Closing Bell: Energy leads the ASX to another gain, but one stock gained 265pc

It was another day of gains for the ASX led by the energy sector.

The ASX 200 rose by 0.116% to close at 7,437 while the ASX Emerging Companies Index rose 0.56% to close at 2,527.

Although there was an even number of winners and losers among ASX sectors, energy rose above the rest with a 4.45% gain mostly thanks to rising oil prices.

Utilities and property trusts also had solid gains, rising by over 1% while the worst sector was industrials retreating 1.06%.

Stocks elsewhere in Asia were slightly down as well as investors anticipated US inflation data due out tonight.

TODAY’S BIGGEST WINNERS

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Code	Company	Price	%	Volume
MHK	Metalhawk.	0.675	265	52051459
HNR	Hannans Ltd	0.02	54	136641324
ACB	A-Cap Energy Ltd	0.135	44	5300450
ERW	Errawarra Resources	0.3	36	2057708
CDR	Codrus Minerals Ltd	0.2	29	4433208
CAU	Cronos Australia	0.135	29	877288
CXO	Core Lithium	0.445	27	56807466
3DP	Pointerra Limited	0.46	26	4683095
TOE	Toro Energy Limited	0.039	26	87381511
PTX	Prescient Ltd	0.27	26	5939348
NXM	Nexus Minerals Ltd	0.37	25	9451966
LNY	Laneway Res Ltd	0.005	25	1600000
MM1	Midasmineralsltd	0.205	24	673504
Z2U	Zoom2Utechnologies	0.43	23	2979800
PH2	Pure Hydrogen Corp	0.25	22	4533157
M8S	M8 Sustainable	0.032	21	6273796
ENR	Encounter Resources	0.295	20	1547331
YPB	YPB Group Ltd	0.003	20	2123658
AIR	Astivita Ltd	0.75	17	26815
AMD	Arrow Minerals	0.007	17	2867392
IPT	Impact Minerals	0.014	16	8144238
NME	Nex Metals Explorat	0.043	16	1892543
FNT	Frontier Resources	0.022	16	28696853

Metalhawk (ASX:MHK) rocketed by 265% off the back of a nickel sulphide discovery at the Berehaven nickel prospect.

Pot stock Cronos Australia (ASX:CAU) rose after announcing it was merging with CDA Health – a private medical cannabis company based in Queensland.

Recently listed explorer Midas Minerals (ASX:MM1) announced a drilling campaign will get underway soon are it hired a drilling contractor.

And Nex Metals (ASX:NME) rose after its joint venture partner Metalicity (ASX:MCT) unveiled a proposal to combine the two companies even though Nex told its shareholders to take no action at this stage.

TODAY’S BIGGEST LOSERS

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Code	Company	Price	%	Volume
ANL	Amani Gold Ltd	0.002	-33	152658591
CGB	Cann Global Limited	0.003	-25	2162292
MRD	Mount Ridley Mines	0.004	-20	9465621
RXH	Rewardle Holding Ltd	0.013	-19	1064591
SVS	Sunvest Corporation	0.5	-16	1000
AEF	Australian Ethical	9.59	-13	895519
CXU	Cauldron Energy Ltd	0.041	-13	15174372
AOA	Ausmon Resorces	0.007	-13	2655292
CVS	Cervantes Corp Ltd	0.007	-13	6224200
PO3	Purifloh Ltd	1.35	-12	2500
MMG	Monger Gold Ltd	0.25	-12	323533
GGE	Grand Gulf Energy	0.029	-12	4323899
DTM	Dart Mining NL	0.11	-12	627363
BCA	Black Canyon Limited	0.265	-12	230620
MEI	Meteoric Resources	0.031	-11	11681584
ARO	Astro Resources NL	0.004	-11	310000
RIM	Rimfire Pacific	0.008	-11	474187
TZN	Terramin Australia	0.033	-11	100000
TTA	TTA Holdings Ltd	0.042	-11	245224
VMY	Vimy Resources Ltd	0.21	-11	15865765
GTI	Gratifii	0.026	-10	512120
BRB	Breaker Res NL	0.27	-10	2771520
HE8	Helios Energy Ltd	0.135	-10	668203

Rewardle (ASX:RXH) fell after a company update.

ANNOUNCEMENTS YOU MAY’VE MISSED

Vaughan Bowen, a prominent figure in the telco space, has been charged with insider trading and appeared before the Melbourne Magistrates’ Court today. ASIC alleges he sold 5.6 million shares in June 2019 knowing before the market that a private equity group eyeing off Vocus Group would likely withdraw the offer. The matter has been listed for court on December 7 but telco Uniti (ASX:UWL), which Bowen sits on the board of, went into a trading halt this afternoon.

Star Entertainment Group (ASX:SGR) told shareholders the NSW Independent Liquor and Gaming Authority had hired a Senior Counsel – in Adam Bell who led the Bergin Inquiry into Crown’s Barangaroo casino – to conduct a regular review into its operations. The final report, is expected in late January 2022.

Perpetual Resources (ASX:PEC) has commenced a scoping study to analyse the economics of a Direct Shipping Ore production scenario at its Beharra Silica Sands project. The company says this is in response to inbound interest from a current offtake partner whose modelling had found that this scenario could achieve a product with materially lower iron content meaning less impurities.

Corella Resources (ASX:CR9) expanded its regional scale landholding at the Tampu Kaolin project. The latest move increases its land holding by 446% and the company expects a Maiden Mineral Resource Estimate by this month’s end.

Propel Funeral Partners (ASX:PFP) is forking out $17.6 million to buy three funeral parlours, two in Adelaide and one in Auckland. These perform 1,200 funeral per annum and generated revenue of $9 million in the most recent financial year.

CIMIC Group (ASX:CIM) company UGL, a member of the RailConnect joint venture, was awarded a contract extension to increase the size of New South Wales’ Mariyung train fleet and install an additional transformer at the Central Coast maintenance facility. This extension will generate revenue of over $100 million to UGL alone.

Micro-X’s (ASX:MX1) portable x-ray Rover is now listed on the Australian Register of Therapeutic Goods. This means it is commercially available for medical use in Australia – a market opportunity the company says is worth $10 million annually.