CAPITAL MARKETS

Markets, copper up

Western Areas and Callinex on the rise

Staff reporter
 Callinex gained as it pointed to drilling starting at its Nash Creek and Superjack projects in New Brunswick

Callinex gained as it pointed to drilling starting at its Nash Creek and Superjack projects in New Brunswick

Copper climbed more than 1% on the London Metal Exchange as copper mines in Chile were impacted by workers joining anti-government protests

Zinc-focused Callinex Mines (TSXV: CNX) jumped 38.4% or C20c to 72c on announcing it had started its 2019 Bathurst drilling campaign in New Brunswick at the Nash Creek and Superjack projects, where it's hoping to show "district-scale potential" and enhance the economics from last year's PEA.

Toronto's S&P/TSX Composite Index closed lower but its metals and mining sector finished in positive territory.

Hudbay Minerals (TSX: HBM) rose 3.7% but remains down 25.7% year-to-date.

In Australian trade, gold equities were lower on the S&P/ASX200 but diversified miners were higher, with BHP (ASX: BHP) up about 1%.

Nickel producer Western Areas (ASX: WSA) hit a one-year high intraday of A$3.40 following yesterday's strong quarterly results.

It was up about 3% at the time of writing, a 67% rise so far this year.

Finally, market futures were mixed and the gold price was worth just over US$1,492 an ounce on the spot market.

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