The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) continues to slide, and has now dropped 0.7% in mid-afternoon trade. The big banks and insurers are leading the way down.
But several companies have gone for a gallop today, rising more than 8%. Here's our take…
Northern Minerals Ltd (ASX: NTU) has soared 14.3% to 28 cents, and is up 43% since Monday. The company received a speeding ticket from the ASX, but says it doesn't know why the shares have soared. It may be related to an announcement the company made in late August – regarding its Browns Range Project in WA. Northern Minerals says it has appointed consultants for the Feasibility Study. Browns Range holds a number of potentially commercial deposits of rare earth ores (REO).
TNG Limited (ASX:TNG) climbed 14.7% to 17.2 cents. The junior explorer today announced that it had discovered a thick graphite zone at its 100%-owned Mount Peake vanadium project in the Northern Territory. TNG says the project holds licences over 1,900 square kilometres in a highly prospective but poorly explored region. Demand for graphite is expected to soar – given its use in batteries and renewable enrgy.
Gold miner Kingsrose Mining Limited (ASX: KRM) has jumped 13.4% to 46.5 cents. Kingsrose managing director Scott Huffadine has been presenting to analysts and investors over the past two weeks. Kingsrose operates the Talang Santo mine in Indonesia, and is developing a second mine – Way Linggo close by. Talang Santo is currently ramping up to full production – expected by mid-October 2014.
Premier Investments Ltd (ASX: PMV) added 8.2%, after the retailer today reported double digit growth in earnings for the 2014 financial year. The owner of Just Jeans, Smiggle, Peter Alexander, Portmans, Dotti and Jacqui E, says all its retail brands delivered positive like-for-like growth in the second half of the financial year – something few retailers can boast.
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