Day: January 31, 2021

Why the Advance NanoTek (ASX:ANO) share price is sinking lower again

Red and white arrows showing share price drop

The Advance NanoTek Ltd (ASX: ANO) share price has started the week with a day in the red.

In morning trade, the advanced materials company’s shares were down as much 9% to $3.61.

The Advance NanoTek share price has since rebounded but is still down 2% to $3.90 in late afternoon trade.

Why is the Advance NanoTek share price sinking lower?

Investors have been selling Advance NanoTek shares on Monday following the release of an update on its first half performance.

According to the release, as the company had previously warned, it is expecting to post the smallest of profits for the six months ended 31 December.

Subject to its audit, Advance NanoTek recorded a half year result profit before tax of $90,000. This compares to a net profit before tax of $4.81 million in the prior corresponding period.

Management advised that this weak result has been driven by travel restrictions and lockdowns caused by COVID-19. This has led to a reduction in sunscreen sales globally and therefore lower demand for the company’s zinc oxide which goes inside these products.

What about current trading?

Within the release, the company listed a number of “good news” items. One of those is that it has witnessed an improvement in its performance during January.

It advised that it has experienced a significant increase in sales orders, leading to the company recording an unaudited profit before tax of $540,000 for the month.

In addition to this, the company revealed that it has been working on a number of new products which it hopes to release in the near future. It expects these to have a positive impact on its FY 2022 results.

It explained: “ANO has successfully developed 15 new bulk intermediate products, vegan and/or organic based, including an all natural insect repellent. Once our TGA licence is obtained, ANO will begin full scale production of the products.”

“Samples are being prepared for our distributors and ANO anticipates sales of these products to impact our results in FY22. In addition, we are working on a premium range of dispersions based on our current dispersions and we expect these to be available to distributors and customers in FY22,” it added.

Looking ahead, management appears to believe the future will be bright once the pandemic passes.

It concluded: “The Board would like to point out that most of the achievements listed under the Good News heading are likely to produce positive results for many years to come, on the other hand, the Bad News, COVID-19 issues are likely to be resolved over the next two years.”

This Tiny ASX Stock Could Be the Next Afterpay

One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…

Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.

Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

Returns as of 6th October 2020

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Advance NanoTek Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Advance NanoTek (ASX:ANO) share price is sinking lower again appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3j5e2hW

Forget growth or value: Here’s a neutral way to pick shares

Redpoint chief executive Max Cappetta

Ask A Fund Manager

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In this edition, Redpoint chief executive Max Cappetta tells how quantitative investing saves choosing between growth or value.

 

Investment style

The Motley Fool: What’s your fund’s philosophy?

Max Cappetta: The name of the fund is the Generation Life Tax Aware Australian Share Fund. Redpoint, we are the underlying manager to that strategy. 

It is a strategy run specifically and exclusively for Generation Life as part of their investment bond offering. It’s a 30% tax-paid investment structure that if investors hold for up to 10 years, then the proceeds of that investment are tax-free in their hands and there’s no annual distributions. So there’s no taxable income events throughout the period that you’re invested in the bond.

Investment bonds have been around for decades. But I think they’re really finding a Renaissance at the moment with limits to superannuation and for people just looking for more tax effective ways to save for major expenditures throughout their life.

MF: What’s the investment strategy?

MC: A couple of key things. Number one, we’re quantitative investors – that means that we actually generally don’t meet with company management, and we actually model the financial statements and a range of other metrics. 

The reason we do that is because we realised that no one investment style or discipline is consistently rewarded. Styles come in and out of favour. For example, if you’d been a value-focused manager over the last few years, it’s been a very tough environment. If you’ve been more of a growth manager, you’ve had a much better time. 

We want to build a portfolio using insights from each company’s financial statements in terms of its quality metrics, growth prospects, and valuation. And then we overlay a range of shorter horizon sentiment and momentum indicators, which give us a sort of certainty-uncertainty conviction type element to our overall stock selection. 

You’ll probably find that most people understand this concept and what they do is they invest in a range of different investment managers that have different styles. The fact that we quantitatively can put all of this together in one portfolio means then we have risk control across the entire portfolio. 

Buying and selling 

MF: What do you look at closely when considering buying a stock?

MC: We’ll actually model the company’s financial statements, looking at quality metrics – in particular their cash flow. We’ll look at growth. 

When we look at growth, we take a slightly different approach. Yes, we are interested in the company’s top line growth metrics, but we’re also interested in the degree to which sales are growing faster than costs. So we’re looking for that incremental uplift, which for us gives us a better indication that there’s a positive surprise coming for a particular company. 

When it comes to valuation, we take a range of different approaches whereby we try to model the company’s earnings from different starting points within their financial statements. We’re looking at the trend and consistency of their earnings, of their taxable income, of their free cash flow, their operating profit, their return on equity, for example. What that gives us is quite a robust metric that we can use to compare the valuation of different companies across different sectors in the marketplace. 

Then, as I said, there’s a range of other sentiment, momentum, news-based metrics, which help us to have either higher certainty about those metrics. So for example, if we really do like a company, be it on quality growth or valuation, but we’re seeing that some of the shorter term metrics are quite negative or poor, then we’ll sort of ratchet back our expectations. Whereas if everything’s pointing in the same direction, then that’ll give us more confidence to actually increase our position.

MF: What triggers you to sell a share?

MC: Obviously if a company’s own metrics start to deteriorate. For example, if a company performs very well, it’s no longer attractive on valuation. And maybe we’re seeing that the kind of growth that the company is undertaking is poor quality and not leading to our expectation of increasing profitability. 

But at the same time we’re looking also to see, even if a company stays still, if there’s another stock similar to it, similar industry. Because we try to keep a quite diversified portfolio that now starts to become more attractive. 

Overlaid on top of all of that, we look at the individual tax parcel positions that we have in the portfolio. So that as we’re rebalancing we want to make sure that we’re not just unnecessarily churning and causing tax liabilities. Because we know that risk and return forecasts are uncertain, but when you actually realise a gain, the tax implications are certain. 

So we try to do that quite complex trade-off in a very automated, very disciplined way.

MF: Not many fund managers talk about capital gains tax implications, but it’s an important factor, isn’t it?

MC: Absolutely. One of the key things, particularly for superannuation funds, you know that a capital gain is discounted if it’s held for more than 12 months. It’d be quite silly to actually sell a stock in a gain position, if you’ve been holding it for 11.5 months. There has to be something quite drastic to change in terms of your return expectations, to override having to pay 15% tax versus holding for two weeks and then getting a 33% reduction on that tax payment.

What’s coming up?

MF: Where do you think the world is heading at the moment?

MC: I must admit, we were, and certainly I was, quite surprised at the degree to which the markets bounced back in March of 2020. 

Of course they were supported by massive fiscal and monetary stimulus, which was coordinated across the entire world, and that is continuing today. So really what we’ve seen is the markets look through the earnings drop and out into 2022, 2023. 

We see that there’s a lot of positive expectation already built into share prices. There are still corners of the marketplace where there are maybe more valuation type opportunities. 

But in general the market is back – and from our perspective more fully priced. So that is the challenge – I think what could derail things is maybe a slower than expected rollout of vaccines or something associated with the fact that we can’t return back to pre-COVID type activity levels as soon as we’d expected.

MF: Like if the vaccines were proven to be ineffective or not last very long?

MC: That’s right. Or for that matter, if there’s simply a delay in being able to get that through populations, which means that countries remain locked down. While there may be domestic travel, then there’s probably no international travel associated with that. So that really is the risk. 

What we’ve seen in the pricing of equity markets to date has been this extrapolation of very low rates almost forever. And we did see that at the end of 2018, when the US Fed did start [talking] about tapering their support, that equity markets did fall. 

I think there’s a lot of what we might call long-duration type stocks. Stocks where profitability is expected to come, but probably in about 3 to 5 years’ time. That if there are expectations of increased interest rates, even in the next 2 or 3 years, then maybe their future profitability out to 2030 will start to be discounted to quite a high degree. 

So some of the high-flying stocks that really now need about a decade of plain sailing to get their financial statements to be in line with their current price. There’s going to be a few risks to some of those stocks, maybe not delivering the returns that they have over the last 12 months.

Overrated and underrated shares

MF: What’s your most underrated stock at the moment?

MC: One of the stocks we’ve had an eye on and we have a position in at the moment is Reliance Worldwide Corporation Ltd (ASX: RWC). They’re a plumbing business essentially – rather quite boring. They’re sort of behind the walls. You don’t really see their product. It just sort of happens in the background.

If you look at the history of Reliance, while they’ve been around really for many decades, over the last 5, 10 years the company has been quite acquisitive, both in Australia and internationally. What we saw in their financial statements from last year is really a strong positioning in terms of all of those transactions that they’ve put together into the business – now actually starting to build momentum and causing incremental profit growth the way that we actually like to see it.

We see that it’s a stock that currently is on track to probably double their earnings from 2018. And yet is still trading at 30% below the price that it traded at its highs in 2018. 

We think it’s also going to be supported by fiscal spending and investment into construction over the next few years. And obviously their plumbing products will be in great demand. [That] really supports their growth here in Australia, in the United States and also a growing business through Europe. 

So it’s one of the stocks that we think at the moment is underappreciated. They did have a very good half-year update the other day, which the market responded to quite positively. And we expect for that positive sentiment to continue in the near term.

MF: When did you start buying into Reliance?

MC: We started building up our position from October last year. We saw the outcome in the 30 June result, which was released in August, that already started to give us a positive signal. They then provided an update in October and that actually caused analysts in the marketplace to start revising up their earnings forecasts for ’21 and ’22… And that was when the stars aligned for our metrics to build up a position in the stock.

MF: Plumbing never goes out of fashion, does it?

MC: There’s a lot of truth in what you’re saying there. It does remind me a little bit of the 1999-2000 period, both here in Australia and offshore, where everybody was about clicks and order as opposed to bricks and mortar. 

I think the one difference today is that maybe a lot of the old school businesses, certainly their growth profile is maybe not as strong as some of these IT and tech stocks. But if they are trading at an attractive valuation and can grow earnings meaningfully over the next 2 or 3 years, then I think they do have a part to play in people’s portfolios and can deliver the good returns.

MF: What do you think is the most overrated stock at the moment?

MC: There’s a stock called Afterpay Ltd (ASX: APT) in the buy now, pay later space. It’s had a very strong run and I think it is one of those stocks that from a valuation perspective, we think it now really needs that decade of runway to be able to get its fundamentals and financials to be in line with its price expectations. 

That’s not to say that it can’t do that, and it can remain and become a market leader. I think just the incremental return that’s available to investors as the company goes down that path is probably not as strong as what we can see in other places. 

I’m not necessarily talking about IT [as overrated], because there are stocks in there that we do like. 

But even a company like Nextdc Ltd (ASX: NXT) that is running data centres, again, we see that it has probably had a re-rating because of its participation in that tech sector. We do have concerns that maybe its growth profile is not as strong. 

Also, one of the things that we find very important and we look at is the metrics of stocks in terms of its environmental, social, and governance (ESG) practices and risks. One of the risks we do see for NextDC is its energy utilisation. Data centres need power, they need air conditioning – you can have solar panels on the roof, but unfortunately they don’t work at night time. 

So there is a bit of transition work to be done by some of those data centre companies to be more carbon efficient. 

MF: For non-software tech businesses like that, it’s capital-intensive to run, isn’t it?

MC: Exactly right. So you do need that physical location and obviously that carries its own costs both in setup and then maintenance going forward.

Looking back

MF: Which stock are you most proud of from a past purchase?

MC: I’ve got a couple… The first one is actually Fortescue Metals Group Limited (ASX: FMG). Iron ore stock, yes, it is the market darling. It’s up over 100% last year, from $10.88 through to $24 plus more than $2 if you include the tax credits on the dividend.

What we saw within our metrics, and I think the timing of it was quite important, and that is that we’d seen the cash flow generation steadily increasing. What our modeling was telling us is that the cap-ex that had been put into the business was obviously good quality capital expenditure. 

Now the company was in a very strong position to be able to leverage increased prices in iron ore into direct profitability. Sometimes companies need that price increase to justify their existence, but Fortescue put themselves in a position where price rises were just going to essentially throw off a great deal of cash, which has certainly transpired.

We did have a little bit of uncertainty with valuation going into March, but then what happened was in March there was guidance provided by the company that their activities through the COVID period they felt were going to be unchanged. And that then sparked off a range of upgrades through April and May, which then saw the price take off thereafter. 

We’d already had a position. We saw that the company had very strong growth potential… Then when things got quite uncertain there in March, we essentially were increasing our position because we felt that if things remained unchanged for them, then the stock was going to deliver quite great returns. 

The stock was still at $13.75 at 30 June. So it really doubled in price over the period of 6 months.

It was a great example of looking through the noise of the marketplace at the time, and looking through to the fundamentals. Looking through to the positive sentiment and expectations going forward. And it ended up being the best individual performer in the portfolio for the year.

MF: You’re still holding?

MC: Yeah, we are still holding. One of the interesting things about the way we run the Tax Effective Portfolio is that when we get new cash flow from new investors into the portfolio, we actually re-optimise to determine a specific trade list for each cash flow. 

And so what it’s actually doing is actually reducing the active position in Fortescue in a very tax-effective way. We never have to sell a share of the stock, but new investor capital helps to downlight that active position because we don’t just buy naively across the entire portfolio. We actually look at each cash flow on its merits and what we find attractive at any given point in time. We’ll focus more of the [new] capital into the names which we find most attractive today, and then allow the other positions to just naturally reduce over time. 

During March and April when markets fell, we actually did a lot more turnover because it was actually quite tax-efficient to reposition the portfolio – because we could realise losses, which could then offset the tax payments that would have been made on dividends.

So there’s a lot of trade offs that go into the process. That’s our edge as a quantitative manager, is to be able to trade off all of these different moving pieces of information, and then come up with a nicely diversified portfolio with a range of different style drivers, all acting at the same time.

MF: What’s the second stock that you’re proud of?

MC: The other one was a story on real estate. This was more a bit of a longer term trend. We’ve seen through our metrics that a lot of the retail shopping centre businesses were starting to fall off in their profit growth. And we saw this being driven by the fact that pretty much every square metre of Westfield shopping centre (Scentre Group (ASX: SCG)) was devoted to some kind of activity. 

So the scope for continuing to up the revenue within that current square meterage was then starting to be reduced. We saw that the growth prospects for some of those companies weren’t as strong, and we started repositioning to where we saw better opportunities in particular with stocks like Goodman Group (ASX: GMG).

Admittedly, the whole COVID pandemic lockdown accelerated a number of things. The lockdown within shopping centres meant that we were under-invested in those names, which was positive. Then with Goodman and their industrial portfolio picking up on delivery, and warehousing growth with Amazon.com Inc (NASDAQ: AMZN) here in Australia. 

But more importantly, Goodman actually has a very strong global business. So in one aspect we saw the growth in Goodman and deteriorating growth in retail. Through the last 12 months that’s been a positive thematic that’s played out. Maybe not for the reasons that we’d expected two years ago, but COVID accelerated that repricing within those stocks.

MF: Is there a move that you regret from the past? For example, a missed opportunity or buying a stock at the wrong timing or price.

MC: I do look at Afterpay and say, “In many ways at $10 in mid-March it was a value stock”. It’s so easy to say now in hindsight, I must admit it’s a little bit humbling when the stock that you choose in a sector, like Xero Limited (ASX: XRO), goes up a 100% and it’s the under-performer in the sector by a factor of 10!

Having lived through and managed an Australian small caps product through 1999 and 2000, I’ve seen how the market can re-price some of these names. In some ways we were a little bit slow, particularly in this portfolio, to get a position. We currently do [hold Afterpay], but we are underweight – it’s more there for risk purposes. 

That’s probably the one stock that, if we had our timing in, we might have had a little bit more invested in it in April and May, of last year.

We remain disciplined to our investment process. From a quality perspective its cash flow generation and lack of profitability is a red X for us. It’s hard to obviously get a value on the stock, but even across our metrics it doesn’t look like a valuation opportunity. 

Growth does seem to be turning more positive of late. That’s why we’ve taken a position over the last 6 months in the stock. Momentum has been quite strong… And the stock has responded very well or the market has responded to news and announcements from the company. 

But we still see that there is a divergence across analysts in the marketplace. You know, some believing that the stock is headed to $200, others believing that it’s probably more fair value at $30. No doubt, the truth is somewhere in between. Exactly which side is going to win out, we’ll just have to wait and see.

This Tiny ASX Stock Could Be the Next Afterpay

One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…

Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.

Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

Returns as of 6th October 2020

More reading

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Tony Yoo owns shares of AFTERPAY T FPO, Amazon, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Reliance Worldwide Limited and Xero and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Amazon and Reliance Worldwide Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Forget growth or value: Here’s a neutral way to pick shares appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3pB191v

2 top ETFs to buy for February 2021

Block letters 'ETF' on yellow/orange background with pink piggy bank

There are a few exchange-traded funds (ETFs) that could be worth looking at in February 2021.

An ETF allows investors to buy a large group of shares in a single trade, providing diversification.

Here are two ETFs that could be worth looking at:

Betashares Nasdaq 100 ETF (ASX: NDQ)

This has been one of the highest-performing large ETFs over the past few years.

The idea of this is to give investors exposure to 100 of the largest businesses in the US on the NASDAQ stock exchange.

This ETF is weighted towards technology, with almost half of the portfolio invested in information technology. Another 19% of the ETF is invested in consumer discretionary businesses and 18.6% is invested in communication services. Healthcare makes up 6.5% of the portfolio and industrials is responsible for 1.9%.

Looking at the holdings in the portfolio, there is heavy exposure to many of the biggest US technology businesses: Apple is 12.1% of the portfolio, Microsoft is 9.4% of the portfolio, Amazon is 8.6% of the portfolio, Alphabet is 6.3% of the portfolio, Tesla is 5% of the portfolio and Facebook is 3.3% of the portfolio.

Betashares Nasdaq 100 ETF also has investments in other technology businesses like Nvidia, PayPal, Intel, Netflix, Adobe, Advanced Micro Devices, Intuit and Applied Materials.

The ETF isn’t just about technology companies, it has many non-tech names in the portfolio like PepsiCo, Costco, Starbucks, Intuitive Surgical, Moderna and Monster Beverage.

There are also a couple of Asian giants listed on the NASDAQ, so they are within the ETF’s portfolio too including Baidu and JD.com.

The annual management fee of this ETF is 0.48% per annum.

Looking at the net returns, after fees, of the ETF shows a 13.3% net return over the past six months, a 34.8% net return over the past year, a 27.4% per annum net return over the last three years and a 21.4% net return per annum since inception in May 2015.

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

This ETF is about giving investors exposure to a diversified portfolio of attractively priced US companies with sustainable competitive advantages according to Morningstar’s equity research team.

The ‘wide moat’ part of the name comes from the fact that there’s a focus on quality US companies Morningstar believes possess sustainable competitive advantages, or ‘wide economic moats’.

To make it into the VanEck Vectors Morningstar Wide Moat ETF portfolio, those target companies need to be trading at attractive prices relative to Morningstar’s estimate of fair value, after a rigorous equity research process.

The entire portfolio is invested in businesses listed in the US, though the underlying earnings comes from multiple countries.

However, the investments are spread across a number of sectors. Those industries with a weighting of more than 5% include: health care (18.8%), financials (17.6%), information technology (17.5%), industrials (12.2%), consumer staples (10.8%), consumer discretionary (8.5%), communication services (5.5%) and materials (5.2%).

In terms of the actual holdings of VanEck Vectors Morningstar Wide Moat ETF, as of 29 January 2021 it had 49 holdings. The biggest positions were: Corteva, Dominion Energy, Emerson Electric, General Dynamics, Gilead Sciences, Alphabet, Guidewire Software, Intel and John Wiley and Sons.

After the annual management fee cost of 0.49% per annum, the net returns over the past five years have been 16.6% per annum. The index that the ETF tracks has made returns of almost 19% per annum over the last decade.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

More reading

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 top ETFs to buy for February 2021 appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3oFincS

Why is the Hawkstone Mining (ASX:HWK) share price flying 8%?

flying asx share price represented by hawk soaring through the air

Hawkstone Mining Ltd (ASX: HWK) shares are flying higher today. At the time of writing, the Hawkstone share price has soared 8.3% to 5.2 cents after climbing as high as 5.5 cents in morning trade. 

This compares to a 0.58% gain on the All Ordinaries Index (ASX: XAO). And it’s enough to put the Hawkstone share price up 420% in 2021. In fact, you could have bagged those 420% gains by buying Hawkstone shares as recently as Thursday 14 January. At the time, Hawkstone Mining was trading for just 1 cent per share. 

Why is the Hawkstone Mining share price on the rise?

A big surge in the Hawkstone share price late last week came thanks to positive news from the company’s lithium operations. However, the United States-focused, diversified minerals explorer’s intraday gains today look to be driven by gold.

In an update to the ASX this morning, Hawkstone Mining reported “spectacular grades” from its Devil’s Canyon Gold Project, located in the Carline trend in Nevada, US.

This comes after the company completed additional rock sampling, airborne drone magnetics and structural mapping at the project.

If you’re interested in a few of the technical results, the airborne magnetic survey identified additional geophysical features including “magnetite skarn alteration at lithological contacts and along structures”, and “zones of magnetite destruction possibly related to later mineralising events”.

The company noted the project is just 20 km east of Kinross Gold Corporation (NYSE: KGC)‘s Bald Mountain Mine, which has a resource of 5.9 million ounces of gold. It also reported that the Carlin trend has already produced more than 195 million ounces of gold. Clearly, Hawkstone is hoping to add to that figure.

What did management say?

Addressing the drill results, Hawkstone Managing Director Paul Lloyd said:

These highly encouraging rock sample assay results from our Devil’s Canyon Project further confirm and extend mineralised areas identified from previous work, which when combined with the recently completed aeromagnetic survey data, show several areas for high priority follow-up.

These high-grade results reinforce our business model of exploring for world class gold deposits in the Western United States adjacent to large gold resources or producing gold mines. This is in addition to our Big Sandy Sedimentary Lithium Project in Arizona that remains the company’s primary focus.

The company is continuing with drill targeting work and stated it expects to commence the maiden drilling program at Devil’s Canyon in the 2021 US northern field season.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

More reading

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why is the Hawkstone Mining (ASX:HWK) share price flying 8%? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2Lasnxc