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S&P/ASX 200 bounces back from early fall to close 0.24% higher

S&P/ASX 200 (INDEXASX:XJO) recouped its losses after falling 1% in the morning to close 13.5 points or 0.24% higher at 5573.

The market extended its winning streak to four days as commodity prices continue to rise.

The price of oil increased by 2.1% last night (up 17% in three days) supported by an expectation for greater fuel demand as economies reopen.

Shares in technology companies recorded healthy gains along with payment companies Zip Co Ltd (ASX:Z1P) (+8.4%) and Tyro Payments Ltd (ASX:TYR) (6.1%).

Top gainers[hhmc]
Exploration/mining stocks had a great day with the best gains for Anson Resources Ltd (ASX:ASN) (+57%), Musgrave Minerals Ltd (ASX:MGV) (+19%), Talisman Mining Ltd (ASX:TLM) (+13%), Technology Metals Australia Ltd (ASX:TMT) (+17%), Ora Banda Mining Ltd (ASX:OBM) (+12.50%) and Alkane Resources Limited (ASX:ALK) (+8.55%).

Opyl Ltd (ASX:OPL) (+39%) and Cipherpoint Ltd (ASX:CPT) (+12.5%) shares also climbed higher.

Proactive news headlines:
Technology Metals rises on..

S&P/ASX 200 (INDEXASX:XJO) recouped its losses after falling 1% in the morning to close 13.5 points or 0.24% higher at 5573.

The market extended its winning streak to four days as commodity prices continue to rise.

The price of oil increased by 2.1% last night (up 17% in three days) supported by an expectation for greater fuel demand as economies reopen.

Shares in technology companies recorded healthy gains along with payment companies Zip Co Ltd (ASX:Z1P) (+8.4%) and Tyro Payments Ltd (ASX:TYR) (6.1%).

Top gainers


Exploration/mining stocks had a great day with the best gains for Anson Resources Ltd (ASX:ASN) (+57%), Musgrave Minerals Ltd (ASX:MGV) (+19%), Talisman Mining Ltd (ASX:TLM) (+13%), Technology Metals Australia Ltd (ASX:TMT) (+17%), Ora Banda Mining Ltd (ASX:OBM) (+12.50%) and Alkane Resources Limited (ASX:ALK) (+8.55%).

Opyl Ltd (ASX:OPL) (+39%) and Cipherpoint Ltd (ASX:CPT) (+12.5%) shares also climbed higher.

Proactive news headlines:

Technology Metals rises on signing MoU with leading vanadium redox flow battery company


Technology Metals Australia Ltd is higher after signing an MoU with a leading vanadium redox flow battery (VRFB) company aimed at setting up a vanadium offtake agreement and investigating VRFB manufacturing in Australia. The MoU is with Big Pawer Electrical Technology Xiangyang Inc Co Ltd, which has VRFB research, development and manufacturing capabilities and has deployed VRFB systems to more than 20 locations globally.

SUDA Pharmaceuticals shares rise on securing anagrelide cancer patent in Japan


SUDA Pharmaceuticals Ltd (ASX:SUD) confirmed that the Japanese Patent Office has accepted its patent application for anagrelide to treat cancer and the patent will proceed to grant. The patent titled “Use of Anagrelide for Treating Cancer” has an expiry date of December 2035.

Ora Banda Mining delivers high-grade gold from regional drilling at Davyhurst project


Ora Banda Mining Ltd (ASX:OBM) has received encouraging high-grade gold results in a regional program at Mulline and Golden Lode mineralised corridors around its Davyhurst project in WAs eastern Goldfields. Highlights from the Flame prospect at Golden Lode corridor include 2 metres at 19.22 g/t from 58 metres; 9 metres at 5.52 g/t from 64 metres, including 7 metres at 6.9 g/t; and 3 metres at 8.19 g/t from 80 metres.

DomaCom Funds Under Management reach $70.9 million, up 10.4% this quarter


DomaCom Australia Ltds (ASX:DCL) Funds Under Management (FUD) have grown by 10.4% since the start of the current quarter to $70.9 million. This is up from $64.2 million at March 31, 2020, and investors responded positively with shares up almost 7% to 6.2 cents. The growth has been driven by investment into DomaComs DFS Pooled Mortgage sub-fund as well as its fourth Badgerys Creek land banking and Rent To Own projects.

Opyl moves towards cash flow positive operations with new contracts


Opyl Ltd (ASX:OPL) has signed two new contracts that are expected to increase company revenue over the next three quarters. The company also has several active additional proposals in the market as a result of an intensive business development campaign collaborating with huumun.

Anson Resources surges 7Read More – Source

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S&P/ASX 200 falls 1.6% on rising US-China tensions

S&P/ASX 200 (INDEXASX:XJO) closed 1.6% lower at 5755.70 points today as renewed US-China tensions panicked local and overseas markets.

President Trump said on Thursday that he would hold a news conference on China today. Even without any details, this announcement was enough to send markets tumbling.

Still, the ASX 200 gained 4.71% this week, making it a fifth consecutive weekly improvement, while also advancing for a second month in a row.

Materials gain[hhmc]
The financials sector led the losses as the big four gave back some of their weekly winnings.

Westpac (ASX:WBC) fell 6.36%, National Australia Bank (ASX:NAB) lost 5.22% and ANZ (ASX:ANZ) dropped 4.54%.

The materials sector was one of only four to see green at the end of the day. Andrew Forrest's Fortescue Metals (ASX:FMG) gained 2.81%.

Gold stocks are continuing their good run with Northern Star Resources (ASX:NST) gaining 7.64% and Newcrest Mining (ASX:NCM) rising 2.62%.

Proactive news headlines:
Alto Metals surges ..

S&P/ASX 200 (INDEXASX:XJO) closed 1.6% lower at 5755.70 points today as renewed US-China tensions panicked local and overseas markets.

President Trump said on Thursday that he would hold a news conference on China today. Even without any details, this announcement was enough to send markets tumbling.

Still, the ASX 200 gained 4.71% this week, making it a fifth consecutive weekly improvement, while also advancing for a second month in a row.

Materials gain


The financials sector led the losses as the big four gave back some of their weekly winnings.

Westpac (ASX:WBC) fell 6.36%, National Australia Bank (ASX:NAB) lost 5.22% and ANZ (ASX:ANZ) dropped 4.54%.

The materials sector was one of only four to see green at the end of the day. Andrew Forrest's Fortescue Metals (ASX:FMG) gained 2.81%.

Gold stocks are continuing their good run with Northern Star Resources (ASX:NST) gaining 7.64% and Newcrest Mining (ASX:NCM) rising 2.62%.

Proactive news headlines:

Alto Metals surges after fielding improved Goldsea takeover offer with price lifted to 7.5 cents


Alto Metals Ltd (ASX:AME) has traded at two-year highs after receiving an improved takeover offer from Goldsea Australia Mining Pty Ltd that lifts the offer price per share by more than 15% to 7.5 cents from 6.5 cents. The new offer made in a second supplementary bidder's statement also exceeds the 6.6 cents made in a proposal from Habrok (Alto) Pty Limited, although a formal offer for this has yet to be received.

FYI Resources on track to becoming major player in global HPA market


FYI Resources Ltd (ASX:FYI) managing director Roland Hill says that the company is on track to deliver its HPA development objectives and in becoming a major player in the global HPA market. In a presentation at the NWR Virtual Resources Conference this month, Hill said the company was spending time examining options to finance its future activities and development costs which include offtake, joint venture, cornerstone investor, project debt, equity and strategic investor.

Bellevue Golds maiden indicated resource expectations grow: Canaccord Genuity


Bellevue Gold Ltds (ASX:BGL) recent infill drilling at its namesake project in WA returned up to 1-metre at 1,169 g/t gold from 100 metres with the likelihood of boosting a mid-year resource upgrade at the project. While the 1-metre result was returned from Bellevue North, one of the peripheral lodes, there were also a host of exceptional results from the Deacon lode, which accounts for 41,000 ounces at 12.3 g/t gold of the 2.2-million-ounce inferred resource.

THC Global establishes presence in growing cannabidol medicine market


THC Global Group Ltd's (ASX:THC) first Australian-produced medicinal cannabis product has been prescribed to an Australian patient, marking a new milestone for the wholly Australian sourced and produced medicine. The product is a full-spectrum cannabidiol (CBD) medicine and these are highly sought after by patients and prescribers as they include minor cannabinoids, terpenes and flavonoids that may provide different therapeutic outcomes for patients than CBD medicine formulated from isolate.

Trigg Mining to receive infrastructure boost for Lake Throssell SOP Project from road sealing


Trigg Mining Ltd (ASX:TMG) welcomes a WA State Government and Federal Government announcement of the sealing of a 41-kilometre section of the Great Central Road which will benefit the Lake Throssell Sulphate of Potash (SOP) project. This road is a key arterial route that runs from Leonora and Laverton towards Trigg's high-grade project and the $20 million road sealing contract will provide an infrastructure boost to the company.

Euro Manganese surges as it sets out on search for gRead More – Source

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Alto Metals surges after fielding improved Goldsea takeover offer with price lifted to 7.5 cents

Alto Metals Ltd (ASX:AME) has traded at two-year highs after receiving an improved takeover offer from Goldsea Australia Mining Pty Ltd that lifts the offer price per share by more than 15% to 7.5 cents from 6.5 cents.

The new offer made in a second supplementary bidder's statement also exceeds the 6.6 cents made in a proposal from Habrok (Alto) Pty Limited, although a formal offer for this has yet to be received.

While lifting the offer price for shares, Goldsea, a wholly-owned subsidiary of Shandong Goldsea Group Co Ltd, has not changed the offer consideration payable for the Alto options.

Goldsea offer recommended[hhmc]
Altos board of directors continues to unanimously recommend the Goldsea takeover offers, in the absence of a superior proposal.

They also continue to advise that shareholders should take no action in respect of the Habrok proposal until they receive further advice from the Alto board.

Shares have surged more than 30% today to a new two-year high of 81 cents..

Alto Metals Ltd (ASX:AME) has traded at two-year highs after receiving an improved takeover offer from Goldsea Australia Mining Pty Ltd that lifts the offer price per share by more than 15% to 7.5 cents from 6.5 cents.

The new offer made in a second supplementary bidder's statement also exceeds the 6.6 cents made in a proposal from Habrok (Alto) Pty Limited, although a formal offer for this has yet to be received.

While lifting the offer price for shares, Goldsea, a wholly-owned subsidiary of Shandong Goldsea Group Co Ltd, has not changed the offer consideration payable for the Alto options.

Goldsea offer recommended


Altos board of directors continues to unanimously recommend the Goldsea takeover offers, in the absence of a superior proposal.

They also continue to advise that shareholders should take no action in respect of the Habrok proposal until they receive further advice from the Alto board.

Shares have surged more than 30% today to a new two-year high of 81 cents on the news and are now trading more than 22% higher at 7.6 cents.

Seeking FIRB approval

The Goldsea takeover offers remain conditional on, amongst other things, Goldsea receiving FIRB approval.

In this regard, the bidder has agreed with FIRB to a further voluntary extension until June 30, 2020, for FIRB to continue its process.

Alto has no control over the FIRB process and advises that there can be no certainty of a decision being reached within this timeframe, or what that decision may be.

The closing date for the Goldsea takeover offers is now 7.00pm, Sydney time, on July 8, 2020, unless further extended or withdrawn.

Goldsea holds 14.62%


At the close of trade on May 27, Goldsea held more than 42.9 million Alto shares, representing 14.62% of the company.

Each Alto director continues to intend to accept or to procure the acceptance of, the Goldsea offers, in respect of all of the shares and options controlled or held by or on behalf of that director or his associates, in the absence of a superior proposal.

Such acceptance will occur no later than five business days before the end of the offer period, as may be extended, in the absence of a superior proposal.

“Opportunity to realise value”


At the time of the board recommending Goldseas offer in early May after a supplementary statement was submitted, Altos non-executive chairman Richard Monti said directors had spent a significant amount of time giving careful consideration to the offers.

This included an assessment of the potential future risks and rewards for shareholders and option holders of staying independent and progressing the exploration of the Sandstone Gold Project aRead More – Source

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Corazon Mining aims to unlock new nickel sulphide discoveries at Lynn Lake Mining Centre in Canada

Corazon Mining Ltd (ASX:CZN) is pursuing a two-pronged strategy for the exploration and development of the Lynn Lake Project in Canada.

The company aims to expand the near-surface resource base of 16.3 million tonnes at 0.72% nickel, 0.33% copper and 0.033% cobalt for 116,800 tonnes of contained nickel, 54,000 tonnes copper and 5,300 tonnes cobalt via drilling and to support the potential future development of a significant, low-cost mining operation.

Simultaneously, the company is also exploring for new, world-class nickel sulphide deposits within the Lynn Lake project area, including at the FLC, which is just five kilometres to the south.

Executive managing director Brett Smith said: “Weve been exploring Fraser Lake since about 2016 and weve intersected a lot of magnetic sulphide out there.

“Its just recently through new geophysical processing that weve been able to pull together the framework and understand this system.”

New geophysical targets[hhmc]
The company is confident th..

Corazon Mining Ltd (ASX:CZN) is pursuing a two-pronged strategy for the exploration and development of the Lynn Lake Project in Canada.

The company aims to expand the near-surface resource base of 16.3 million tonnes at 0.72% nickel, 0.33% copper and 0.033% cobalt for 116,800 tonnes of contained nickel, 54,000 tonnes copper and 5,300 tonnes cobalt via drilling and to support the potential future development of a significant, low-cost mining operation.

Simultaneously, the company is also exploring for new, world-class nickel sulphide deposits within the Lynn Lake project area, including at the FLC, which is just five kilometres to the south.

Executive managing director Brett Smith said: “Weve been exploring Fraser Lake since about 2016 and weve intersected a lot of magnetic sulphide out there.

“Its just recently through new geophysical processing that weve been able to pull together the framework and understand this system.”

New geophysical targets


The company is confident that new targets generated from geophysical processing could unlock a new nickel sulphide system at FLC, having previously used the same approach of Magnetic Vector Inversion (MVI) testing at the Lynn Lake Mining Centre.

Smith said: “Weve tested this new geophysical processing method on the mine site, and its proved quite extraordinary.

“Weve gone down to around 6 kilometres in depth and looking back we can say that the processing we were doing previously was only effective to about 200 metres.”

The method has proved capable of defining magnetic ore bodies within the FLC down-dip from drill defined mineralisation.

The application of MVI has advanced the geological understanding of the FLC.

Compelling location


The MVI identified a magnetic high on the flat basal contact of the FLC, which is potentially a basal accumulation of sulphide just west of the companys initial Matrix Trend target and similar to major global nickel-copper magmatic sulphide deposits.

Smith said: “Weve reprocessed some of these geophysics and thats really unlocked a lot of information at depth and its pulled together some of our surface known mineralisation, so weve ended up with this target thats Read More – Source

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