S&P/ASX 200 jumps 1.19% to near its highest level in seven sessions

S&P/ASX 200 (INDEXASX:XJO) has gained 1.19% to 6,742 by about 1.56 pm with all sectors on the ASX advancing. The biggest gainers have been the financials, materials and healthcare sectors. Australia’s big four banks have all surged with Westpac Bank (ASX:WBC) lifting 2.24% and ANZ Bank (ASX:ANZ) rising 1.57%. Rio’s iron ore shipments remain steady Major miners have gained with Rio Tinto (ASX:RIO) adding 0.97% with the miner releasing a fourth quarter production update ahead of its full profit release in February. Its major shipment, iron ore remained steady on the period before at 89.9 million tonnes (mt) over the quarter and 2020 shipments came in at 330.6 mt. Rio’s 2021 guidance is expected to be between 325-340 mt. Top gainers Today’s top gainers on the ASX include Lithium Australia NL (ASX:LIT) (+33.33%), Latin Resources Ltd (ASX:LRS) (+18.75%), Australian Vanadium Ltd (ASX:AVL) (+16.67%), Arafura Resources Limited (ASX:ARU) (+16.28%), Arrow Minerals Ltd (ASX:AMD) (+25.00%), Jindalee Resources Limited (ASX:JRL) (+16.15%) and Walkabout Resources Ltd (ASX:WKT) (+12.00%). Proactive news headlines: Elementos’ drilling at flagship Oropesa Project in Spain further confirms zones of tin mineralisation Elementos Limited’s (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) drilling campaign aimed at converting existing inferred resources into indicated resources at its flagship Oropesa Tin Project in Spain has confirmed significant zones of mineralisation.  Musgrave Minerals high-grade, near-surface results extend Target 5 prospect within Cue Gold Project Musgrave Minerals Ltd (ASX:MGV) (OTCMKTS:MGVMF) has received further strong, near-surface, high-grade aircore drilling results which extend gold mineralisation at Target 5 within the Cue Gold Project in Western Australia to more than 120 metres. Lithium Australia subsidiary set to capitalise on booming lithium ferro phosphate battery market Lithium Australia NL’s (ASX:LIT) (FRA:3MW) battery research and development subsidiary VSPC is set to capitalise on a lithium ferro phosphate battery market that is expected to expand by 500 per cent by 2030. American Rare Earths cashed up after sale of cobalt shares in Cobalt Blue American Rare Earths Ltd (ASX:ARR) has improved its cash position to A$5 million following the sale of 8 million of its shares in Cobalt Blue Holdings Ltd (ASX:COB) (OTCMKTS:CBBHF) (FRA:COH) for proceeds of A$2,468,822. Latin Resources intersects bright white kaolin up to 50 metres thick at Noombenberry Halloysite-Kaolin Project Latin Resources Ltd’s (ASX:LRS) first pass and infill aircore drilling has confirmed highly encouraging significant intersections of bright white kaolinite across the area tested at its 100%-owned Noombenberry Project, east-southeast of Merredin in Western Australia. European Lithium skyrockets as institutional and high net worth investors show strong support for A$7 million placement European Lithium Ltd (ASX:EUR) (FRA:PF8) (VSE:ELI) (NEX:EUR) has soared on receiving strong support from institutional and high net worth investors for a placement that will boost the company’s cash balance by A$7 million. Auroch Minerals kicks off drilling at high-grade Nepean Nickel Project near Coolgardie, WA Auroch Minerals Ltd (ASX:AOU) has drilling underway at its high-grade Nepean Nickel Project, 25 kilometres south of Coolgardie, WA, to target a series of untested and highly prospective aeromagnetic targets to the north and south of the mine. Auteco Minerals strong gold drilling results support strategy to extend Pickle Crow Auteco Minerals Ltd (ASX:AUT) (OTCMKTS:MNXMF) is confident that strong drilling results pave the way for an increase in the inferred resource at its Pickle Crow Gold Project in Canada, which currently sits at 1 million ounces at 11.3 g/t gold. Westar Resources identifies six high-priority gold drill targets at Winjangoo Project following auger drill program Westar Resources Ltd (ASX:WSR) has identified six high-priority drill targets at its 100%-owned Winjangoo Gold Project, north of Mt Magnet in WA, following the completion of a 749-sample auger drilling program. Castillo Copper considers divestment strategies, including spinning-off prime Broken Hill asset Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) is considering divestment opportunities, including a possible spin-off of its sizeable Broken Hill Alliance (BHA) Project into a new vehicle, which could be listed in either London or Australia to capitalise on the prevailing base and precious metal upcycle. Thor Mining's gold assets energise the share price Thor Mining PLC (ASX:THR)(LON:THR) specialises in exploration and the development of gold and base metals resources in Australia and the US.