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The ASX200 closed the day down three quarters of a percent as a bad day for miners weighed down the bourse.
The discretionary and IT sectors remained in the green, both closing the day up around 0.3% after the NASDAQ closed at fresh highs on Friday.
All other sectors closed in the red. Materials took the biggest hit, down 1.8%. Energy followed, down 1.45%.
In the Green
Encounter Resources (ASX:ENR) is up 13% on drilling results at its Aileron project in Western Australia.
The company flagged its latest niobium drilling results at two of its targets, reporting several thick intercepts of niobium at depths less than 70 metres.
Niobium explorers have fallen into favour with ASX traders of late, given WA1’s stellar performance through the early 2020’s.
ENR closed the day at 82.5 cents.
Gold explorer, Red 5 (ASX:RED) defied materials sector losses when it gained 5.3% on the repayment of a Loan Facility and the release of its June quarter results.
Red 5 ended the quarter with cash and bullion of $453.7 million and debt of $92.9 million.
RED closed the day at 39.5 cents.
Respiratory imaging technology company, 4DMedical (ASX:4DX) is up 3.7% on a contract with Jones Radiology, a leading provider of imaging services in South Australia.
The contract follows a successful pilot at three of Jones Radiology’s Adelaide clinics and will further expand patient access to 4DMedical’s XV Technology platform.
4DX closed the day at 55 cents.
In the Red
Looking at today’s fallers, Meteoric Resources NL (ASX:MEI) fell nearly 14% after releasing aScoping Study for its Caldeira Project in Brazil.
The company engaged Ausenco to establish metallurgical recoveries and assist with process flowsheet development.
Despite the results, the market didn’t respond positively to the news.
MEI closed the day at 15.5 cents.
Finally, lithium explorer Patriot Battery Metals (ASX:PMT) dropped 6.4% on the final batch of core assay results from the CV13 Spodumene Pegmatite from its 2024 winter drill program at the Corvette Property, in Quebec.
Assay results weren’t enough to impress the market; lithium miners continue to face significant pressure as the battery metal price remains low due to oversupply.
PMT closed the day at 51 cents.
