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The ASX200 has finished the trading session up .93 per cent with nearly all sectors in the green. Only energy slipped below even in the wake of Saudi Arabia cutting its oil price by $2 per barrel – its biggest price cut in more than a year.
Meanwhile, the IT sector mirrored US overnight success and dominated today, closing up more than two per cent.
In the green
Alumina (ASX:AWC) gained more than 7.5 per cent on news it’s preparing to close its 60-year-old Kwinana refinery south of Perth.
Alumina has interests in NYSE-listed Alcoa’s bauxite and alumina operations including Kwinana, Pinjarra and Wagerup refineries.
The 2.2 million tonne-per-annum Kwinana facility will begin to go offline in the second quarter of this calendar year, initially costing the jobs of at least 550 employees.
The aging infrastructure; as well as lower than desired bauxite grades from WA mining operations; scale limitations; and, high operating costs have driven the decision.
Alumina closed trade at 98 cents today.
Widgie Nickel (ASX:WIN) has gained nearly 30 per cent on announcing a 75 per cent increase to its total contained nickel resource at its Gillet deposit in Western Australia.
The resource is now nearly 3.14 million tonnes at 1.3 per cent nickel for 40,770 tonnes, with 72 per cent of that in the indicated category. The cut off grade was 0.7 per cent nickel.
Widgie Nickel closed trade today at 11.5 cents.
And Si6 Metals (ASX:SI6) has climbed 11 per cent on securing shareholder approval to expand its exploration portfolio with the acquisition of a 50 per cent interest in four Brazilian projects.
The projects are prospective for lithium, rare earths, gold and other minerals, and will be controlled through a joint venture deal with seller Foxfire Metals covering 10 exploration licenses, over about 17,000 hectares.
It requires Si6 to spend $1 million in the first year of the Joint Venture and free-carry Foxfire until the Bankable Feasibility Study is done.
SI6 closed trade at half a cent.
In the red
Wildcat Resources (ASX:WC8) has lost nearly three-quarters of a per cent today after recommencing drilling at its Tabba Tabba lithium project near Port Hedland, with four rigs due to be working by the end of the month.
During the Christmas break, the site camp was upgraded to accommodate 80 staff.
Wildcat Resources ended the day trading at 67 cents.
Galan lithium (ASX:GLN) also closed down about three-quarters of a per cent after reporting on an update to construction at its lithium brine project in Argentina.
Earthworks on the first pond are nearly done and the installation of pond lining is underway. The company intends to fill the pond and begin evaporation this summer.
Earthworks have begun on the second pond and nine production wells have been constructed.
Galan has been trading at 67 cents.
And Vitura Health (ASX:VIT) is down nearly 5.9 per cent after adding prescription-only nicotine vaping products to its product distribution and supply ecosystem, CanView.
From the first of January 2024, Therapeutic Goods Administration changes mean these products can only be dispensed by pharmacists under a doctor’s prescription.
Vitura has exclusive agreements with multiple suppliers who provide prescription-only NVPs to the Australian market.
Vitura shares have traded at around 24 cents today.
