The S&P/ASX 200 Index (ASX: XJO) is having a pleasant day of mild gains so far this Thursday. At the time of writing, the ASX 200 is up a mild 0.37% at around 7,597 points. So it might come as a nice surprise for investors in Brambles Limited (ASX: BXB) to find their company’s share price is doing far better.

At the time of writing, Brambles shares are up a very pleasing 7.09% at $10.73. This decisive move upwards is almost enough to erase the packaging company’s dreary year-to-date performance.

So what’s behind Brambles’ move to the upside today?

Brambles share price rises after quarterly trading update

Well, it appears to be a response to the company’s quarterly trading update released to investors this morning before the ASX market open. This update covers the first nine months of the 2022 financial year. That’s 1 July 2021 to 31 March 2022. So let’s see what Brambles had to show for these nine months.

To kick things off, the company reported that it has received US$4,067 million in sales revenue for the period. That represents a 7% increase on the prior corresponding period, or 8% at constant foreign exchange rates. According to Brambles, this increase “reflected ongoing strong price realisation to recover cost-to-serve increases in all regions, including sustained high levels of input cost inflation and increased capital cost of pallets”.

The Americas was Brambles’ strongest-performing segment over the nine months, recording a sales revenue increase of 11%. The Europe, Middle East and Africa (EMEA) segment was next with a 6% increase. Asia-Pacific recorded a 5% rise.

But perhaps most pleasingly for investors, Brambles also used these numbers to upgrade its earnings guidance for the full 2022 financial year. For the 12 months to 30 June 2022, Brambles is now expecting sales growth of 8-9% (up from 6-8%). It’s also anticipating underlying profit growth of 6-7% (up from 2-5%). Finally, free cash flow after dividends at a net outflow of US$300-$350 million (down from approximately US$350 million).

CEO upbeat on new numbers

Here’s some of what Brambles CEO Graham Chipcase had to say on these numbers:

Strong sales revenue momentum continued in the third quarter resulting in year-to-date growth of 8%. The sales performance in the third quarter was driven by pricing actions in response to operating cost inflation, pallet scarcity and increased pallet costs driven by extraordinary lumber inflation…

Despite all these headwinds, the success of pricing and business efficiency initiatives supports the upgrade of our FY22 guidance for sales, earnings and Free Cash Flow after dividends. This upgrade reflects our focus on recovering the increased cost-to-serve and generating appropriate returns on the capital investments needed to service our customers and support future growth…

Together with our asset efficiency and sustainability initiatives, we are confident the investments being made to transform our business will deliver a step change in customer value creation, profitability and cash flow generation over the medium term.

Brambles share price recap

Brambles has a market capitalisation of $15.4 billion and a current dividend yield of 2.74%.

The post Here’s why the Brambles share price is soaring 7% 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 Bruce Jackson.

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The AGL Energy Limited (ASX: AGL) share price is bouncing back on Thursday as experts offer their two cents on the latest failure at Loy Yang A.

The company updated the market on a fault at the coal-fired power station yesterday.

The cause of the issue – said to be an electrical fault – is still under investigation. However, the company has warned it could see Loy Yang A – which supplies 30% of Victoria’s electricity – operating one generator down until August and AGL facing a bill.

Experts also reportedly believe the outage could throw a spanner into the works of the company’s demerger plans.

At the time of writing, the AGL share price is $8.71, 2.23% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also in the green on Thursday, up 0.28% at the time of writing.

Let’s take a closer look at why experts are particularly worried about the outage at the coal-fired power station.

Experts concerned by Loy Yang A outage

The AGL share price is in the green amid reports experts are concerned about the fallout that might come from Loy Yang A’s second failure in three years.

As long-term market watchers might remember, a unit at Loy Yang A faulted back in 2019.

That fault saw it shut down for seven months and ultimately cost the company $105 million. That expense was later reimbursed through insurance.

However, Morgan Stanley analyst Rob Koh is warning the outage might not have such a silver lining this time around. Koh was quoted by the Australian Financial Review as saying:

AGL recovered those losses from business interruption insurance, however AGL is now self-insured.

We view a repeat of this scenario as a worst case.

Meanwhile, Barrenjoey downgraded the company’s stock to ‘underweight’, slapping it with an $8.02 price target, in the wake of the outage, reports The Australian.

The broker also reportedly believes the outage could bring a $70 million – or $20 million to $30 million per month – hit to AGL’s earnings.

It’s also said to think the outage could see the company being forced to buy energy from the pool. That could cost it between approximately $115 and $138 per megawatt-hour over the coming months.

The publication quoted Barrenjoey analyst Dale Koenders as saying:

We see potential for material recovery of earnings in [financial year 2024/financial year 2025], when current higher electricity prices likely pass through the [one to three year] rolling hedge program – assuming Loy Yang A returns to service.

But Loy Yang adds to uncertainty around demerger (dyssynergies, transfer pricing, funding, guidance, etc), which we think needs to be resolved before investors consider whether to pay for these future earnings.

Owners of AGL shares are expected to get the chance to vote on the demerger in July. If agreed upon, the split should occur shortly after.

AGL share price snapshot

This year has been a good one so far for the AGL share price.

Right now, the energy producer and retailer’s stock is 38% higher than it was at the start of the year. Though, it’s slipped 4% over the last 12 months.

The post Own AGL shares? Experts weigh in on outage fallout appeared first on The Motley Fool Australia.

More reading

• Why AGL, Hub24, Rio Tinto, and Zip shares are dropping
• Faults and financials: Why is the AGL share price getting zapped 6% today?
• ASX 200 midday update: Ramsay rockets and Rio Tinto disappoints
• Why is the AGL share price having such a stellar start to the week?
• AGL share price in the green amid ‘virtual battery’ deal

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 Bruce Jackson.

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Shares in Evolution Mining Ltd (ASX: EVN) are trading down today and are now 4% in the red. At the time of writing, the Evolution Mining share price is resting at $4.40 apiece.

Despite announcing its quarterly results, and in addition, a “thick basement gold intersection” at its Cue joint venture (JV) with Musgrave Minerals Ltd (ASX: MGV), investors are selling off Evolution Mining shares today.

Evolution Mining reduces costs, bumps gold production

Highlights for the quarter include:

• All-in Sustaining Cost (AISC) reduced by 27% from the prior quarter to $990 per ounce (US$717/oz)
• Operating mine cash flow of $268.9 million, up 33% on the prior quarter
• Net mine cash flow increased by 135% to $124.5 million after mine capital investment of $143.6 million
• Gold production of 148,787 ounces
• Returned $54.9 million to shareholders via 18th consecutive dividend
• No change to sector leading AISC guidance ($1,135 – $1,195 per ounce) or capital guidance

What else happened this quarter?

Gold production for the quarter was 148,787 ounces, up from 148,048oz the previous quarter. Production was realised on a “sector leading AISC of $990/oz”, down 27%.

It also printed mine operating cash flow of $268.9 million during the quarter, a record for the company.

Whereas the company had a mine capital investment of $143.6 million, with most of this allocated to the Cowal Underground and Red Lake.

Evolution says it had cash in the bank of $537.8 million and net debt of $1,295 million when exiting the quarter.

The company also affirmed its guidance at Cowal, ensuring that 25% of its workforce were Covid-positive at one point during the quarter.

Production is expected to be around 650,000 ounces, revised down from previous guidance of 670,000oz, due to “the extreme rainfall events and COVID-19 impacts”.

What else did Evolution Mining announce today?

The company reported more assay results from its diamond and aircore drilling programs at the on the Cue JV. The project is located in Western Australia’s Murchison district.

It was started alongside Musgrave Minerals back in 2019, as an exploration agreement to cover large areas of Lake Austin and surrounds.

According to Evolution, it can earn a 75% interest in the JV area, if it were to solely fund $18 million on exploration over a 5 year term.

From its latest assay results, the company has added to its dataset compiled from previous drilling.

“Diamond drilling continues to intersect potential ore grade intersections over wide thicknesses in basement rocks at the West Island Prospect,” the company advised.

“[Whereas] aircore drilling results continue to extend the large regolith gold mineralisation footprint at the West Island Prospect and identify new zones for follow-up basement drill testing,” it added.

In the last 12 months the Evolution mining share price has fallen 7% into the red.

The post Why is the Evolution share price sinking 4% today? appeared first on The Motley Fool Australia.

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Shares in QBE Insurance Group Ltd (ASX: QBE) are trading at $12.26 apiece, up 1.49% on Thursday.

After some fairly widely-dispersed pricing, QBE stock has managed to thrust itself off a low of $10.08 in March and race higher to its current levels.

Analysts are constructive on the company and reckon it’s well-positioned to benefit from a slew of macro catalysts. Let’s take a look.

QBE share price to benefit from macro tailwinds

Analysts at UBS have chimed in on the investment debate for QBE in a recent note to clients. They note the insurer is benefitting from a number of industry-specific and macroeconomic tailwinds, making it the preferred insurance share for UBS.

Writing to clients, UBS analyst Scott Russell said factors such as stronger crop pricing are feeding additional income to QBE via gross written premiums from crop insurance customers.

Not only that, but rising bond yields have the potential to send QBE shares higher, he says.

Meanwhile, analysts at JP Morgan have tied QBE’s outlook to recent events in the bond markets and a strengthening phase in the insurance cycle.

“As a global commercial insurer, QBE is subject to the vagaries of the insurance cycle and volatile natural catastrophes,” the broker wrote.

“Trends in the cycle are currently improving, and there could be further upside from premium rates, providing a tailwind for earnings growth, with investment yields a headwind.”

UBS and JP Morgan each rate QBE as a buy. They value QBE at a price of $15 and $15.50 per share respectively.

Meanwhile, Bloomberg Intelligence analyst Matt Ingram reckons market sentiment has improved for QBE based on its improved climate-risk outlook and its ‘brilliant basics’ program.

He says this could reflect “consensus fiscal 2023 profit that’s more than double mean earnings for the last decade”.

“The higher earnings reflect underwriting and efficiency improvements thanks to the firm’s “brilliant basics” program and better risk selection in the U.S. and European businesses,” he wrote earlier this month.

“The 1.3x price/book ratio represents a 25% discount to IAG, the tightest it has been since 2011, reflecting IAG’s climate-related costs and QBE’s optimism. It remains more expensive than Suncorp despite the latter’s superior profitability,” he added.

What’s the consensus on QBE?

QBE has a consensus valuation of $14.41 per share, according to Bloomberg data. About 91% of analysts covering it rate it a buy right now.

In the past 12 months, the QBE share price has climbed 26%. It is also 9% higher this past month.

The post QBE share price riding on these 3 ‘macro tailwinds’, analysts say appeared first on The Motley Fool Australia.

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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. 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 owns and has recommended Insurance Australia Group 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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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.

Netflix (NASDAQ: NFLX) stock plunged in dramatic fashion on Wednesday, losing roughly a third of its value overnight. The catalyst that had investors running for the exits was news that the streaming pioneer actually lost subscribers during the first quarter, something that hasn’t happened in more than 10 years.

Factoring in today’s decline, Netflix is down more than 67% since November. Given its spectacular fall from grace, is Netflix stock a buy?

It’s complicated

Like so many things, the answer isn’t the same for every investor, but there are a number of factors that suggest Netflix still has plenty of growth ahead.

Management estimates password-sharing is taking place in more than 100 million households. While Netflix doesn’t mind this within families, it plans to crack down on friends and exes, introducing paid-sharing plans. Additionally, recent supply chain issues have slowed adoption of smart TVs, which is temporarily weighing on subscriber growth.

Netflix plans to continue its focus on quality programming, with recent hits like Squid Game, Bridgerton, Inventing Anna, and The Adam Project as examples, as well as expanding its personalized local-language content to continue growing its international audience.

CFO Spencer Neumann cited several macro factors, including the war in Eastern Europe, inflation, and seasonality, as the biggest contributors to churn, though these issues should abate over time. Furthermore, Netflix shed 700,000 customers when it withdrew its service from Russia. If not for that, it would have added 500,000 subscribers.

One of the biggest revelations is that Netflix is, at long last, considering a lower-cost, ad-supported tier. Co-CEO Reed Hastings has long balked at the idea, but has had a change of heart, as evidenced by his comments during the company’s conference call to discuss the results:

One way to increase the price spread is advertising on low-end plans and to have lower prices with advertising. … I’ve been against the complexity of advertising and a big fan of the simplicity of subscription. But as much I’m a fan of that, I’m a bigger fan of consumer choice.

The bottom line? There’s no question the streaming pioneer will need to make some adjustments to its business and that won’t happen overnight. But given the levers the company can pull to reaccelerate its growth and its success at reinventing itself over the years, I believe Netflix stock is a buy. 

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

The post Is Netflix Stock a buy after its spectacular fall from grace? appeared first on The Motley Fool Australia.

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Daniel Vena owns Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Netflix. The Motley Fool Australia has recommended Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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The BHP Group Ltd (ASX: BHP) share price has come under pressure on Thursday.

At the time of writing, the mining giant’s shares are down almost 3% to $50.86.

Despite this, the BHP share price is still up by a sizeable 20% since the start of the year.

Why is the BHP share price falling today?

Investors have been selling down the BHP share price today in response to the release of the Big Australian’s third quarter operational update.

That update revealed that many of BHP’s operations have been impacted by temporary labour constraints due to COVID-19. This led to the mining giant reporting softer than expected quarterly production and forced a downgrade to its guidance for some commodities.

In case you missed it, BHP reported:

• Iron ore production was flat quarter on quarter at 59.7Mt
• Copper production up 1% to 369.7kt
• Nickel production down 13% to 18.7kt
• Metallurgical coal production up 20% to 10.6Mt
• Energy coal production down 13% to 2.6Mt
• Petroleum production dropped 6% to 24.1 MMboe

How does this compare to expectations?

According to a note out of Goldman Sachs, its analysts were expecting a much better performance from BHP.

It had pencilled iron ore shipments of 67.2Mt, copper production of 413kt, petroleum production of 25.7 MMboe, and metallurgical coal production of 9.4Mt. The latter was beaten comprehensively, which is a positive given the sky high prices the steel making ingredient is commanding.

What else?

Also weighing on the BHP share price was management’s outlook.

Although it has reaffirmed its FY 2022 production guidance for iron ore, metallurgical coal, and energy coal, it has lowered its copper and nickel production guidance.

BHP’s full year total copper production guidance has been lowered to between 1,570 and 1,620 kt, reflecting lowered production guidance for Escondida. Whereas its full year nickel production guidance has been lowered to between 80 and 85 kt due to COVID-19 related labour constraints.

Positively, management reaffirmed its full year unit cost guidance for WAIO, Escondida, and Queensland Coal. And while it has increased its guidance for New South Wales Energy Coal, this reflects a targeted increase in the proportion of higher quality coal. This is so BHP can capture more value from the record high prices for higher quality thermal coal.

The post Here’s why the BHP share price is tumbling lower today appeared first on The Motley Fool Australia.

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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 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 outlook for Qantas Airways Limited (ASX: QAN) shares seems to have improved, with investors driving the airline’s share price 9% higher over the past month.

Today, the Qantas share price has climbed 3.13% to $5.60 amid strengthening conditions in the travel industry and a winding back of global pandemic restrictions, sources say.

Qantas better positioned to fly high once again

In recent months, there’s been a slew of macro catalysts weighing on global airline stocks, not least the extension of global pandemic restrictions. More recently, oil shocks have been a headwind.

However, airline stocks, including the Qantas share price, have rallied as oil prices begin to level off and global travel pathways remove COVID-19 mandates.

“Asian airline stocks follow their overseas peers higher after oil prices fell and most major US carriers dropped their mask requirements for domestic and some international flights,” Bloomberg reported today.

Not only that, but Qantas’ financial health appears to have improved as well, according to the credit rating agency Moody’s.

The agency recently affirmed Qantas’ long-term credit ratings and changed its outlook to ‘stable’ from ‘negative’ after two years, in a vote of confidence for the airline.

“Qantas is well-positioned to restore its credit profile over the next 12 to 18 months…The stable outlook reflects the rating agency’s expectation that Qantas’ leverage will revert to and be maintained within the range set for its rating,” Moody’s commented.

The significant reduction in leverage will arise as “domestic capacity increases” during 2023 to more than 100% of its pre-pandemic levels, Moody’s said.

Qantas share price snapshot

Qantas shares have soared since mid-April, when a loosening of pandemic restrictions specifically relating to travel began to make its way around the globe.

As such, shares are up 10% in the past week, and four-week trading volume has crept up to more than 6.3 million shares on average.

In the last 12 months, the Qantas share price has gained almost 12%.

The post Qantas share price climbs 3% as international travel garners speed appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning streak. The benchmark index is currently up 0.2% to 7,582.1 points.

Here’s what is happening on the ASX 200 today:

BHP third quarter update disappoints

The BHP Group Ltd (ASX: BHP) share price is trading lower following the release of the mining giant’s third quarter update. That update revealed that COVID-19 related disruptions have been weighing on its operations. And while the Big Australian has reaffirmed most of its production and unit cost guidance for FY 2022, it was forced to make some downgrades.

Zip Q3 update

The Zip Co Ltd (ASX: ZIP) share price is edging higher today following the release of the buy now pay later provider’s third quarter update. Zip’s update was a bit of a mixed bag. Although it delivered solid top line growth, this was still a touch slower than the market expected. Furthermore, while Zip reported an improvement in its cash margin, it also revealed the worsening of credit losses.

Megaport share price crashes

The Megaport Ltd (ASX: MP1) share price is crashing today after the network as a service provider’s third quarter update disappointed the market. Megaport reported only modest third quarter on quarter revenue growth of 5% to $27.9 million. This appears to have left the company with an uphill struggle to achieve the market’s full year expectations.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Challenger Ltd (ASX: CGF) share price with an 8%. This follows the release of the annuities company’s third quarter update. Going the other way, the Megaport share price is the worst performer with a disappointing 17% decline.

The post ASX 200 midday update: BHP, Megaport, and Zip release Q3 updates appeared first on The Motley Fool Australia.

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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. owns and has recommended MEGAPORT FPO and ZIPCOLTD FPO. The Motley Fool Australia has recommended Challenger Limited and MEGAPORT FPO. 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 Australian Foundation Investment Co. Ltd (ASX: AFI) share price, or AFIC for short, has kicked off this Thursday’s trading session with a loss thus far. AFIC shares are currently down by 0.12% at the time of writing at $8.31 a share. That stands in contrast to the S&P/ASX 200 Index (ASX: XJO), which has recorded a modest gain of 0.2% so far today. 

But as a Listed Investment Company (LIC), AFIC’s share price is only one of the metrics new and existing investors have to weigh up. That’s because a LIC is one of the few ASX investment options that can transparently trade at a different price than what the shares are actually worth. A LIC is essentially a company that only invests in other companies. Thus, like many ASX investors, AFIC has a portfolio of shares of its own. This portfolio is managed by the company for the benefit of all shareholders.

Conveniently, AFIC tells us what the value of its share portfolio is every month, down to the cents. That means ASX investors can easily work out how much AFIC shares are really worth. And this metric is often quite different to its actual share price. Thus, if AFIC shares are being priced above what its portfolio is worth, we can say that AFIC is trading at a premium. The opposite is true if the portfolio is being undervalued by the market, and AFIC shares are trading at a discount.

Are AFIC shares at a discount right now?

So what’s going on right now with AFIC’s valuation? Are the shares trading at a premium or a discount to what they are really worth on paper?

Earlier this month, AFIC released its updated net tangible asset (NTA) backing as of 31 March. This is essentially how valuable the company’s underlying share portfolio is on a per share basis. AFIC told us that, as of 31 March, its share portfolio was worth a value of $7.43 per share. That was up substantially from the $7.04 per share that the company recorded on 28 February.

It is also, however, substantially below AFIC’s current share price of $8.28. That means that AFIC shares are decisively trading at a premium to their underlying NTA value right now. Specifically, that premium is worth around 11.84%. So no discount today.

In fact, the last time AFIC shares were trading below their NTA value was back in 2019. So it’s been a while since investors could buy AFIC shares for a discount to their NTA.

At the current AFIC share price, this ASX LIC has a market capitalisation of $10.23 billion, with a dividend yield of 2.9%.

The post Do AFIC shares trade at a discount right now? appeared first on The Motley Fool Australia.

More reading

• How is AFIC different from an ASX 200 ETF?
• Why has the AFIC share price leapt 5% in 4 weeks?
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• Which ASX 200 shares is AFIC (ASX:AFI) betting on to make money?

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 Bruce Jackson.

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ASX mining share OzAurum Resources Ltd (ASX: OZM) is shooting the lights out today, rocketing 135% and currently trading at 24 cents. In earlier trade, the shares surged 145% to 24.5 cents. By comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.17% at the time of writing.

Let’s take a look at what’s driving today’s share price movement for OzAurum Resources.

Gold discovery

OzAurum advised the market it has made a gold discovery at the Mulgabbie North Project near Kalgoorlie in Western Australia.

Reverse circulation drilling intersected a “significant wide zone” of gold mineralisation within the Demag Zone.

At drill hole MNORC 177, 1.31 grams per tonne (g/t) of gold was intersected over 56 metres. This included 18m at 2.07 g/t.

Commenting on the results, CEO and managing director Andrew Pumphrey said:

The new virgin gold discovery at the Mulgabbie North Demag Zone has intersected significant gold mineralisation in a number of RC drill holes.

These excellent results further validates the potential of the Mulgabbie North Gold Project to be a significant gold discovery situated right alongside the Northern Star Carosue Dam Mil.

Other highlights included:

• 26m at 1.79 g/t of gold from 136m at drill hole MNORC 176
• 28m at 1.79 g/t of gold from 72m at MNORC 174
• 11m at 1.9 g/t of gold from 49m at MNORC 180
• 11m at 1.13 g/t of gold from 103m at MNORC 178.

OzAurum is planning follow-up drilling and testing at the site.

Share price snapshot

The OzAurum Resources share price has rocketed 30% in the past 12 months and is up 80% this year to date. In contrast, the ASX 200 has returned about 8% in the past year.

This ASX mining share has a market capitalisation of about $12 million.

The post This ASX mining share just rocketed 135% on a major gold discovery appeared first on The Motley Fool Australia.

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

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