The S&P/ASX200 closed higher on Friday 31 March, gaining 55.50 points or 0.78% to 7,177.80, crossing above its 125-day moving average.
The top performing stocks in this index were battery materials and technology company Novonix (ASX:NVX) and gold miner Gold Road Resources (ASX:GOR), up 8.58% and 5.59% respectively. Over the 5 business days of last week the index gained 3.20% and is up 1.98% year-to-date.
Battery materials and graphite-developed technology company Novonix released news late last week saying a new joint venture agreement with TAQAT will expand its market share and growth opportunities.
Novonix will partner with TAQAT, a Saudi Arabian energy company, to develop and produce graphite anode materials for electric vehicle (EV) and energy storage system batteries in the Middle East and North Africa region.
Meanwhile, as reported by Mining.com.au, last week mining services technology company SensOre (ASX:S3N) reached an agreement with Gold Road to restructure arrangements surrounding the Yilgarn Exploration Ventures (YEV) portfolio.
SensOre, which deploys AI and machine learning (ML) technologies throughout the resources sector, has agreed to acquire Gold Road’s 40% minority interest in YEV for 800,000 SensOre shares.
The All Ords also closed up Friday, gaining 60.90 points or 0.83% to 7,373.30 and crossing above its 125-day moving average.
The top performing stocks in this index were EML Payments (ASX:EML) and Aurelia Metals (ASX:AMI), up 30.95% and 25% respectively. Over the past 5 business days the index gained 3.30%, and is up 2.10% YTD.
On 31 March, Aurelia reported that its refinancing process for a new credit facility to fund the Federation Mine development had progressed with commercial terms ‘largely agreed’ subject to final and binding documentation.
A Federation Mine update is expected sometime in April.
At Federation, Aurelia will extract ‘high-grade’ zinc, lead, copper, and gold using modern underground mining methods over an initial life of 8 years with a processing capacity of 600,000 tonnes per annum.
Write to Adam Orlando at Mining.com.au
Images: iStock
