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The ASX200 closed flat today, down less than 0.1% to 7,963.70 points.
The only sector to make any real gains was Materials, which was up 0.4%,
Real Estate stocks weighed on the market, down 1.5% and Energy shed 0.8%.
In this bulletin we’ll look at Catlayst Metals, West African Resources, Diatreme, Iluka Resources, Frontier Energy and Nova Minerals.
In the Green
Gina Rinehart-backed Catalyst Metals (ASX:CYL) added around 9% on record quarterly production at its Plutonic and Henty mines. Catalyst ended the quarter with $37 million in cash and bullion, $45 million liquidity and only $8 million in debt.
Catalyst Metals closed at $1.92.
West African Resources (ASX:WAF) gained 4.5% after releasing its June Quarter results.
The company’s Sanbrado mine delivered low-cost gold production seeing the company on track to achieve the upper end of annual guidance of 190,000 to 210,000 ounces.
Construction of the Kiaka mine remains on track for first gold to be poured in Q3 next year.
West African Resources closed at $1.49.
And Diatreme (ASX:DRX) closed flat after updating the market on its efforts to takeover Metallica Minerals (ASX:MLM). It has now achieved a 90% stake in the company and will seek to compulsorily acquire the rest.
Diatreme closed at 2.7 cents.
In the Red
As Real Estate stocks headed south, Finbar (ASX:FRI) was down more than 3.5% to close at 82 cents.
Mineral sands play Iluka Resources (ASX:ILU) plunged almost 5%. after reporting a nearly 15 per cent hit to revenue for the first half of 2024, year-on-year. This was despite increased production of zircon and rutile in Q2, 2024.
Iluka Resources closed at $5.90.
And Nova Minerals (ASX:NVA) shed almost 12% after announcing the pricing of its $5 million IPO on the United States Nasdaq exchange. The company plans to use the funds for resource and exploration field programs, Feasibility Studies, and general working capital.
Nova Minerals closed at 19 cents.
