ASX Market Update: Index sheds another 1% as Discretionary stocks lead broad selloff | December 20, 2024

The ASX200 has been down 1% at 8,084 points.

Discretionary has been the worst performer, down 2%, followed by Financials, down 1.8%, and Staples, down 0.9%.  Utilities has bucked the trend, up 1.8%, followed by Energy, up around 0.4%.

Leeuwin Metals (ASX:LM1) has been up 30% after acquiring the 500-square-kilometre Marda Gold Project in Western Australia. The deal includes multiple pits on granted mining leases while promising exploration opportunities through relatively untouched historical prospects and high-grade drill intercepts.

Leeuwin Metals has been 7.8 cents.

Paladin Energy (ASX:PDN) has been down 0.9% on the news Canada is allowing its buyout of Fission Uranium. Listed on the TSX, Fission has been in Paladin’s line of sight for a while – and now the deal is set to pass with a final green tick from the Minister of Innovation, Science and Industry.

Paladin Energy has been at $7.74.

Voltaic Strategic Resources (ASX:VSR) has identified high-grade gold – including up to 12.4 grams per tonne (g/t), and 130g/t silver – in addition to lead and antimony mineralisation at two prospects of its Kooline Gold Project in WA.

Rock chip assays taken from reconnaissance work at Spilsbury and Treadle have shown mineralisation of gold and antimony across a strike length of more than 500 metres, with rock chips yielding grades such as 12.4 g/t gold, 7.2 g/t gold, and 130 g/t silver.

Voltaic Strategic Resources has been trading flat at 1.5 cents.

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