The ASX200 closed up 0.74% at 8,344 points in a positive start to the week.
A rebound in iron prices saw the big miners BHP (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) all chalk up substantial gains.
Meanwhile, gold has hit an all time high and is trading above US$2730 for the first time.
To the sectors, Materials was the strongest performer, up 1.45%, followed by Energy, up 1.25% and Discretionary, up 1%.
IT was the biggest and only loser, down 3%.
In the Green
Genesis Minerals (ASX: GMD) closed up 7.39% after Bell Potter analysts played a buy rating on the stock.
The company owns two WA gold processing plants and estimates that it has 18.3 million ounces of contained gold in mineral resources and ore reserves across four mining centres.
Genesis Minerals finished the day at $2.47.
Iondrive (ASX:ION) closed up 16.67% on news it achieved impressive recovery rates for nickel, cobalt, manganese, and lithium from raw black mass, according to a new study of its lithium-ion battery recycling process.
Iondrive closed at 1.4 cents.
Hammer Metals (ASX:HMX) closed up 5.56% after testing results at its North Orelia gold deposit in Western Australia yielded a top recovery of 96%.
Hammer Metals closed 3.8 cents.
In the Red
Wisetech (ASX:WTC) closed down 14.56% as the scandal engulfing founder Richard White widens and to the detriment of the share price. The board has had a series of meetings in recent days and the crisis continues to unfold.
Wisetech closed at $104.65.
Mt Malcolm Mines NL (ASX:M2M) finished down 4.88% after pouring its inaugural doré bar as part of a bulk sampling program at its Golden Crown prospect in Western Australia. The company reported an assay of 458 grams per tonne in gold from rock chip samples.
Mount Malcolm Mines closed at 3.9 cents.
Mineral Resources (ASX:MIN) closed down 13.76% on news former Chairman Peter Wade failed to disclose a 10 year tax evasion scheme set up by billionaire director Chris Ellison. Mr Ellison described his actions as “a serious lapse of judgement”.
Mineral Resources closed at $39.55.