revised 849,000 the week before.
Economists had predicted the number of claims would fall to around 820,000.
Continuing claims declined to 10.98mln from 11.77mln the week before; the consensus forecast was for continuing claims of 11.40mln.
.@CNBC on the just-released US weekly initial jobless claims number
Per this chart from @LizAnnSonders (thank you Liz Ann), the rate of improvement in the labor market continues to moderate in the context of an economic recovery that is falling short of what's needed and possible pic.twitter.com/3vj49KCkfD
— Mohamed A. El-Erian (@elerianm) October 8, 2020
The higher-than-expected weekly jobless claims number does not seem to be deterring investors, much; the Dow Jones is now expected to open at arun 28,476. up 173 points while the S&P 500 is set to open around 17 points higher at 3,436.
Looking on uninterested (if not disinterested) were investors in the UK, where the FTSE 100 was up 37 points (0.6%) at 5,984.
There was a bit more life being shown by the mid-cap FTSE 250, which was up 245 points (1.4%) to 18,045p, helped by a 20% increase in the Talktalk Telecom Group PLC (LON:TALK) share price after the telecoms titan received a bid approach from major shareholder, Toscafund.
12.30pm: "Two things continue to drive this market higher – hopes of stimulus and a solid Biden poll lead"
US markets are expected to open higher, driven by hopes that the long-awaited fiscal stimulus package will (eventually) be delivered.
The Dow Jones industrial average is expected to advance 120 points to 28,423. The broader-based S&P 500 is tipped to harden 11 points to 3,430 while the tech-heavy NASDAQ Composite is seen rising 192 points to 11,547.
“Two things continue to drive this market higher – hopes of stimulus and a solid Biden poll lead that seems to point towards a decisive result in the elections that will, all things being equal, greatly reduce the chances of a legal challenge following the November poll,” said Chris Beauchamp, the chief market analyst at IG.
Craig Erlam, an analyst at another online trading platform operator, OANDA, reckons “it may also help that the Democrats lead has widened in the polls which may give them some confidence that a more ambitious, comprehensive package can more easily be passed in January”.
“Trump has clearly ramped it up this week and the polls suggest voters aren't yet warming to what he has to say. That, of course, may change but Democrats may be feeling more confident. The vice-Presidential debate won't change the views of the electorate, which the Democrats may be happier with given their lead. It was far more civil than the exchange between the Presidential candidates, although they did shirk the tougher questions,” Erlam suggested.
Traders will be waiting for the latest first-time jobless claims, due later today.
Pantheon Macroeconomics is forecasting a fall to around 825,000 last week from 837,000 claims the week before; the consensus forecast is 820,000.
“The jobless claims numbers today are a bit of a wild card. We model the unadjusted week to week change in initial claims using Google searches for "file for unemployment" and the hard daily data released by Wisconsin's Department of Workforce Development; as far as we know, Wisconsin is now the only state to publish numbers in advance of the weekly report from the federal Department of Labor. This approach has worked reasonably well, but we're concerned now that Wisconsin's number might not be reliable, because the state now has the third-highest number of daily new Covid-19 cases in the country, per capita, and economic activity is suffering,” Pantheon explained.
In London, the FTSE 100 was up 30 points (0.5%) at 5,976, with aerospace-related stocks Rolls-Royce Holdings PLC (LON:RR.) and British Airways owner International Consolidated Airlines SA (LON:IAG) continue the rally both have enjoyed this week – possibly as a result of short-sellers closing short positions.
Rolls-Royce leads the index, with a 15.4% rise to 180.8p while IAG is in the silver-medal slot, up 8.8% at 106.05p.
11.30pm: Housing market is "red hot" but is it already cooling?
It’s already been an up and down day – if not overly dramatic – for UK equities, with the Footsie now back in positive territory.
London’s index of heavyweight shares was up 29 points (0.5%) at 5,976, thanks in part to enthusiasm for housebuilders following today’s release of the latest taking of the temperature of the housebuilding sector by the Royal Institute of Chartered Surveyors (RICS).
The net balance of surveyors reporting that house prices have risen over the last three months increased to +61 in September, from +44 in August, which was well above the consensus forecast of +40.
The balance is calculated by subtracting the percentage of respondents reporting a decline in house prices from the percentage reporting an increase.
The increase in September in RIC’s house price balance to its highest level since June 2002 confirms that the housing market currently is “red hot”, according to Samuel Tombs at Pantheon Macroeconomics.
“The immediate pipeline of demand also looks solid; the new buyer enquiries balance dropped to +52 in September, from +63 in August, but remained well above its +2 average in the 2010s. Nonetheless, the timeliest indicators of demand indicate that the recovery is fading,” Tombs said.
#RICS September #UK #housing market survey maintains picture of current buoyancy with robust rises in buyer enquiries, agreed sales & new instructions. Price balance up to 18-year high of +61 (+44 in August). Activity expected to lose momentum further out https://t.co/2FGWdKc0kh
— Howard Archer (@HowardArcherUK) October 8, 2020
“Google Trends data imply that the daily number of people visiting one of the three main property websites now is only 9% above its January average, having peaked 25% above this level in late August. In addition, the recent jump in mortgage rates and withdraw by lenders of high LTV [loan-to-value] loans likely will mean that a higher than usual proportion of property searches will not result in purchases. True, the housing market should be less sensitive to rising unemployment than in the 2008-to-09 recession, when home-ownership was more widespread, but it will not be immune,” Tombs said.
Investors did not seem overly fussed, or perhaps they did not look as deeply into the numbers as Tombs did; either way, Taylor Wimpey PLC (LON:TW.), up 5.0% at 122.1p, led the housebuilding sector, closely followed by Barratt Developments PLC (LON:BDEV), which was up 3.5% at 543.2p.
10.00am: Recruitment picks up in September
After advancing half-heartedly in the first hour of trading, the Footsie is now retreating just as half-heartedly.
London’s index of leading shares was down 7 points (0.1%) at 5,939.
A survey by the Recruitment and Employment Confederation (REC) and accountants KPMG indicated that employers hired permanent staff at the quickest rate in almost two years in September.
The survey of hiring intentions saw the index rise to 56; a level above 50 indicates growth in hiring.
Survey respondents indicated that the easing of lockdown measures to contain the coronavirus disease 2019 (COVID-19) outbreak had led clients to take on more staff. At the same time, overall vacancies rose for the first time since February, albeit only slightly.
Starting salaries awarded to permanent workers continued to fall solidly in September, with the rate of decline accelerating slightly from August. Meanwhile, wages for temps fell only modestly. In both cases, rising candidate numbers, subdued demand for workers and greater pressure on clients' budgets were linked to reduced pay, REC/KPMG said.
“While it’s encouraging to see a further recovery in hiring activity and that growth in permanent staff appointments was the strongest for almost two years, it’s concerning to see another rapid rise in total candidate availability,” said James Stewart, the vice-chair at KPMG.
Total candidate availability continued to rise at a substantial pace in September, despite the rate of growth easing from August's near-record high, KPMG observed.
“With increasing unease over what will happen in the coming months with the pandemic, Brexit and with the end of the furlough scheme in sight, the uncertainty for UK business is not going to dissipate anytime soon,” Stewart predicted.
Coincidentally, recruitment firm Robert Walters PLC (LON:RWA) announced today in its third-quarter trading update it would reinstate its interim dividend.
The shares rose 5.4% to 372p after the recruiter said net fee income levels are improving quarter-on-quarter, especially in the Asia Pacific region, but market conditions remain challenging worldwide.
8.55am: Modest gains for Footsie
The FTSE 100 made a lacklustre start to proceedings on Thursday amid reports further coronavirus (COVID-19) restrictions will be imposed.
The UK blue-chip index nudged 10 points higher to 5,956.7.
The Daily Mail says 10 million ‘northerners’ will be plunged into a tough tier-three lockdown with pubs and restaurants closed, while Scotland has already announced new measures.
“The likely impending pressure on the consumer could have further implications for the hospitality and leisure sectors,” said Richard Hunter, head of markets at Interactive Investor.
“Meanwhile, the airlines remain in fight rather than flight mode, conserving capital in any way possible, as evidenced by some of the measures announced today by easyJet following the halving of passenger numbers due to the pandemic.”
The price action within the dining and wider hospitality industry was muted with Wagamama owner Restaurant Group (LON:TRG) and Whitbread (LON:WTB), which runs the Premier Inn chain, both flat.
Airline group IAG (LON:IAG), meanwhile, was perkier than would be expected with bargain-hunters driving the stock 4.1% higher.
Bookie GVC (LON:GVC) was the early favourite with the City’s punters at it surged 7.2% after upgrading its earnings forecasts.
Finally, telco TalkTalk (LON:TALK) shot up 16% after receiving a bid approach from the investment group Toscafund.
Proactive news headlines:
Asiamet Resources Ltd (LON:ARS) has struck a US$163.4mln deal to sell the BKM Copper project in Indonesia. PT Wasesa Indo Nusa (PT WIN), currently a private Indonesian shell company, is to acquire Asiamet’s wholly-owned subsidiary company Indokal, which holds the Kalimantan Surya Kencana (KSK) Contract of Work which in turn hosts the BKM project. It will be a phased transaction with an aggregate deal consideration of US$163.5mln. At first, US$10mln of cash will be paid to Asiamet upon execution of a binding sale agreement. The next US$40mln of cash will come as PT WIN completes an intended stock market IPO onto the Indonesian Stock Exchange in early 2021. Asiamet will then subsequently receive PT WIN shares equating to 22.5% of the company, in two tranches.
Woodbois Limited (LON:WBI) has said it is “on track” to meet its expectations for the full year after completing a restructuring of its balance sheet in the third quarter. In an update covering the period from July 1 to September 30, 2020, the Africa-focused forestry and timber firm said it has “significantly” reduced its debt to US$1.1mln from US$49.9mln, which in turn reduced interest charges in the quarter by 50% while the positive impact of the restructuring is expected to be even greater in the final quarter of its current year, with interest charges expected to be around 90% lower than in the second quarter.
Sareum Holdings PLC (LON:SAR) said the US Patent and Trademark Office has issued what is called a notice of allowance offering protection for its pre-clinical cancer immunotherapy drug candidate. The patent will protect the SDC-1802 molecule and its pharmaceutical preparation. SDC-1802 is a dual tyrosine kinase 2 (TYK2)/Janus kinase 1 (JAK1) inhibitor. TYK2 and JAK1 are members of the Janus Kinase (JAK) family of protein kinase enzymes that play roles in autoimmune diseases and tumour cell proliferation in cancer.
Thor Mining PLC (LON:THR) shares moved higher on Thursday as the group reported that results collected from historic stream sediment samples correlated with a gold trend at the Pilbara goldfield tenements in Western Australia. The AIM-listed firm said the sampling results had confirmed a 13 kilometre anomalous gold trend along the eastern thrust faulted mafic/ultramafic contact, adding that sample delineating the gold target zone are from separate drainage catchments, supporting the potential of gold mineralisation along the entire strike length.
W Resources PLC (LON:WRES) has extended its loan facility with BlackRock to access an additional US$7mln. The additional facilities will support the implementation of a comprehensive production programme to boost production at the La Parrilla tungsten and tin mine, the company said. It provides a significantly increased working capital buffer, W Resources noted.
Kromek PLC (LON:KMK) has announced the appointment of former FTSE 250 CEO Rakesh Sharma as a non-executive director of the group with immediate effect. The worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets noted that Sharma has 20 years' experience in running international hi-tech engineering and manufacturing businesses, being instrumental in the growth of Ultra Electronics Holdings PLC. Having joined Ultra Electronics at its formation in 1993, Sharma presided over significant revenue and profit growth across multiple director-level and divisional roles, including in North America, latterly serving for six years as CEO.
Applied Graphene Materials PLC (LON:AGM) has launched a new commercial offering to provide research and development (R&D) services to support businesses in harnessing the potential of graphene in their products. The AIM-listed firm said its Innovation Accelerator will offer customers a range of solutions including exclusive graphene-enhanced dispersions tailored for their systems, support from Applied Graphene's technical experts to develop a customised projects, formulation services and full system application testing and product characterisation. Applied Graphene said the service represents a potential new revenue stream for the group, with partners to pay a one-off fee for a package that includes R&D, quality control testing, on-going stability trials and a starter kit of a graphene dispersion. Tailored dispersions made to customer product specifications will be priced separately.
Bacanora Lithium PLC (LON:BCN) has entered a conditional sale and purchase agreement with Erris Resources PLC (LON:ERIS) for its 50% interest in Deutsche Lithium (DL), the owner of the Zinnwald lithium project in Germany. Under the agreement, Bacanora said it will sell its stake in DL plus €1.35mln (£1.23mln) in return for 90.6mln new shares in Erris, together with a net profit royalty. Following the transaction, Bacanora said it will own a 44.3% stake in Erris.
CMC Markets PLC (LON:CMCX) has said its net operating income in the current financial year will be towards the upper end of the current range of forecasts. The six months to the end of September 2020 saw the spread-betting firm put in a record performance, with strong trading across all parts of the business. Net trading revenue from certificates for deposit (CFDs) during the period shot up to around £200mln from £85mln in the corresponding period of 2019.
OptiBiotix Health PLC (LON:OPTI) has appointed a former Tesco PLC (LON:TSCO) lead development manager, Aneta Zlotkowska as its head of Quality & Operations. Zlotkowska’s main responsibilities at Tesco were within the distribution business unit in logistics and operations. She will join the AIM-listed life sciences business at the beginning of 2021 and one of her primary objectives will be to attain a British Retail Consortium certification for OptiBiotix.
Oriole Resources PLC (LON:ORR) told investors that it has extended the Bibemi and Wapouzé exploration licences in Cameroon. It comes as drill equipment is being mobilised to the Bibemi site ahead of a maiden 3,000-metre drill programme. The licence tenure was renewed for a third two-year exploration term. Oriole has a team on the ground in the field present, with work presently underway to high-grade prospects in the Bakassi project area.
Amryt Pharma PLC (NASDAQ:AMYT) (LON:AMYT) said the top-line results from its successful phase III study will be run as a late-breaking abstract at the European Association of Dermatology and Venereology Virtual Congress later this month. The EASE trial of FILSUVEZ showed the gel was effective in accelerating wound healing in people with epidermolysis bullosa, a rare, chronic and distressing genetic skin disorder. The treatment has been granted rare paediatric disease designation and has also been given fast track status by the US Food and Drug Administration.
Malvern International PLC (LON:MLVN) said its language schools in London, Manchester and Brighton have now reopened and are following government guidance on coronavirus (COVID-19) lockdown restrictions. The London and Manchester schools reopened on August 10 and the Brighton school reopened last month, the company said in its results statement for 2019. Around 50 students have enrolled at the centres and enquiries and bookings are starting to pick up. The governments of the Gulf Cooperation Council countries are now allowing sponsored and self-funded students to travel to the UK, and students are beginning to arrive. Barring unforeseen circumstances, the company is expecting student numbers for the language centres to return to normal levels from summer 2021.
Chaarat Gold PLC (LON:CGH), the AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, has provided an update on the current situation in Kyrgyz Republic. Following the recent political disruptions in the Kyrgyz Republic, the group confirmed that its projects in the country have not been materially impacted. Nevertheless, the company added, it has taken preliminary precautionary measures to ensure the continued safety of its personnel and operations. Chaarat said it will provide an update on the situation as and when appropriate.
Block Energy PLC (LON:BLOE), the exploration and production company focused on Georgia, said that employees have exercised options to acquire, in aggregate, 943,107 ordinary shares of 0.25p each. The options exercise will be satisfied out of existing shares held in the Block Energy Employee Benefit Trust (EBT). Following the exercise of these options, the remaining number of shares held by the EBT will be 38,348,495, representing 8.76% of the current total issued share capital.
discoverIE Group PLC (LON:DSCV), a leading international designer, manufacturer and supplier of customised electronics to industry, has said it will issue its trading update for the six months ended September 30, 2020, on October 15, 2020, ahead of publishing its half-year results on November 30, 2020.
6.50am: Subdued start seen for Footsie
The FTSE 100 is set to start Thursday almost flat as UK stocks are forecast not to follow US and Asia stocks higher, with traders monitoring very separate sets of negotiations either side of the Atlantic.
London’s blue-chip benchmark is called just a couple of points higher, with CFD firm IG Markets making a price of 5,952 to 5,955 with just over an hour to go until the open.
President Donald Trump halted coronavirus (COVID-19) stimulus deal talks with democrats and instead said a narrow set of supports will be put in place only for the airline industry.
“Nancy Pelosi, of the Democrats, said that it was a missed opportunity for a major relief package,” said David Madden, an analyst at CMC Markets.
“It seems that the Donald hit the reset button on the discussions so he could try and be in control of the situation. US stock markets had a better reaction to the developments … recouping the losses that were posted on Tuesday."
Closer to home market attentions are on entirely different negotiations – or lack thereof - with the end to the Brexit transition now looming (on December 31) and progress in talks are seemingly unremarkable.
Michael Gove yesterday attempted to strike up some positivity and optimism and the chief UK negotiator said a deal would be possible albeit so would be a no-deal exit as.
On Wall Street, Wednesday, the Dow Jones Industrial Average closed 530 points or 1.9% higher to 28,303, while the S&P 500 added 1.74% to finish the day at 3,419. The Nasdaq Composite was marked up 1.88% to close at 11,364. The small-cap focused Russell 2000 index, meanwhile, advanced 2.14% to 1,611.
In Asia today, Japan’s Nikkei 225 index tacked on 254 points or 1.09% to trade at 23,668, while Hong Kong’s Hang Seng slipped 152 points or 0.6% to 24,094. The Shanghai Composite was down 0.2% at 3,218.
Around the markets:
- The pound: US$1.2937, up 0.14%
- Gold price: US$1,888 per ounce, up 0.05%
- Silver: US$23.855 per ounce up 0.21%
- Brent crude: US$42.14 per barrel, down 1.19%
- WTI: US$40.01 per barrel, up 1.62%.
- Bitcoin: US$10,627, up 0.22%
6.45am: Early Markets - Asia / Australia
Stocks in the Asia-Pacific region were mostly higher on Thursday with Japan’s Nikkei 225 gaining 0.94% and South Korea’s Kospi rising 0.40%.
Korean Industry heavyweight Samsung Electronics (KRX:005930) reported a 58% increase in profit for the three months that ended in September compared to a year ago.
Australian stocks saw strong gains with the S&P/ASX 200 up 1.09% while Hong Kong’s Hang Seng index lagged regionally among the region’s major markets, falling 0.72%.
Proactive Australia news:
Blackstone Minerals Ltd (ASX:BSX) has completed a share purchase plan (SPP) to raise $3 million taking total capital raising proceeds to $20.08 million.
Pan Asia Metals Limited (ASX:PAM) has completed its Initial Public Offering (IPO) and listing on the Australian Securities Exchange under the ticker code PAM which coincides with the start of drilling at the key Khao Soon Tungsten Project in Thailand.
Yandal Resources Ltd (ASX:YRL) hit a new record high of 40 cents after intersecting the highest gold grades to date at Gordons Dam prospect within the Gordons Gold Project in the highly prospective Kalgoorlie-Boulder Region of Western Australia.
Macarthur Minerals Ltd (ASX:MIO) (CVE:MMS) (OTCMKTS:MMSDF) is progressing towards finalising the route to market for its flagship Moonshine magnetite deposits at the Lake Giles Iron Project in Western Australia.
Bellevue Gold Ltd (ASX:BGL) has discovered a new shallow high-grade gold shoot at its namesake project in Western Australia with results up to 1.9 metres at 58.0 g/t gold from 380.5 metres.
Musgrave Minerals Ltd (ASX:MGV) has hit high-grade shallow gold of up to 2 metres at 30.9 g/t at a new target 400 metres south of Starlight within the flagship Cue Gold Project in Western Australia’s Murchison district.
Canyon Resources Ltd (ASX:CAY) has updated the mineral resource estimate for the high-grade Minim Martap Bauxite Project in Cameroon, West Africa, to more than 1 billion tonnes after integrating results from a physical testing program.
PNX Metals Limited (ASX:PNX) (FRA:4P1) is committed to progressing its flagship Fountain Head Gold Project and nearby Hayes Creek Zinc-Gold-Silver Project in the Northern Territory towards development.
CV Check Limited (ASX:CVI) is seeing a strong rise in revenue following the widespread work-from-home culture triggered by the COVID-19 pandemic, which has boosted consumption of its digital services.
Latin Resources Ltd (ASX:LRS) (FRA:XL5) has gained momentum toward commencing its maiden drilling program at the Noombenberry Halloysite Kaolin Project in WA, by signing land access agreements with key landholders.