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The ASX200 closed up 0.73% on 8058 points as the Australian market continues to hit record highs. Analysts at UBS expect the index to hit 8,300pts by year end.
All sectors were in the green with Real Estate climbing 1.8%, followed by IT on 1.41% and Industrials 1.35%
In the Green
Gold explorer and developer Labyrinth Resources (ASX:LRL) has seen its share price more than triple in response to two gold project acquisitions Western Australia.
The company says it will grow its investment in the Comet Vale Gold Project and acquiring 100% of the Vivien Gold Project.
Labyrinth Resources closed at 1.5 cents.
Meanwhile, Alterity Therapeutics (ASX:ATH) is up 40% as it reports reported positive interim results from its Phase 2 clinical trial assessing the reaction of multiple system atrophy patients to drug ATH434.
Reduced disability related to activities of daily living was observed among 43% of participants after six months of treatment.
Alterity Therapeutics closed at point seven of a cent.
Still looking at materials, Deterra Royalites (ASX:DRR) just scraped into the green at market close as it confirmed what BHP’s results mean for its royalty-based revenues.
Deterra receives a royalty payment for BHP’s output at its Mining Area C iron ore mine; the company did not offer hard financial guidance but noted the country’s largest miners increased production in the latest quarter.
Deterra Royalties closed at $4.00.
In the Red
G11 Resources (ASX:G11) dipped -8% on thin trades through Wednesday trade as the company announced it’s rattling the tin to raise $4.3M.
The company also announced it was to kick off maiden drilling at its Black Hills play, but, the dilutive placement wasn’t enough to turn sentiment into the green.
G11 Resources closed at 2.3 cents.
Elsewhere, Besra Gold (ASX:BEZ) shares tanked 29% after shares went live again following a voluntary suspension in mid-June.
Shareholders appeared to be getting out while they could as the company announced it was scrapping a deal with a partner meant to buy Besra’s gold after that partner failed to pay up nearly US$10M.
Besra Gold closed at 7 cents.
Finally, metal 3D printing specialists AML3D (ASX:AL3) fell 3%, even after the company announced a contract just under $300,000 to modernise its existing robotic fleet.
Despite opening up AML3D’s tech to a third party defence supplier, the market was more cautious than it was confident, seeing the stock end in the red.
AML3D closed at 16 cents.
