Australia

S&P/ASX 200 lifts strongly for a third day; market near 10-week high

S&P/ASX 200 (INDEXASX:XJO) closed 1.81% higher at 5559.5 today on hopes for a COVID-19 vaccine.

The index is near a 10-week high after the experimental vaccine from Moderna Inc (NASDAQ:MRNA) showed promising early signs.

Resources sector shines[hhmc]
Improving commodity prices helped the resources sector to strong gains for a second day as iron ore hit the $US96-a-tonne mark, up 3%.

Fortescue Metals Group Limited (ASX:FMG) is at an all-time high, rising 4.4% to $13.87.

BHP Group Ltd (ASX:BHP) rose 5.6% to $35.05 and Rio Tinto is up 4.7% to $94.52.

Australian explorers with a price increase today include Element 25 Ltd (ASX:E25) (+100%), Anson Resources Ltd (ASX:ASN) (+30%), Tempus Resources Ltd (ASX:TMR) (+7%), Legend Mining Limited (ASX:LEG) (+11%), Salt Lake Potash Ltd (ASX:SO4) (+9%) and Pensana Rare Earths Plc (ASX:PM8) (+13%).

Oil continues to rise[hhmc]
Emperor Energy Ltd (ASX:EMP) shares doubled and Carnarvon Petroleum Limited (ASX:CVN) rose 7% as energy stocks are continu..

S&P/ASX 200 (INDEXASX:XJO) closed 1.81% higher at 5559.5 today on hopes for a COVID-19 vaccine.

The index is near a 10-week high after the experimental vaccine from Moderna Inc (NASDAQ:MRNA) showed promising early signs.

Resources sector shines

Improving commodity prices helped the resources sector to strong gains for a second day as iron ore hit the $US96-a-tonne mark, up 3%.

Fortescue Metals Group Limited (ASX:FMG) is at an all-time high, rising 4.4% to $13.87.

BHP Group Ltd (ASX:BHP) rose 5.6% to $35.05 and Rio Tinto is up 4.7% to $94.52.

Oil continues to rise

Emperor Energy Ltd (ASX:EMP) shares doubled and Carnarvon Petroleum Limited (ASX:CVN) rose 7% as energy stocks are continuing to stand out for a second day thanks to solid gains in oil prices.

The price of oil surged 8.1% last night to US$31.82 per barrel on optimism that the easing of lockdown restrictions would boost oil demand.

Security software solutions provider Cipherpoint Ltds (ASX:CPT) shares closed 23% higher and Paradigm Biopharmaceuticals Ltd (ASX:PAR) ended the day 7% higher.

Proactive news headlines:

PNX Metals high-grade gold results confirm potential upside at Fountain Head

PNX Metals Ltd (ASX:PNX) has received additional high-grade gold hits from reverse circulation (RC) drilling which confirm further continuity of high-grade mineralised zones at Fountain Head Gold Project in the Northern Territory. All assays from the 59-hole RC program have been received with results of up to 2 metres at 4.46 g/t gold from 114 metres, 2 metres at 6.62 g/t from 144 metres and 1-metre at 12.54 g/t from 64 metres.

Archer Materials will begin US pilot plant tests next month on bulk halloysite-kaolin sample

Archer Materials Ltd (ASX:AXE) has taken another step towards commercialising the Franklyn Halloysite-Kaolin Project in South Australia with a bulk sample arriving in the US for tests by a leading kaolin minerals industry laboratory. This sample collected from drilling at the Franklin project has been received and prepared with pilot plant processing trials due to start in mid-June and results expected by June 30. Resulting halloysite and kaolin samples will then be sent to potential downstream customers for product testing and verification purposes.

PolarX plans follow‐up drilling for gold-copper at Zackly East in Alaska

Polarx Ltd (ASX:PXX) intends to start a substantial drilling program in July to follow-up previous high‐grade gold and copper intersections at Zackly East prospect within its Alaska Range Project. A small, initial drilling program returned hits grading up to 3.1 g/t gold and 0.6% copper. PolarX managing director Frazer Tabeart said there was immense potential to grow the overall Zackly resource.

Admedus begins anti-calcification comparison study for ADAPT®

Admedus Ltd (ASX:AHZ) has begun a preclinical study which will compare anti-calcification properties of its proprietary ADAPT® treated tissue with other bovine and porcine tissues used in commercially available SAVR and TAVR valves. Calcification plays a significant role in the failure of bioprosthetic and other tissue heart valve substitutes.

Element 25 shares jump 95% after Butcherbird PFS highlights robust, short lead time opportunity

Element 25 Ltd released a pre-feasibility (PFS) for its Butcherbird Manganese Project in Pilbara, WA which highlights a robust, short lead time start-up opportunity. The PFS contemplates the export and sale of manganese concentrate from the project over a long mine life and delivers outstanding economic metrics further confirming the potential for the project to be Australias next significant manganese mine.

EmpeRead More – Source

Proactiveinvestors

Australia

Argonaut Resources directors show faith in company by participating in oversubscribed SPP

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP[hhmc]
The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money ..

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Overwhelming response to SPP

The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money raised under this SPP and from the recently completed $2.7 million share placeRead More – Source

Proactiveinvestors

Australia

Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey[hhmc]
Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilomet..

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey

Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling

The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program wRead More – Source

Proactiveinvestors

Australia

Pan Asia Metals has positive discussions on plans for Thai lithium project

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions[hhmc]
Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Ng..

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions

Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Nga Provincial Public Works and Town Planning Office.

Phang Nga Provincial Industry head has been appointed by the Phang Nga governor as chairman of the Phang Nga New Town Planning Committee.

During the meeting, the chairman of the committee conveyed its support for the Reung Kiet Lithium Project.

PAO wants to ensure that the requirements of the Reung Kiet project are incorporated into the town planning committee’s zoning plans to ensure that the project can progress once exploration and feasibility results prove positive.

“Can bring opportunities”

PAM managing director Paul Lock said: “We have been working hard in Phang Nga province and we are very happy with the positive reception that the Reung Kiet Lithium Project is receiving from the Phang Nga Provincial Government and surrounding communities.

“Reung Kiet is strategically located and based on peer feasibility work the project is positioned to potentially be one of the lowest-cost suppliers of lithium chemicals in the global peer group.

“This is a project that can bring substantial opportunities and value to Phang Nga and Thailand.”

Pan Asia is planning its second Reung Kiet drilling program with expectations that this will begin in the coming months following the conclusion of the current Khao Soon drilling program.

Potential cost curve leader

Reung Kiet is a hard rock project with lepidolite rich pegmatites chiefly composed of quartz, albite and lepidolite with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.

Lepidolite does not require roasting and has a suite of by-products which are recoverable at the concentrator and processing stages of the flow sheet.

Peer feasibility work has Read More – Source