Australian shares edged higher on Wednesday, with the S&P/ASX 200 up 13 points, or 0.15 per cent, to 8,685.5 at 12.15pm AEST. Six of the 11 sectors traded higher as investors awaited the US Federal Reserve’s interest rate decision, with markets pricing in a 92 per cent chance of a rate rise. Brent crude climbed around 3 per cent to US$105 a barrel as the Iran war continued, while US bond yields remained elevated.
Energy stocks benefited from the rise in oil, with Woodside up 3.5 per cent, Santos 2.5 per cent, Viva Energy 3.3 per cent and Ampol 2.3 per cent. The major banks were mostly slightly higher, while gold miners fell as bullion eased. Technology also weighed on the market, with WiseTech Global and Megaport both down more than 2 per cent.
In small cap company news:
Unity Metals identifies new gold zones in Cambodia
Unity Metals
(ASX:UM1) has identified new zones of gold mineralisation from trenching at its Ngot and O’Phlay projects in Cambodia. Results included 6 metres at 3 grams per tonne gold, including 4 metres at 4.4 grams per tonne, and 22 metres at 0.9 grams per tonne, including 2 metres at 7.7 grams per tonne. A 20-hole drilling program at O’Phlay remains scheduled to begin in October.
Silver Mines reaches key Bowdens approvals milestone
Silver Mines
(ASX:SVL) has reached a key approvals milestone for its Bowdens Silver Project in New South Wales after the Department of Planning, Housing and Infrastructure completed its assessment of additional project information. The department said the new information did not fundamentally change its previous assessment, which found the project approvable subject to strict conditions. A public hearing is scheduled for October 14 and 15, with a final decision expected by December 9.
Evergold identifies new gold zone at Duchess of York
Evergold Minerals
(ASX:EG1) has identified a new zone of shallow gold mineralisation at its Duchess of York prospect within the Mt Monger Gold Project in Western Australia. The new Vanguard zone sits around 600 metres northwest of the main zone, with results including 19 metres at 0.86 grams per tonne gold from 28 metres, including 4 metres at 2.37 grams per tonne. Follow-up drilling is planned from October as Evergold works towards a maiden mineral resource estimate for Duchess of York.
Kalamazoo expands Victorian gold-antimony footprint
Kalamazoo Resources
(ASX:KZR) has secured new exploration licences at its Mt Piper Gold-Antimony Project in Victoria, giving it continuous coverage over a 15-kilometre prospective structural corridor. First-pass drilling at Whiteheads Hill has confirmed gold-antimony anomalism, while the company plans further geophysical and geochemical work to identify targets for future drilling.
EMVision completes first mobile stroke unit study
EMVision Medical Devices
(ASX:EMV) has successfully completed the first stage of an in-field study of its portable First Responder brain scanner with the Melbourne Mobile Stroke Unit. The non-diagnostic study met its usability and workflow objectives, with scans taking an average of 6.7 minutes and no device-related adverse events reported. EMVision has also signed an agreement with the Australian Stroke Alliance to pursue funding for pre-hospital stroke diagnosis.
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