S&P/ASX 200 hovers near the flatline as investors watch earning figures

S&P/ASX 200 (INDEXASX:XJO) was trading about 0.012% higher at 6,857.70 points by about 3.20 pm after see-sawing between small gains and losses throughout the opening few hours. Gold miner Newcrest Mining (ASX:NCM) gained 5.7% after its first half earnings beat market expectations on the back of strong gold prices and better than expected cash flows. Newcrest’s first half profit doubled to about US$553 million and the company is planning to enhance its dividend payout ratio from 10-30% to 30-60%. Stem cell developer Mesoblast Ltd (ASX:MSB) shares jumped as much as 13% after the company revealed phase 3 trial results for its back pain study. The company said that its study of 404 patients with chronic pain showed the treatment “may provide a safe, durable, and effective opioid-sparing therapy for patients with chronic inflammatory back pain due to degenerative disc disease”. Top gainers Today’s top gainers on the ASX include Montem Resources Corp (ASX:MR1) (+9.76%), Valor Resources Ltd (ASX:VAL) (+33.33%), Carnavale Resources Limited (ASX:CAV) (+14.29%), Auroch Minerals Ltd (ASX:AOU) (+15.09%) and MGC Pharmaceuticals Ltd (ASX:MXC) (+26.83%). Proactive news headlines: Proactive to host Gold Webinar on Tuesday, February 16, showcasing three ASX-listed companies Proactive will host a Gold Webinar next Tuesday, February 16, showcasing three ASX-listed companies – Yandal Resources (ASX:YRL), Alto Metals (ASX:AME) and Horizon Metals (ASX:HRZ). Australian Strategic Materials produces rare earth permanent magnets at Korean facility Australian Strategic Materials Ltd’s (ASX:ASM) high-purity neodymium-iron-boron (NdFeB) powder from its Ziron Tech pilot plant in Korea has been used by the Korean Institute of Rare Metals (KIRAM) to produce rare earth permanent magnets. Core Lithium's high-grade results from Grants expected to strengthen Finniss lithium resource Core Lithium Ltd’s (ASX:CXO) (OTCMKTS:CXOXF) latest drill results from the Grants Deposit are expected to strengthen the current resource at the company’s wholly-owned Finniss Lithium Project in the Northern Territory. Element 25 at new high on receiving final groundwater allocation approvals for Butcherbird Manganese Project Element 25 Ltd (ASX:E25) has received confirmation from the Department of Water and Environmental Regulation (DWER) that a groundwater abstraction allocation of 1 gigalitre per year has been approved for the Butcherbird Manganese Project. Predictive Discovery high-grade gold results further extend Bankan Creek discovery Predictive Discovery Ltd (ASX:PDI) has received assay results from three additional diamond drill holes at the Bankan Gold Project in Guinea, West Africa, demonstrating that mineralisation extends at least 160 metres north along strike with widths of 50 to 100 metres on three drill sections. FYI Resources’ joint pilot plant trial surpasses expectations, delivering average of 99.9986% aluminium oxide purity FYI Resources Ltd’s (ASX:FYI) (FRA:SDL) high purity alumina (HPA) pilot plant trial conducted in collaboration with Alcoa of Australia Ltd has delivered results described as "outstanding", consistently achieving purity levels higher than 99.998% aluminium oxide. VIP Gloves records half-year revenue and profit increases thanks to nitrile glove demand VIP Gloves Ltd (ASX:VIP) has recorded skyrocketing revenue and profit in the half-year to December 2020, all thanks to strong demand for its nitrile gloves. Miramar Resources upgrades aircore targets at Gidji JV on fielding high-grade results of up to 2 metres at 7.7 g/t from re-split assays Miramar Resources Ltd’s (ASX:M2R) assay results from its 1-metre re-splits have returned high-grade gold of up to 2 metres at 7.7 g/t, including 1-metre at 13.58 g/t, at the newly-defined Marylebone target at its 80%-owned Gidji joint venture project north of Kalgoorlie. Infinity Lithium’s subsidiary part of Spanish battery consortium seeking €1.2 billion in coronavirus recovery funds Infinity Lithium Corp Ltd’s (ASX:INF) (FRA:3PM) wholly-owned Extremadura Mining SL is participating in the Spanish battery consortium Battchain, which is seeking €1.2 billion in coronavirus funding.