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http://www.proactiveinvestors.com.au/companies/news/24806/lynas-leads-the-way-for-resource-stocks-on-the-asx-with-bhp-billiton-and-rio-tinto-also-up-24806.html

Lynas leads the way for resource stocks on the ASX with BHP Billiton and Rio Tinto also up
Thursday, February 02, 2012 by Christine Feary

enewed strength in overseas markets coupled with suggestions that resource stocks could be undervalued has pushed companies in the top 20 resource stocks by market capitalisation higher in today’s trade.

The Australian market was lifted on the back of positive leads from Europe and the United States today and carried that through, with the All Ordinaries index closing 0.9% higher.

Lynas Corporation (ASX: LYC) was given an extra boost by news that a temporary operating licence for its Advanced Materials Plant in Malaysia has been given approval.

The company took out the top position today, closing up 19.48% at $1.595.

Sporting a similarly impressive result, Bandanna Energy (ASX: BND) shares rose 15.27% to $0.755.

Maverick Drilling (ASX: MAD) was next in line, closing the day up 7.84% at $0.55, followed by Atlas Iron (ASX: AGO), up 4.61% at $3.18 and Medusa Mining (ASX: MML), 3.39% higher at $5.80.

Mining giant Rio Tinto (ASX: RIO) managed a 3.11% increase to $77.96, while BHP Billiton (ASX: BHP) closed up 1.98% at $37.64.

PanAust (ASX: PNA) pulled of a gain of 2.57% to $3.59, Santos (ASX: STO) increased 2.55% to 13.66%, Alumina (ASX: AWC) rose 2.39% to $1.285 and OZ Minerals (ASX: OZL) gained 1.48% to $10.

In gold news, Iluka Resources (ASX: ILU) gained 1.36% to $17.83, Newcrest Mining (ASX: NCM) rose 1.31% to $33.94 and Alacer Gold Corporation (ASX: AQG) closed up 1.26% at $8.87.

Below the 1% mark, Woodside Petroleum (ASX: WPL) rose 0.47% to $34.16, Fortescue Metals Group (ASX: FMG) rose 0.4% to $5, Paladin Energy (ASX: PDN) rose 0.28% to $1.825 and Extract Resources (ASX: EXT) rose 0.23% to $8.57.

The only two companies to fall below the line in today’s trade were Whitehaven Coal (ASX: WHC), down 0.35% to $5.63, and Oil Search Holdings (ASX: OSH), down 0.61% to $6.52.