The share prices of gold exploration and development companies Terrain Minerals (ASX:TMX) and Reach Resources (ASX:RR1) soared on the S&P/ASX 200 index today, which grew by 0.08% to 8,986 points.
Terrain stock surged by 20% to $0.006 while Reach was up by 12.5% to $0.009 per unit in the first hour of the Australian Securities Exchange opening for trade.
Besra Gold (ASX:BEZ) rose by 9.52% to $0.11 per share while Golden Globe Resources (ASX:GGR) increased by 5.6% to $0.28 per stock.
This is the third day of gains following three consecutive days of losses on the index. On April 9 the index dropped by 6.3% to 8,945.5 points. On April 10 the index decreased by 0.14% to 8,960.6 points. On April 13 the index dwindled by 0.34% to 8,930 points. On April 14 the index rose by 0.34% to 8,930 points. On April 15 the index rose by 0.15% to 8,984.5 points.
“Over the last five days the index is virtually unchanged but is currently 2.36% below its 52-week high,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025 despite “some concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts predict recently resumed oil shipments in the Middle East will have a short-term positive impact.
“The key thing to watch for remains a significant and sustained pick up in the number of ships coming through the Strait of Hormuz — it has picked up but it is a fraction of normal levels,” AMP (ASX:AMP) Chief Economist Shane Oliver tells the Australian Associated Press.
“If this were to occur, even with Iran collecting a fee, it could allow the war to continue but with less impact on the global economy and markets,” he adds, according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Australian Securities Exchange via Facebook
