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S&P/ASX 200 rises 1.73% to snap four-day losing streak

S&P/ASX 200 (INDEXASX:XJO) recovered from a three-month low and a four-day selloff to rise 100 points or 1.73% to 5884 by around 1.30 pm.

Tech stocks in the US provided a solid platform for the index to rise with the largest 40 companies by market cap on the ASX all rising.

Local buy now, pay later players have surged with Afterpay (ASX:APT) rising 3.96% and rival Zip Co (ASX:Z1P) up 2.81%.

US update[hhmc]
On Tuesday, the major US indices snapped multi-day losing streaks, all closing in the green.

The Dow Jones Industrial Average surged 140 points and the S&P 500 climbed 1.1%.

The tech-heavy Nasdaq Composite was the relative outperformer, rising 1.7% as Amazon.com, Inc (NASDAQ:AMZN) surged 5.7%.

Stock gains were capped by concerns about an uptick in COVID-19 cases in the UK coupled with a bleaker outlook for a second stimulus bill from the US Congress.

U.S. COVID-19 deaths topped 200,000 on Tuesday, according to data compiled by Johns Hopkins University.

Top gainers[hhmc]
Today..

S&P/ASX 200 (INDEXASX:XJO) recovered from a three-month low and a four-day selloff to rise 100 points or 1.73% to 5884 by around 1.30 pm.

Tech stocks in the US provided a solid platform for the index to rise with the largest 40 companies by market cap on the ASX all rising.

Local buy now, pay later players have surged with Afterpay (ASX:APT) rising 3.96% and rival Zip Co (ASX:Z1P) up 2.81%.

US update


On Tuesday, the major US indices snapped multi-day losing streaks, all closing in the green.

The Dow Jones Industrial Average surged 140 points and the S&P 500 climbed 1.1%.

The tech-heavy Nasdaq Composite was the relative outperformer, rising 1.7% as Amazon.com, Inc (NASDAQ:AMZN) surged 5.7%.

Stock gains were capped by concerns about an uptick in COVID-19 cases in the UK coupled with a bleaker outlook for a second stimulus bill from the US Congress.

U.S. COVID-19 deaths topped 200,000 on Tuesday, according to data compiled by Johns Hopkins University.

Top gainers


Todays top gainers on the ASX include Nelson Resources Ltd (ASX:NES) (+13.85%), Engage:BDR Ltd (ASX:EN1) (+20.00%), Greenland Minerals Ltd (ASX:GGG) (+23.53%), Andromeda Metals Ltd (ASX:AND) (+15.00%), Vrx Silica Ltd (ASX:VRX) (+45.45%), Anson Resources Ltd (ASX:ASN) (+26.32%), FYI Resources Ltd (ASX:FYI) (+18.75%) and Brookside Energy Ltd (ASX:BRK) (+20.00%).

Proactive news headlines:

Australian Vanadium seeks to extend ground position at Coates Nickel-Copper-PGE Project collaboration


Australian Vanadium Ltd (ASX:AVL) aims to extend the ground position at the Coates Nickel-Copper-PGE Project collaboration with Lithium Australia NL (ASX:LIT) and Mercator Metals Pty Ltd through two new tenement applications.

Greenland Minerals higher on Kvanefjeld Environmental Impact Assessment being accepted for public consultation


Greenland Minerals Ltd (ASX:GGG) has been as much as 34% higher on reaching an important milestone in the permitting progress for its Kvanefjeld Rare Earth Project, with the Environmental Impact Assessment (EIA) accepted for public consultation.

GTI Resources begins drilling Niagara Gold Project after soil sampling identifies five new anomalies


GTI Resources Ltd (Read More – Source

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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.

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


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

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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..

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


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-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

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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.

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


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

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