Materials stocks advanced 2% at midday Friday, as gold prices rose 1.37% and iron ore prices rose 0.39%.
Catalyst Metals (ASX:CYL) achieved its first stoping ore at its Plutonic East underground mine on time and within budget, at its Plutonic gold mine in Western Australia. It plans to expand production across the Plutonic Gold Belt over the next 12 to 18 months by developing its K2 and Trident projects.
On the flip side, the energy sector struggled, declining almost 1%. Wall Street's benchmark S&P 500 index entering a correction.
Boss Energy (ASX:BOE) said that Nasdaq-listed enCore Energy started up the second Ion Exchange (IX) Circuit at the Alta Mesa Central Processing Plant at the Texas project, where it holds a 30% interest. The plant is currently operating at about 75% of its total designed flow rate capacity, with existing constraints due to wellfield development.
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