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S&P/ASX 200 marks fourth straight weekly advance despite headwinds

S&P/ASX 200 (INDEXASX:XJO) fell by 53 points or 0.96% to 5497 today following a number of headwinds including Fitch cutting Australias credit rating outlook to negative.

China did not set a GDP target this year for the first time ever and protests resumed in Hong Kong against Chinas attempt to impose National Security Law.

Despite todays loss, the ASX 200 still managed to gain 1.71% this week, making it its fourth straight weekly advance.

All sectors ended the day in the red. Although mining and energy stocks fell heavily today, they were standouts this week thanks to surging commodity prices.

The price of oil is up 30% this week, gold remains near eight-year highs and iron ore has surged 20% in a fortnight.

Top gainers[hhmc]
Todays top gainers on the ASX include MMJ Group Holdings Ltd (ASX:MMJ) (+17.39%), Matador Mining Ltd (ASX:MZZ) (+6.12%), Kazia Therapeutics Ltd (ASX:KZA) (+5.26%) Element 25 Ltd (ASX:E25) (+8.33%), De Grey Mining Limited (ASX:DEG) (+7.41%), Yandal Resources L..

S&P/ASX 200 (INDEXASX:XJO) fell by 53 points or 0.96% to 5497 today following a number of headwinds including Fitch cutting Australias credit rating outlook to negative.

China did not set a GDP target this year for the first time ever and protests resumed in Hong Kong against Chinas attempt to impose National Security Law.

Despite todays loss, the ASX 200 still managed to gain 1.71% this week, making it its fourth straight weekly advance.

All sectors ended the day in the red. Although mining and energy stocks fell heavily today, they were standouts this week thanks to surging commodity prices.

The price of oil is up 30% this week, gold remains near eight-year highs and iron ore has surged 20% in a fortnight.

Top gainers


Todays top gainers on the ASX include MMJ Group Holdings Ltd (ASX:MMJ) (+17.39%), Matador Mining Ltd (ASX:MZZ) (+6.12%), Kazia Therapeutics Ltd (ASX:KZA) (+5.26%) Element 25 Ltd (ASX:E25) (+8.33%), De Grey Mining Limited (ASX:DEG) (+7.41%), Yandal Resources Ltd (ASX:YRL) (+10.20%), Salt Lake Potash Ltd (ASX:SO4) (+13.68%), Titanium Sands Ltd (ASX:TSL) (+20.51%), Bryah Resources Ltd (ASX:BYH) (+38%) and Archer Materials Ltd (ASX:AXE) (+19%).

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Legend Mining confirms more nickel-copper sulphide diamond drill targets at Rockford Project


Legend Mining Limited (ASX:LEG) has confirmed further diamond drill targets for nickel-copper sulphide mineralisation at its Rockford Project in WA's Fraser Range through a combination of innovative moving and fixed loop electromagnetic (MLTEM & FLTEM). The surveys were over seven prospect areas – Northeast Mawson, Mawson Central, Worsley, Crean, Hurley, Magnus and Octagonal.

Core Lithium lands first European offtake deal for spodumene concentrate from Finniss


Core Lithium Ltd (ASX:CXO) has secured its first European offtake deal after signing a non-binding offtake term sheet with Transamine Trading for the supply of 50,000 tonnes per annum of spodumene concentrate from the Finniss Lithium Project near Darwin. This offtake comes in addition to Cores existing binding offtake agreement with Yahua for 75,000 tonnes per annum.

Bryah Resources surges on discovery of potential direct shipping grade manganese


Bryah Resources Ltd (ASX:BYH) has discovered a new high-grade manganese zone at the Bryah Basin joint venture project in central WA with the grades supporting a near-term direct shipping production strategy. A recent reverse circulation (RC) drilling program has intersected potential direct shipping grades of greater than 30% manganese at shallow depths at the Brumby Creek prospect.

Lithium Australia subsidiary Envirostream trials use of recycled battery products in fertilisers


Lithium Australia NLs (ASX:LIT) recycling divisRead More – Source

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Australia

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%).

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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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