ASX continues slide but this minerals explorer jumped 40%

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Australian stocks have fallen further with the All Ords shedding 40.6 points or 0.7% to 5619.4. Retail stocks were amongst the biggest losers.

Wesfarmers (ASX:WES) was down 2.0% to $43.60 while Woolworths (ASX:WOW) fell 2.6% to $28.12.

However JB Hi-FI (ASX:JBH) was up 1.8% to $21.46


Market Action here…

Impact Minerals (ASX:IPT) jumped 40% to $0.028 with more than 5 million shares traded.

The company confirmed the presence of high grade and rare platinum group metals in a wide arc stretching northeast to southeast of the Broken Hill township in New South Wales.

The results from new assay data and a review of previous results at the Broken Hill Joint venture demonstrated high to very high grades of the rare platinum group metals osmium iridium rhodium and ruthenium at many prospects.

These were also found at the company’s recently discovered zones of high grade copper-nickel-PGM mineralisation at the Red Hill Prospect at the southern end of the arc.

Notably the Red Hill discovery contains some of the highest grades of PGM reported in Australia to date.

Impact has identified six targets for further drilling at Red Hill.

Cauldron Energy (ASX:CXU) climbed 11.1% to $0.10 while Grand Gulf Energy (ASX:GGE) is up 16.7% to $0.007.


Blue Chip Stocks

Major Miners
 
BHP Billiton (ASX:BHP) down 1.8% to $29.61
Fortescue Metals Group (ASX:FMG) down 3.5% to $2.21
Newcrest (ASX:NCM) down 1.4% to $14.48
Rio Tinto (ASX:RIO) down 0.1% to $57.37


Oil and Gas

Oil Search (ASX:OSH) down 0.6% to $7.29
Santos (ASX:STO) down 1.2% to $8.10
Woodside Petroleum (ASX:WPL) down 0.7% to $34.34


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.8% to $32.04
Commonwealth Bank (ASX:CBA) down 0.3% to $82.77
National Australia Bank (ASX:NAB) down 1.1% to $33.62
Westpac (ASX:WBC) up 0.4% to $32.36


Other banks financials and industrials

AMP (ASX:AMP) down 2.1% to $6.30
Bank of Queensland (ASX:BOQ) down 0.7% to $12.93
Bendigo and Adelaide Bank (ASX:BEN) down 1.4% to $12.11
Macquarie Group (ASX:MQG) down 0.9% to $78.81
Suncorp (ASX:SUN) down 0.7% to $13.14
Telstra (ASX:TLS) down 0.8% to $6.14

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