Shares in Investigator Resources soared after the mineral exploration minnow said strong silver grades at a project in SA reinforced a recent discovery.

Junior minerals explorer Pluton Resources has signed a deal to acquire the Cockatoo Island iron ore assets in Western Australia's Kimberley region.

Qantas Airways has reported improving yields - or average fares per passenger - across the airline group for July.

The Australian share market pared back earlier gains on offshore leads but still closed slightly higher, led by telecom stocks.

Telstra is almost $5 billion better off under current structural separation plan than if it chose to compete with the NBN, independent expert says.

Australian manufacturing activity contracted further in August, with the sector continuing to suffer from strong overseas competition and the high AUD.