Miners backed as metals rise

LED by the gold patch, the Metals & Mining index closed up 0.7% ahead of the Australia Day long weekend.

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Surging metal prices overnight buoyed ASX investors with the bulk of the traditional bigger mining names in the sector attracting attention – and lithium stocks getting ignored.

Gold miners Resolute and Saracen were among the better performers, as was nickel miner Western Areas, with its commodity of choice, nickel, enjoying an excellent night on the LME. 

Lower down, gold’s jump helped highly leveraged Blackham Resources (BLK) gain more than 47% in late trade, with the gold miner being in a world of pain last year as it tried to get the Wiluna gold operation up to speed.

Elsewhere among the juniors, graphite hopeful Renascor Resources (RNU) rose as much as 30% after it reported the possibility ...

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