Slow session for miners

MINERS were not in fashion as the Metals & Mining index fell 1% with commodity price falls overnight not enthusing equity investors.

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All segments of the resources sector were down, with the gold patch doing “best” as it fell 0.6%.

In terms of individual equities, Mineral Resources was a clear leader after reporting strong half year results that included operating cashflow up 69% and earnings of $250 million.

Meanwhile Torian Resources (TNR) was among the better performed juniors as it moved up nearly 30% after reporting the enigmatic twins Rand Mining and Tribune Resources – both run by Anton Billis – had become cornerstone shareholders.

Torian, which is run by a successful geologist who has consulted to the twins for years, has ground adjoining the Kundana gold operation that has made Rand and Tribune a fortune.

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