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Markets more positive

Posted by: Admin | Posted on: November 29th, 2017 | 0 Comments

Among gold equities, Australian-based miner St Barbara (AU:SBM) barely changed as it held its AGM – its stock remains near a one-year high.

In North America, Goldcorp (CN:G) closed down more than 1% while Newmont Mining (US:NEM) was up slightly in New York.

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Most market indices around the globe moved higher in the past 24 hours, with the SP500 higher and the FTSE 100 up more than 1% but the SP/TSX Composite Index closed slightly lower.

In Australia, the benchmark SP/ASX200 managed to surge back over the 6,000-point benchmark, helped by star performer Galaxy Resources (AU:GXY) gaining 8.64%.

The lithium miner shot up on news of signing long-term offtake agreements with multiple customers for 100% of its planned lithium concentrate production from Mt Cattlin from 2018, starting at higher headline pricing than in 2017.

Other lithium stocks also gained, with Pilbara Minerals (AU:PLS) rising more than 5% and Altura Mining up 2.5%.

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