Metals & Mining and Electronic Equipment & Products Lead Sector Gains on Friday

Metals & mining shares led the market on Friday, up 3.8% as a group, with Lithium Americas and NioCorp Developments rising 28.9% and 20.9%, respectively. Electronic equipment & products shares also performed well, up 3% with Plug Power and Ballard Power Systems increasing 33.4% and 22.5%, respectively.

Metals and mining shares led the market on Friday, up 3.8% as a group, with Lithium Americas and NioCorp Developments rising 28.9% and 20.9%, respectively. Electronic equipment and products shares also performed well, up 3% with Plug Power and Ballard Power Systems increasing 33.4% and 22.5%, respectively.

Riversgold (RGL) shares surged as much as 49.9% to A$0.009, their highest level since May 20, 2024, driven by a mining deal for its Northern Zone gold project near Kalgoorlie, Western Australia. The company signed an agreement with MEGA Resources, which will fund development and mining in the Northern Zone, with Oracle Power Plc receiving 50% of the profits. This deal boosted investor confidence and led to a significant increase in Riversgold's stock price. Additionally, Riversgold is set to raise A$1.8 million via a placement at an issue price of A$0.0045, further supporting its financial position Australia's Riversgold near 1-1/2-year high on mining deal for gold project^[1].

NioCorp Developments (NB) announced the commencement of a proposed public offering of common shares in the United States, with Maxim Group LLC acting as the sole placement agent. The proceeds from this offering will support the company’s working capital and advance the Elk Creek Project towards commercial operation. This move is expected to strengthen NioCorp’s position in the critical minerals market, enhancing its operational capabilities and market reach. The most recent analyst rating on NB stock is a Buy with a $8.25 price target NioCorp Launches Public Offering to Boost Elk Creek Project^[2].

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