Day: 26 May 2022

The Race Oncology Ltd (ASX: RAC) share price edged higher before being frozen today.

This comes after the pharmaceutical company requested its shares be placed in a trading halt.

At the time of writing, Race Oncology shares are on ice at $1.735 apiece.

It’s worth noting the company’s shares have fallen 28% in the past month following a drop-off in investor sentiment.

Why is the Race Oncology share price halted?

During mid-afternoon trade, the company requested the Race Oncology share price be halted while it prepares an announcement.

The request for the voluntary trading halt is in relation to the “release of clinical results for the dose escalation phase of the 1b/2 Zantrene AML trial in Israel”.

While the results remain unknown, investors will have to wait until on or before Monday 30 May to find out. It is expected once the announcement is provided to the ASX, the trading halt will be lifted.

More on Zantrene

Race Oncology is currently in a phase 1b/2 relapsed/refractory (R/R) acute myeloid leukemia (AML) Zantrene trial at the Chaim Sheba Medical Centre in Israel.

The team is analysing clinical patient samples from the ongoing Zantrene study for FTO and related biomarkers. FTO refers to the fat mass and obesity-associated (FTO) gene, which mostly influences the body mass index (BMI).

Overexpression of FTO has been shown to be the genetic driver of a diverse range of cancers.

Race is exploring the use of Zantrene as a new therapy for melanoma and clear cell renal cell carcinoma which is a type of kidney cancer.

About the Race Oncology share price

Since this time last year, the Race Oncology share price has declined by 45% in value.

However, in 2022, the company’s shares are further down, registering a loss of 52%.

Based on valuation grounds, Race Oncology has a market capitalisation of roughly $274.37 million.

The post Why is the Race Oncology share price in a trading halt? appeared first on The Motley Fool Australia.

More reading

• Can the AMP dividend yield really push to 15%?
• Why I’d buy the iShares S&P 500 ETF right now for instant diversification
• Here are the 3 most traded ASX 200 shares on Thursday
• Sick of the ASX falls? Me too!
• Action aplenty: Here’s why the Appen share price has now been halted

Motley Fool contributor Aaron Teboneras 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 Scott Phillips.

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Shares of AMP Ltd (ASX: AMP) are rangebound on Thursday and now trade less than 1% in the red at $1.08 apiece.

AMP has copped its fair share of flack in the past 12 months with its share price oscillating heavily across the period. Yet, it still holds a 2% gain in that time following a 7% lift in 2022.

One firm sees a huge lift in AMP’s dividend

Analysts at Bloomberg Intelligence have turned bullish on AMP and reckon the insurance giant can post a dividend yield well above what the consensus is pricing in for 2022.

In a recent note, Bloomberg Intelligence analysts Matt Ingram and Jack Baxter are constructive on AMP’s capital position and reckon this could bode in well for total shareholder return.

“AMP may achieve 15% dividend yield this year vs. consensus’ 3%, despite stating it’s not in a position to resume regular payouts to ‘hold a strong capital position’,” the pair wrote.

“This curbs our expected A$1 billion 2022 payout and more than 20% yield,” they added.

Yet yield will get a boost on its plan to return of a majority of proceeds from the sale of Collimate Capital businesses, which we think could top A$500 million

The analysts continued on by saying that AMP’s restructuring is aligned with the sale of the global equities and fixed income division from AMP Capital back in March.

This should free up additional capital, they say, that could ultimately be re-routed back to shareholders in the form of dividends.

Should the pair’s forecasts eventuate then AMP shareholders are in for a certain treat come the time of AMP’s next earnings announcement.

AMP share price snapshot

The AMP share price has managed to hold a 7% gain this year to date following a 3% gain in the past month of trade.

Shares have cooled off in recent weeks however, with the stock falling from a high of $1.21 on 5 May.

The post Can the AMP dividend yield really push to 15%? appeared first on The Motley Fool Australia.

More reading

• The board has acknowledged a ‘disappointing experience’ in relation to the AMP share price. What now?
• The ONE THING that could rock ASX shares from the election result: expert
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• When might the dividend drought break for AMP shares?
• What was the highest ever AMP share price?

Motley Fool contributor Zach Bristow 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 Scott Phillips.

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There has been a lot of volatility in 2022 so far. As such, I think it could prove to be a good time to invest in the iShares S&P 500 ETF (ASX: IVV).

For readers that haven’t heard of this exchange-traded fund (ETF) before, it’s an investment that gives exposure to the US share market. As the name may suggest, it’s invested in 500 of the largest and most profitable companies in the US.

Why I think iShares S&P 500 ETF is an opportunity today

The first five months of 2022 have been rough for plenty of shares. ASX shares and ETFs alike have seen declines.

The iShares S&P 500 ETF has fallen by around 15% since the start of the 2022 calendar year.

A lower price is attractive in my opinion, particularly for an ETF as diversified as this one.

I’ve already mentioned that it has 500 holdings. That reduces the individual company risk.

But it also has diversification across a number of sectors.

These are the weightings of the industries with an allocation of more than 5%:

• Information technology (27.3%)
• Healthcare (14.2%)
• Consumer discretionary (11.4%)
• Financials (10.9%)
• Communication (8.6%)
• Industrials (7.8%)
• Consumer staples (6.8%)

As you can see, IT and healthcare have the biggest weightings. But I think that’s a good thing – I think they are two of the most promising sectors. IT is where a lot of growth is (or was) happening and healthcare is seen as a defensive sector.

Compared to the S&P/ASX 200 Index (ASX: XJO), I think the S&P 500 has a much more diversified and preferred spread of sector allocation.

Quality holdings

There are 500 businesses in the portfolio, but many of the largest holdings display a lot of quality characteristics.

I think names such as Apple, Microsoft, Amazon.com, Alphabet, and Berkshire Hathaway are some of the strongest businesses in the world.

Quality metrics don’t necessarily lead to strong returns, but I think names like the above ones can do well over the long term.

Low fees

Another key reason why iShares S&P 500 ETF is an attractive option to me is that the management fees are extremely low.

The annual management fee is just 0.04%, which is almost zero. I like that because the fees aren’t being taken by fund managers, instead, the money is being left in the hands of investors. It helps the net returns of the fund.

Final thoughts

While timing the market may not be the right long-term investment strategy for investing in the iShares S&P 500 ETF, I think it makes sense to buy (more) of the ETF at this lower price.

It’s certainly possible that the share market could fall further and the ETF could become even better value, but my crystal ball isn’t working at the moment to know what’s going to happen next.

The post Why I’d buy the iShares S&P 500 ETF right now for instant diversification appeared first on The Motley Fool Australia.

More reading

• VGS: Were you better off buying the S&P 500 ETF?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), and iShares Trust – iShares Core S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is having yet another topsy-turvy kind of trading day this Thursday.

The ASX 200 initially opened in the green this morning, but descended into negative territory just before midday. The index is now nursing a 0.54% loss at around 7,115 points at the time of writing.

But rather than trying to figure all of that out, let’s instead take a look at the ASX 200 shares that are topping the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Tabcorp Holdings Ltd (ASX: TAH)

Tabcorp once again makes an appearance on this list today. So far this Thursday, a sizeable 19.44 million Tabcorp shares have found a new home. This ASX 200 gaming company has been in the news all week after its blockbuster spinoff of The Lottery Corporation (ASX: TLC) went into effect on Tuesday.

But the company has been struggling since then and has copped another loss of 3.24% so far today to below $1 a share. It’s this fall, as well as ongoing gyrations following the demerger, which is probably responsible for Tabcorp’s presence here.

Whitehaven Coal Ltd (ASX: WHC)

ASX 200 coal miner Whitehaven is our next cab off the rank today. So far, we’ve seen a hefty 19.53 million Whitehaven shares bought and sold on the ASX share market. There’s been no news out of Whitehaven today.

However, this company has been on the receiving end of a nasty share price sell-off. Whitehaven shares are presently down by 4.9% at $5.03 each. This comes after some big falls on commodity markets over the past day or two.

Pilbara Minerals Ltd (ASX: PLS)

Our third, final and most traded share of the day goes to ASX 200 lithium stock Pilbara Minerals. We’ve so far seen a whopping 21.3 million Pilbara shares change hands as it currently stands. Again, there has been no news out of Pilbara today to speak of.

But we have had a solid share price performance from this lithium producer this Thursday. Pilbara shares are currently up 1.08% at $2.80 each today. But saying that, the company has done a fair bit of bouncing around, and even went into negative territory at one point. It’s likely that this volatility has sparked the elevated trading volumes we are seeing with this ASX 200 share.

The post Here are the 3 most traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

More reading

• How do ASX shares typically perform following a demerger?
• Why Catapult, Costa, Endeavour, and Whitehaven Coal shares are dropping
• Why are ASX coal shares sliding today?
• Are newly-listed Lottery Corp shares worth buying? ASX brokers weigh in
• ASX 200 midday update: Appen rockets, Westpac super update

Motley Fool contributor Sebastian Bowen 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 Scott Phillips.

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I am so sick of down days on the ASX.

I’ve had enough.

So, I’m going to…

… just keep investing, anyway, because these things happen sometimes (unfortunately) but the overall direction of the market is still likely to be up — strongly — over the long term

That’s pretty much it.

That’s the formula.

It’s not secret.

It’s not magic.

But I will add something I’ve said before, to add some emphasis:

“The ASX has never yet failed to regain, then surpass, its previous highs.”

That’s not a guarantee, but unless we’ve seen the all-time peak for the ASX, I think it’s something that’s likely to happen again and again.

And if that’s true, here’s what the numbers say:

The All Ordinaries Index (ASX: XAO) closed at 7926.8 points on 4 January, this year.

As I type this, it’s at 7362.9 points.

If I’m right, and it goes back above its previous high – as it’s done every time – it’ll add 8% to get back there.

Then, in all likelihood, more from there.

Sure, it might fall first.

Maybe even by a lot. Or not.

We don’t know and can’t know.

But that’s just noise.

There’s 8% on offer, just to do something it’s always done.

And if it does fall further in the meantime?

Well, the gain, as we return to past highs – assuming that happens – will be even greater.

And if it doesn’t?

Well, we get to lock in that gain.

But what about individual companies?

It’s true that some have fallen by more.

A lot more.

Honestly, it depends.

If you own something that was stupidly overpriced in the past, your odds of making back that loss might be long.

Markets regularly get too excited (as well as too pessimistic) about some companies – particularly the ‘hot stocks’ that everyone is talking about.

Lithium? Maybe.

BNPL? Probably.

But others? Some will bounce out of their share price funk, once investors realise they have strong business models and bright futures.

No, I can’t tell you with certainty which is which.

Nor can I tell you how long it might take.

So you need to be diversified, and know what you’re buying and the risks you’re taking.

More often than not, the moonshots with huge upside potential also have a decent chance of exploding on the launchpad.

Those companies whose growth stories depended on them raising ever more capital from shareholders might be in for a rude shock as interest rates go up and risk appetites wane.

But some will do very, very well.

Now, some of those moonshots won’t explode on launch. And some profitable businesses with good cash flows might flounder.

The trick is to know what you’re buying, what you’re expecting, and your risk appetite.

Frankly, some companies whose shares have plunged 40%, 60% or 80% will be screaming bargains right now, with the benefit of hindsight.

Some will flame out.

If you’re a risk-seeking investor, that’s where I’d be shopping, as long as you have a seriously cast-iron stomach for volatility and you don’t mind a low success rate.

If not, I’d be looking at companies whose business models and cash generation are every bit as good, today, as they were six months ago, even though their share prices may have cratered.

This is not an ad, but for what it’s worth, we’re recommending one such company to members of Motley Fool Share Advisor this afternoon.

For all I know, the shares could fall tomorrow.

Maybe next week.

Maybe next month.

Or for the next few months.

Or not.

But if the cash generation capabilities of this company (and its ilk) are good enough, we’re happy to buy and wait for the market to come to its senses.

You don’t see too many entrepreneurs who sell out of their businesses just because of six or twelve month periods where buyers dry up.

You don’t buy and sell your home, multiple times a year, because the local real estate agent tells you there is fluctuating interest from buyers.

And yet, many of us are only too quick to let the market tell us what to think about the businesses we’re part-owners of.

Woolworths Group Ltd (ASX: WOW) shares were almost $32 a pop in 2014.

They fell to around $17.50 in 2016.

They were back to $41 by late last year.

And that doesn’t include dividends.

At $17.50, investors were probably pretty worried.

Some were, by definition, because they sold shares at that price.

Some held.

Others bought, or bought more.

Woolies paid 94c in dividends in the last 12 months.

That’s a 5.4% yield, plus franking credits, on the 2016 price.

Plus a rough doubling of the share price, between then and now.

It was easy to buy Woolies shares when the price was going up.

It was hard to buy Woolies shares when the price was falling.

It was hard to buy when the company’s Masters chain was bleeding cash and the company was shuttering supermarket stores.

And yet, we know how that ended.

I can almost guarantee – the Good Lord willing and the creeks don’t rise – that I will be writing about some of the 2022 laggards in five or six years’ time.

And in 2028, it’ll be obvious that we should have been buying shares in those companies, rather than fretting over the falls.

So, while others fret, I’m going shopping for shares.

Not because it’s comfortable. Not because this is (necessarily) the bottom.

But, as Warren Buffett has told us, again and again, we should be greedy when others are fearful.

Fool on!

The post Sick of the ASX falls? Me too! appeared first on The Motley Fool Australia.

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• 3 quality ASX All Ordinaries shares tumbling 10% or more today
• Are you investing with the odds in your favour?

Motley Fool contributor Scott Phillips 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 Scott Phillips.

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It certainly has been an eventful day for the Appen Ltd (ASX: APX) share price.

The artificial intelligence services company’s shares rocketed higher this morning after it received a takeover approach.

Less than a trading session later, the Appen share price has been slammed into a trading halt pending the release of another announcement.

What’s going on with the Appen share price?

This morning Appen received an unsolicited, conditional, and non-binding indicative proposal from Canada’s Telus International to acquire it for $9.50 per share. This represented a 48% premium to the Appen share price at yesterday’s close and valued the company at approximately $1.2 billion.

And while the Appen board revealed that it would engage with Telus and grant it due diligence, it suggested that the offer would not be enough to get a deal over the line. It said:

The Board is in discussions with Telus to seek an improvement in the terms of the Indicative Proposal. To facilitate this, the Board has offered to provide, on a non-exclusive basis, limited business and financial information, subject to Telus agreeing to enter into a mutually acceptable confidentiality and standstill agreement, which it has yet to execute. At this point in time, no material non-public information has been provided to Telus.

What’s the latest?

While details are light at this stage, Appen’s trading halt request states:

The trading halt is requested in light of developments with respect to the non-binding indicative proposal announced in relation to Appen earlier today.

Appen requests that the trading halt remain in place until the earlier of: (1) Appen making an announcement regarding the developments with respect to the proposal; and (2) Monday, 30 May 2022.

Although there has been speculation that a private equity firm is also circling, this request appears to suggest that the announcement will be in relation to the offer that has already been tabled.

If that is the case, there are a couple of potential scenarios. One is that Telus has had a quick look at the books and has seen enough to up its offer.

The other is that it was so horrified with what it saw that it withdrew its offer and caught the first flight back to Canada.

Unfortunately, investors will need to be patient and wait until tomorrow or Monday before getting an answer.

The post Action aplenty: Here’s why the Appen share price has now been halted appeared first on The Motley Fool Australia.

More reading

• Will the $2 billion Telus International up its bid for ASX-listed Appen?
• Why ALS, Appen, Objective Corp, and WiseTech shares are pushing higher
• ASX 200 midday update: Appen rockets, Westpac super update
• Appen share price rockets 35% on Telus takeover approach
• Appen share price on watch amid $1.2 billion takeover bid

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd. 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 Scott Phillips.

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The Endeavour Group Ltd (ASX: EDV) share price is trading down on Thursday and currently rests 5.35% in the red at $7.25.

The alcohol and pubs company’s shares have swung between $7.25 and $7.60 today, having already come down from a high of $7.91 on 17 May.

In wider market moves, the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) has also slipped around 2.25 today, while the S&P/ASX 200 Index (ASX: XJO) is down 0.5%.

What’s up with Endeavour?

The Endeavour share price is falling on the back of the company’s investor day presentation.

The company reiterated that it sees $120 million to $230 million in growth opportunities in FY23 alongside a targeted capital expenditure (CAPEX) plan of $200 million to $260 million for the year.

It’s also targeting 20 to 30 additional retail stores, while aiming to allocate some of its CAPEX spend to the acquisition of “hotels, production assets and productivity”.

In addition, the company is also looking at a dividend payout ratio of 70–75% from free cash flow “based on current expectations”.

Investors don’t appear to have welcomed the news with open arms, and instead appear to be taking a ‘glass half empty’ approach in today’s session.

The selling pressure has occurred on a volume more than 67% of the stock’s four-week trading average at more than 2.2 million shares.

As such, Endeavour now trades back in line with its February 2022 levels.

Endeavour share price snapshot

Since listing on the ASX in June 2021, the Endeavour share price has climbed around 19% into the green. It has also gained 8% this year to date.

However, it is down around 6% over the past month.

The post Why is the Endeavour share price sliding 5% on Thursday? appeared first on The Motley Fool Australia.

More reading

• How do ASX shares typically perform following a demerger?
• Why Catapult, Costa, Endeavour, and Whitehaven Coal shares are dropping
• 2 ASX All Ordinaries shares top brokers rate as buys
• 2 ASX shares to buy as Aussies tighten their belts
• 2 retail ASX shares Morgans rates as a buy now

Motley Fool contributor Zach Bristow 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 Scott Phillips.

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Mergers and demergers have been all the rage on the ASX over the past few years. It seems we can only go for a month or two these days without finding out about a new plan to split or merge an ASX share or two.

Just this week, we had the splitting of Tabcorp Holdings Ltd (ASX: TAH), which spun out The Lottery Corporation (ASX: TLC) on Tuesday. This follows several high-profile demergers before it.

Endeavour Group Ltd (ASX: EDV) flew the Woolworths Group Ltd (ASX: WOW) nest last year. Iluka Resources Limited (ASX: ILU) split with Deterra Royalties Ltd (ASX: DRR) back in 2020.

There’s also a debate raging within AGL Energy Limited (ASX: AGL) as to whether going down the demerger route is the best way forward for the company. A vote will take place on 15 June.

But demergers, despite the hype, don’t always work out for ASX investors.

Since its demerger in 2020, Deterra Royalties shares have gone backwards. Lottery Corp shares haven’t exactly had a kind first few days of trading either.

Is a demerger ever a bad thing for ASX shares?

According to a report in the Australian Financial Review (AFR) this week, this is no accident. Macquarie analysts have run the ruler over the ASX’s history of demergers and found that “demerged businesses usually underperform by up to 10 per cent in the first six months”.

Not only that, but the analysts also found “the trend has only become stronger in the past five years, with spun-out businesses taking at least 12 months to trade well with spells of underperformance longer and stronger”.

But that’s only for the spun-off company. In the parent company’s case, Macquarie revealed the picture can get even bleaker still:

For the parent, the wait to returns has been even longer. Macquarie found it’s not until 18 months after the demerger goes live that the head stock starts to outperform. The parents have done slightly better in recent years because of stronger run-ups in the share prices between the announcement and the implementation, but it’s still taking them up to 12 months to outperform.

Of course, there are exceptions. Endeavour had a relatively successful split from Woolworths. And until this year, the Coles Group Ltd (ASX: COL) split from Wesfarmers Ltd (ASX: WES) back in 2018 looked like pure genius.

But still, numbers don’t lie. Macquarie’s analysis indicates that investors in a demerged or demerger company face an uphill battle for returns.

No doubt Tabcorp and Lottery Corp shareholders will be hoping their companies turn out to be trend-buckers. But we’ll have to wait and see.

The post How do ASX shares typically perform following a demerger? appeared first on The Motley Fool Australia.

More reading

• Why is the Endeavour share price sliding 5% on Thursday?
• Why is the Zip share price beating the ASX 200 today?
• Why Catapult, Costa, Endeavour, and Whitehaven Coal shares are dropping
• Are newly-listed Lottery Corp shares worth buying? ASX brokers weigh in
• ASX 200 midday update: Appen rockets, Westpac super update

Motley Fool contributor Sebastian Bowen 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 positions in and has recommended COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Resources Index (ASX: XJR) is underperforming on Thursday, but these ASX mining shares are bucking the trend to record whopping gains.

They’ve all surged more than 20% today – some for no apparent reason.

Let’s take a closer look at what’s going on with these three ASX mining shares.

3 ASX mining shares rocketing higher

Galileo Mining Ltd (ASX: GAL)

The Galileo Mining share price is surging upwards once more on Thursday, gaining 49.2% to trade at $1.41.

Its gains come on the back of assay results released by the company this morning. The results from six drill holes have confirmed palladium, platinum, gold, copper, and nickel at the company’s Norseman Project’s Callisto discovery.

Galilea Mining is now planning to kick off another 20-hole drilling program at the discovery next week.

Its shares are now up 509% this year to date.

Resource Mining Corporation Limited (ASX: RMI)

The Resource Mining share price is also launching higher today. It’s surged 33% to trade at 14 cents right now. That’s a new multi-year high for the ASX mining share.

There’s been no news from the Tanzania-focused nickel explorer since 17 May. However, it did release a non-price sensitive investor presentation on Thursday.

The company is continuing to work towards its acquisition of five nickel projects in Tanzania, as announced earlier this month.

Resource Mining shares have soared 350% since the start of the year.

Ragusa Minerals Ltd (ASX: RAS)  

The final ASX mining share to post a whopper of a gain on Thursday is Ragusa Minerals. The company’s stock is currently 22.7% higher, trading at 14 cents.

There’s been no news from the $14 million gold-turned-lithium explorer today.

However, it announced its spin towards the ‘white gold’ that is lithium earlier this week.

The company has shaken on a tenement farm-in agreement that will see it able to earn an initial 90% interest in five lithium prospective tenements in the Northern Territory. It also has the option to up its stake in the tenements to 100% in the future.

Since the start of 2022, the Ragusa Minerals share price has gained 69%.

The post 3 ASX mining shares going gangbusters on Thursday appeared first on The Motley Fool Australia.

More reading

• Galileo Mining share price surges another 25% on ‘very important’ drill results
• The Galileo Mining share price has been on a tear, but now it’s halted. What’s happening?
• 3 ASX microcap shares going gangbusters on Monday
• Tiny ASX gold share soars 23% on ‘transformational’ lithium prospects
• 3 ASX mining shares that went gangbusters on Friday

Motley Fool contributor Brooke Cooper 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 Scott Phillips.

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We Aussies like to gaze upon the richest people in our country with what I suspect are mixed emotions. There might be pride and respect, but also some curiosity, perhaps even a little jealousy and (in some cases) outright resentment.

After all, we are a country known for its love of egalitarianism and occasional enforcement of the tall poppy syndrome.

But that doesn’t change the fact that there is an enormous amount of wealth concentrated among our richest people.

Every year, the Australian Financial Review (AFR) catalogues our richest residents in its Rich List. Well, its latest edition has just been revealed, and it makes for some interesting reading. So let’s check out our richest citizens, and what ASX shares they own (if any).

Australia’s richest people revealed

Here are the current richest ten Aussies and what the AFR estimates are their net worth:

1. Gina Rinehart with a net worth of $34.02 billion, up from $31.06 billion in 2021
2. Andrew Forrest with a net worth of $30.72 billion, up from $27.25 billion in 2021
3. Mike Cannon-Brookes with a net worth of $27.83 billion, up from $20.18 billion in 2021
4. Scott Farquhar with a net worth of $26.41 billion, up from $20 billion in 2021
5. Anthony Pratt and family with a net worth of $24.3 billion, up from $20.09 billion in 2021
6. Harry Triguboff with a net worth of $21.25 billion, up from $17.27 billion in 2021
7. Clive Palmer with a net worth of $19.55 billion, up from $13.01 billion in 2021
8. Melanie Perkins and Cliff Obrecht with a net worth of $13.8 billion, up from $7.98 billion in 2021
9. Ivan Glasenberg with a net worth of $12.2 billion, up from $7.39 billion in 2021
10. Frank Lowy with a net worth of $9.27 billion, up from $8.51 billion in 2021

So that’s Australia’s richest 10 people as it currently stands.

It’s the third year Gina Rinehart has topped the list in a row, so she must be feeling pleased as punch.

However, according to the report, this is only due to the recent slump in the Atlassian plc (NASDAQ: TEAM) share price. Atlassian shares have fallen more than 50% over 2022 so far. If the company had stayed at its older valuations, co-founders Cannon-Brookes and Scott Farquhar would be sitting at the top of the list today.

Why no ASX shares for the richest Aussies?

Interestingly though, Cannon-Brookes and Farquhar are among only a few rich listers to actually derive their wealth from publically-listed shares. Atlassian trades on the US markets.

Andrew ‘Twiggy’ Forrest is another one. His famous stake in Fortescue Metals Group Limited (ASX: FMG) keeps him in second place. But Gina Rinehart’s company Hancock Prospecting is private, meaning there are no ASX shares for mere mortals like you or me to trade alongside her with.

It’s a similar story with Anthony Pratt’s packaging and recycling giant Visy Industries, which is also private. And ditto with the tech company Canva, which was founded by married couple Melanie Perkins and Cliff Obrecht.

Again, Clive Palmer (of recent political fame) derives most of his wealth from the private company Mineralogy. As does Harry Triguboff from private property giant Meriton.

It seems our richest people don’t necessarily hold too much faith in owning large swathes of public ASX shares.

The post The richest Aussies revealed (and the ASX shares they own) appeared first on The Motley Fool Australia.

More reading

• What’s the outlook for ASX 200 dividend shares in the second half of 2022?
• Why is the Fortescue share price tumbling 4% today?
• Are ASX 200 mining shares good options for dividends?
• Australia’s renewable energy output could triple by 2030 under Labor. Will that impact these ASX 200 shares?
• Why has the Fortescue share price gained 10% in a week?

Motley Fool contributor Sebastian Bowen has positions in Atlassian. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Atlassian. 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 Scott Phillips.

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