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Australian stocks have fallen with major banks and miners dragging the ASX200 down 69.6 points or 1.2% to 5877.9.
ANZ Bank (ASX:ANZ) is down 1.4% to $35.53 while () dropped 1.1% to $91.98.
() fell 1.7% to $38.68 and () is down 1.0% to $38.90.
Market Action here…
() climbed 30.8% to $0.017 with 1.5 million shares traded.
The company looks to have unearthed high grade rare platinum group metals at its 87%-owned Broken Hill Project tantalisingly close to the world-class Broken Hill silver-lead-zinc mine.
The new assays from exploration show that Impact’s discovery at Red Hill contains some of the highest grades of PGM reported in Australia to date.
Already Impact has discovered robust copper and nickel grades within the project JV area.
The Red Hill assays including 4.2 metres at 11.8 g/t PGM 2.6% copper and 0.5% nickel also revealed the presence of the rare platinum group metals (PGM) osmium iridium rhodium and ruthenium.
These will not only bump up the total grade of PGM in the discovered zones but also improve the economics of developing and mining the minerals.
These following companies also made gains of 10% or more.
() is up 125% to $0.009 with more than 2 million shares traded () jumped 33.3% to $0.004 while () rose 50% to $0.003 with 3.2 million shares traded.
() climbed 12.5% to $0.009 and () is up 13.9% to $0.041 with more than 1.3 million shares traded.
Blue Chip Stocks
Major Miners
() down 1.0% to $29.94
() down 4.7% to $1.86
Newcrest () down 2.0% to $14.19
(ASX:RIO) down 1.4% to $55.08
Oil and Gas
Oil Search () up 0.2% to $8.11
() up 0.1% to $7.94
() down 0.5% to $35.32
Other banks financials and industrials
() down 1.2% to $6.65
() down 1.3% to $13.50
Bendigo and Adelaide Bank () down 1.2% to $12.35
() down 1.4% to $81.13
Suncorp () down 2.0% to $13.91
() down 1.4% to $6.14
Retailers
JB Hi-FI () down 1.8% to $18.72
() down 1.4% to $43.00
Woolworths () down 1.5% to $28.57
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