Currently viewing Global edition

Oz miners start quarter upbeat

Despite the second quarter off to the worst start for US stocks since the Great Depression, due to tech woes and trade tensions Bloomberg reported, Australian miners made a positive start.
Oz miners start quarter upbeat Oz miners start quarter upbeat Oz miners start quarter upbeat Oz miners start quarter upbeat Oz miners start quarter upbeat

Independence Group gains

Staff reporter

Four of the top five gainers on the benchmark S&P/ASX200 today were miners, led by the diversified Independence Group (AU:IGO) rising 4.46%.

Nickel miner Western Areas (AU:WSA) was up 4.15% and gold producers Evolution Mining (AU:EVN) and Resolute Mining (AU:RSG) gained 3.3% and 3.2% respectively as the gold price remained around US$1,340 an ounce on the spot market.

Toronto's metals and mining sector fared less well yesterday, dropping 1.2% overall, however gold hopefuls were among the best performing in terms of percentage gains yesterday.

Forsys Metals (CN:FSY) rose more than 22% despite no news in a week, since the emerging uranium developer said B2Gold had increased its equity in a Namibian gold joint venture to 49% and entered the final earn-in period.

Nicaragua-focused Condor Gold (CN:COG), which is also AIM listed, rose 12.5% in Toronto and  Nevada-focused Corvus Gold (CN:KOR) gained 11.5%.

European markets were tipped to open lower today, Reuters reported, and there is now less than a year to go until Brexit.