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Market positivity could tilt

Markets have enjoyed a positive period over the past 24 hours following indications of improving US-China relations and British prime minister Theresa May surviving a no-confidence vote.
Market positivity could tilt Market positivity could tilt Market positivity could tilt Market positivity could tilt Market positivity could tilt

Former platinum miner makes standout gain on TSX

Staff reporter

However the optimism could evaporate with reports emerging at the time of writing of a second Canadian believed to have been detained in China.

The news follows last week's arrest in Canada of Huawei's CFO Meng Wanzhou, who has since been granted bail.

Base metals were little changed on low volumes on the London Metal Exchange yesterday and the gold price is similar to this time yesterday, around US$1,244 an ounce.

Syrah Resources was among the market risers on the benchmark ASX200, up about 7.5% in afternoon trade.

The company had earlier this month outlined production improvements at its Balama graphite project in Mozambique.

In Toronto, metals and mining stocks had closed up 1.1% yesterday.

Former platinum miner Atlatsa Resources (TSX: ATL) made a standout gain of almost 78%, or C3.5c, after confirming plans for a comprehensive restructure and to go private, delisting from the TSX and JSE.

It said its cash-out consideration for minority shareholders would be at a 108% and 100% premium to the closing price on the TSX and JSE respectively on December 11.

It had put its Bokoni mine on care and maintenance last year as part of the restructure agreed with a subsidiary of Anglo American Platinum.