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Australian stocks have closed up with energy and mining stocks pulling the ASX200 up 34.7 points or 0.6% to 5960.7.
This follows crude oil prices pushing higher after Iran signed a preliminary deal with international powers that provided it relief from sanctions – including on oil investment in exchange for curtailing its nuclear activity.
West Texas Intermediate crude climbed US$3 to US$ 52 a barrel.
Iron ore prices were up 2% to US$48.06 per tonne.
Oil Search () climbed 5.4% to $7.62 () gained 3.7% to $7.36 while () is up 1.8% to $35.00.
Market Action here…
() climbed 20% to $0.24 with more than 2 million shares traded.
The company has delivered a boost to the project economics of its wholly-owned Epanko project in Tanzania with a 55% increase in the net present value to US$396 million ($A515 million).
The increase is based on recently received indicative debt funding terms. The Bankable Feasibility Study remains on schedule to be completed by the end of June 2015 and is within budget.
Recent flotation testwork confirms Epanko flake size distribution consistent for very high grade (+20% TGC) graphite.
Epanko is located in the Mahenge Graphite Province and has a JORC Indicated and Inferred Resource of 22.7 million tonnes at 9.8% TGC for 2.2 million tonnes of contained graphite.
It is expected that the resource will grow considerably with the Epanko estimate only covering 20% of the project area.
Metallurgy has found Epanko graphite to be large flake expandable ultra-high purity and premium quality from a global perspective.
A number of companies recorded gains of 10% or more today.
() is up 50% to $0.003 () climbed 33.3% to $0.004 and (ASX:MTA) is up 11.7% to $0.105.
() gained 10% to $0.011 with 2.6 million shares traded while () jumped 33.3% to $0.004.
Blue Chip Stocks
Major miners
() up 0.8% to $30.70
() up 7.5% to $1.93
Newcrest () up 1.8% to $14.18
(ASX:RIO) up 1.6% to $57.04
Big 4 banks
ANZ Bank (ASX:ANZ) down 0.5% to $36.71
() down 0.3% to $93.92
() up 0.1% to $39.36
() up 0.0% to $39.67
Other banks financials and industrials
() up 1.2% to $6.60
() up 1.2% to $13.94
Bendigo and Adelaide Bank () down 0.8% to $12.30
() up 0.2% to $79.21
Suncorp () down 0.9% to $13.43
() down 0.3% to $6.31
Retailers
JB Hi-FI () up 5.0% to $19.29
() up 0.7% to $43.85
Woolworths () up 0.2% to $29.05
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