Market Update: S&P/ASX200 Ended in Green; LYC Soared by 11.982%

  • Jul 27, 2020 AEST
  • Team Kalkine
Market Update: S&P/ASX200 Ended in Green; LYC Soared by 11.982%

On 27th July 2020, equity market of Australia closed in green and the benchmark index S&P/ASX200 went up by 20.2 points to 6044.2. During the last one month, the index has gained 2.37%. S&P/ASX 200 Industrials (Sector) stood at 5,607.1, reflecting a rise of 15.1 points. S&P/ASX 200 Materials (Sector) witnessed an increase of 222 points and closed the session at 14,394.9. At the end of the same session, All Ordinaries moved up by 21.6 points to 6169.6.

S&P/ASX200 Performance (Source: ASX)

On ASX, the share price of Lynas Corporation Limited (ASX: LYC) settled at $2.430 per share. The stock of Resolute Mining Limited (ASX: RSG) moved up by 5.882% to $1.440 per share.

S&P/NZX50 closed the session at 11,586, indicating a fall of 0.44%. The stock of Pacific Edge Limited (NZX: PEB) rose by 11.59% to NZ$0.770 per share. The share price of Metro Performance Glass Limited (NZX: MPG) inched up by 10.00% to NZ$0.220 per share. On the other hand, the stock of SMW Group Limited (NZX: SMW) tumbled by 73.42% to NZ$1.100 per share.

We have written some crucial information on MGC Pharmaceuticals Ltd (ASX: MXC), and the readers can view the article by clicking here.

Lynas Corporation Limited Signed Contract with the US Department of Defense.

Lynas Corporation Limited (ASX: LYC) recently announced that it has inked a contract with the U.S. Department of Defense for Phase I work on a U.S. based Heavy Rare Earth separation facility. The development of a Heavy Rare Earths separation facility is a key initiative of the company’s “Lynas 2025” growth plan. The company would utilise its inhouse intellectual property and proven track record in Rare Earths separation to design and operate the Heavy Rare Earths separation facility. During the quarter ended June 2020, the company reported invoiced sales revenue amounting to $38 million. Sales receipt for the quarter stood at $42 million. The company ended the quarter with a cash balance of $101.7 million.

Saracen Mineral Holdings Limited Ended in Green on 27th July 2020.

Saracen Mineral Holdings Limited (ASX: SAR) recently notified the market that Mitsubishi UFJ Financial Group, Inc. has ceased to become a substantial holder in the company on 20th July 2020. During the June 2020 quarter, the company reported production of 145,830oz at an AISC of $1,152/oz. Gold sales for the period stood at 148,011oz at an average price of $2,280/oz. For FY20, the company reported production of 520,414 ounces at an AISC of $1,101/oz, surpassing the FY20 guidance of +500,000 ounces. SAR reported unaudited sales revenue amounting to $1,072 million for FY20. As of 30th June 2020, the cash and bullion of the company stood at $369 million after a debt repayment of $39 million, tax payment of $16 million and investment of $91 million on growth capital and exploration. For FY21, the company expects production of more than 600,000 ounces.

 


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