The Anson Resources Ltd (ASX: ASN) share price has jumped into the green during today’s session. At the time of writing, Anson shares are swapping hands for 8.4 cents, a gain of 12%.

Today’s gain comes as Anson announced a key update to its Paradox brine project to the market.

Quick refresher on Anson Resources

Anson is a minerals exploration company that has particular interests in lithium, zinc, lead, and gold assets, among a list of other minerals.

It has several projects dotted around Australia and abroad, such as the Paradox brine project in Utah in the United States, and the Bull nickel-copper-PGE project in Western Australia.

Anson has a market capitalisation of $67 million at the time of writing.

What did Anson announce?

Anson revealed it had entered into a collaboration with TETRA Technologies at the Paradox brine project.

The Paradox brine project is a collection of claims and leases owned by the US and Utah governments, coupled with other local municipality agreements.

Henceforth, Anson confirmed the pair had signed a memorandum of understanding (MOU) to progress development at the site, including potential investment by TETRA.

The MOU effectively establishes a “framework of discussing options to work together” in order to “jointly develop” the Paradox site.

Both parties can now “negotiate an off-take agreement”, in addition to the economics of TETRA’s “patented process technology”.

TETRA is a “global leader in the production of bromine derivative products”, according to Anson. These products are used in “a number of applications including oilfield completion services and zinc-bromide energy storage batteries”.

Investors seem to have embellished the collaboration and have immediately rewarded Anson shares as a result of the news.

Anson Resources share price snapshot

The Anson Resources share price has delivered outsized returns over the year to date, posting a return of 178% since January 1.

This extends the previous 12 month’s return of 317%, which has far outpaced the broad index. The S&P / ASX 200 Index (ASX: XJO) has seen a return of about 26% over the same time.

The post Anson Resources (ASX:ASN) share price leaps 12% on US project news appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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A leading broker has put their weight behind the 29Metals Ltd (ASX: 29M) share price to outperform this year.

According to a recent note from Morgan Stanley, shares in the miner are poised to rise.

Let’s take a look at what analysts had to say about the 29Metals share price.

29Metals share price offering ‘compelling value’

Analysts at noted broker Morgan Stanley have lauded the potential latent in the 29Metals share price.

An article published in the Australian Financial Review earlier today elaborated on the note published by the broker.

According to the article, Morgan Stanley expects the 29Metals share price to rise sharply this year. Analysts from the broker noted that they perceive ‘compelling value’ in the share price of the copper miner.

The broker noted that 29Metals was in a tier 1 jurisdiction with plenty of room for diversification. Analysts cited the company’s Capricorn Copper and Golden Grove producing assets.

For 2022, analysts expect 58% of revenue from 29Metals to be generated from copper mining. Zinc (24%), lead (27%) and precious metals (16%) are expected to also contribute to the company’s bottom line.  

Analyst cited that the significant diversification in revenue generation has 29Metals poised for further growth.

In the article, an analyst from the broker stated;

“Although we acknowledge that 29Metal’s assets are old and high on cost, there is still significant margin to the current copper price and plans outlined by management indicate significant potential for low capex brownfield production growth if the asset strategy can be delivered, in-turn improving C1 costs from $US1.82 a pound in CY21 to $US0.94 a pound in CY25,”.

Analysts acknowledged that there were risks around mining rates and life-of-mine plans. However, the broker noted that risk-reward was favourable for the 29Metlas share price.

Morgan Stanley initiated coverage on 29Metals with an outperform rating for the company and a share price target of $3.10. At that target price, the company would be worth $1.49 billion.

Snapshot of the 29Metals share price

29Metals is a miner that owns copper projects in Australia and South America. Most of the company’s revenue is generated from its Golden Grove mine in Western Australia.

The 29Metals share price listed on the ASX at the start of July at $2 per share, 55% ahead of its listing price.

Shares in the miner recently received a boost after releasing its quarterly report.

At the time of writing, the 29Metals share price is trading near its record high of $2.42.  

The post Leading broker tips strong year ahead for 29Metals (ASX:29M) share price appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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The IOUpay Ltd (ASX: IOU) share price is soaring today despite no news having been released by the company.

Right now, IOUPay shares are trading for 24 cents apiece, 11.63% more than their previous close.

Additionally, more than 10.9 million IOUpay shares have swapped hands today. The average number of IOUpay shares traded per month is around 4.3 million.

Let’s take a look at what might be driving IOUpay’s shares higher today.

What might be driving IOUpay?

The IOUpay share price could be being boosted by a number of factors today.

The share price movement could be a belated reaction to IOUpay’s exciting news found within its quarterly report.

The report was released on Thursday. Within it, IOUpay detailed the successful launch of its myIOU buy now, pay later (BNPL) service.

As part of the service, IOUpay released a myIOU app to both the Apple App Store and the Google Play Store.

Despite only just launching the service, myIOU saw $584,459 worth of sales in June. After the end of the June quarter, IOUpay recorded another $1,609,431 worth of sales through myIOU.

Another factor that might be boosting the IOUpay share price is the broader BNPL market. Many BNPL shares are gaining at around the same rate as IOUpay today, likely spurred by the market’s excitement over Afterpay Ltd‘s (ASX:APT) takeover offer from Square Inc.

Afterpay’s board recommended Square’s acquisition offer on Monday.

The Afterpay share price is up 12% today. Fellow BNPL giant Zip Co Ltd (ASX:Z1P) is gaining 9.2%, while Sezzle Inc (ASX:SZL) is also performing better than the broader market, gaining 4.4%.

IOUpay share price snapshot

The IOUpay share price is having a good year on the ASX. Right now, it’s 20% higher than it was at the start of 2021. It has also gained 512% since this time last year.

The company has a market capitalisation of around $118 million, with approximately 551 million shares outstanding.

The post The IOUpay (ASX:IOU) share price is soaring 11% today. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Alphabet (A shares), Alphabet (C shares), Apple, and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Galaxy Resources Ltd (ASX: GXY) share price continues its impressive run into the green from today’s market open.

Whereas the S&P/ASX 200 Index (ASX: XJO) has posted a return of around 26% over the last 12 months, Galaxy Resources shares have gained 340% over the same time.

Here we examine some of the tailwinds behind the Galaxy Resources share price.

Planned Merger with Orocobre

Back in April, Galaxy revealed it had entered into a binding merger deed with Orocobre Limited (ASX: ORE).

Under the scheme, Orocobre would acquire 100% of Galaxy shares. In response, Galaxy shareholders will receive “0.569 Orocobre shares” for each Galaxy share held.

In addition, there is a meeting on 6 August where shareholders can vote on the proposal — that’s just around the corner.

The Galaxy Resources board unanimously recommends shareholders vote in favour of the scheme. Should the vote be successful, the new Orocobre/Galaxy shares will commence trading on 26 August.

As a result of the merger announcement, Galaxy Resources shares initially took a nosedive into the red soon after 19 April.

However, the share price rose again on the back of a court ruling in early July which allowed shareholders to vote on the merger. The Galaxy Resources share price has shot up 49% since then.

Lithium spot prices running hot

Underlying lithium prices in the spot markets continue to deliver upside on the charts for Australian lithium miners.

Using Orocobre as a case study, it recently realised a 45% sequential increase in lithium prices from March this year.

This resulted in a 117% year-on-year increase in realised lithium prices from the same time a year prior.

The entire basket of ASX-listed lithium exploration, development and mining shares have been major benefactors of these strengths in lithium spot prices.

Galaxy has expertise as a resource company with expertise in lithium. Therefore, it stands to reason that it has also been a major benefactor of this run-up in lithium markets.

To illustrate, since its quarterly activities report was released on 22 July, Galaxy Resources shares have jumped a further 21% from the market open on that day.

Galaxy Resources share price snapshot

The Galaxy Resources share price has posted a return of 27% over the past month, extending the year to date return of 117%.

Given the recent fundamental momentum, Galaxy Resources shares hit their 52-week high today.

Galaxy shares are now exchanging hands at $4.83 apiece, a 3% jump into the green from the market open.

The post Why the Galaxy Resources (ASX:GXY) share price hit a 52 week high appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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. 

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