ASX Market Close: ASX Ends Week with Modest Decline, Health Care Sector Shows Resilience | 5 July 2024

The ASX200 had a turnaround, closing the week down 0.12%.

Health Care led sector gains, up three quarters of a per cent, driven by top performers including Clinuvel, Race Oncology, and Immutep.

On the other end, Materials and Financials suffered the worst losses, down 0.5% and 0.45% respectively.

In the Green

Red Hill Minerals (ASX:RHI) signed a conditional binding Heads of Agreement with Peel Far West, a subsidiary of ASX-listed Peel Mining (ASX:PEX), to explore the Curnamona Project in NSW.

The agreement allows Red Hill to earn a 75% interest by investing $6.5 million in exploration over five years.

The project is known for its potential Tier 1 Zinc-Lead-Silver deposits.

Both companies’ investors were supportive of the joint venture news.

RHI closed the day up 1.56% at $7.82.

PEX shot up 7.7% to close at 14 cents.

Copper explorer, KGL Resources (ASX:KGL) gained 9.5% after reporting grades exceeding 19% from diamond drilling at its Rockface prospect in the Northern Territory.

The company aims to expand the resource of its Rockface North Lode deposit.

KGL closed the day at 11.5 cents.

In the Red

Tivan (ASX:TVN) and its project partner Earth AI are preparing drill rigs to begin a new drill campaign at the Northern Territory based Sandover lead-silver project.

The company reported high-grade surface lead mineralization at the Aileron Station target, with grades up to 23.8% based on rock chip samples.

Despite this development, the news did not favourably impact its share price.

TVN closed the day down three-quarters of a percent at 6.8 cents.

MRG Metals (ASX:MRQ) fell 20% following the completion of an $800,000 capital raising.

The funds will support working capital for advancing MRG’s HMS Projects with Joint Venture Partners towards decision-making and subsequent mine development, as well as selective exploration across their portfolio.

MRQ closed the day at 0.4 cents.