S&P/ASX 200 gains 0.53% as Reserve Bank Governor signals possible rate cut

S&P/ASX 200 (INDEXASX:XJO) gained 0.53% to 6212 by around 3.07 pm after the Reserve Bank Governor Philip Lowe provided an update on the economy, job market and the policy response to the pandemic recession this morning. Speaking at the Citi Australia and New Zealand Annual Investment Conference, Lowe highlighted some of the possible impacts of policy easing on the economy. He said: “As the economy opens up, though, it is reasonable to expect that further monetary easing would get more traction than was the case earlier. “We have been considering what more we can do to support jobs, incomes and businesses in Australia to help build that important road to the recovery." However, he added that “The board has not yet made any decisions.” Top gainers Today’s top gainers on the ASX include Australian Strategic Materials (ASX:ASM) (+11.08%), Opyl Ltd (ASX:OPL) (+11.43%), Element 25 Ltd (ASX:E25) (+8.43%), PNX Metals Ltd (ASX:PNX) (+9.09%), CV Check Ltd (ASX:CV1) (+10.34%), Pure Minerals Ltd (ASX:PM1) (+50.00%) and Cipherpoint Ltd (ASX:CPT) (+10.00%). Proactive news headlines: American Rare Earths set to begin drilling at La Paz Rare Earth Project in November American Rare Earths Ltd's (ASX:ARR) wholly-owned US subsidiary Western Rare Earths is set to begin drilling next month at the La Paz Rare Earth Project in Arizona, USA. Australian Strategic Materials higher on producing high-purity zirconium metal at Korean plant Australian Strategic Materials Ltd (ASX:ASM) has produced 8.6 kilograms of high-purity zirconium metal at the commercial pilot plant of subsidiary Ziron Technology Corporation in South Korea. Anson Resources' Yellow Cat Project returns high-grade uranium and vanadium XRF results Anson Resources Ltd (ASX:ASN) has received high-grade uranium and vanadium results from XRF sampling during the initial uranium and vanadium exploration program at its 100%-owned Yellow Cat Project in the Thompson District of Grand County, Utah, USA. Infinity Lithium raises $2.41 million in entitlement offer to advance integrated European supply strategy from San José project Infinity Lithium Corporation Ltd's (ASX:INF) (FRA:3PM) cash balance has been boosted after raising more than $2.41 million in an entitlement offer and shortfall with funds to advance the company's strategy to help satisfy Europe's increasing demand for lithium through its integrated San José project in Spain. Pure Minerals soars on MOU with LG Chem for nickel and cobalt offtake from TECH Project Pure Minerals Ltd (ASX:PM1) has soared 77% after entering a non-binding MOU with LG Chem Ltd for the supply of nickel and cobalt from the TECH Project of its wholly-owned subsidiary Queensland Pacific Metals Pty Ltd (QPM). Comet Resources appoints project manager to drive gold exploration at Santa Teresa in Mexico Comet Resources Ltd (ASX:CRL) has Interminco Services as project manager of the Santa Teresa Gold Project in Baja California, Mexico, providing the company with in-country technical and commercial expertise. CV Check higher on securing first international customer in strategic white label rollout CV Check Ltd (ASX:CV1) is trading higher on signing the first international wholesale customer for its best-of-breed screening and verification solution under a strategic white label rollout. Emmerson Resources ready to capitalise on gold exploration and emerging royalty opportunities Emmerson Resources Ltd (ASX:ERM) is set to capitalise on exploration and emerging royalty opportunities while remaining in a strong financial position to deliver a revised mill and mining schedule at Tennant Creek in the NT, despite the many challenges of FY2020. MGM Wireless launches SPACETALK Life, a wearable 4G phone/watch to keep older people safe MGM Wireless Ltd (ASX:MWR) has launched SPACETALK Life – a breakthrough, all-in-one wearable 4G smartphone, watch and GPS device targeted at older people to keep them safe and connected. Rimfire Pacific readies for drilling this quarter at Lachlan Fold Belt projects Rimfire Pacific Mining NL (ASX:RIM) has mobilised a geological technical team in preparation for drilling programs this quarter at The Valley and Sorpresa projects in the Fifield area of the prolific copper-gold and gold producing Lachlan Fold Belt of NSW.