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Australian stocks have plunged with financial stocks dragging the ASX200 down 134.3 points or 2.3% to 5692.2.
ANZ Bank (ASX:ANZ) fell 2.3% to $33.35 while () dropped 5.7% to $83.16.
() dropped 2.5% to $35.28 and () is down 3.7% to $33.99.
Market Action here…
() climbed 10.5% to $0.042.
The company flagged in its quarterly report that it was benefitting from the depreciation of the Australian Dollar against the US Dollar as well as lower Australian costs.
This has improved the already attractive financial parameters of the project over the Definitive Feasibility Study assumptions made in July 2014 improving the chances of attracting a strategic partner.
Japan Oil Gas and Metals National Corporation (JOGMEC) are currently working to find a Japanese partner that will acquire a 30% interest in the project and become Vital’s joint venture and funding partner.
The company expects to be working with its new partner towards financial close during the second half of this year.
In addition an initial five-year permit application has been approved over an advanced tungsten project in the German State of Saxony expanding Vital’s future growth pipeline beyond Watershed.
() jumped 50% to $0.003 () is up 13.3% to $0.034 and () rose 11.8% to $0.019.
Blue Chip Stocks
Major Miners
() down 0.5% to $32.41
() up 5.7% to $2.60
Newcrest () down 1.4% to $14.32
(ASX:RIO) down 0.4% to $59.27
Oil and Gas
Oil Search () down 1.4% to $7.96
() up 4.8% to $9.18
() down 0.1% to $35.46
Other banks financials and industrials
() down 2.4% to $6.39
() down 2.6% to $13.17
Bendigo and Adelaide Bank () down 2.0% to $12.18
() down 2.4% to $76.88
Suncorp () down 1.7% to $12.90
() down 2.4% to $6.23
Retailers
JB Hi-FI () down 1.4% to $18.97
() down 0.6% to $44.35
Woolworths () down 5.0$ to $28.14
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