ASX Markets
The S&P/ASX200 closed sharply lower on Friday, dropping 171.50 points or 2.11% to 7,943.20 after setting a new 52-week high.
Bottom performers were Deep Yellow Ltd (-19.23%) and Boss Energy Ltd (-12.88%).
Over the last five days, the index has gained 0.28%.
8 of 11 sectors are higher over the last week.
The session's top sector, Consumer Staples, is lower by -1.26% but up +0.72% for the last five days.
The index is currently 2.52% below its 52-week high.
Sector map calculated by performance for last 7 days.
S&P 500 Weekly Risers & Fallers
1 week performance of Standard and Poor's 500 index stocks categorised by sectors and industries. Size represents market cap.
Today in History
4th August 1944
Anne Frank was arrested in Amsterdam by the German Security Police following a tip-off from an informer who was never identified.
Headline Roundup
June 2024 Quarterly Activities Report
Rincon Resources
June 2024 Quarterly Activities Report | West Arunta ProjectMaiden reverse circulation (‘RC’) and diamond drilling (‘DDH’) drilling program at Pokali was completed with 14 holes drilled for 4,343m across the Pokali East, Dune, Jewel, and Pokali North target areas. Results of the program were released subsequent to the quarter. Dipole-dipole inverse polarisation (‘DDIP’) geophysical surveying at Pokali revealed a 2.7 km long chargeability trend and three copper targets for drill testing. Detailed ground gravity surveying outlined four new drill targets at Avalon, Sheoak, K1 and K2, considered to be prospective for IOCG copper-gold or carbonatite-hosted REE-Nb mineralisation styles. The Company successfully secured a Western Australian Government Exploration Incentive Scheme (‘EIS’) co-funding grant of up to $180,000 for RC drilling to test the Avalon, Sheoak, K1, and K2 targets, boosting exploration efforts. Subsequent to the quarter, a first pass RC and DDH drilling program to test the Avalon, Sheoak, K1 and K2 targets commenced 15 July 2024.
LavertonA Tenement Sale Agreement was completed with Magnetic Resources NL acquiring exploration licence 38/3666 for $170,000 (ex GST). The updated exploration strategy for the Laverton Project was implemented with exploration activities to commence from July 2024 and include soil sampling, gravity surveys and drilling to test new targets outlined from a recent project review.
CorporateCompletion of an oversubscribed Placement to raise A$5.6M (before costs). Received $460,500 from the exercise of unlisted $0.05 options. Mr Michael Griffiths was appointed as Non-Executive Technical Director. Cash balance at the end of the quarter was $6.02M.
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Riversgold
June 2024 Quarterly Activities Report | Northern Zone Gold Project – 25km east of Kalgoorlie: May 2024 reverse circulation (RC) drilling at the Northern Zone Gold Project intersected gold mineralisation both to the north and south of RGL’s maiden diamond drill hole traverse Drilling targeted the shallower, up dip portion of the mineralised system, yielding several significant intercepts, including: 18m @ 4.14g/t Au from 36m (NZRC001) 54m @ 0.38g/t Au from 158m (NZRC004) 14m @ 0.76g/t Au from 226m to EOH (NZRC004) 15m @ 0.66g/t Au from 160m (NZRC005) 8m @ 0.57g/t Au from 221m to EOH (NZRC005) 9m @ 0.85g/t Au from 176m (NZRC006) 22m @ 0.41g/t Au, from 272 m to EOH (NZRC006)
Next round drilling underway Drilling underway designed to test the Project for supergene gold cap Gold at Northern Zone is hosted in a porphyry intrusion with drilled widths exceeding 100m in true width High gold recovery of 92.9% (average) after 24-hour bottle roll cyanide extraction
Tambourah Project – copper and gold rock chip results support newly identified 12km anomalism Lone Star Prospect rock chip result of 3.2 oz/t (101 g/t) gold and 4.1% copper (#TEM15) Hawkstone Prospect rock chip results including 21.78% copper and 3.3 g/t gold (#TEM11) and 16.78% copper and 2.4 g/t gold (#TEM01) Logans Find Prospect registered up to 67.1 g/t gold (#TEM12) Five prospects initially targeted for copper and gold Further chip samples have been taken in recent weeks and samples are on their way to the lab
Wodgina East Iron Ore Project – channel iron delineated Newly granted tenement immediately abuts the eastern edge of Mineral Resources’ (ASX: MIN) Wodgina Mine CID ideally located only 114km to Utah Point shipping terminal at Port Hedland via the Great Northern Highway and well within excellent trucking distance Geological mapping and rock chip sampling program confirms channel iron mineralisation in several mesas at RGL’s Wodgina East Project Large mesa-forming pisolitic paleochannel iron outcrops have been sampled and mapped in the south of the Wodgina East Project Historical rock chip sampling data from Mesa 2 returned 8 samples ranging from 51.94% to 56.67% Fe
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What to Watch
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