Category: Stock Market

The Starpharma Holdings Limited (ASX: SPL) share price has come under pressure on Tuesday despite the release of a positive announcement.

In afternoon trade, the dendrimer products developer’s shares are down 4.5% to $1.99.

What did Starpharma announce?

This morning Starpharma announced that its Viraleze antiviral nasal spray has now been launched in the UK by LloydsPharmacy.

Viraleze is a broad spectrum antiviral nasal spray that contains astodrimer sodium (SPL7013), which is virucidal and irreversibly inactivates >99.9% of the virus that causes COVID-19 within one minute.

The company also notes that SPL7013 has been shown to be highly active against multiple strains of COVID-19, as well as a broad spectrum of other viruses. These include influenza, RSV, SARS, MERS, and HIV.

What now?

According to the release, Viraleze is now available for purchase in the UK online at LloydsPharmacy and will soon be launched instore.

At present, LloydsPharmacy plans to rollout Viraleze to their 1,400 UK pharmacies in April. It will also be made available through McKesson’s AAH wholesale division, which services a total of 14,000 independent pharmacies in the UK.

But the company won’t be stopping there. Starpharma also plans to roll the product out across Europe, and will seek registration for the product in other regions, including Australia.

Commenting on the deal with LloydsPharmacy and McKesson last week, Starpharma’s CEO, Dr Jackie Fairley, revealed that the company was very excited with the launch.

She said: “We are excited that VIRALEZE will be available from next week in the second largest pharmacy chain in the UK. The LloydsPharmacy/McKesson team shares Starpharma’s enthusiasm and commitment to bring VIRALEZE antiviral nasal spray to UK consumers as they emerge from their latest lockdown. LloydsPharmacy represents an ideal partner for this product.”

Why is the Starpharma share price tumbling lower?

While the above is a big positive, it was already largely factored in by the market following its previous announcement.

In light of this, investors may be taking a bit of profit off the table today after a strong gain by the Starpharma share price this year.

In fact, even after today’s decline, the Starpharma share price is up 30% since the start of the year.

More reading

• Starpharma (ASX:SPL) share price pushes higher on COVID-19 nasal spray update
• Why the Starpharma (ASX:SPL) share price is charging higher today

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 Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. 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 Wiluna Mining Corporation Ltd (ASX: WMX) share price is flat today despite positive updates on its flotation plant construction, mineral drilling project and renewable power studies.

The Perth-based gold mining company controls more than 1,600sq km of the Yilgarn Craton in the Northern Goldfields of Western Australia. 

After dropping slightly this morning, the Wiluna share price has returned to where it started today and is trading at 99 cents at the time of writing. 

Let’s take a closer look at what’s driving the Wiluna share price today.

What did Wiluna announce?

In its latest development update, the company revealed its stage 1, 750 kilotonne-per-annum flotation plant construction and mine development was on schedule, with the mineral resource drilling for its stage 2 feasibility study also on track.

Wiluna’s renewable power studies to supplement gas power generation are in progress, in line with the growing trend across the basic materials sector to diversify into renewable energy.

The company says its stage 2 feasibility study into a metallurgical test work program is also underway for additional design data and variability testing.

In addition, Wiluna has signed an agreement to enter a five-year alliance with Byrnecut Australia Pty Limited for the construction and operation of an underground mine.

Management commentary

Despite the Wiluna share price nearing 10-year lows, executive chair Milan Jerkovic was bullish regarding its progress.

Outstanding progress has been made by our projects and operations teams and key contractors as we prepare to ramp up underground operations to supply sulphide ore feed to the new flotation concentrator currently under construction at Wiluna.

Ensuring the success of these two activities through 2021 is the primary focus of our business as our people work to deliver upon our promise to transform the Wiluna Mining Centre into a significant producer of gold doré and gold in concentrate.

At the same time, we are drilling to expand our resources and reserves for inclusion in the Stage 2 Feasibility Study due to be completed by the end of this year. We continue to explore ways to mine and process more efficiently, sustainably and profitably for the benefit of our shareholders and stakeholders.

Mr Jerkovic emphasised the importance of partnerships with leading industry players. He welcomed the support of GR Engineering Services for process engineering, plant design and construction, and Byrnecut Australia to construct and operate the mine and offtake partners Polymetal and Trafigura. 

About the Wiluna share price

Last week, the gold miner received investor commitments for $21.5m as part of an $80m funding package for a new West Australian gold mine.

Its ongoing drilling campaigns have also seen a 142 per cent increase in the contained gold within the company’s mineable underground ore reserves. There has also been no negative press about the company for some time now.

But it hasn’t been a great six months for the miner, with shares falling from a high of $2.18 on 23 September 2020 to their current level of 99 cents. The Wiluna share price is down 8.76% this week, 15.02% this month and 28.78% this year to date.

It’s also down 42.06% against the basic materials sector – a sector that has boomed thanks to strong iron ore prices.

More reading

• AGL Energy (ASX:AGL) share price slides after latest announcement
• Leading brokers name 3 ASX shares to sell today
• Amazon scores a big NFL merchandise deal
• US markets just hit an all-time high. Is the ASX 200 next?
• Here’s why the BCI Minerals (ASX:BCI) share price just jumped 5%

Motley Fool contributor Lucas Radbourne-Pugh 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 AGL Energy Limited (ASX: AGL) share price dropped after the Victorian government announced it will prevent the company from constructing a gas import terminal and pipeline at Western Point.

At the time of writing, shares in the energy producer are trading for $9.91, down 2.56%. However, the share price was up in morning trade on news the company would split, opening at $10.43.

For comparison, the S&P/ASX 200 Index is down 0.3%.

Let’s take a closer look at the Victorian government’s decision and AGL’s response.

Victoria prevents Crib Point Project — cites the environmental impact

The AGL share price is responding badly to today’s news. In a statement this morning, the Victoria’s Labor government announced it would not allow the Crib Point gas terminal and pipeline to Pakenham to proceed.

The state’s planning minister, Richard Wynne, said the project would have unacceptable environmental impacts.

It’s very clear to me that this project would cause unacceptable impacts on the Western Port environment and the Ramsar wetlands – it’s important that these areas are protected.

Ramsar wetlands are internationally important wetlands that are “representative, rare, or unique”, according to the Commonwealth government.

In October 2018, the planning minister held an inquiry into the project to examine its potential environmental impacts. At the time, the minister cited the potential for significant environmental effects for the inquiry.

“This has been an exhaustive, open and transparent process and this is the right outcome for the local community, the environment and Victoria as a whole,” Mr. Wynne said of the process.

AGL responded to the decision in a statement to the ASX. In it, AGL says it is “reviewing and considering its position in relation to the Minister’s determination.”

Additionally, the company estimates it has spent $130 million to date on the now presumably abandoned project.

AGL to split

As stated earlier, AGL announced this morning it intends to split its business in 2. Thus, “New AGL” will focus on energy retailing. “PrimeCo” on the other hand, will be an electricity generator. The news was initially a boon for the AGL share price.

In a statement, the company CEO and Managing Director, Brett Redman, said:

The proposed structural separation would give each business the freedom, focus and clarity to execute their own respective strategies and growth agendas, while playing an equally important, but different, role in Australia’s energy transition.

AGL share price snapshot

The AGL share price has dropped 40.22% since this time last year. It is one of a few companies that continue to struggle because of the COVID-19 pandemic.

AGL has a market capitalisation of $6.3 billion.

More reading

• ASX 200 down 0.15%: AGL to split into two, NAB’s 86 400 acquisition receives ACCC approval
• Why AGL, Digital Wine, REA Group, & Xero shares are charging higher
• AGL (ASX:AGL) share price higher on structural separation plans
• What’s happening with the Damstra (ASX:DTC) share price?
• What’s with the AGL Energy (ASX:AGL) share price today?

Motley Fool contributor Marc Sidarous 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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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

JB Hi-Fi Limited (ASX: JBH)

According to a note out of Morgan Stanley, its analysts have downgraded this retailer’s shares to an underweight rating with a reduced price target of $46.00. The broker made the move partly on valuation grounds after a strong gain took its shares close to all-time highs. In addition to this, Morgan Stanley has suggested investors be cautious when it comes to the household goods part of the retail sector. Particularly given how this area of the market benefited from early panic buying 12 months ago. This means JB Hi-Fi will now be cycling very tough comps. The JB Hi-Fi share price is fetching $51.79 today.

Pilbara Minerals Ltd (ASX: PLS)

A note out of Ord Minnett reveals that its analysts have retained their sell rating but raised their price target on this lithium producer’s shares to 75 cents. According to the note, the broker has lifted its price target to reflect a recovery in demand for lithium and rising prices. However, even after factoring this in, Ord Minnett still believes that the company’s valuation is stretched at the current level. The Pilbara Minerals share price is trading at $1.03 this afternoon.

Synlait Milk Ltd (ASX: SM1)

Analysts at Morgans have retained their reduce rating and cut the price target on this dairy processor’s shares to $2.58. This follows the release of Synlait’s underwhelming half year result on Monday. According to the note, Morgans has downgraded its earnings estimates to reflect management’s guidance and a slower than expected recovery over the coming years. In addition to this, the broker appears to have a few concerns over its balance sheet. The Synlait share price is trading at $3.15 on Tuesday afternoon.

More reading

• ASX 200 dips lower, Webjet drops, REA bids for Mortgage Choice
• Why Immutep, Inghams, REA Group, & Synlait shares are sinking
• What’s happening with ASX lithium shares as battery-grade lithium prices push higher?
• These are the 10 most shorted shares on the ASX
• Synlait (ASX:SM1) share price on watch after reporting huge profit decline

Motley Fool contributor James Mickleboro 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Shortly after inking a deal as the exclusive broadcaster of Thursday Night Football games through its streaming service, Amazon (NASDAQ: AMZN) has secured another alliance with the NFL to carry an expanded range of league-related merchandise.

Sportico reports most officially licensed brands on the NFL website are now available on Amazon, too.

Among the many brands now appearing on Amazon for the first time, Fanatics is one potentially getting a significant boost from the partnership.

The licensed sports merchandise company is now valued at $12.8 billion after a fresh round of funding from Silver Lake Partners announced yesterday, which added $320 million to the privately held company’s war chest.

Investors have been waiting impatiently for a Fanatics IPO for some time, but a spokesman remarked yesterday that while “an IPO is clearly an available option to us, there is no update on any timeline.” Expansion to Amazon’s colossal marketplace could make the company even more attractive as an initial public offering.

The official provider of on-field NFL apparel, Nike (NYSE: NKE), is notably left out in the cold by the new pact, Sportal reports. Nike axed its first partnership with Amazon back in November 2019, possibly partly over Amazon’s alleged inability to prevent the sales of fake Nike items by third-party sellers.

Neither Amazon nor the NFL has yet commented publicly on the new partnership, so its duration and exact terms remain unknown for now.

Amazon is continuing its aggressive expansion policy in everything from sports streaming to backing the IPO of food delivery company Deliveroo, though it is also drawing some criticism for reportedly imposing intrusive monitoring of delivery drivers that even includes a collection of biometrics such as yawning.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• 2 top ASX ETFs to buy right now
• Amazon reportedly demands that delivery drivers submit to invasive biometric surveillance or be fired
• How to counter the ASX 200’s Achilles heel
• Why it’s a great time for ASX investors to buy US shares
• When dividends can be a bad thing for an ASX share

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Upon awakening this morning, ASX investors were treated to the news that the US share market had, overnight our time, made yet another new all-time high. Yes, the Dow Jones Industrial Average (INDEXDJX: .DJI) closed at 33,171 points this morning, its highest-ever closing level.

The S&P 500 Index (INDEXSP: .INX) also had a top day, coming tantalisingly close to 4,000 points during intra-day trading when it hit a high of 3,981 points for the first time.

What is happening in the US?

You know that there are worse problems to have when all investors are worried about is higher inflation and interest rate hikes down the road. That seems to be the prevailing theme of the current state of the US markets. The US political scene is also likely to be adding to the optimism. Markets have barely digested the fulls cope of the Biden administration’s mammoth US$1.9 trillion stimulus package that only came into effect this month. Most Americans would have received a US$1,400 cheque over the last week or two, which wouldn’t have hurt either.

And according to Forbes, the President is now reportedly turning his attention to a new, multi-trillion infrastructure spending bill, which will be very accommodating for more economic growth if it passes Congress.

Best of all, the US vaccine rollout is going exceptionally well. This week, the White House stated that 90% of adults in the US will be eligible for vaccination by 19 April, with 90% of Americans having a vaccination site within 5 miles of where they live. No wonder the US markets are feeling bullish.

However, not all US shares are feeling the love. The Nasdaq Composite (INDEXNASDAQ: .IXIC) is the elephant in the room. Investor shave long been used to the Nasdaq topping the other US benchmark indexes. Just to illustrate, the S&P 500 is up 91.6% over the past five years, while the Nasdaq Composite is up 169%. Yet the Nasdaq is down more than 7% since 12 February, while the S&P 500 is up almost 1%.

What about the ASX 200?

So why isn’t any of this optimism flowing through to the S&P/ASX 200 Index (ASX: XJO)? Well, it’s worth noting that the ASX 200 is up 1.5% over the past five trading days. This comes even though it seems to be having a weak day today. But the fact remains that the ASX 200 is not even close to overcoming its pre-COVID high of 7,162 points. That’s still more than 5% away (the US markets passed their pre-COVID high in August last year).

Well, we could probably explain this by comparing the two markets. The US has just pushed ‘go’ on major new stimulus. Our stimulus programs like JobKeeper are winding down. And our own vaccine rollout plan is a little behind compared to America’s. 

Still, the ASX 200 is up 31% over the past 12 months. That’s worth a lot in itself!

More reading

• Which is the better investment: An ASX share portfolio or an index fund?
• ASX 200 down 0.15%: AGL to split into two, NAB’s 86 400 acquisition receives ACCC approval
• Australia’s first cryptocurrency fraud case filed to the Federal Court
• ASX 200 dips lower, Webjet drops, REA bids for Mortgage Choice
• Will the ASX 200’s ‘China problem’ get worse?

Motley Fool contributor Sebastian Bowen 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 BCI Minerals Ltd (ASX: BCI) share price is up by 5% today after the company announced it has awarded up to $90 million in contracts to construction companies and support infrastructure arrangements for its Mardie Salt and Potash Project.

Despite securing a large loan, the contracts are currently funded from BCI’s existing strong cash reserves and continuing royalty income from its Iron Valley holdings.

The contract for initial ponds is awarded to WBHO Infrastructure, the Australian subsidiary of international civil construction expert, WBHO Construction. The contract for the Project Management Contractor (PMC) role awarded to reputable WA-based
project and construction management company, Engenium.

Engenium brings local expertise to the role, with offices and teams currently based in Perth and Karratha. Neither of these companies are ASX listed. All of these contract prices fall within BCI’s July 2020 Definitive Feasibility Study (DFS) cost estimates.

BCI Minerals share price strong on Mardie project

The BCI Minerals share price has risen over 100% over the past 12 months on strong iron ore prices, but the potash industry allows the company to further diversify.

Mardie is a West Australian region just south of Karratha, which BCI earned a $450 million loan from the Northern Australia Infrastructure Facility to mine in December last year, for a period of 15 years.

 The construction contracts include initial construction of the large-scale trial pond scheduled to commence in April, as well as construction of evaporation ponds 1 and 2. The total earthworks volume in this scope is approximately 800,000 cubic metres over an area of 24 square kilometres. 

Commenting on the contracts, BCI’s managing director Alwyn Vorster said:

The award of the initial earthworks contract in particular represents a key milestone in BCI’s progress toward main construction and demonstrates Board confidence in Mardie’s development pathway. These contracts will be initially funded from BCI’s healthy cash balance and strong Iron Valley royalty income.

Salt and potash

Potash is expected to become a particularly valuable industry for Australia due to its use in horticulture. BCI believes Mardie “will be a globally significant Tier 1 salt and sulphate of potash project that is forecast to generate robust cash flows over an operating life of at least 60 years.”

The Northern Australia Infrastructure Facility launched an independent assessment, which forecasted significant benefits to the northern Australian region over Mardie’s construction and operating life. Mardie will have a peak construction workforce of approximately 500 people and a permanent operating workforce of around 200 people.

At the time of writing, the BCI Minerals share price is sitting at 32 cents a share.

More reading

• De Grey (ASX:DEG) share price falters despite new gold discovery
• Why the Calix (ASX:CXL) share price is eyeing record highs
• Why the Digital Wine (ASX:DW8) share price has surged 31% today
• Is the Fortescue share price ring-fenced by Twiggy and its climate targets?
• It’s official – Why RXP Services (ASX:RXP) shares de-listed from the ASX

Motley Fool contributor Lucas Radbourne-Pugh 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 De Grey Mining Limited (ASX: DEG) share price is backtracking in early afternoon trade despite the company announcing a new shear-hosted gold discovery. At the time of writing, the gold and mineral exploration company’s shares are fetching $1.0475, down 2.1%.

What were the results?

Investors are dumping De Grey shares regardless of the initial positive results obtained from its RC spaced drilling campaign.

According to its release, De Grey has identified new shear-hosted gold deposits at the Gillies prospect. This is located within the Farno McMahon joint venture and is about 30 kilometres southwest of the Hemi gold discovery.

The drilling results yielded strong gold mineralisation which included a strike of 15 meters @ 1.8g/t (grams per tonne) Au (gold) from 90 meters in GLR016. This was within the broader 52 meters @ 0.7g/t Au from 53 meters in GLC016.

De Grey has increased its equity in the Farno McMahon joint venture to 75%, up from the original 30%. The other joint venture partner is Novo Resources Inc, which holds the remaining 25%.

The Gillies prospect is relatively untouched with only early-stage exploration activities focused on target generation and mapping bedrock gold systems. The new gold target is shear-hosted and intersected over a broad 50-meter-thick zone downhole.

The initial drilling program completed 21 reverse circulation (RC) holes with over 4,400 meters drilled. Previously in late 2019, air-core and soil sampling results led to encouraging finds.

De Grey revealed that the prospect area contains sandstones and siltstone units over 3 kilometres long by 600 meters wide. The northern-half of the prospect is of particular interest as shallow and spatial gold results were identified in the 2019 air core program. These findings included 1 meter @ 1.2g/t Au in GLAC013 and 1 meter @ 0.9g/t Au in GLAC012.

The company noted that a follow-up RC drilling program is scheduled to be undertaken in Q2 2021. Over 2,000 meters is being planned to be drilled across a number of holes. Additional air-core drilling is also planned to test numerous bedrock gold anomalies.

Management commentary

De Grey managing director Glenn Jardine commented:

De Grey has formed a dedicated regional exploration team which is preparing for the Company to restart exploration outside of the Greater Hemi area, in parallel with extensional and exploration work within the Greater Hemi area. We anticipate following up the Gillies discovery hole in the next quarter.

About the De Grey share price

The De Grey share price has accelerated by almost 340% since this time last year. However, it’s a different picture when looking at the company’s shares year to date. De Grey shares have fallen by around 4% so far in 2021.

On valuation grounds, De Grey commands a market capitalisation of about $1.38 billion, with almost 1.3 billion shares on hand.

More reading

• The De Grey (ASX: DEG) share price lower despite outstanding gold results

Motley Fool contributor Aaron Teboneras 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 Calix Ltd (ASX: CXL) share price has had an outstanding performance so far in 2021. Most recently, surging more than 100% from $1.07 to a close of $2.29 on Monday. The company’s core technology is used to develop more environmentally friendly solutions for industries including batteries, agriculture, and aquaculture. 

Today, the company announced that its demonstration project, LEILAC-2 (low emissions intensity lime and cement) has passed its pre-FEED (pre-front end engineering and design) study go/no go milestone. 

Calix share price on watch after passing key milestone 

Calix believes that its CO₂ mitigation technology is the lowest cost solution for reducing emissions for cement and lime production. The LEILAC-2 project demonstrates the efficient separation of CO₂ in the production of lime and cement. This project was undertaken at a commercial scale at a HeidelbergCement plant in Hanover, Germany. Additionally, the project cost €23 million (A$35 million).

The project successfully delivered a design that was technically viable. It fulfilled the operational objectives of the overall plant and posed low integration risks. Additionally, it was within the required ±30% cost estimate of the budget.

The pre-FEED was assessed by a full General Assembling of the LEILAC-2 Project consortium. This included key cement industry representatives such as HeidelbergCement, Cemex, and Cimpor, and lime representatives such as Lhoist. 

The company said that the project will now enter full Front-End-Engineering and Design. This is in preparation for a final investment decision by early 2022.

This represents another key milestone for the commercialisation of its CO₂ mitigation product in the European market. 

Calix has previously highlighted a number of tailwinds for its CO₂ mitigation product in its half-year results including: 

• 2018 – EU ratifies phase 4 of the Emissions Trading Scheme. CO2 permit price jumps from €5 to over € 25, where it has remained
• 2019 – HeidelbergCement pledges net zero CO2 by 2050, and a 30% reduction by 2030
• 2020 – EU legislates net zero CO2 by 2050. Several countries follow

Comments from the CEO 

Calix CEO and MD Phil Hodges commented on the agreement and increasing interest in the company’s technology:

We have seen a significant increase in inbound enquiries in Calix technology driven by the rapidly increasing interest in Environment, Social and Governance, from countries, companies and investors. This important project is a world-first in ambition to produce zero-emissions lime, one of the most important industrial products globally, and it is great to be developing this in partnership with Adbri, in an Australian project, with Australian technology.

Calix executes an agreement to c0-develop lime production 

Coinciding with the successful milestone, Calix announced a Heads of Agreement with Adbri Ltd (ASX: ABC) to co-develop a Calix calciner for lime production with CO₂ capture.

The agreement outlines the intent of the parties to commence feasibility work on the project. This will cover lime production of around 30kTpa including demonstration of 20kTpa CO₂ capture. 

The production of lime currently emits roughly 1 tonne of CO₂ per 1 tonne of lime produced. Additionally, the company highlights that lime is used extensively in producing a variety of core materials including steel, aluminium, rare earth, and gold. Thus, it is a significant contributor to a producer’s carbon footprints.

More reading

• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• These were the best performers on the ASX 200 last week
• How are ASX 200 shares faring in the carbon revolution?
• Why the Calix (ASX:CXL) share price is down today

Motley Fool contributor Kerry Sun 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 Digital Wine Ventures Ltd (ASX: DW8) share price is surging today after the company ended a trading halt with news its platform WINEDEPOT has partnered with a leading beverage distributor.

Digital Wine says the partnership with Bibendum Wine Co. will introduce WINEDEPOT to thousands of trade buyers. The company also announced that it would roll out its own delivery fleet.

The Digital Wine share price hit an intraday high of 19 cents this morning, up 31%. At the time of writing, shares are 27.5% higher, trading at 18.5 cents.

Let’s have a closer look at today’s news.

Bibendum and WINEDEPOT

The partnership between the two beverage suppliers means WINEDEPOT will stock a large part of Bibendum’s portfolio. 

Bibendum represents 160 local and international wine producers and craft spirits. It will invite its customers to join the WINEDEPOT platform, offering a $250 voucher as an incentive. The voucher will have minimum spend restrictions and will have to be used within a time frame.

The companies will also link their IT systems so WINEDEPOT customer accounts can be opened easily. The integration of IT will delay the partnership until late April. However, Digital Wine CEO Dean Taylor believes a faster uptake will offset any delay.

In return for its partnership with WINEDEPOT, Bibendum will have access to WINEDEPOT’s logistics service, as well as a particularly large incentive: Should the partnership fulfil a number of achievements within 2 years, Bibendum will receive 20 million shares in Digital Wine.

These include Bibendum listing more than 280 products on WINEDEPOT and sending at least 4000 WINEDEPOT referral vouchers – of which at least 800 must be activated, thereby generating at least $800,000 in sales.

WINEDEPOT delivery fleet

Digital Wine also announced a partnership between WINEDEPOT and Direct Couriers.

The two companies will develop a dedicated WINEDEPOT delivery fleet for commercial customers. Deliveries will be dedicated to metro areas, allowing customers fast access to orders regardless of freight congestion.

Commentary from management

CEO Dean Taylor is excited about the potential the partnership with Bibendum has to fast-track WINEDEPOT’s uptake.

Bibendum are without a doubt one of the most successful wholesale beverage businesses in Australia. You only need to look at the calibre of brands in their portfolio or speak with any major wine buyer to get a gauge on their position within the industry.

This partnership allows us to leverage Bibendum’s unique product range, highly experienced sales force, long-term customer relationships and revered presence within the industry to drive rapid awareness of the benefits that our marketplace provides to trade buyers.

Bibendum founder and owner Robert Walters also welcomed the partnership.

I honestly believe that the wine and beverage trade has been crying out for an integrated trading, logistics and payment solution like WINEDEPOT market.

To play a key part in the launch of this revolutionary platform is exciting. It offers the potential of allowing us to service our client base at an even higher level, and this is one of the keys to our involvement.

Digital Wine Venture share price 

The Digital Wine share price has had a remarkable year so far, and today’s news has brought only the latest boost.

On Friday, the company announced that WINEDEPOT had partnered with eBay Inc (NASDAQ: EBAY), which saw its share price soar 27% by the close of trade.

With today’s gain included, the Digital Wine share price is up 375% year to date. It is also up a huge 1800% over the last 12 months.

The company boasts a market capitalisation of around $241 million, with approximately 1.6 billion shares outstanding.

More reading

• Why AGL, Digital Wine, REA Group, & Xero shares are charging higher
• Why the Digital Wine (ASX:DW8) share price is on ice
• How eBay has sent the Digital Wine (ASX:DW8) share price up 50%
• Why the Digital Wine (ASX:DW8) share price is up an astonishing 18%

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. recommends eBay. 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 Digital Wine (ASX:DW8) share price has surged 31% today appeared first on The Motley Fool Australia.

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