Market Update: Understanding the Performance of Markets on 15th May 2020

  • May 15, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 15th May 2020

 

At the end of the trading session on 15th May 2020, equity market of Australia closed in green. S&P/ASX200 settled at 5404.8, indicating a rise of 76.1 points. S&P/ASX 300 Metals and Mining (Industry) moved up by 145.2 points or 3.74% to 4,027.2. S&P/ASX 200 Energy (Sector) settled the day at 6,976.7, reflecting an increase of 1.92% on an intraday basis. All Ordinaries inched up by 1.38% to 5492.8 at the close of the same session.

On ASX, Silver Lake Resources Limited (ASX:SLR) rose by 8.861% and ended at $2.150 per share. Gold Road Resources Limited (ASX:GOR) went up by 7.12% to $1.655 per share.

S&P/NZX50 closed the trading session at 10,731, reflecting a decline of 0.13%. Chatham Rock Phosphate Limited (NZX: CRP) soared 10.43% to NZ$0.127 per share. Freightways Limited (NZX: FRE) zoomed up to 5.22% to NZ$$7.250 per share. On the other hand, Mercer Group Limited (NZX: MGL) witnessed a sharp fall of 11.11% and closed the day at NZ$0.240.

Recently, we have written an article on Taruga Minerals Ltd (ASX:TAR), which could be beneficial for the readers. Readers can view the information by clicking here.

Silver Lake Resources Limited Rose 8.861% on Australian Stock Exchange

Silver Lake Resources Limited (ASX: SLR) recently announced that Van Eck Associates Corporation and its associates have become substantial holder in the company with the voting power of 9.66%. During the quarter ended March 2020, the company reported gold and copper production of 65,548 ounces and 438 tonnes, respectively. At Mount Monger, the company recorded production of 41,971 ounces gold and noted sales of 43,912 ounces at an AISC of A$1,463/oz. The company ended the quarter with cash and bullion of $227 million and zero debt balance. For FY20, the company has upgraded its sales guidance to between 250,000 to 260,000 ounces gold at an AISC in the range of A$1,300/oz-1,350/oz.

Gold Road Resources Limited Ended in Green on 15th May 2020

Gold Road Resources Limited (ASX: GOR) recently notified the market that Timothy Carl NETSCHER has made a change to holdings in the company by acquiring 8,000 fully paid ordinary shares for a consideration of $13,520. For the three months ended 31st March 2020, Gruyere reported gold production of 59,595 ounces at an AISC of A$1,135/oz. The company has recorded attributable gold sales of 31,700 ounces at an average price of A$2,001 per ounce. GOR managed to close the quarter in a strong liquidity position with cash and bullion on hand of $115 million, and the $100 million Revolving Credit Facility drawn to a total of $80 million. For FY20, the company is expecting annual production from Gruyere in the range of 250,000 ounces to 285,000 ounces at an AISC guidance of between A$1,100/oz – A$1,200/oz.

 


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