CAPITAL MARKETS

Oz miners start quarter upbeat

Markets lower

Staff reporter

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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.

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