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Wall Street rallied on Wednesday, buoyed by tech optimism and resilience in the face of fresh tariff developments from President Donald Trump. The S&P 500 rose 0.61% to 6,263.26, the Nasdaq hit a new record high of 20,611.34 with a 0.94% gain, and the Dow climbed 217 points, or 0.49%. Nvidia briefly topped a US$4 trillion valuation during the session—becoming the first company to do so—before closing just shy at US$3.97 trillion. Broader enthusiasm for AI lifted other major tech stocks, including Meta, Microsoft, and Alphabet. Markets also appeared unbothered by Trump’s latest tariff moves, which include 20%–40% import duties for over 20 countries and a steep 50% copper tariff. While some pharmaceutical tariffs are delayed, analysts interpret the overall tone as leaving space for negotiation, supporting equity confidence.
Bitcoin also soared to a record high, reaching US$112,052 in late trading before easing to US$110,947—up 1.9% on the day. Looking ahead, Australian shares are expected to open higher, with SPI futures pointing to a 45-point gain. Commodity markets were mixed: copper dropped 2.4% to US$5.55/lb, gold rose 0.4% to US$3,313.66/oz, and Brent crude edged lower to US$70.12. The Australian dollar strengthened slightly to US65.35 cents.
Southern Palladium’s Optimised PFS
Southern Palladium (ASX:SPD) has released an Optimised Prefeasibility Study (OPFS) for its 70%-owned Bengwenyama platinum group metals (PGM) project in South Africa. The revised plan adopts a staged development strategy, reducing peak funding needs by 38% to US$279m and improving financial viability. The project now targets an initial 100ktpa production rate, expanding to 200ktpa after four years. The OPFS reports a project-level post-tax NPV of US$857m and an IRR of 26.4%, with cash costs in the lowest quartile globally. The company highlights strong platinum market fundamentals and a structural supply deficit. Stage 1 is expected to be cash generative, with further upside from potential use of third-party processing infrastructure. A Definitive Feasibility Study is underway, pending a near-term mining right.
White Cliff’s Nunavut Drill Program and Strategic Tailwinds
White Cliff Minerals (ASX:WCN) has commenced diamond drilling at its 100%-owned Rae Copper Project in Nunavut, Canada, targeting the Hulk sedimentary basin. The drill program builds on successful reverse circulation (RC) pre-collars and focuses on three holes testing structural targets along the Herb Dixon Fault. Concurrently, RC drilling at the high-grade Danvers prospect will resume, where past results included intercepts up to 175m at 2.5% Cu. A drone-based magnetotelluric survey is underway to assist broader targeting. Backed by a recent A$14.4m raise, the campaign aligns with Canada’s national push to support critical minerals, positioning White Cliff to benefit from infrastructure investment and strategic demand.
Tivan’s Discovery of Copper Mineralisation in Timor-Leste
Tivan Limited (ASX:TVN) has confirmed outcropping copper mineralisation at two sites—Mota Sohi and Mota Klere—within its Turiscai Project in Timor-Leste. This follows the first week of fieldwork, part of a systematic exploration campaign across a 344 km² licence area. Minerals observed include bornite, chalcopyrite, azurite, and malachite, although the company cautions that visual estimates do not substitute for assays. First lab results are expected between September and December 2025, pending government export approvals. The project’s geological setting is said to be analogous to several world-class copper-gold deposits. Tivan is expanding its local capabilities ahead of a planned preliminary drilling campaign in Q2 2026.

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