The ASX200 has closed the day as futures predicted, up just over point two of a per cent.
The discretionary sector-maintained gains all day, closing up 1.3 per cent, followed by real-estate climbing slightly higher than one per cent.
The Materials sector had another rough day and lost the most ground, closing down three quarters of a per cent.
In this bulletin we’ll discuss Kingsland Minerals, Liontown Resources, NickelSearch Limited, Cooper Metals, Blackstone Minerals, and Invictus Energy.
In the green
Kingsland Minerals (ASX:KNG) shares surged 21% after posting its maiden resource estimate for its NT-based graphite project.
The estimate suggests the deposit could be one of the world’s largest, according to Kingsland.
The company is planning an infill drilling program set for the June quarter of 2024.
KNG closed the day 25.5 cents.
Liontown Resources (ASX:LTR) shares jumped 10% at one point after locking in a debt facility worth over half a billion dollars offered by NAB, Commonwealth, and others.
Funds will go towards the development of Liontown’s flagship Kathleen Valley lithium project, now more likely to withstand macro headwinds dominating the sector.
LTR closed the day at $1.43.
NickelSearch (ASX:NIS) shares gained 23 per cent after the company moved closer to its first drill program to test high-priority lithium targets at its project in Carlingup, WA.
A total of eight high-priority targets are on the radar, now made easier with a land access agreement in place.
NIS closed the day at 3 cents.
In the red
Cooper Metals (ASX:CPM) shares plummeted 50 per cent after an update on recent gold drilling failed to impress.
Three drill holes over 700 metres deep were completed but the company only reported a mineralised section of 3 metres thickness.
CPM closed the day at 13.5 cents.
Meanwhile, manganese player Blackstone Minerals (ASX:BSX) dipped just over three percent after reporting a non-binding offtake MOU with three Vietnamese companies.
This comes even as the company reported it expects to see capital expenditure burden decrease thanks to the deal.
BSX closed the day at 6.3 cents.
Much-watched junior gas explorer Invictus Energy (ASX:IVZ) fell 6.6 per cent in the last hour of trades after the company announced it was raising more money.
Targeting institutional investors in Zimbabwe where its project is located, Invictus reported it had raised a total of $1.5 million dollars.
IVZ closed the day at 9.8 cents.
That’s market close, I’m Keely Lynch, have a good evening.