S&P/ASX 200 (INDEXASX:XJO) jumped to a new nine-month intraday high of 6594 by noon and was trading 0.50% higher at 6572 by about 1.37 pm.
Iron ore is on a 6-day winning streak, rising to nearly US$130 a tonne underpinned by robust demand from Chinese steel mills.
The price of iron ore has surged by about 10% this month and is near a 6-year high.
Local miners made solid gains with BHP Group (ASX:BHP) adding 3.32%, Rio Tinto (ASX:RIO) up 1.5% and Fortescue Metals (ASX:FMG) surging 4.48%.
Zip Co (ASX:Z1P) shares gained after achieving year-to-date revenue growth of 91% to $96.7 million, which included October monthly revenue of $27.6 million.
The company’s transaction volume in October more than doubled to $401.1 million and annualised transaction volume is now at $4.8 billion.
Today’s top gainers on the ASX include Alta Zinc Ltd (ASX:AZI) (+20.00%), Opyl Ltd (ASX:OPL) (+11.11%), Imugene Limited (ASX:IMU) (+20.00%), Corazon Mining Ltd (ASX:CZN) (+33.33%), PNX Metals Ltd (ASX:PNX) (+12.50%), Fenix Resources Ltd (ASX:FEX) (+14.29%) and BlackEarth Minerals NL (ASX:BEM) (+11.63%).
Pantoro Limited (ASX:PNR) has received further high-grade results from a four-hole follow-up drilling program at Sailfish Prospect on Lake Cowan at the Norseman Gold Project in WA’s Eastern Goldfields.
Vango Mining Ltd’s (ASX:VAN) initial four holes at the Contessa Prospect of the Ned’s Creek JV project with Lodestar Minerals Ltd (ASX:LSR) in Western Australia, show significant intersections and confirm open-pit resource potential.
Artemis Resources Ltd (ASX:ARV) ongoing drilling at its 100%-owned Carlow Castle Project in the west Pilbara region of Western Australia has revealed a high-grade gold and copper discovery well below the existing 2019 JORC resource envelope.
Australian Potash Ltd (ASX:APC) has signed a fifth offtake agreement which takes total offtake secured from the Lake Wells Sulphate of Potash Project (LSOP) in Western Australia to 100% of the 150,000 tonnes annual output outlined in the definitive feasibility study (DFS).
K2fly Ltd (ASX:K2F) has completed the integration of software developer SATEVA and has officially launched its high-performance storage and analytics solution – Model Manager – to miners globally as well to its existing mineral inventory customer base.
Imugene Limited’s (ASX:IMU) (OTCMKTS:IUGNF) ongoing randomised Phase 2 study of HER-Vaxx in Her-2/Neu overexpressing advanced metastatic gastric/GEJ cancer shows positive overall survival (OS) with a Hazard Ratio of 0.418.
BlackEarth Minerals NL (ASX:BEM) is encouraged by results from its first program of field exploration on the Donnelly River Nickel-Copper-Platinum Group Metals (PGM) south of Perth, Western Australia.
Element 25 Limited’s (ASX:E25) (FRA:QFP) project development activities continue to accelerate at its 100%-owned Butcherbird Manganese Project in Western Australia, with the appointment of a mining contractor and resident manager.
Hot Chili Ltd’s (ASX:HCH) (OTCMKTS:HHLKF) central copper hub, Costa Fuego, which combines all three of its projects – Cortadera, Productora and San Antonia – is set to become amongst the largest copper mineral resources along the Chilean coastal range.