Closing Bell: ASX in fine fettle, up more than 1pc on healthcare and mining strength
The ASX surged more than 1pc today, getting a strong boost from a resurgent healthcare sector. Pic: Getty Images
- ASX goes on the offence, up 1.13pc
- 8 of 11 sectors higher, led by healthcare and materials
- Strength in resources, banks and healthcare drive gains
ASX roars higher, rotating back out of defensive sectors
After playing it safe yesterday, the ASX came charging out of the gate this morning, up 1% by lunchtime.
The market held onto that momentum throughout the trading day, finishing up 1.13% with a very respectable 100-point gain.
A resurgence in the healthcare sector – led by CSL (ASX:CSL) up 3.85% – gave the ASX legs, and more gains in resources and banking stocks kept it churning.
Race Oncology (ASX:RAC) also surged 48% on discovering the true mechanism of its (E,E)-bisantrene anticancer drug (more on that below) while Clarity Pharma (ASX:CU6) jumped 12% on no news.
The ASX 200 Banks index jumped 1.45% overall. The seven majors added between 0.6% and 1.95% with ANZ (ASX:ANZ) taking that particular crown.
Crowd favourite Commonwealth (ASX:CBA) was right behind, up 1.65%.
Gold futures have outstripped spot prices, lifting again to US$3897.3 an ounce. That kicked the XGD up another 3%.
The All Ords Gold index gained more than 20% over the month of August, and has lifted by almost 100% for the year to date.
Standouts included Focus Minerals (ASX:FML) which surged 32% on nothing but gold price gains, ROX Resources (ASX:RXL) up just under 14%, Ora Banda (ASX:OBM) jumping 8.9% and Westgold Resources (ASX:WGX) building on yesterday’s momentum with another 8% lift.
On the red side of the balance sheet, defence stocks Electro Optics Systems (ASX:EOS) and Droneshield (ASX:DRO) gave up some of their recent gains, falling 12.7% and 11.6% respectively.
Bougainville Copper (ASX:BOC) also retreated from yesterday’s high, shedding 6% but up 70% for the year.
ASX Leaders
Today’s best performing stocks (including small caps):
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DTM | Dart Mining NL | 0.005 | 150% | 2.72E+08 | $2,749,113 |
| IXRR | Ionic Rare Earths - Rights | 0.005 | 150% | 26754211 | $759,261 |
| SCN | Scorpion Minerals | 0.031 | 72% | 7603437 | $9,437,511 |
| NES | Nelson Resources. | 0.01 | 67% | 51288050 | $13,031,566 |
| BLZ | Blaze Minerals Ltd | 0.003 | 50% | 100000 | $5,750,000 |
| RAC | Race Oncology Ltd | 4.61 | 48% | 2971470 | $541,188,535 |
| C7A | Clara Resources | 0.005 | 43% | 42519946 | $2,601,533 |
| TMB | Tambourahmetals | 0.175 | 40% | 43817284 | $20,872,327 |
| SER | Strategic Energy | 0.007 | 40% | 14387378 | $5,494,667 |
| T88 | Taitonresources | 0.095 | 36% | 213636 | $5,212,016 |
| AUH | Austchina Holdings | 0.002 | 33% | 2587500 | $4,538,075 |
| CR9 | Corellares | 0.004 | 33% | 289928 | $3,022,709 |
| FML | Focus Minerals Ltd | 1.6 | 32% | 1997133 | $346,735,960 |
| JBY | James Bay Minerals | 1 | 30% | 4751988 | $76,328,768 |
| IPD | Impedimed Limited | 0.048 | 30% | 7553233 | $75,337,456 |
| PEN | Peninsula Energy Ltd | 0.645 | 29% | 11626373 | $191,309,279 |
| CTO | Citigold Corp Ltd | 0.009 | 29% | 7106573 | $21,000,000 |
| PVT | Pivotal Metals Ltd | 0.009 | 29% | 1376175 | $6,350,581 |
| BLG | Bluglass Limited | 0.014 | 27% | 17170921 | $28,341,474 |
| CNB | Carnaby Resource Ltd | 0.42 | 25% | 2061411 | $76,510,268 |
| OIL | Optiscan Imaging | 0.115 | 25% | 932745 | $96,064,250 |
| 1AD | Adalta Limited | 0.0025 | 25% | 2773843 | $2,920,411 |
| STG | Straker Limited | 0.355 | 22% | 535072 | $18,658,397 |
| MTB | Mount Burgess Mining | 0.011 | 22% | 4029391 | $3,830,745 |
| TEM | Tempest Minerals | 0.011 | 22% | 7092632 | $9,916,155 |
In the news…
Dart Mining (ASX:DTM) has put drill bit to ground at the Coonambula antimony-gold project in central Queensland, where DTM is looking to earn up to 51%.
The company hit antimony mineralisation in the first hole. Assays aren’t due until November, but visual estimations pegged one intersection at 0.6m at 70% antimony from 42m downhole.
Race Oncology (ASX:RAC) has unlocked the true mechanism of action behind its (E,E)-bisantrene anticancer drug. RAC says it acts by binding to G4-DNA and RNA structures and bisantrene is not a doxorubicin-like chemotherapeutic.
Management says the revelation has major clinical and commercial implications and the new information will aid in better targeting clinical use.
Tambourah Metals (ASX:TMB) has $4.5 million total in the bank after nabbing a cool $3 million in a strategic placement with Tribeca Investment Partners. The funding will go directly into the drill bit at Beatty Park South, an emerging gold discovery TMB is keen to investigate.
Taiton Resources (ASX:T88) has also wrapped up a capital raise, securing commitments to add $2 million to the coffers in a placement at $0.15 per share. Like TMB, Taiton is putting the money toward drilling programs, at the Challenger West and Highway projects.
ASX Laggards
Today’s worst performing stocks (including small caps):
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MEL | Metgasco Ltd | 0.002 | -33% | 175178 | $5,511,260 |
| IS3 | I Synergy Group Ltd | 0.018 | -31% | 149434 | $45,127,292 |
| LNU | Linius Tech Limited | 0.0015 | -25% | 704348 | $13,179,029 |
| MTL | Mantle Minerals Ltd | 0.0015 | -25% | 2417027 | $14,466,230 |
| PGY | Pilot Energy Ltd | 0.007 | -22% | 10134125 | $19,427,940 |
| C29 | C29Metalslimited | 0.019 | -21% | 554663 | $4,180,518 |
| FBR | FBR Ltd | 0.004 | -20% | 7830460 | $32,759,864 |
| PRX | Prodigy Gold NL | 0.002 | -20% | 4588780 | $16,854,657 |
| QXR | Qx Resources Limited | 0.004 | -20% | 1003430 | $8,189,555 |
| APL | Associate Global | 0.115 | -18% | 12000 | $8,041,940 |
| RKB | Rokeby Resources Ltd | 0.005 | -17% | 3430296 | $10,955,291 |
| PEC | Perpetual Res Ltd | 0.011 | -15% | 42301745 | $12,297,421 |
| GDM | Greatdivideminingltd | 0.305 | -15% | 64188 | $16,258,998 |
| SNX | Sierra Nevada Gold | 0.051 | -15% | 3189666 | $9,879,547 |
| FAU | First Au Ltd | 0.0085 | -15% | 3228628 | $26,164,847 |
| AUK | Aumake Limited | 0.003 | -14% | 2093500 | $10,581,756 |
| C1X | Cosmosexploration | 0.06 | -14% | 718431 | $7,592,662 |
| ENT | Enterprise Metals | 0.006 | -14% | 1722159 | $10,089,221 |
| PRM | Prominence Energy | 0.003 | -14% | 1481228 | $3,112,117 |
| SP8 | Streamplay Studio | 0.012 | -14% | 12419204 | $17,939,103 |
| EOS | Electro Optic Sys. | 8.95 | -14% | 7504272 | $2,000,913,267 |
| WAK | Wakaolin | 0.04 | -13% | 177027 | $32,116,207 |
| AJX | Alexium Int Group | 0.007 | -13% | 5500 | $12,873,043 |
| ARV | Artemis Resources | 0.007 | -13% | 32497554 | $30,167,377 |
| BNL | Blue Star Helium Ltd | 0.007 | -13% | 5413765 | $28,823,082 |
In Case You Missed It
Arika Resources (ASX:ARI) has discovered a new wide gold lode at the Landed at Last prospect of the Yundamindra JV project in WA.
TG Metals (ASX:TG6) has wrapped up metallurgical testwork on stockpiles at its Van Uden gold project in WA, boosting confidence in the asset’s path forward.
Auravelle Metals (ASX:AUV) has returned up to 25.4g/t gold in resamples from maiden RC drilling on the Sheoak prospect at its Nuckulla Hill gold project in South Australia.
Early drilling by Perpetual Resources (ASX:PEC) has delivered outstanding grades at the Igrejinha asset, pointing to a fertile critical minerals system.
Ballard Mining (ASX:BM1) has cleared all regulatory hurdles to enable mining and processing to begin at its Mt Ida project in the Goldfields.
Stellar Resources (ASX:SRZ) has secured a third project in North West Tasmania’s tin province to add to a tin portfolio that includes the Heemskirk and East Renison projects.
DY6 Metals (ASX:DY6) is swiftly advancing its rare earth, gallium and niobium opportunities in Malawi with sampling programs at the Tundulu and Machinga projects.
Red Mountain Mining (ASX:RMX) has confirmed the potential of Red Mountain’s Oaky Creek prospect with antimony results of up to 39.3%.
James Bay Minerals (ASX:JBY) is acquiring the high-grade Shafter silver project in Texas, including existing infrastructure.
Trading halts
Adelong Gold (ASX:ADG) – exploration results and ASX query
Carnavale Resources (ASX:CAV) – cap raise
Catalina Resources (ASX:CTN) – exploration results
NexGen Energy (ASX:NXG) – cap raise
3D Energi (ASX:TDO) – cap raise
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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