(MENAFN- ProactiveInvestors) Australian stocks climbed for a tenth straight session sending the ASX200 up 69.9 points or 1.2% to 5777.3 with mining stocks racing ahead.
The Materials Index is up 3.3% to 9389.8 points.
() raced ahead 4.6% to $32.06 while () jumped 8.9% to $2.58. (ASX:RIO) is up 3.7% to $60.73 though Newcrest () fell 1.1% to $13.84.
These companies recorded gains of 10% of more…
Shares in () rose 14.3% to $0.16 today.
The company announced today the intersection of graphite mineralisation at Merelani East of its Merelani-Arusha graphite project in Tanzania.
This consistent with mineralisation that occurs at the adjacent Block C graphite mine.
The mine was operating in the mid-1990s producing commercial quantities of extremely high grade large flake graphite.
Drilling results indicate that Merelani East has graphite mineralisation that is potentially larger than Merelani Block C.
Metallurgical testwork is already underway and the exclusivity agreement with Tanzanite One Mining Limited has also been extended.
While Merelani-Arusha continues to advance the Epanko Graphite Project remains the flagship and key focus for Kibaran.
Real Energy () is up 16.2% to $0.215.
The company is poised to start production testing of its Tamarama-1 and Queenscliff-1 wells in the Queensland Cooper-Eromanga Basin.
This could convert the high estimate (3C) contingent resource of almost 1.4 trillion cubic feet of gas for the two wells into reserves and lead to potential offtake agreements.
() gained 32% to $0.165 on light volumes.
In January Western Australia Minister for Mines and Petroleum Bill Marmion allowed its applications for three uranium exploration licences in the Pilbara region to proceed overturning the Mining Warden's February 2014 recommendation.
Exploration licence applications 08/2385 08/2386 and 08/2387 on and adjacent to pastoral leases on the Minderoo pastoral station will extend the Yanrey project.
The company is well funded to undertake the proposed exploration with $3 million in cash at bank and a further $7.47 million in funding due from various investors under placement agreements.
() is up 11.1% to $0.01.
Blue Chip Stocks
Oil and Gas
Oil Search () up 1.7% to $8.47
() 1.8% to $8.36
() up 0.3% to $35.80
Big 4 banks
ANZ Bank (ASX:ANZ) up 1.5% to $34.62
() up 0.4% to $90.79
() up 0.7% to $36.50
() up 2.8% to $36.23
Other banks financials and industrials
() up 1.5% to $5.94
() up 1.2% to $13.12
Bendigo and Adelaide Bank () up 1.0% to $13.70
() up 1.4% to $64.75
Suncorp () up 0.7% to $14.79
() down 1.0% to $6.60
Retailers
JB Hi-FI () up 2.9% to $17.30
() up 0.8% to $44.53
Woolworths () up 1.5% to $32.79
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