S&P/ASX 200 extends gain for a second day as miners and energy stocks rise

S&P/ASX 200 (INDEXASX:XJO) is adding to Wednesday’s gains with the index lifting 0.92% to 7,376 by about 1.05 pm following strong advances overnight on US markets. Improvements have been broad based with the materials (+2.25%) and energy (+2.58%) sectors leading the charge. The major miners are contributing most to market gains with BHP Group (ASX:BHP) surging 2.9% after announcing the signing of a nickel supply agreement with Tesla (NASDAQ:TSLA). Lithium miners surge Lithium miner Orocobre (ASX:ORE) shares jumped 11.5% after its quarterly report showed an uplift in lithium ore prices and improved production numbers at its Olaroz facility in Argentina. Galaxy Resources (ASX:GXY) surged 10.5% following a strong update with record production of lithium concentrate at its Australian operations. Orocobre and Galaxy are looking to complete a merger by end of August. Delta strain plays havoc New South Wales reported 124 new locally acquired cases of COVID-19 in the 24 hours to 8pm on Wednesday – the worst day in the entire pandemic. NSW Premier Gladys Berejiklian said the Delta strain was like “nothing we’ve seen before” and warned people should assume everyone they come across could be infected. Greater Sydney is due to end its lockdown on July 31 but that looks unlikely considering the continuing surge in infections. Top gainers Today’s top gainers on the ASX include Australian Vanadium Ltd (ASX:AVL) (+11.11%), Fe Limited (ASX:FEL) (+11.90%), Nova Minerals Ltd (ASX:NVA) (+13.64%), Piedmont Lithium Inc (ASX:PLL) (+11.68%), Poseidon Nickel Ltd (ASX:POS) (+13.13%), Predictive Discovery Ltd (ASX:PDI) (+11.11%) and Valor Resources Ltd (ASX:VAL) (+11.11%). Proactive news headlines: Caspin Resources completes first tranche of $9.75 million capital raising Caspin Resources Ltd (ASX:CPN) has completed the first tranche of its $9.75 million capital raising initiative that has been strongly supported, including by major and long-term shareholders. Australian Vanadium secures $3.69 million in Federal funding to help design, build and operate vanadium battery electrolyte plant Australian Vanadium Ltd (ASX:AVL) is trading higher after securing a $3.69 million matched funding Federal Government grant to help design, build and operate an Australian vanadium battery electrolyte plant. Maximus Resources intersects nickel-copper sulphides at Hilditch West with scandium to boot Maximus Resources Ltd (ASX:MXR) has intersected encouraging nickel sulphide assay results from its maiden reverse circulation (RC) drill program at the Hilditch West target in Western Australia. Alkane Resources share price gains 62% in June quarter amid increasing gold production Alkane Resources Ltd (ASX:ALK) (OTCMKTS:ALKEF) (FRA:AK7) shares gained nearly 62% in the June quarter, as the company beat its own gold production forecasts. King River Resources achieves key step in specialty metals focus with high purity titanium dioxide produced King River Resources Ltd (ASX:KRR) has achieved a key milestone in its specialty metals strategy by producing a high purity titanium dioxide product assaying 99.73% during ongoing testing. Fenix Resources locks in pricing for 45% of planned iron ore production in swap arrangements Fenix Resources Ltd (ASX:FEX) has hedged around 45% of its planned iron ore production at $230.30 per dry metric tonne over a 12-month period. Galileo Mining preparing for new drill programs at Fraser Range and Norseman projects Galileo Mining Ltd (ASX:GAL) is all but set to kick off new rounds of drilling at its flagship Fraser Range nickel-copper-cobalt and Norseman nickel-cobalt-palladium projects in Western Australia. Tyranna Resources surveys at Weebo form gold exploration path with key targets areas identified Tyranna Resources Ltd (ASX:TYX) (FRA:IRN) is on track for its next phase of exploration at the Weebo Gold Project north of Leonora in Western Australia.after identifying targets during field and desktop work. Brookside Energy adds to 'core of the core' Anadarko Basin holding with acreage acquisition Brookside Energy Ltd (ASX:BRK) has increased its holding within the world-class Anadarko oil & gas basin in Oklahoma,USA, with an acreage acquisition.