Friday, 20 September 2019 08:16 GMT

ASX continues slide but this copper-gold explorer climbed 16.7%

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Australian stocks closed down for the fifth straight session with the ASX200 down 5.8 points or 0.1% to 5498.5.

Major banks led the fall with ANZ Bank (ASX:ANZ) down 1.1% to $31.17 and Commonwealth Bank (ASX:CBA) slipped 0.3% to $80.29.

National Australia Bank (ASX:NAB) fell 1.5% to $31.85 while Westpac (ASX:WBC) is down 0.7% to $31.19.

Market Action here…

White Cliff Minerals (ASX:WCN) climbed 16.7% to $0.007 after the company started field exploration at its Aucu gold project in northwestern Kyrgyz Republic.

White Cliff will then carry out a detailed ground magnetic survey this month to delineate the intrusive dioritie porphyries mineralised structures and cross cutting faults.

All exposed mineralised zone will be mapped and sAMPled and combined with the magnetic survey to allow a detailed 3D model to be generated.

Exploration in 2015 is focussed on testing the extents of the mineralised system in all directions with a primary goal of doubling the existing resource.

On completion of the magnetic survey and integration of the geological data into a single 3D model the existing reverse circulation and diamond drilling positions will be finalised and drilling will commence in August.

The current program includes 2000 metres to 4000 metres of reverse circulation and diamond drilling that will test the deposit to depths of 200 vertical metres.

St George Mining (ASX:SGQ) jumped 20% to $0.12 with more than 1.5 million shares traded Cauldron Energy (ASX:CXU) is up 14.3% to $0.12 and Lion Energy (ASX:LIO) rose 10% to $0.22.

Blue Chip Stocks

Major Miners

BHP Billiton (ASX:BHP) is down 0.7% to $27.90
Fortescue Metals Group (ASX:FMG) is up 1.8% to $2.32
Newcrest (ASX:NCM) rose 2.4% to $13.67
Rio Tinto (ASX:RIO) put on 1.3% to $57.02

Oil and Gas

Oil Search (ASX:OSH) up 0.4% to $7.20
Santos (ASX:STO) down 0.6% to $7.91
Woodside Petroleum (ASX:WPL) up 0.3% to $35.27

Other banks financials and industrials

AMP (ASX:AMP) fell 1% to $6.14
Bank of Queensland (ASX:BOQ) down 1.5% to $12.38
Bendigo and Adelaide Bank (ASX:BEN) dropped 1.5% to $11.63
Macquarie Group (ASX:MQG) slipped 0.2% to $79.13
Suncorp (ASX:SUN) down 0.6% to $13.16
Telstra (ASX:TLS) up 0.2% to $6.01


JB Hi-FI (ASX:JBH) rose 3.7% to $21.46
Wesfarmers (ASX:WES) up 0.9% to $41.82
Woolworths (ASX:WOW) gained 0.6% to $27.25

Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.

ASX continues slide but this copper-gold explorer climbed 16.7%


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