S&P/ASX 200 claws back earlier losses as bank notes in circulation soars

S&P/ASX 200 (INDEXASX:XJO) fell 1.4% at the open but has recovered its losses by around mid-day and was trading 0.58% higher at 6646 points by about 1.50 pm. The materials, healthcare, consumer and information technology stocks were outperforming with utilities, telecom and energy stocks still in the red. The value of bank notes in circulation stood at $98.1 billion in December 2020, up 17.8% on a year ago – the fastest annual growth in almost 19 years. Perth announced a five-day lockdown on Sunday after a hotel quarantine security guard returned a positive COVID-19 test. Supermarket chains in WA have introduced buying limits due to panic buying of certain items. Top gainers Today’s top gainers on the ASX include Creso Pharma Ltd (ASX:CPH) (+15.38%), Matador Mining Ltd (ASX:MZZ) (+14.04%), PNX Metals Ltd (ASX:PNX) (+14.29%), Engage:BDR Ltd (ASX:EN1) (+20.00%), White Rock Minerals Ltd (ASX:WRM) (+13.73%) and Red River Resources Limited (ASX:RVR) (+9.09%). Proactive news headlines: Pan Asia Metals completes the first-ever hole at Reung Kiet Lithium Project Pan Asia Metals Limited (ASX: PAM) has completed drilling the first-ever hole at the highly prospective Bang I Tum prospect within Reung Kiet Lithium Project (RKLP) in southern Thailand. Sipa Resources near-term focus is on supporting planned exploration program for 2021 Sipa Resources Ltd (ASX:SRI) has renewed focus on receiving the necessary approvals and permits to support drilling for its planned 2021 exploration program. Matador Mining hits 18 metres at 11 g/t gold in recent exploration drilling results at Cape Ray Matador Mining Ltd (ASX:MZZ) hits 18 metres at 11 g/t gold and 19 metres at 4.6 g/t gold following having received exploration drill results at the Cape Ray Gold Project in Newfoundland, Canada. Miramar Resources outlines regolith gold anomalism over four kilometres within mineralised structure at Gidji JV Project Miramar Resources Limited (ASX:M2R) has outlined regolith gold anomalism over four kilometres within a mineralised structure during recently concluded aircore drilling at the company’s 80% owned Gidji JV Project in Western Australia. Kingwest Resources drilling at Goongarrie Project discovery returns strong gold grades Kingwest Resources Ltd (ASX:KWR) has received the first assays from its inaugural aircore drilling program at the highly prospective Goongarrie Gold Project (GGP) in Western Australia. Lithium Australia completes an extension to the infill geochemical soil survey on Mount Day JV tenement in Western Australia Lithium Australia NL (ASX:LIT) has received the interpretations of results from a soil survey conducted on the Mount Day JV tenement with Okapi Resources (ASX:OKR) at Lake Johnston in Western Australia, confirming the gold-in-soil anomaly over around 2 kilometres in strike. Musgrave Minerals intersects high-grade gold in first RC holes at White Heat Prospect at Cue Gold Project, WA Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) has reported strong reverse circulation (RC) assay results from the newly discovered White Heat prospect on its 100%-owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district. Havilah Resources confirms further economic copper and gold results from West Kalkaroo drilling Havilah Resources Ltd (ASX:HAV) (FRA:FWL) has reported further economic-grade copper and gold drilling results in the last three reverse circulation (RC) drill holes from its 2020 West Kalkaroo drilling campaign. Jindalee Resources intersects substantial lithium mineralisation in December drilling at McDermitt ahead of potential scoping study Jinadalee Resources Ltd (ASX:JRL) has received the first assay results from 10 of 15 drill holes completed in December 2020, which have intersected substantial thickness of the flat-lying sediments hosting lithium mineralisation at the McDermitt Project in Utah, US. K2fly to buy ‘Decipher for Mining’ assets for $3.7 million in shares and additional performance shares K2fly Ltd (ASX:K2F) is acquiring the business assets associated with ‘Decipher for Mining’ (Decipher) from CSBP Ltd (CSBP) and Wesfarmers Chemicals, Energy & Fertilisers Ltd (WesCEF) for 3.7 million in shares, plus performance shares. Lotus Resources discovers high-grade rare earth oxides at Kayelekera Project in Malawi Lotus Resources Ltd (ASX:LOT) has found high-grade rare earth oxide (REO) material up to 16% total REO and 3.4% critical REO at the Milenje Hills prospect, 2 kilometres from its Kayelekera Uranium Mine in Malawi, after a preliminary low-cost exploration program. Creso Pharma welcomes OTC sales of CBD products in Australia as it prepares to move into Australian market through Martin & Pleasance agreement Creso Pharma Ltd (ASX:CPH) (FRA:1X8) (OTCMKTS:COPHF) has welcomed the introduction of over-the-counter sales of low-dose cannabidiol (CBD) products in Australian pharmacies from 1 February 2021. Great Southern Mining cements position as major gold explorer in Laverton Goldfields with options over three large exploration licenses around Cox’s Find Gold Project Great Southern Mining Ltd (ASX:GSN) has cemented its position as a major gold explorer and developer in the Laverton Goldfields in Western Australia after it secured an exclusive, irrevocable option over three large exploration license applications around its Cox’s Find Gold Project in the Laverton region, Western Australia.