Another topsy-turvy day has seen the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) close up 0.2% at 5,248.30, after suffering big falls early on in the session.
The gold sector was the highlight, rocketing up 4% after the spot gold price gained 0.5% overnight.
BC Iron Limited (ASX: BCI) saw its share price rise 18.9% to $0.315 after releasing its September quarterly activities report. The junior iron ore miner reported that it had cut C1 cash costs to A$44 per metric tonne, and all-in cash costs to A$52 per tonne. BC Iron reported receiving an average price of A$65 per dry metric tonne over the quarter, leaving it with a decent margin. The company also increased its cash balance to $71.8 million.
Resolute Mining Limited (ASX: RSG) share price climbed 11.4% to $0.44. The gold miner was benefitting from a small rise in the gold price overnight. Spot gold gained 0.5% as we mentioned earlier, at US$1,177 an ounce, with further expectations that more gains could be ahead. Gold has gained around 9% in the past month, as the US Fed could delay its rate hiking cycle.
Intueri Education Group Ltd's (ASX: IQE) share price soared 10.5% to $1.05. The vocational education group provides training to students from Australia, New Zealand and around the world. The company has been tarred with the same brush as other companies in the vocational training sector, following a series of scandals. Intueri's share price is still down nearly 60% since October last year. Today's share price gains could be bargain hunters coming back into the market.
Monadelphous Group Limited (ASX: MND) saw its share price jump 7% to $7.45. The mining services, construction and engineering group announced today that it had formed a joint venture with US-based Mascaro Construction – to be called Monaro. (Holden fans should be delighted). The JV company will target the US oil, gas, chemical and energy sectors and appears to the first phase of Monadelphous' plan to enter overseas markets.
