S&P/ASX 200 back in green as gold and iron ore miners shine

S&P/ASX 200 (INDEXASX:XJO) is back in positive territory gaining 0.25% to 5957 points at 12.41 pm after losing as much as 1% in early trade. Iron ore and gold mining giants helped the index pare losses after gold prices climbed 0.4% to US$1,749.54 per ounce – its highest in a month as surging COVID-19 infections intensified concerns over a delay in global economic recovery and prompted investors to seek the safe-haven metal. Newcrest Mining (ASX:NCM) is up 2.7% to $30.66, Saracen Minerals (ASX:SAR) is up 3.6% and Evolution Mining (ASX:EVN) is up 2.1%. Northern Star gained 4.4% after revealing its plan to sell the Ashburton Project to Kalamazoo Resources (ASX:KZR). BHP (ASX:BHP) is up 1.3% , Rio Tinto (ASX:RIO) 0.8% and Fortescue Metals (ASX:FMC) 0.5%. Austal shares rose 9.8% after announcing a $73.2 million contract with the US Department of Defence that will maintain and protect shipbuilding capability over the next two years at its US operations. World news China kept its benchmark lending rate unchanged today, with the 1-year loan prime rate kept steady at 3.85%. The 5-year loan prime rate was also kept unchanged at 4.65%. Oil prices rose in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.66% to US$42.47 per barrel. Investors are awaiting market reaction to the rising number of coronavirus cases in the US, with more than 30,000 new infections reported on Friday and Saturday — the highest daily totals since May 1. Other top gainers Other top gainers on the ASX today include VRX Silica Ltd (ASX:VRX) (+10.00%), Walkabout Resources Ltd (ASX:WKT) (+10.00%), Pantoro Ltd (ASX:PNR) (+9.52%), Cipherpoint Ltd (ASX:CPT) (+28.00%), Galena Mining Ltd (ASX:G1A) (+11.36%), Archtis Ltd (ASX:AR9) (+18.07%) and Argonaut Resources NL (ASX:ARE) (+14.29%). Proactive news headlines engage:BDR enters partnership with leading publisher management platform FatTail engage:BDR Ltd (ASX:EN1) has entered a new strategic programmatic partnership with FatTail, a leading publisher management platform. FatTail will bring direct and incremental access to thousands of top-tier publishers that EN1 does not currently work with, including Forbes, Conde Nast, Hearst and WebMD via its AdBook+ software. Wiluna Mining set for transition to stage 1 sulphide production after putting funding in place Wiluna Mining Corporation (ASX:WMX) (OTCMKTS:BKHRF), formerly known as Blackham Resources Ltd (ASX:BLK), is set for its transition to stage 1 sulphide production after putting in place financing and extending the term of its executive chairman Milan Jerkovic. So far, the company has completed the first of its five core objectives and is now placing priority on the remaining strategies to achieve its goal of producing more than 250,000 ounces per annum. Moho Resources to acquire remaining 30% of East Sampson Dam gold mining lease Moho Resources Ltd (ASX:MOH) has signed a Heads of Agreement (HOA) with Odin Metals Ltd (ASX:ODM) to acquire the remaining 30% of a mining lease on Silver Swan North Project in Western Australia, which includes the highly prospective and mineralised East Sampson Dam gold prospect. Termination of the joint venture with Odin on mining lease M27/263, which will provide Moho with 100% of the project, simplifies the management of technical programs and removes budget constraints. De Grey Mining gold results at Hemi Discovery show extended high-grade footprint De Grey Mining Limited (ASX:DEG) continues to grow the gold footprint at Hemi Discovery in WA with reverse circulation (RC) drilling intersecting further shallow high-grade gold. Near-surface, broad high grades have been intersected at Aquila prospect while the Aquila Zone has been extended 400 metres to the west and is open along strike and at depth. Cassini Resources to be acquired by mid-tier OZ Minerals Limited Cassini Resources Ltd (ASX:CZI) (FRA:ICR) has executed a scheme of arrangement under which mid-tier miner OZ Minerals Limited (ASX:OZL) (OTCMKTS:OZMLF) (FRA:OXR) will acquire all of the issued and to be issued shares of Cassini. This binding scheme implementation deed will result in OZ Minerals consolidating 100% ownership of the West Musgrave Project and surrounding tenements to 100%. Danakali pursues potential Colluli Potash Project optimisation opportunities Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) has not been resting on its laurels during the COVID-19 restrictions with potential optimisation opportunities identified for the Colluli Potash Project in Eritrea and investigations are underway to improve outcomes. During EPCM Phase 2 work project owner Colluli Mining Share Company (CMSC), a 50:50 JV between Danakali and Eritrean National Mining Corporation (ENAMCO), identified and began additional test-work.