Miners lead market to new record

Press, 3 October 1979, Page 20

Miners lead market to new record

Gold stocks and base, metal producers continued tor i dominate trading on the I I mining boards on Australian | istock exchanges yesterday, !■ j after sharper overnight price I I gains for metals in both : ■ London and New York. The all-ordinaries index recorded another record high level. I Brokers described the market as being firm, with the index rising <B2 points to a new high of 692.53 points, which they said is the fifth in succession since the recent share boom ; began. GMK lead the rises on the mining boards, surging ‘ ahead 45c on Friday’s clos- , ing price to finish the day at 276 c. Central Norseman Gold ; i jumped 30c to close at 800 c ia share, while Poseidon I • firmed 25c to 156 c. Peko Wallsend shares con- i tinned to attract interest I from overseas, with the Syd- j | nev broker Rivkin and Com- i I pany buying further scrip ■and the share prices rising ' 8c to 708 c. ‘ EZ Industries, Peko's part- ■

ner in the Ranger project, I was down about 90c on Friday’s closing price of 510 c al share in Sydney, but was up 20c in Melbourne on Monday’s closing price there of 400 c. Pancontinental firmed 10c to $14.50 while Queensland I Mines was 20c easier at j 540 c.

i Kathleen Investments I closed the day steady at J 600 c after last week’s 1.000,000 order for Kathleen ishares by Pioneer Concrete. Bougainville Copper was up 2c to 255 c while MIM : firmed 7c to 455 c. I Closing prices yesterday for a selection of shares 1 were:—