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Lodestar shines

Lodestar Minerals (ASX: LSR) shone brightly among the juniors on the Australian Stock Exchange today on the back of “outstanding” drilling results from its Neds Creek gold project in Western Australia.
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ASX-listed junior rises on drilling results

Staff reporter

The top result was 4m at 74g/t gold from 140m, sending its shares soaring more than 86% intraday to a 52-week high of A4.3c.

The larger mining equities fared less well with both the diversified and gold sectors on the benchmark S&P/ASX200 index in negative territory in afternoon trade.

Lithium producer Orocobre (ASX: ORE) was down about 4% after yesterday's gains, and gold miner Regis Resources (ASX: RRL) was 3.8% lower at the time of writing.

Diversified majors posted strong gains in London yesterday, led by Anglo American (LSE: AAL) rising 2.71%, Glencore (LSE: GLEN) up 1.93% and Rio Tinto (LSE: RIO) gaining 1.27%.

The gains helped the FTSE100 metals and mining sector close 1.54% higher.

However in the US, the S&P500's metals and mining sector closed 0.38% lower, weighed down by Freeport-McMoRan's (NYSE: FCX) drop of 1.07%.

Canadian markets were closed yesterday for a public holiday.

Finally, the spot gold price remains around its lowest point for this year and was worth around US$1,290 an ounce on the spot market, little changed as US-China trade tensions eased.