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S&P/ASX 200 snaps 4-day winning streak; energy stocks continue to rise

S&P/ASX 200 (INDEXASX:XJO) failed to hold on to this mornings gains of 0.7%, with the index falling by 0.4% or 22.6 points to 5,550.

However, the index remains on track to record its fourth straight weekly advance.

Energy stocks stood out after the price of oil rose 4.8% (up ~30% in one week).

DroneShield (ASX:DRO) shares surged 62% after its DroneGun Tactical product was selected by the European Union police forces.

Afterpay (ASX:APT) shares hit a new all-time high this morning and closed at $44.

Other Australian stocks with solid price increases today include Technology Metals Australia Ltd (ASX:TMT) (+25%), Great Southern Mining Ltd (ASX:GSN) (+10%), THC Global Group Ltd (ASX:THC) (+16.67%), Kingwest Resources Ltd (ASX:KWR) (+19%), Volt Resources Ltd (ASX:VRC) (+20%), Musgrave Minerals Ltd (ASX:MGV) (+13%), Eclipse Metals Ltd (ASX:EPM) (+14.29%), Black Rock Mining Ltd (ASX:BKT) (+15%), Cobalt Blue Holdings Ltd (ASX:COB) (+14%), Bryah Resources Ltd (ASX:BYH) (+24%) and Argonaut ..

S&P/ASX 200 (INDEXASX:XJO) failed to hold on to this mornings gains of 0.7%, with the index falling by 0.4% or 22.6 points to 5,550.

However, the index remains on track to record its fourth straight weekly advance.

Energy stocks stood out after the price of oil rose 4.8% (up ~30% in one week).

DroneShield (ASX:DRO) shares surged 62% after its DroneGun Tactical product was selected by the European Union police forces.

Afterpay (ASX:APT) shares hit a new all-time high this morning and closed at $44.

Other Australian stocks with solid price increases today include Technology Metals Australia Ltd (ASX:TMT) (+25%), Great Southern Mining Ltd (ASX:GSN) (+10%), THC Global Group Ltd (ASX:THC) (+16.67%), Kingwest Resources Ltd (ASX:KWR) (+19%), Volt Resources Ltd (ASX:VRC) (+20%), Musgrave Minerals Ltd (ASX:MGV) (+13%), Eclipse Metals Ltd (ASX:EPM) (+14.29%), Black Rock Mining Ltd (ASX:BKT) (+15%), Cobalt Blue Holdings Ltd (ASX:COB) (+14%), Bryah Resources Ltd (ASX:BYH) (+24%) and Argonaut Resources NL (ASX:ARE) (+25.00%).

Proactive news headlines

Volt Resources higher on news of potential purchase of second African gold project


Volt Resources Ltd (ASX:VRC) has entered a binding term sheet to conditionally acquire an 85% interest in the Luiri Hill Gold Project in south-central Zambia, 120 kilometres from the capital Lusaka. Together with the proposed acquisition of a gold project in Guinea announced last week, purchasing the Luiri project will further diversify Volt's asset base with the precious metal, which has been proving its strength in difficult market conditions.

Salt Lake Potash paleochannel bore at Lake Way exhibits strong flow rates and high grades


Salt Lake Potash Ltds (ASX:SO4) (LON:SO4) pumping of initial brine extraction drilled into the paleochannel at Lake Way SOP Project in Western Australia has delivered flow rates of 18 litres per second with a consistent potassium grade of 7,100mg per litre. The results, which were sustained over a 17-day delivery, are above the average flow rates used in the companys bankable feasibility study (BFS) which demonstrated 8 litres per second and average brine grades of 6,100mg per litre. Investors have responded positively with ASX shares up as much as 10% to A$0.50 intra-day and have risen from 30 cents at close on March 19.

Greenland Minerals completes key step toward securing mining licence for rare earth project


Greenland Minerals Ltd (ASX:GML) has lodged an updated Environmental Impact Assessment (EIA) of the Kvanefjeld rare earth project with Greenlands Environmental Agency for Mineral Resource Activities (EAMRA). EAMRA has provided an indicative period of eight weeks to conduct the review process. Once EAMRA is satisfied, the Ministry for Mineral Resources and Labour will be notified, who manage the remainder of the licensing process.

THC Global rises with medicinal cannabis product now available via prescription in Australia


THC Global Group Ltd (ASX:THC) is trading 15% higher on confirmation that its first Australian-produced medicinal cannabis product is now available for prescription to Australian patients under Australias existing Special Access Schemes. Full-spectrum medicines are in high demand for prescribers and patients seeking benefit of minor cannabinoids, terpenes and flavonoids which may provide different therapeutic outcomes. The product is manufactured from cannabis plant material cultivated at THC Globals Bundaberg facility.

Kingston Resources delivers 15% more gold and 30% more silver at Misima project in PNG


Kingston Resources Ltd (ASX:KSN) has boosted the golden bounty of its Misima project in Papua New Guinea by 15% to 3.21 million ounces with silver resources also up 30% to 18.2 million ounces. The new resource which incorporates results of recent successful drilling programs and updated gRead More – Source

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S&P/ASX 200 flat at lunch but still on track for its sixth straight week of gains

S&P/ASX 200 (INDEXASX:XJO) is trading 1 point or 0.023% down to 5990 at 12.48 pm but is still up +4% so far this week and is on track for its sixth straight week of gains.

The S&P 200s drop follows the US share markets which were mixed on Thursday ahead of Friday's jobs report. Investors are also awaiting plans for the next round of US economic stimulus.

Top gainers on ASX today include Talisman Mining Ltd (ASX:TLM) (+12.24%), Rimfire Pacific Mining NL (ASX:RIM) (+16.67%), Canyon Resources Ltd (ASX:CAY) (+11.11%), Ironbark Zinc Limited (ASX:IBG) (+33.33%), De Grey Mining Limited (ASX:DEG) (+23.75%) and Brookside Energy Ltd (ASX:BRK) (+14.29%).

Proactive news headlines:
Technology Metals has $2 million raising backed by major Tinci Materials shareholder[hhmc]
Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs. The company is plea..

S&P/ASX 200 (INDEXASX:XJO) is trading 1 point or 0.023% down to 5990 at 12.48 pm but is still up +4% so far this week and is on track for its sixth straight week of gains.

The S&P 200s drop follows the US share markets which were mixed on Thursday ahead of Friday's jobs report. Investors are also awaiting plans for the next round of US economic stimulus.

Top gainers on ASX today include Talisman Mining Ltd (ASX:TLM) (+12.24%), Rimfire Pacific Mining NL (ASX:RIM) (+16.67%), Canyon Resources Ltd (ASX:CAY) (+11.11%), Ironbark Zinc Limited (ASX:IBG) (+33.33%), De Grey Mining Limited (ASX:DEG) (+23.75%) and Brookside Energy Ltd (ASX:BRK) (+14.29%).

Proactive news headlines:

Technology Metals has $2 million raising backed by major Tinci Materials shareholder


Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs. The company is pleased with the continued support of strategic domestic and international investors and welcomes an initial investment by Mr Xu Jinfu, chairman and major shareholder of Guangzhou Tinci Materials Technology Co Ltd. Tinci Materials is a leading manufacturer and marketer of battery materials.

Talisman Mining will start diamond drilling this month at Lucknow Gold Project, shares up


Talisman Mining Ltd (ASX:TLM) (OTCMKTS:TLSMF) is higher on news that diamond drilling will begin this month at Lucknow Gold Project in the historic Lucknow Goldfields of Central West NSW. The first diamond drill testing will target an interpreted high-grade gold lode offset position at Lucknow here historic production was in excess of 400,000 ounces at an average estimated mined grade of +100 g/t. Shares have been as much as 17% higher in early trade to 11.5 cents.

De Grey Mining higher again after defining major gold extension at Hemi discovery


De Grey Mining Limited (ASX:DEG) (OTCMKTS:DGMLF) (FRA:DGD) has continued a run of share price gains with drilling defining a major extension of Brolga zone at the Hemi gold discovery in WAs Pilbara region. This extension of the Brolga intrusion defined by initial shallow aircore drilling is approximately 1,000 metres long by 200 metres wide and enhances the potential to expand near-surface open pit resources. Results include 16 metres at 2.4 g/t from 40 metres, 8 metres at 2.2 g/t from 52 metres and 4 metres at 5.0 g/t from 60 metres.

Musgrave Minerals rises on defining large new gold targets at Lake Austin JRead More – Source

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St George Mining steps-up Mt Alexander drilling after identifying large nickel-copper sulphide target

St George Mining Ltd (ASX:SGQ) has stepped up the pace of drilling at Mt Alexander in WA after identifying a large conductive feature at Fish Hook prospect through magnetotelluric (MT) and audio-magnetotelluric (AMT) surveys.

The new conductive feature is below the high-order nickel-copper soil anomaly at Fish Hook and is modelled to dip to the northwest, consistent with the known ultramafic stratigraphy elsewhere in the Cathedrals Belt.

Seven reverse circulation (RC) reconnaissance drill holes have been completed at Fish Hook but were too shallow to intersect the new conductive feature, which commences 250 metres below surface.

Additional drilling is planned to test this compelling target for nickel-copper sulphides.

“Exciting time”[hhmc]
Executive chairman John Prineas said: “Diamond drilling of the deeper MT conductive targets will start shortly and we are excited to have another high-quality target to drill at the Fish Hook prospect.[hhmc]
“The resource drill-out at Stricklands..

St George Mining Ltd (ASX:SGQ) has stepped up the pace of drilling at Mt Alexander in WA after identifying a large conductive feature at Fish Hook prospect through magnetotelluric (MT) and audio-magnetotelluric (AMT) surveys.

The new conductive feature is below the high-order nickel-copper soil anomaly at Fish Hook and is modelled to dip to the northwest, consistent with the known ultramafic stratigraphy elsewhere in the Cathedrals Belt.

Seven reverse circulation (RC) reconnaissance drill holes have been completed at Fish Hook but were too shallow to intersect the new conductive feature, which commences 250 metres below surface.

Additional drilling is planned to test this compelling target for nickel-copper sulphides.

“Exciting time”

Executive chairman John Prineas said: “Diamond drilling of the deeper MT conductive targets will start shortly and we are excited to have another high-quality target to drill at the Fish Hook prospect.


“The resource drill-out at Stricklands is also underway and we look forward to completing the scoping study for what we believe could be a low-capex, high-margin mining operation at Stricklands.

“This is an exciting time for St George Mining.”

Diamond rigs due on-site


The first of two diamond drill rigs is due to arrive at the site this weekend with the second diamond drill rig also expected shortly.

Diamond drilling will focus on testing the new, deeper conductive features identified by the MT/AMT surveys with targets at Investigators prospect the first of the deeper nickel-copper sulphide targets to be drilled.

Six metallurgical drill holes will also be completed by diamond drilling at the Stricklands prospect as part of the scoping study into a potential mining operation.

Map of the Cathedrals Belt showing areas of planned drilling and overlaying interpreted geology and magnetics.

Additional MT/AMT Survey


Modelling of the remaining MT/AMT survey data is progressing and further results are expected next week.

Drill targets will be designed for West End and FairRead More – Source

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Technology Metals has $2 million raising backed by major Tinci Materials shareholder

Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs.

The company is pleased with the continued support of strategic domestic and international investors and welcomes an initial investment by Mr Xu Jinfu, chairman and major shareholder of Guangzhou Tinci Materials Technology Co Ltd.

Tinci Materials is a leading manufacturer and marketer of battery materials.

Funds to progress vanadium project[hhmc]
Funds raised will be used to progress development of the Gabanintha Vanadium Project in WA, including advancing environmental work in support of the preparation of an Environmental Review Document.

Participants in the placement will receive a 1 for 2 free attaching option exercisable at 25 cents per share on or before June 15, 2022.

The strategic investors offer a wealth of experience and contacts in technology metals key customer markets ..

Technology Metals Australia Ltd (ASX:TMT) has received commitments for a fully subscribed placement of up to 13.66 million shares at 15 cents per share to raise approximately $2.049 million before costs.

The company is pleased with the continued support of strategic domestic and international investors and welcomes an initial investment by Mr Xu Jinfu, chairman and major shareholder of Guangzhou Tinci Materials Technology Co Ltd.

Tinci Materials is a leading manufacturer and marketer of battery materials.

Funds to progress vanadium project


Funds raised will be used to progress development of the Gabanintha Vanadium Project in WA, including advancing environmental work in support of the preparation of an Environmental Review Document.

Participants in the placement will receive a 1 for 2 free attaching option exercisable at 25 cents per share on or before June 15, 2022.

The strategic investors offer a wealth of experience and contacts in technology metals key customer markets as well as significant operational experience and investments within the rapidly emerging battery metals markets.

Placement capacity


The placement will be conducted under the companys current placement capacity in line with ASX Listing Rule 7.1 and 7.1A:

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