CAPITAL MARKETS

Optimism lifts juniors

Strengthening commodity prices and optimism in quarterly reports lifts ASX market risers

Staff reporter

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The copper price rose back above US$7,000 a tonne earlier this week on the London Metal Exchange, while zinc remains near 10-year highs and nickel achieved its highest price since early September.

Hampton Hill Mining's shares (AU:HHM) performed strongly in the wake of its annual report last week, where it said its asset value had been enhanced by its stake in Peel Mining (AU:PEX).

"The coming year should bring a greater market awareness of the value inherent in our Apollo Hill royalty asset and the Peel shareholding," chairman Joshua Pitt said.

The rising copper price helped lift Minotaur Exploration (AU:MEP), which rose after announcing strong copper mineralisation at its Eloise joint venture at Cloncurry.

Applications for Minotaur's share purchase plan exceeded A$2 million and the company scaled it back on a pro-rata basis to accept the targeted $1 million.

In its quarterly report released today, Minotaur said it was comfortably funded to maintain its exploration tempo and project generation work.

Finally, Great Boulder Resources (AU:GBR) also gained at it reported visual reults from initial drilling at its Mt Venn copper-nickel-cobalt project in Western Australia.

The company has extended its programmed from 18 up to 23 holes due to the extensive sulphide mineralisation encountered.

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