Tech sector down, gold miners up - that's the theme today as the US-China trade war boils over.
St Barbara share price was slashed by nearly 30% in March when the company announced disappointing results of its feasibility study at its Gwalia Mass project. Since the beginning of the year, the miners shares have has tumbled almost 40%.
The latest news out of the company is an update centred on a feasibility study for the ‘Gwalia Mass Extraction’ project and lowered FY19 guidance at its Gwalia operation.
On what was expected to be another disappointing day for the ASX, the index has instead made impressive gains in the opening hour of trade. Leading the charge is Resolute Mining Limited [ASX:RSG], up seven cents, or 5.94%, to $1.16 per share. The move comes...
Regis Resources' share price is up 5.20% since trading began this morning. It’s currently trading at $4.62, up 22 cents. The move comes as the gold price regains its momentum as investors begin to steer away from a battered global equities market.
Australian gold producers have had a strong start this morning despite another slide on Wall Street. St Barbara Ltd [ASX:SBM] is up 7.91% this morning to $4.025 on the back on of gold’s strongest gain in two years.
As of late, the company’s focus has been to invest and improve in the exploration, extraction and development of the precious metal gold. Unfortunately, this left St Barbara tackling a difficult last quarter of FY18, with around $1.22 million of the $2.32 million insider shares being divested since March of this year.
St Barbara Ltd [ASX:SBM] share price picked up another 2.35% in today’s trading. Year-to-date, SBM shares have picked up more than 50% in gains, vastly outperforming some of the other stocks in the Aussie stock universe.