It’s been a great start to the trading week for ASX shares this Monday. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has gained a healthy 0.34% and is now closing back in on 7,000 points. But it’s been even better for the Lake Resources N.L. (ASX: LKE) share price.

Lake Resources shares closed at 81 cents each last week. But the ASX 200 lithium stock opened at 84 cents this morning and is now up to 88 cents a share, a gain worth a pleasing 8.64%. Earlier today, the company rose as high as 94 cents, a whopping 16% gain at the time.

So what’s going on here to elicit such a decisive share price gain for Lake Resources?

Well, it’s not clear. Lake Resources has not come out with any fresh news or announcements today. So perhaps this move is just a continuation of the trend we have seen emerge with Lake shares in recent weeks.

Why are Lake Resources shares shooting the moon on Monday?

After a rough couple of months, the past fortnight has been incredibly kind to the Lake Resources share price. It was only as recently as 15 July that this company traded at 61 cents per share. That means that Lake shares have risen an incredible 45% or so over the past two weeks. That includes a gain worth around 30% over the past five trading days alone.

Many other ASX lithium shares have been experiencing similar moves. The Pilbara Minerals Ltd (ASX: PLS) share price is up almost 18% since 15 July. The Liontown Resources Limited (ASX: LTR) has also put on around 40% over the same period, while Core Lithium Ltd (ASX: CXO) shares have gained more than 31%.

But we also had an update from Lake shares last week that could boost sentiment. Last Friday, Lake released its quarterly results covering the three months to 30 June 2022.

As we covered then, this report contained several updates for Lake investors. These included details about the company’s discussions with Ford Motor Company, a second drilling rig at Lake’s lithium brine projects, and a declaration that production at Lake’s Kachi Project aims to commence in 2024.

Upon the release of this report, investors reacted positively, sending Lake shares up almost 4% last Friday.

So the stellar performance of the Lake share price today is likely a continuation of the trend we have seen recently, perhaps helped by the quarterly update last week.

No doubt investors will be pleased with what they are seeing today.

At the current Lake Resources share price, this ASX 200 lithium stock has a market capitalisation of $1.23 billion.

The post Why has the Lake Resources share price rocketed 16% today? appeared first on The Motley Fool Australia.

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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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ASX tech shares are broadly edging lower today, as witnessed by the 0.2% decline in S&P/ASX All Technology Index (ASX: XTX) at the time of writing.

But one ASX tech share is leaving the sliding benchmark index in the dust.

Plexure Group Ltd (ASX: PX1), which enables retailers to engage with consumers in real time using connected devices and sensors, is up a whopping 76.4% after earlier posting gains of 90%.

This comes after the company updated the market on its contract with McDonald’s Corp (NYSE: MCD) as well as updating its earnings guidance.

ASX tech share extends contract with McDonald’s

The big share price moving news out from Plexure is the announcement that it’s entered into new agreements with McDonald’s for its digital customer engagement platform.

Plexure and McDonald’s, the ASX tech share’s largest customer, have inked a new five-year contract term, which can be further extended if both parties agree.

The company will continue to provide its platform to McDonald’s and forecasts positive annual cash flow, compared to previous losses from its Plexure division. It expects to reduce its cost base while delivering operational improvements.

The ASX tech share’s digital customer engagement platform supports 147 million daily customer interactions for McDonald’s.

Commenting on the contract extension, Plexure CEO, Dan Houden said:

We are excited about our continued partnership with McDonald’s and look forward to working collaboratively toward our mutual goal of delivering excellent experiences for McDonald’s customers through our world-leading customer engagement platform.

The renegotiated commercial terms with McDonald’s represent the culmination of a major transformation of the Plexure division underway since the merger with TASK.

Houden added that with the transformation complete, Plexure can “focus on driving profitable growth by leveraging its combined technology stack to provide an end-to-end cloud engagement and transaction platform at scale for the global QSR and hospitality sector”.

The ASX tech share also is likely getting a lift today from its earnings guidance.

Plexure forecasts total revenue for the year ending 31 March 2023 of approximately NZ$56 million, up from NZ$32.6 million reported in the previous financial year.

Plexure Group share price snapshot

With today’s big boost factored in, the ASX tech share remains down 40% in 2020. That compares to a year-to-date loss of 28% posted by the All Tech Index.

The post Guess which ASX tech share is exploding 76% on a new deal with McDonalds appeared first on The Motley Fool Australia.

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More reading

• Why has the Lake Resources share price rocketed 16% today?
• United Malt share price plunges 13% on earnings downgrade
• Guess which tiny ASX mining share just rocketed 74% on an ‘outstanding’ new copper find
• Sizzle, fizzle, pop! What’s with the Sezzle share price on Monday?
• 3 things the smartest investors do when the market is crazy

Motley Fool contributor Bernd Struben 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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The United Malt Group Ltd (ASX: UMG) share price is tumbling after the company downgraded its earnings guidance for the year ending 30 September 2022 (FY22).

It now expects to post around $100 million to $108 million of underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) before software-as-a-service (SaaS) costs. That marks a 22% drop on the top end of its previous guidance.

At the time of writing, the United Malt share price is $3.18, 13.35% lower than its previous close.

Let’s take a closer look at the latest from the S&P/ASX 200 Index (ASX: XJO) commercial maltster.

United Malt share price falls on earnings downgrade

The United Malt share price is suffering on Monday following the company’s latest trading update.

Despite an expected improvement, the company’s processing segment continued to be hit with the deterioration of the North American barley crop, supply chain issues, and high energy costs in the June quarter.

The segment’s underlying EBITDA (before SaaS costs) for FY22 is now expected to be between $62 million and $66 million.

There’s better news about the company’s warehouse and distribution segment. Its underlying EBITDA guidance remains at $46 million to $50 million.

The segment is benefiting from the reopening of major markets and renewed demand for craft brewing, as well as business optimisation initiatives.

Meanwhile, the company’s corporate costs guidance has been dropped to $8 million.

It also noted its debt to EBITDA ratio will exceed its targeted range of 2 to 2.5 times in FY22. Though, it doesn’t expect to have to raise capital to reach its targeted range in FY23.

Speaking of the company’s FY23, it anticipates a “material increase” in earnings for the period.

Its underlying EBITDA (before SaaS costs) for FY23 is expected to be between approximately $140 million and $160 million.

The improvement is expected to be driven by better North American barley crops and improved pricing and commercial terms. The competition of the company’s Scottish expansion project and the implementation of its technology platform will also play a part.

What did management say?

United Malt chair Graham Bradley commented on the news dragging on the company’s share price today, saying:

The board is disappointed with the company’s current year performance and outlook. While external conditions have deteriorated dramatically during FY22 … the pace of change in the business needs a material reset to ensure we meet the expectations of our customers and of our shareholders.

Higher energy prices and supply chain issues are likely to remain challenging for the foreseeable future as will the impacts of climate … We are building a more resilient global malting business to better navigate these challenges.

The post United Malt share price plunges 13% on earnings downgrade appeared first on The Motley Fool Australia.

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• Guess which tiny ASX mining share just rocketed 74% on an ‘outstanding’ new copper find
• Sizzle, fizzle, pop! What’s with the Sezzle share price on Monday?
• 3 things the smartest investors do when the market is crazy
• Core Lithium share price surges 4% on ‘exceptional’ drill results
• When did Flight Centre shares last pay a dividend?

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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The S&P/ASX 200 Materials Index (ASX: XMJ) is leaping 1.28% today, but one ASX mining share is exploding far higher.

The Cobre Ltd (ASX: CBE) share price is currently up more than 74% to 15 cents.

Let’s take a look at why investors are buying up this mineral explorer‘s shares today.

Why is this ASX mining share lifting?

Investors are buying up Cobre shares today on the back of another significant copper intersection.

Drilling at the second diamond drill hole intersected “abundant chalcocite mineralisation” at the Ngami Copper Project in Botswana.

Cobre said the result shows mineralisation from about 55m below surface at a strike length of more than 2km.

Cobre’s share price is up 206% since market close on 26 July. On 27 July, the Cobre share price leapt 104% after it reported its first intersection of significant copper mineralisation at the site.

Commenting on today’s news, executive chairman and managing director Martin Holland said:

The Ngami Copper Project in Botswana is demonstrating exceptional promise with this outstanding
copper intersection which confirms that we are potentially sitting on a new copper discovery within the Kalahari Copper Belt.

This new intersection is 1km away from our initial diamond hole that also intersected significant copper mineralisation.

This has been a phenomenal start to our drilling program, which includes a total of 57 high-priority
targets, and is only just the beginning

The company is now working on a third diamond drill hole at the project. Cobre plans to continue drilling at the site to define copper and base metals mineralisation at the project.

Cobre share price snapshot

Cobre’s shares have leapt 477% in a month, while they have jumped 249% in the past week. In the past year, this ASX mining share has lost more than 3%.

For perspective, the S&P/ASX 200 Materials Index has lost nearly 15% in the last year.

Cobre has a market capitalisation of nearly $25 million based on its current share price.

The post Guess which tiny ASX mining share just rocketed 74% on an ‘outstanding’ new copper find appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX mining share just exploded 100% on a new discovery

Motley Fool contributor Monica O’Shea 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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The Sezzle Inc (ASX: SZL) share price has seen some volatility so far on Monday, shooting 28% higher at one point before plunging again.

Sezzle shares opened at 82 cents apiece, fetching as high as $1.05 in early morning trade before settling to their current price of 84 cents a share, up 2.44%.

The ASX buy now, pay later share has certainly been on a wild ride lately. Since the beginning of 2022, the company’s share price remains down 70%. But, since 20 July, it has gained more than 300%.

And it seems the rollercoaster is continuing despite no news being released by the company today.

However, at the end of last week, Sezzle released its quarterly update for the three months to 30 June 2022.

Quarterly recap

Sezzle said that underlying merchant sales (UMS) for the second quarter were up 1.9% year on year to US$419.1 million. Total income grew by 6.8% year on year to US$29.3 million, representing 7% of underlying merchant service. Merchant fee income represented more than 80% of total income.

As a percentage of UMS, the provision for uncollectible accounts receivable declined to 1.9%, down from 3.4% in the prior corresponding period.

Active merchants rose 19% year on year, while active consumers went up 18.2% year on year to 3.4 million.

In a sign of ongoing customer loyalty, repeat usage improved for the 42^nd consecutive month to 93.5%.

It seems the ongoing performance of the business could be buoying the Sezzle share price.

The company also outlined it has taken several actions aimed at reaping more than US$40 million in expected annualised revenue and cost savings to improve cash flow and accelerate its path to profitability.

These include:

1. Offboarded or renegotiated rates with merchants
2. Improved virtual card network revenue share
3. Workforce reduction
4. Scaled back efforts in Europe and Brazil
5. Ceased payment processing in India
6. Reduced third-party spend
7. Launched the Sezzle premium subscription product

Certainly, each of these actions could boost the bottom line and help support investor confidence.

The post Sizzle, fizzle, pop! What’s with the Sezzle share price on Monday? appeared first on The Motley Fool Australia.

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More reading

• Why IDP, PolyNovo, Sezzle, and St Barbara shares are pushing higher
• Sezzle sizzles: What is going on with this ASX buy now, pay later share?
• Sezzle share price jumps 46% on Q2 update
• Sezzle share price surges another 40% following speeding ticket response
• Sezzle share price rockets 95% before being frozen. What’s going on?

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 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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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.

With inflation running high and the global economy in disarray, it doesn’t exactly seem like a great time to be investing in stocks. After all, the market has already lost almost 14% of its value this year, and its near-term future is extremely uncertain. 

But if there’s one thing that the smartest investors know, it’s that craziness in the market isn’t an excuse to sit on the sidelines. For them, it’s a call to take calculated actions to support their portfolio‘s value in the long term. In particular, there are three things they’ll be doing right now and in the coming months to make sure they come out on top.

1. Stay cool even when favorites are down

Perhaps the most important thing that the smartest investors do that average investors often don’t is that they keep their wits about them when their positions aren’t going their way. It’s easy to say that people shouldn’t panic sell, but, when you’re faced with your hard-earned money trickling away, it’s also quite easy to get rattled. And once that happens, they tend to start thinking about selling their shares, even when it’d be at a loss, and even when the losses might go the way of the dodo with enough patience.

To make matters worse, when investors sell their shares at a loss when the market is unstable, it’s often without considering whether their investment thesis is still valid, which is also generally a poor practice.

For example, both Intuitive Surgical (NASDAQ: ISRG) and Costco Wholesale (NASDAQ: COST) have fallen this year so far, with Intuitive losing 36% and Costco dropping by 5%. But both companies are still profitable, and they’ve grown their trailing-12-month revenue by upwards of 40% over the last three years.

More importantly, neither has changed anything fundamental about their business model nor have their operations been directly impacted by the ongoing market volatility. Intuitive Surgical is still making robotic surgical systems, and Costco is still selling bulk consumer goods and groceries out of its warehouses. The same forces driving their growth before the bear market are still in play today, and smart investors know that there’s a good chance the pair will recover over time due to consistently reporting favorable earnings, just like before. 

2. Build on high-conviction positions

In keeping with this theme, another thing that the best investors do is to buy more shares of their favorite companies even when the future is uncertain. After all, if your investment thesis still holds up, why not take advantage of dips and add to your positions? 

Take Intuitive Surgical, for example. At the core of the company’s appeal to investors is that for each new da Vinci surgical suite that it installs in operating rooms worldwide, it gets a years-long stream of revenue from sales of maintenance contracts, training packages, software, spare parts, and updated surgical tools for the robots. And when its customers use their surgical suites for more procedures, they tend to need more of the services and accessories, so it also benefits from the growth of healthcare systems.

As a result of that razor-and-blade business model, around 75% of the business’s revenue was from recurring sources in 2021, a proportion that is slowly increasing over time.

Does turmoil in the market affect any element of Intuitive’s narrative? No. So, while the smartest investors would probably check whether any other important factors are eroding their investing thesis for the stock before buying more shares, they ultimately wouldn’t be shy about adding to their position here. 

3. Buy bargains or likely future winners from watch list stocks

Most skilled investors maintain a watch list of stocks they’d like to buy. Then, during volatile periods in the market, they look for opportunities to start new positions in the stocks they’re watching, either for the right price or due to positive shifting in economic phenomena. At the moment, inflation is the economic phenomenon du jour, so one thing that smart investors might be on the lookout for are businesses that stand to benefit from it.

Costco fits that bill quite well. Since the wholesaler’s reputation rests on it providing its members with the lowest-cost goods around, if consumers are feeling the pain of inflation, they’re unlikely to do much better than to keep buying its products. Furthermore, if other retailers end up hiking prices faster than Costco, it’s plausible that it’d grow at a quicker clip than normal.

Per its June sales results for this year so far, Costco’s revenue was 16.9% more than the same period in 2021, so that trend might actually be happening. In other words, if the stock were on a smart investor’s watch list, they’d likely be willing to buy some shares at a somewhat higher price than usual when bargain hunting. And in the long term, that’d help them to secure strong returns, as opposed to investors who were too spooked to move into an attractive stock at a better price than last year. 

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

The post 3 things the smartest investors do when the market is crazy appeared first on The Motley Fool Australia.

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• Core Lithium share price surges 4% on ‘exceptional’ drill results
• When did Flight Centre shares last pay a dividend?
• Why is the Westpac share price outperforming the other ASX 200 banks on Monday?
• De Grey share price lifts on ‘major gold intersection’
• Up 45% so far in 2022, is it too late to buy Woodside shares?

Alex Carchidi has positions in Costco Wholesale.  The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Costco Wholesale and Intuitive Surgical. 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. 

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

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The Core Lithium Ltd (ASX: CXO) share price is charging higher today.

Core Lithium shares closed on Friday trading for $1.16 and are currently trading for $1.20, up 3.9%.

Below, we look at the latest drill results that appear to be driving investor interest in the ASX lithium share.

What drill results were announced?

The Core Lithium share price is leaping higher after the company reported on “exceptional drilling results” at its Finniss Lithium Project, located near Darwin in the Northern Territory.

The diamond drilling results come from the explorer’s BP33 Deposit within the Finniss project. The drill campaign at BP33 kicked off in May, and the company is now beginning to receive those assays.

Among the latest results boosting the Core Lithium share price today, the explorer reported “world-class high-grade lithium intersections” with one hole returning 66.88 metres at 1.78% Li2O including:

• 16m @ 2.27% Li2O; and
• 9m @ 2.24% Li2O

Additionally, the company reported that the spodumene-bearing pegmatite extends at depth to the south, with signs that thickness and grade could improve with depth. With the miner hitting intersections outside of its current Mineral Resource at BP33, it expects to deliver “substantial” orebody extensions.

Commenting on the results, Core Lithium chairman Greg English said:

We are in the middle of our largest ever drill campaign and these latest results more than justify our decision to expand our exploration efforts.  BP33 south is open at depth with the Ambient Noise Tomography survey identifying additional targets at the deposit.

These new world-class lithium drilling results reflect the confidence Core has in delivering significant resource growth from Finniss that will add to our life of mine and our capacity to materially increase lithium production from northern Australia in the future to keep up with rapidly growing global demand.

English noted that the results come at a fortuitous time, as the company is expecting the final mining approval for BP33 within the next few weeks.

Core Lithium share price snapshot

The Core Lithium share price is up an impressive 103% in 2022 and up a whopping 336% over the past full year.

By comparison, the All Ordinaries Index (ASX: XAO) is down 9% year-to-date and down 7% over the 12 months.

The post Core Lithium share price surges 4% on ‘exceptional’ drill results appeared first on The Motley Fool Australia.

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• Core Lithium shares leapt 9% following this week’s results release, but why?
• Core Lithium share price flat after ‘progressing well’ last quarter
• Why has the Core Lithium share price surged 15% in a week?
• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today

Motley Fool contributor Bernd Struben 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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The Flight Centre Travel Group Ltd (ASX: FLT) share price is among the top performing S&P/ASX 200 Index (ASX: XJO) travel shares of 2022 so far. On top of that, Flight Centre’s most recent full-year dividend payout marked a new record for the company.

But there’s a catch. None of the ASX 200 travel majors has paid out a dividend since the onset of the COVID-19 pandemic.

At the time of writing, the Flight Centre share price is $17.13, 8% lower than at the start of 2022.

For comparison, the ASX 200 has slumped 8.5% since the beginning of this year.

Let’s take a closer look at what’s going on with the ASX 200 travel giant’s dividends.

What’s going on with Flight Centre’s dividends?

It’s been a while since the market has heard dividend-related news from ASX 200 travel shares – Flight Centre included.

The last dividend paid out by the company was its final dividend in financial year 2019. That same year, the company posted record dividends ­– offering shareholders $3.07 per share.

The record offering comprised a 60 cent interim dividend, a 98-cent final dividend, and a $1.49 special dividend.

However, its financial year 2020 interim dividend – worth 40 cents – was cancelled in March 2020. The company hasn’t released word of future payouts since.  

Webjet Limited (ASX: WEB), Qantas Airways Limited (ASX: QAN), and Corporate Travel Management Ltd (ASX: CTD) also haven’t offered new dividends since financial year 2019.

That’s perhaps unsurprising, given none of the ASX 200 travel majors have posted a full-year profit since the pandemic took hold of the globe.

But that might be about to change.

Flight Centre recently told the market it expects its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) to break even over the six months ended 30 June 2022.

Of course, that leaves the company with a fair stretch to cover before it can boast a return to profit, but it appears to be a good start.

The post When did Flight Centre shares last pay a dividend? appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• Why is the Flight Centre share price tumbling 5% today?
• Why Flight Centre, Iress, Nitro, and Perseus shares are dropping today
• ASX 200 midday update: Iress sinks on CEO exit, Flight Centre shares descend
• 5 things to watch on the ASX 200 on Tuesday

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 recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. 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 Westpac Banking Corp (ASX: WBC) share price is slightly in the red today, however, it is outperforming some other banks.

The banking giant’s shares are currently swapping hands at $21.32, a 0.88% fall. For perspective, the S&P/ASX 200 Financials Index (ASX: XFJ) is down 0.82% today. Commonwealth Bank of Australia (ASX: CBA) shares are down 1.3%, while Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares are down 1.66%. The National Australia Bank Ltd (ASX: NAB) share price is 1.65% in the red.

Let’s take a look at what is going on at Westpac.

Sale complete

Westpac has finished the sale of its life insurance business to TAL Dai-ichi Life Australia.. This deal was first announced on 9 August 2021.

The terms of the sale remain the same.

The bank is now expecting to report a total loss after tax on sale of about $1.37 billion. Of this, $0.27 billion was accounted for in the company’s 2021 results.

A loss of about $1.1 billion after tax will be recorded as a notable item in the Westpac FY22 results.

Westpac will receive ongoing payments as part of an exclusive 20-year strategic alliance for delivering life insurance to its Australian customers. The sale also adds about 17 basis points to the bank’s common equity tier 1 capital ratio.

Commenting on the sale, Wespac specialist businesses chief executive Jason Yetton said:

This sale is another important step in simplifying our business.

We have now completed Westpac’s exit of insurance underwriting following the sales of our General Insurance and Lenders Mortgage Insurance businesses in Australia, as well as Life Insurance in New Zealand.

In other news, Goldman Sachs has upgraded its price target on Westpac’s shares. Analysts have placed a $26.12 price target on the Westpac share price. As my Foolish colleague James reported this morning, Goldman emphasised “WBC’s NIM leverage to higher rates”.

Finally, Westpac is planning on delivering a four percent pay rise to staff earning up to $94,446 per year in 2023, The Australian reported. Human resources group executive Christine Parker was quoted as saying:

We know that inflation is increasing and that people are dealing with a higher cost of living.

Westpac share price snapshot

The Westpac share price has lost about 13% in the past year, while it is down 0.14% year to date.

For perspective, the S&P/ASX 200 Financials Index (ASX: XFJ) has shed more than 13% in a year.

Westpac has a market capitalisation of about $74.6 billion based on the current share price.

The post Why is the Westpac share price outperforming the other ASX 200 banks on Monday? appeared first on The Motley Fool Australia.

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More reading

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• Why this ASX investment company dumped NAB for Westpac shares

Motley Fool contributor Monica O’Shea 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 recommended Westpac Banking Corporation. 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 De Grey Mining Ltd (ASX: DEG) share price is climbing today after the company announced it’s uncovered a major gold intersection.

At the time of writing, the gold and mineral exploration company’s shares are up 3.89% to 93.5 cents.

What’s driving De Grey shares higher on Monday?

Investors are buying up De Grey shares following its latest results obtained from the Diucon prospect at Hemi in Western Australia.

According to the company’s announcement, De Grey advised it has intersected gold mineralisation from the resource step out drill hole HEDD128.

The results reported that HEDD128 intersected 359.4 metres at 1.2g/t of gold (Au) from 530 metres. This included:

• 97.1 metres at 2.6g/t Au from 580.92 metres
• 44.8 metres at 1.4g/t Au from 762.46 metres
• 67.4 metres at 1.0g/t Au from 861.74 metres

De Grey stated this represents a significant upside to the Mineral Resource Estimate (MRE) that’s been used for the prefeasibility study (PFS).

It also noted that there is potential to extend mineralisation along strike and down plunge to the southwest of Hemi. This could lead to the discovery of significant zones of hidden intrusion-hosted mineralisation where there’s an abundance of near-surface gold.

De Grey general manager of exploration Phil Tornatora said:

This new intercept has something for everyone; 200 metre depth extension to the May Resource, intrusion true width increasing to approximately 300 metres, open at depth and down plunge, with increased large scale open pit, large scale underground and selective high grade underground mining potential.

De Grey share price snapshot

Since April 2022, the De Grey share price has fallen on hard times amid a backdrop of deteriorating gold prices.

Its shares are down 35% from their recent high of $1.385 on 19 April.

Just last month, De Grey shares hit a 52-week low of 72.5 cents before volatility on the market began to settle.

De Grey commands a market capitalisation of about $1.34 billion.

The post De Grey share price lifts on ‘major gold intersection’ appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today

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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