Wall Street slips amid focus on Trump's tax bill
Wall Street's main indexes have slipped and government bond yields risen as investors closely watched a pivotal debate over US President Donald Trump's tax-cut bill that has fanned concerns about the country's growing debt.
The gate-keeping House Rules Committee scheduled an unusual 1am ET hearing that is expected to run well into daylight hours, as Republicans try to overcome internal divisions about cuts to the Medicaid health program and tax breaks in high-cost coastal states.
Non-partisan analysts say the proposed plan could add $US3 trillion to $US5 trillion ($A4.7 trillion to $A7.8 trillion) to the federal government's $US36.2 trillion in debt.
"(We're seeing) the American exceptionalism narrative unwind, so you have a natural process of something weakening after years of concentration," said David Russell, global head of market strategy at TradeStation.
"We're kind of pouring gasoline on the fire with tariffs and all of this budgetary uncertainty."
In early trading on Tuesday, the Dow Jones Industrial Average fell 352.28 points, or 0.83 per cent, to 42,324.96, the S&P 500 lost 31.84 points, or 0.54 per cent, to 5,908.62 and the Nasdaq Composite lost 97.35 points, or 0.51 per cent, to 19,045.36.
All 11 S&P sub-sectors traded lower, with information technology and consumer discretionary amongst the worst hit.
US bonds have been under pressure since the start of the week, when Moody's downgraded the country's sovereign credit rating.
On Wednesday, yields on the 30-year note were back up to 5.01 per cent and the benchmark 10-year yield climbed 5.2 basis points to 4.53 per cent.
Highly valued technology stocks weakened as rising rates tend to discount the present value of future profits.
Amazon, down 1.5 per cent, led losses among top megacap and growth stocks.
UnitedHealth Group dropped 5.1 per cent as a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands in bonuses to help reduce hospital transfers for ailing residents.
HSBC also downgraded the stock to "reduce" from "hold".
On the earnings front, retailer Target fell 6.7 per cent after slashing its annual forecast due to a pullback in discretionary spending.
Wolfspeed tumbled 66.5 per cent following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks.
US stocks closed lower on Tuesday, with the S&P 500 snapping a six-day winning streak while the Dow logged its first decline in four sessions.
Despite the losses, they have had a solid month so far.
The S&P 500 has climbed more than 17 per cent higher from its April lows, when Trump's reciprocal tariffs roiled global markets.
A pause in the tariffs, a temporary US-China trade truce and tame inflation data have pushed equities higher although the S&P 500 is still about 3.0 per cent off its record highs.
Brokerage Morgan Stanley upgraded its stance on US equities to "overweight," saying the global economy was still expanding, albeit slowly, amid policy uncertainty.
Declining issues outnumbered advancers by a 3.93-to-1 ratio on the NYSE and by a 2.98-to-1 ratio on the Nasdaq.
The S&P 500 posted two new 52-week highs and no new lows while the Nasdaq Composite recorded 16 new highs and 17 new lows.
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Winners & Losers CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.01 0% 25% 25% -9% 43% $ 10,848,675.03 NPM Newpeak Metals 0.012 -20% 20% 20% -52% 9% $ 3,864,860.77 ASO Aston Minerals Ltd 0.022 0% 22% 144% 47% 144% $ 28,491,413.92 MTC Metalstech Ltd 0.13 -7% 30% 4% -38% -7% $ 27,133,811.38 GED Golden Deeps 0.02 5% 5% -23% -51% -20% $ 3,365,388.32 G88 Golden Mile Res Ltd 0.013 -7% 30% 30% 8% 44% $ 7,619,469.97 LAT Latitude 66 Limited 0.038 -16% -28% -40% 1800% 0% $ 5,449,226.79 NMR Native Mineral Res 0.2 29% 11% 506% 413% 413% $ 172,251,208.16 AQX Alice Queen Ltd 0.004 -20% -33% -50% -33% -50% $ 4,998,560.27 SLZ Sultan Resources Ltd 0.0065 8% -19% -19% -41% 8% $ 1,388,819.46 KSN Kingston Resources 0.115 -8% 22% 29% 44% 62% $ 90,534,982.78 AMI Aurelia Metals Ltd 0.3 -3% 0% 76% 58% 76% $ 507,771,792.00 GIB Gibb River Diamonds 0.037 9% -5% 9% -18% -8% $ 7,507,830.58 KCN Kingsgate Consolid. 2.07 2% 27% 45% 14% 61% $ 528,390,968.60 TMX Terrain Minerals 0.003 0% 20% -14% -25% 0% $ 6,745,669.80 BNR Bulletin Res Ltd 0.064 -6% -9% 60% 33% 64% $ 18,497,639.35 NXM Nexus Minerals Ltd 0.07 -7% -13% 17% 40% 56% $ 44,074,451.75 SKY SKY Metals Ltd 0.049 2% 2% -4% 20% -9% $ 34,824,455.13 LM8 Lunnonmetalslimited 0.215 8% -7% -22% -17% -14% $ 46,331,916.54 CST Castile Resources 0.054 -16% -30% -29% -37% -33% $ 18,039,166.22 YRL Yandal Resources 0.11 -21% -19% -50% -15% -37% $ 34,015,848.02 FAU First Au Ltd 0.0035 17% 17% 75% 17% 75% $ 6,215,979.83 ARL Ardea Resources Ltd 0.405 -1% -2% 19% -32% 23% $ 84,165,166.00 GWR GWR Group Ltd 0.095 -3% 1% 10% -2% 19% $ 30,742,632.23 IVR Investigator Res Ltd 0.022 0% -12% -42% -64% 10% $ 34,966,350.63 GTR Gti Energy Ltd 0.004 14% 33% 0% -33% 14% $ 13,495,273.48 IPT Impact Minerals 0.005 -9% -17% -56% -73% -47% $ 21,754,314.83 BNZ Benzmining 0.47 19% 21% 45% 276% 36% $ 65,300,905.62 MOH Moho Resources 0.004 -33% 33% -20% -11% -20% $ 2,981,656.11 BCM Brazilian Critical 0.01 11% 18% 0% -44% 11% $ 10,629,585.88 PUA Peak Minerals Ltd 0.021 17% 133% 233% 553% 171% $ 56,146,425.80 MRZ Mont Royal Resources 0.041 0% 0% 3% -25% -5% $ 3,486,221.51 SMS Starmineralslimited 0.024 -4% -11% -38% -11% -33% $ 3,643,359.67 MVL Marvel Gold Limited 0.0135 -4% 4% 35% 50% 50% $ 14,036,598.93 PRX Prodigy Gold NL 0.0025 25% 25% 25% -6% 25% $ 6,350,111.10 AAU Antilles Gold Ltd 0.004 0% 14% 0% -43% 33% $ 8,505,470.73 CWX Carawine Resources 0.098 2% 4% -11% -2% -2% $ 22,668,043.10 RND Rand Mining Ltd 1.92 0% 3% 17% 30% 27% $ 106,926,806.68 CAZ Cazaly Resources 0.015 -6% 0% 0% -29% 7% $ 6,919,544.87 BMR Ballymore Resources 0.165 3% 65% 10% -8% 38% $ 27,393,240.68 DRE Dreadnought Resources Ltd 0.012 -8% -20% -20% -25% 0% $ 55,874,500.00 ZNC Zenith Minerals Ltd 0.04 -2% -17% -7% -42% 0% $ 17,112,539.72 REZ Resourc & En Grp Ltd 0.016 0% -33% -38% 33% -30% $ 12,089,504.20 LEX Lefroy Exploration 0.088 13% 11% 17% -7% 26% $ 20,122,031.18 ERM Emmerson Resources 0.135 4% -7% 129% 170% 75% $ 82,630,454.27 AM7 Arcadia Minerals 0.017 -11% 6% -26% -76% -11% $ 1,995,518.36 ADT Adriatic Metals 5.2 5% 23% 25% 24% 33% $ 1,534,751,585.25 AS1 Asara Resources Ltd 0.052 6% -4% 126% 373% 174% $ 55,058,892.40 CYL Catalyst Metals 6.45 -3% 3% 140% 456% 150% $ 1,573,517,743.75 CHN Chalice Mining Ltd 1.155 3% 2% -15% -35% 5% $ 443,490,538.32 KAL Kalgoorliegoldmining 0.042 2% -3% 68% 31% 133% $ 16,021,411.43 MLS Metals Australia 0.018 0% -14% -28% -18% -22% $ 13,116,951.43 ADN Andromeda Metals Ltd 0.011 0% -21% 38% -35% 57% $ 41,946,773.81 MEI Meteoric Resources 0.12 14% 14% 28% -35% 41% $ 257,054,906.02 SRN Surefire Rescs NL 0.002 -20% -20% -32% -76% -32% $ 4,972,890.78 WA8 Warriedarresourltd 0.105 -16% 24% 75% 100% 139% $ 100,472,610.95 HMX Hammer Metals Ltd 0.036 20% 24% 0% -8% 9% $ 29,296,037.10 WCN White Cliff Min Ltd 0.028 0% 47% 65% 56% 75% $ 60,408,039.80 AVM Advance Metals Ltd 0.041 -2% -27% 21% 64% 21% $ 10,601,393.36 ASR Asra Minerals Ltd 0.003 50% 20% -25% -57% 0% $ 5,533,072.31 ARI Arika Resources 0.038 12% 41% 15% 52% 41% $ 26,540,250.20 CTO Citigold Corp Ltd 0.004 33% 0% 0% -20% 0% $ 12,000,000.00 SMI Santana Minerals Ltd 0.55 -1% 1% 4% 51% 13% $ 390,268,084.50 M2R Miramar 0.003 0% -25% -40% -68% 0% $ 2,990,469.86 MHC Manhattan Corp Ltd 0.023 0% 28% -43% -31% 21% $ 5,167,775.76 GRL Godolphin Resources 0.009 0% 0% -31% -70% -38% $ 4,488,733.12 SVG Savannah Goldfields 0.021 -5% 0% 14% -14% 14% $ 23,973,117.82 EMC Everest Metals Corp 0.155 3% 7% 24% 29% 15% $ 34,740,344.53 GUL Gullewa Limited 0.079 13% 7% 32% 11% 41% $ 16,133,640.73 CY5 Cygnus Metals Ltd 0.086 15% -3% -34% 21% -14% $ 62,132,611.98 G50 G50Corp Ltd 0.19 90% 73% -5% 27% 23% $ 28,907,578.62 ADV Ardiden Ltd 0.155 7% 7% 19% 3% 15% $ 9,690,213.43 AAR Astral Resources NL 0.18 9% 13% 38% 100% 33% $ 248,136,575.40 VMC Venus Metals Cor Ltd 0.135 29% 29% 93% 50% 101% $ 26,477,372.21 NAE New Age Exploration 0.004 0% 0% -11% 33% 14% $ 10,637,595.64 VKA Viking Mines Ltd 0.006 -20% -14% -45% -40% -25% $ 8,063,692.49 LCL LCL Resources Ltd 0.006 -14% -14% -40% -50% -40% $ 7,168,876.24 MTH Mithril Silver Gold 0.425 16% 21% 10% 98% 6% $ 53,932,503.14 ADG Adelong Gold Limited 0.006 -25% 0% 0% 50% 33% $ 9,782,403.39 RMX Red Mount Min Ltd 0.008 0% 0% -20% -47% -11% $ 3,719,662.37 PRS Prospech Limited 0.025 4% -11% -14% -36% -14% $ 8,220,647.18 TTM Titan Minerals 0.4 5% 0% -19% 29% 5% $ 99,068,168.28 AKA Aureka Limited 0.12 -11% -17% 14% -99% -11% $ 11,780,013.04 AAM Aumegametals 0.036 -3% -5% 0% -51% -14% $ 22,352,182.55 KZR Kalamazoo Resources 0.085 0% 1% 2% -15% 15% $ 18,867,842.46 BCN Beacon Minerals 0.0285 6% 6% 30% 2% 30% $ 118,339,072.38 MAU Magnetic Resources 1.75 6% 17% 50% 59% 58% $ 448,131,605.93 BC8 Black Cat Syndicate 0.815 -5% -19% 15% 123% 44% $ 562,353,170.01 EM2 Eagle Mountain 0.005 0% 0% -63% -91% -44% $ 6,242,705.09 EMR Emerald Res NL 4.75 3% 18% 31% 26% 46% $ 3,017,545,948.62 BYH Bryah Resources Ltd 0.005 25% 25% 25% -38% 67% $ 3,479,814.09 HCH Hot Chili Ltd 0.55 4% 20% -28% -48% -21% $ 83,377,881.95 WAF West African Res Ltd 2.83 8% 19% 87% 92% 97% $ 3,054,905,733.32 MEU Marmota Limited 0.042 -2% 8% 11% -5% 8% $ 53,023,760.55 NVA Nova Minerals Ltd 0.335 0% 0% 37% 43% -9% $ 100,129,199.27 SVL Silver Mines Limited 0.099 0% -1% -6% -49% 27% $ 177,977,539.20 PGD Peregrine Gold 0.12 -11% -25% -20% -57% -14% $ 11,030,206.33 ICL Iceni Gold 0.075 25% 10% 47% 6% 6% $ 19,459,785.18 FG1 Flynngold 0.031 24% 55% 7% 11% 24% $ 11,348,177.63 WWI West Wits Mining Ltd 0.026 -13% 37% 73% 86% 86% $ 70,964,816.93 RML Resolution Minerals 0.017 31% 113% 6% 6% 42% $ 7,361,015.97 AAJ Aruma Resources Ltd 0.01 0% 11% -33% -47% -17% $ 2,636,940.78 HWK Hawk Resources. 0.017 -15% -11% -43% -52% -23% $ 4,605,800.63 GMN Gold Mountain Ltd 0.002 0% 33% 0% -50% -33% $ 8,429,638.87 MEG Megado Minerals Ltd 0.014 8% 75% -7% 34% -18% $ 5,875,565.67 HMG Hamelingoldlimited 0.086 23% -2% 23% -4% 34% $ 14,371,875.00 BM8 Battery Age Minerals 0.048 -9% -11% -52% -68% -54% $ 5,728,915.68 TBR Tribune Res Ltd 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SFM Santa Fe Minerals 0.037 0% 0% 28% -12% 19% $ 2,694,295.19 PNR Pantoro Gold Limited 3.4 -1% 20% 100% 122% 122% $ 1,334,063,288.70 CMM Capricorn Metals 9.76 5% 5% 50% 104% 55% $ 4,047,742,332.69 VRL Verity Resources 0.029 12% 81% 49% -57% 49% $ 7,742,283.14 HAW Hawthorn Resources 0.053 6% 20% 10% -22% 29% $ 17,755,827.49 BGD Bartongoldholdings 0.735 9% 52% 177% 126% 200% $ 158,720,390.83 SVY Stavely Minerals Ltd 0.013 18% 0% -35% -74% -24% $ 6,528,505.12 AGC AGC Ltd 0.16 0% 14% -18% -59% 3% $ 41,055,555.52 RGL Riversgold 0.005 25% 11% 67% -29% 25% $ 6,734,850.37 TSO Tesoro Gold Ltd 0.025 -7% -17% 4% -36% 25% $ 46,602,420.96 GUE Global Uranium 0.068 10% 10% 19% -31% 13% $ 29,267,467.13 CPM Coopermetalslimited 0.038 0% -5% -17% -65% -17% $ 2,977,514.70 MM8 Medallion Metals. 0.27 0% 13% 203% 440% 125% $ 132,247,879.40 FFM Firefly Metals Ltd 1.09 9% 34% 0% 38% 18% $ 614,656,448.53 CBY Canterbury Resources 0.026 18% 30% 18% -54% 18% $ 5,393,463.30 SLA Solara Minerals 0.12 4% -8% -47% -52% 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$ 2,006,178,447.02 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,535,000.00 LCY Legacy Iron Ore 0.009 0% 13% -18% -38% -10% $ 87,858,383.26 PDI Predictive Disc Ltd 0.385 -8% 4% 57% 103% 67% $ 995,765,940.68 MAT Matsa Resources 0.068 3% 5% 66% 134% 94% $ 49,845,343.61 ZAG Zuleika Gold Ltd 0.012 9% 0% -25% -43% -8% $ 8,902,559.12 GML Gateway Mining 0.032 0% 7% 23% 60% 52% $ 12,673,429.15 SBM St Barbara Limited 0.33 5% 22% -3% 40% 47% $ 346,510,829.12 SBR Sabre Resources 0.008 0% 0% -33% -56% -20% $ 3,155,695.46 STK Strickland Metals 0.145 21% 56% 81% 38% 71% $ 316,730,371.58 CEL Challenger Gold Ltd 0.096 20% 19% 113% 39% 104% $ 153,836,336.20 GG8 Gorilla Gold Mines 0.5 -2% 10% 108% 1085% 92% $ 310,451,393.84 NST Northern Star 20.98 4% 6% 20% 46% 36% $ 29,042,393,017.67 OZM Ozaurum Resources 0.079 -6% -20% 139% 41% 163% $ 18,778,153.59 TG1 Techgen Metals Ltd 0.024 -4% 9% -23% -44% -31% $ 4,283,974.17 XAM Xanadu Mines Ltd 0.08 0% 33% 60% 21% 63% $ 181,005,683.93 AQI Alicanto Min Ltd 0.026 -4% -13% -28% 42% -30% $ 22,899,860.35 KTA Krakatoa Resources 0.01 0% 0% -9% -38% 5% $ 6,201,340.25 ARN Aldoro Resources 0.32 7% -38% 264% 316% -16% $ 56,058,088.28 WGX Westgold Resources. 3.04 7% 1% 7% 33% 7% $ 2,810,466,876.20 MBK Metal Bank Ltd 0.013 18% 8% -24% -40% -13% $ 6,466,966.97 A8G Australasian Metals 0.067 -8% -4% -13% -29% -15% $ 3,878,611.58 TAR Taruga Minerals 0.009 13% -10% -10% 0% -10% $ 6,423,786.52 DTR Dateline Resources 0.097 94% 978% 3133% 708% 2671% $ 262,956,020.95 GOR Gold Road Res Ltd 3.4 1% 11% 82% 105% 66% $ 3,617,708,869.80 S2R S2 Resources 0.09 0% -14% 29% -25% 34% $ 43,927,225.32 NES Nelson Resources. 0.0025 -17% 0% 25% -17% -17% $ 5,429,819.15 TLM Talisman Mining 0.145 0% 0% -31% -59% -29% $ 27,306,450.61 BEZ Besragoldinc 0.032 -14% -30% -50% -71% -64% $ 15,373,091.19 PRU Perseus Mining Ltd 3.89 4% 17% 47% 63% 51% $ 5,215,884,623.86 SPQ Superior Resources 0.004 0% -20% -50% -60% -33% $ 9,483,930.90 PUR Pursuit Minerals 0.041 3% -5% -59% -84% -57% $ 4,488,028.34 RMS Ramelius Resources 2.88 2% 13% 37% 51% 39% $ 3,279,812,674.64 PKO Peako Limited 0.003 20% 0% 0% -3% 0% $ 4,463,225.88 ICG Inca Minerals Ltd 0.005 11% 0% -17% -29% 0% $ 7,881,950.31 A1G African Gold Ltd. 0.165 38% 22% 200% 511% 200% $ 79,203,271.29 NMG New Murchison Gold 0.017 13% -6% 70% 278% 89% $ 157,613,601.71 GNM Great Northern 0.017 -15% 21% 21% 42% 21% $ 2,628,694.31 KRM Kingsrose Mining Ltd 0.03 -3% -9% -19% -36% -14% $ 23,359,322.09 BTR Brightstar Resources 0.59 -8% 19% -6% 57% 18% $ 271,732,046.40 RRL Regis Resources 5.06 1% 13% 98% 164% 98% $ 3,732,060,005.96 M24 Mamba Exploration 0.014 0% 8% 27% -30% 17% $ 4,132,318.54 TRM Truscott Mining Corp 0.065 0% 8% -13% 4% -17% $ 12,444,156.40 TNC True North Copper 0.325 2% 48% -89% -95% -89% $ 39,010,094.96 MOM Moab Minerals Ltd 0.001 0% -33% -67% -80% -50% $ 1,733,666.03 KNB Koonenberrygold 0.071 3% 6% 344% 255% 492% $ 69,679,088.57 AWJ Auric Mining 0.2 5% -22% -38% 14% -41% $ 36,266,314.89 ENR Encounter Resources 0.25 6% 32% -32% -32% -23% $ 117,216,194.97 SNG Siren Gold 0.058 21% 4% -3% -28% -11% $ 10,729,559.84 STN Saturn Metals 0.32 10% 0% 42% 36% 56% $ 142,494,668.82 USL Unico Silver Limited 0.245 4% 2% 20% 44% 26% $ 98,537,344.88 PNM Pacific Nickel Mines 0.024 0% 0% 0% -29% 0% $ 10,103,834.52 AYM Australia United Min 0.003 0% 50% 50% 50% -25% $ 5,527,732.46 HAV Havilah Resources 0.175 6% 0% -13% -22% -22% $ 62,762,414.76 SPR Spartan Resources 2.27 4% 13% 59% 191% 61% $ 2,819,444,282.60 PNT Panthermetalsltd 0.013 0% -24% -24% -60% 18% $ 3,610,854.58 MEK Meeka Metals Limited 0.145 0% -6% 91% 282% 88% $ 339,586,447.95 GMD Genesis Minerals 4.72 8% 20% 87% 147% 91% $ 5,106,279,708.00 PGO Pacgold 0.065 -14% -4% -23% -54% -13% $ 9,333,258.00 FEG Far East Gold 0.15 0% -3% -9% 15% -17% $ 56,889,255.22 MI6 Minerals260Limited 0.15 -6% 20% 11% -9% 15% $ 289,426,666.62 IGO IGO Limited 3.88 -6% 2% -20% -47% -19% $ 3,104,798,033.30 GAL Galileo Mining Ltd 0.105 -13% -5% -19% -57% -16% $ 21,738,741.97 RXL Rox Resources 0.3 0% -19% 94% 82% 50% $ 216,088,580.88 PTN Patronus Resources 0.057 -2% -10% -8% -7% 16% $ 94,969,072.63 CLZ Classic Min Ltd 0.001 0% 0% 0% -80% 0% $ 1,544,025.56 TGM Theta Gold Mines Ltd 0.12 -8% -11% -31% -20% -33% $ 101,134,291.99 FAL Falconmetalsltd 0.12 -8% 4% -14% -43% 4% $ 24,780,000.00 SPD Southernpalladium 0.415 32% 84% -41% -22% -31% $ 35,470,500.00 ORN Orion Minerals Ltd 0.012 0% 0% -20% -35% -20% $ 82,205,373.82 TMB Tambourahmetals 0.021 -13% -22% -19% -71% 0% $ 2,469,390.97 TMS Tennant Minerals Ltd 0.006 -14% -25% -45% -71% -33% $ 5,735,342.49 AZY Antipa Minerals Ltd 0.635 -2% 23% 176% 323% 144% $ 351,204,445.12 PXX Polarx Limited 0.008 14% 14% 0% -43% 23% $ 21,379,508.80 TRE Toubani Res Ltd 0.285 -10% 8% 58% 84% 68% $ 72,045,386.84 AUN Aurumin 0.082 22% 37% 44% 105% 24% $ 36,080,990.51 GPR Geopacific Resources 0.018 -10% -22% -19% -19% -10% $ 57,284,375.87 FXG Felix Gold Limited 0.14 4% -15% 106% 133% 67% $ 59,587,430.42 ILT Iltani Resources Lim 0.22 -2% -19% 47% -28% 7% $ 9,982,720.35 BRX Belararoxlimited 0.094 -22% 13% -49% -57% -46% $ 14,988,983.15 TM1 Terra Metals Limited 0.039 39% 34% 26% -13% 39% $ 14,944,862.23 TOR Torque Met 0.135 17% 41% 170% -33% 155% $ 35,056,310.38 ARD Argent Minerals 0.021 0% -9% 11% -5% 24% $ 30,358,450.08 LM1 Leeuwin Metals Ltd 0.135 -4% -27% 85% 85% -4% $ 13,608,861.84 SX2 Southgold Consol 6.47 11% 16% 0% 0% 0% $ 889,710,601.70 UVA Uvrelimited 0.092 -8% -2% -5% -26% 3% $ 5,538,400.09 Focus Minerals (ASX:FML) Shandong Gold's Focus finally returned to investors' good books, charging higher after nabbing $250 million in cash from Raleigh Finlayson's Genesis Minerals (ASX:GMD) for its ~4Moz Laverton gold project. It comes over a decade since the project was shuttered during a gold price crunch. Now, with bullion at record highs, the assets have proven an attractive target for Genesis as it looks for additional feed it can send to the Laverton plant acquired from Dacian Gold across 2023 and 2024. That opens the potential to mine its Tower Hill project near the Gwalia mine and send the ore to an expanded Leonora mill, a more logical haulage solution. Focus meanwhile will be zeroing in on the ramp up of its Coolgardie gold operations and shift from a hefty net debt position to net cash. Dateline Resources (ASX:DTR) Dateline is up a quite ludicrous 870% to a market cap of $286m over the past month, much of that growth since a shoutout from Donald Trump on his Truth Social platform got investors excited. DTR owns the 1.1Moz Colosseum gold project, where Trump also highlighted the company's rare earths potential, sitting as it does just a few klicks from the Mountain Pass mine. One of the key triggers for DTR this week was an updated scoping study based around a gold price estimate lifted from US$2200/oz in a study compiled in October last year to US$2900/oz. With annual gold production unchanged at 71,000ozpa, that would lift net revenue before tax by 208%from US$398m to US$827m and ups the project's IRR from 31% to 61%. Before tax discounted cashflow would rise 234% to US$550m. G50 Corp (ASX:G50) G50 has surged higher over the past week with little market news to pinpoint for the gains. The company owns the Golconda project in Arizona, the site of the state's largest zinc-lead mine over 100 years ago. It's found a high-grade gallium halo at that flagship asset, which has brought the project into focus since China initiated export controls on the critical mineral back in 2023 and led to discussions over the strategic nature of the asset with the US Government. Renegade Exploration (ASX:RNX) in a nil-consideration deal. G50 MD Mark Wallace is a non-exec director of RNX.
