Miners lead the way

AUSSIE shares put in a strong performance today, with miners again leading the pack.

Andrew Duffy

The S&P/ASX 200 shrugged off losses in the previous two sessions to rise 85 points to 5468, with the materials sector up 2.7%.

The big miners dominated the top 200, with BHP Billiton up 3.3% to $A36.43 and Rio Tinto up 2.2% to $59.24.

Other big stocks at the top of the winners list included Regis Resources, which rose an impressive 7.1% to $1.63, while Newcrest Mining lunged 2.4% to $10.39.

Fortescue Metals Group continued its strong turnaround amid the rising iron ore price, gaining another 4.9% to $4.22.

Things were positive at the smaller end of the market as well, with Botswana Metals rocketing 26.2% to 2.4c after a review of previous drilling boosted its exploration prospects.

Golden Rim Resources also jumped 37.5% to 1.1c after releasing impressive rock chip sampling at the Korongou gold project in Burkina Faso.

Elsewhere, Monteray Mining climbed 37.5% to 1.1c, while Perseus Mining gained 16% to 36c on high-grade drilling results from a target at its Edikan gold mine in Ghana.

On the negative side, IMX Resources plunged 37.5% to 2.5c after it appointed an administrator to its 51%-owned subsidiary Termite Resources, operator of the Cairn Hill magnetite-copper operation in South Australia.

Talga Resources received a speeding ticket from the ASX after its shares rose more than 30% over the past two sessions.

Shares in Talga closed 5.4% down today to 35c.

Finally, Mantle Mining was placed in suspension pending details on a capital raising.