The mining sector has been a great place to invest this year. Thanks to rising commodity prices, mining shares have been charging higher while other areas of the market go backwards.

The good news is that it may not be too late to invest in the sector according to Goldman Sachs.

It has been looking at the resources sector again this week and has given its verdict on a number of shares. Here are three that Goldman rates as buys:

Rio Tinto Limited (ASX: RIO)

According to the note, Goldman Sachs has a buy rating and $136.40 price target on this mining giant’s shares. Its analysts like Rio Tinto due to its strong free cash flow generation and production growth potential.

It said: “We are Buy rated on RIO discounting a long run iron ore price of US$64/t (vs. GSe long run of US$70/t real) and trading on a FCF yield of 15% in 2022E (based on our US$129/t Fe forecast for 2022). We think RIO has had a challenging March Q in the Pilbara due to equipment and labour shortages impacting 90Mtpa of iron ore replacement project tie-ins, but we believe RIO will turn the corner and return to production growth in mid-2022 on higher iron ore and copper volumes.”

South32 Ltd (ASX: S32)

South32 shares could also be in the buy zone according to Goldman Sachs. Its analysts have a conviction buy rating and $5.80 price target on the miner’s shares. The broker likes South32 due to its base metal exposure, which it expects to underpin significant earnings and free cash flow.

Goldman said: “We are Buy rated on S32.AX (on CL) with strong FCF (17% base case for FY23), exposure to base metals (75% EBITDA; aluminium & alumina c. 50% of FY23 EBITDA, copper c.10 %, zinc/nickel c. 20%), and with 7%/3% Cu Eq production growth in FY22/FY23 driven by; ~30% or c. 280ktpa increase in aluminium production from the Alumar restart & c. 17% increase in Mozal stake, creep in nickel from Cerro Matoso and lead/zinc/silver from Cannington, and the Sierra Gorda copper acquisition.”

Whitehaven Coal Ltd (ASX: WHC)

A final ASX 200 mining share that has been named as a buy is this coal miner. Goldman believes Whitehaven Coal is well-placed to benefit from very strong coal prices. The broker has a buy rating and $5.30 price target on its shares.

Its analysts commented: “The already tight global coal markets have the potential to be further impacted with the Russia-Ukraine situation putting Russian coal exports at risk based on possible sanctions and “self-sanctioning” by European & Asian utilities and steel mills, in our view. […] We remain Buy rated on WHC trading at a ~15% discount to our NAV & c. 50/20% FCF yield in FY22/FY23. WHC is a compelling de-gearing and capital returns story in our view.”

The post Goldman Sachs names 3 ASX 200 mining shares to buy today appeared first on The Motley Fool Australia.

More reading

• The South32 share price is closing in on its all-time high. Here’s why
• 2 strong ASX 200 dividend shares analysts love
• Here are the top 10 ASX mining companies by market cap
• If you’d bought $10,000 of Rio Tinto shares 5 years ago, here’s how much you’d have now
• Whitehaven share price could surge 45% if coal price remains strong: broker

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 South32 Ltd (ASX: S32) share price is continuing to trend upwards this year, buoyed by positive investor sentiment.

The mining outfit’s shares have zoomed almost 30% higher in 2022 in contrast to the benchmark index. The S&P/ASX 200 Index (ASX: XJO) has struggled to hold ground lately, lifting by less than 1% over the same timeframe.

At the time of writing, South32 shares are up 0.49%, trading at $5.135.

Let’s take a look at what could be driving these gains for South32 shares.

Rising commodity prices

Investors have been buying up South32 shares in 2022 as the aluminium price charges higher in recent times.

The war between Ukraine and Russia has pushed a general lift across the board in commodities prices, with demand outstripping supply as constraints kick in.

South32’s main export, aluminium, is currently fetching for US$3.23 per kilogram. That represents a gain of 14% since the beginning of 2022 and is 41% higher than this time last year.

Strong performance

The miner also reported strong performance across key metrics in its FY22 half-year results.

Finishing the period with net cash of US$975 million, the South32 board opted to bump up its dividend to shareholders considerably.

A fully-franked interim dividend of US 8.7 cents per share was declared, reflecting a massive 621% increase from H1 FY21.

Management noted that the latest dividend equates to a payout ratio of 40% of cash earnings, in line with its dividend policy.

With bumper returns due to the rising price of aluminium, shareholders may be expecting another strong dividend for the full year.

It is also worth noting that there is a capital management program that has been active since FY18. This returns excess capital efficiently through an on-market share buyback.

The board further expanded its capital management program by US$110 million to US$2.1 billion, leaving US$302 million to be returned by 2 September 2022.

South32 share price summary

Over the past 12 months, the South32 share price has climbed almost 80% on the back of favourable market conditions.

The company’s shares reached a record high of $5.44 in early March, within cooee of where it trades today.

Based on valuation grounds, South32 presides a market capitalisation of roughly $23.89 billion, and has approximately 4.65 billion shares on issue.

The post The South32 share price is closing in on its all-time high. Here’s why appeared first on The Motley Fool Australia.

More reading

• Goldman Sachs names 3 ASX 200 mining shares to buy today
• 2 strong ASX 200 dividend shares analysts love
• Here are the top 10 ASX mining companies by market cap
• Why is the South32 share price edging higher today?
• The S32 dividend is being paid today. Here’s what you need to know

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 Bruce Jackson.

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The Altium Limited (ASX: ALU) share price is enjoying a solid day of trading so far this Thursday. At the time of writing, Altium shares are up a healthy 1.34% at $33.19. That performance stands out against the S&P/ASX 200 Index (ASX: XJO), which is also up today, but by a far more muted 0.47%.

But this standout share price performance today doesn’t put much of a dent in the rather dismal returns Altium shares have given investors since the start of the year. Year to date in 2022 so far, the printed circuit boards software-as-a-service (SaaS) company remains down by more than 25%. That’s an unfortunate date range to be sure, since Altium actually hit its last all-time high right on new year’s eve. That high came to $45.30 a share. 

So after such a significant slide over this year so far, many investors might be debating whether Altium shares are a buy today, or whether this company is nothing but a falling knife.

Well, let’s see what one ASX broker reckons.

Altium share price: sell or buy today?

As my Fool colleague James covered last week, broker Bell Potter is one who is bullish on Altium shares at their current level. Bell Potter currently rates this ASX tech share as a buy. That comes with an elevated 12-month share price target of $41.25.

The broker reckons that the markets are interpreting the war in Ukraine as a negative for Altium, seeing as the company has a presence in Russia and research and development staff in Ukraine. However, Bell Potter notes that Russia only represents “1%-2% of Altium’s revenue”, and also highlights that the company has moved its Ukraine-based staff to Poland.

It also doesn’t expect that the recently announced strategic partnership between Altium’s competitors Cadence Design Systems and Dassault Systèmes will prove to be much of a headwind either. The broker notes that these two companies don’t really compete in the same space as Altium, so investors don’t have much to fret over.

As a result, Bell Potter is expecting strong profit growth from Altium going forward and thus sees the company as undervalued today.

If the broker’s opinion regarding the Altium share price proves accurate, it would imply a potential upside of almost 25% over the next year.

No doubt that will be music to Altium investors’ ears.

In the meantime, the current Altium share price gives this ASX 200 tech share a market capitalisation of $4.31 billion. That comes with a dividend yield of 1.27%. 

The post Altium share price: Is it an ASX buy or a falling knife? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Why are ASX 200 tech shares having such a dire day?
• ASX 200 midday update: Magellan jumps, tech shares tumble
• Broker says the Altium share price weakness is a buying opportunity
• Is Altium (ASX:ALU) building a reputation as an ASX dividend share?

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. owns and has recommended Altium. 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 Netwealth Group Ltd (ASX: NWL) share price is on course to end the week in the red.

This is despite the tech sector charging higher on Thursday.

At the time of writing, the investment platform provider’s shares are down 2.5% to $12.98.

Why is the Netwealth share price falling?

Investors have been selling down the Netwealth share price following the release of the company’s third quarter update.

For the three months ended 31 March, Netwealth reported a very modest 1.6% or $0.9 billion increase in funds under administration (FUA) to $57.6 billion.

While this is a much slower growth rate than investors have become accustomed to, it is worth highlighting that it is still a relatively positive result given the tough trading conditions it faced during the period.

For example, Netwealth reported negative market movements of $1.7 billion during the period. Take this out of the equation and its quarterly growth would have been ~4.6%, which annualises to 18.4%.

Elsewhere, the company reported quarterly funds under management (FUM) inflows of $0.5 billion, bringing its FUM to $13.8 billion, and a $3 billion year on year lift in its Managed Account balance to $11.7 billion.

Market share growth continues

Another positive, which has failed to boost the Netwealth share price, was news that the company continues to grow its market share.

The release notes that Netwealth continues to lead the industry for FUA net inflows, recording net inflows of $13 billion over the 12 months to 31 December. This led to Netwealth’s market share increase from 4.4% to 5.5% over the period.

This makes it the sixth largest provider based on market share. Though, it still trails fifth positioned Macquarie Group Ltd (ASX: MQG) by some distance. Macquarie currently has an 11.7% market share.

Outlook

Pleasingly, management appears positive on the company’s outlook, noting that its “pipeline and win rate for new business remains very strong across all market segments.”

In light of this, it remains confident the company will exceed its annual FUA inflows guidance of $13.5 billion. This is subject to the timing of client transitions and there being no deterioration in market conditions.

The post Netwealth share price falls after third quarter update disappoints appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Bank of Queensland sinks, Allkem jumps
• 7 small-cap ASX shares that have been oversold: Wilsons

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 Netwealth. The Motley Fool Australia owns and has recommended Netwealth. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AGL Energy Limited (ASX: AGL) share price is lifting today amid a new ‘virtual battery’ deal.

The energy producer and retailer has shaken on an agreement that will see it able to virtually charge and discharge Neoen’s Capital Battery. 

That will see AGL mirroring the services of a grid-scale battery for the course of the 7-year agreement.

At the time of writing, the AGL share price is $8.65, 0.93% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.43%. Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) has gained 1.04%.

Let’s take a closer look at AGL’s latest renewable energy deal.

All you need to know about AGL’s ‘virtual battery’ deal

The AGL share price is in the green amid news it will soon be able to virtually charge and discharge up to 70 megawatts of Neoen’s 100-megawatt Captial Battery.

The deal will see AGL consistently supplying the electricity grid while balancing its customer portfolio.

Construction of the battery kicked off in December. It’s expected to be up and running in the Australian Capital Territory in the first half of 2023.

AGL chief operating officer, Markus Brokhof, said the partnership will help the company’s “orderly and responsible” transition to renewable energy.

“AGL’s energy transition will be powered by innovations like this, bringing flexible capacity into the market and supporting increased investments in renewable energy, allowing us to prioritise customer supply while we make progress towards net zero,” he continued.

Neoen is a French renewable energy producer. It will soon operate grid-scale batteries in 3 out of 5 of the National Energy Market’s states.

Its deal with AGL is said to be “integral” to the development of the Capital Battery.

“Our aim is to strike a balance between meeting Australia’s current and future energy needs while transitioning in a responsible way,” said Brokhof.

AGL share price snapshot

After a disastrous 2021, the AGL share price is on the up this year.

It has gained 37% year to date. Though, it’s still nearly 8% lower than it was this time last year.

The post AGL share price in the green amid ‘virtual battery’ deal appeared first on The Motley Fool Australia.

More reading

• What was the highest ever AGL Energy share price?
• Rain or sunshine for ASX renewable shares in the March quarter?
• Could April be a good month for the AGL share price?
• Why AGL, Alliance Aviation, Woodside, and Xero shares are charging higher
• These were the 5 best performing ASX hydrogen shares of the March quarter

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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The Paladin Energy Ltd (ASX: PDN) share price has soared 19% in a week, but how high could it go?

Paladin shares have jumped 19% since the market close on 7 April. They’re currently trading at 95 cents, up 4.4%.

Let’s take a look at the outlook for Paladin Energy.

How high could the Paladin share price go?

Paladin is planning to explore uranium at the Langer Heinrich mine in Namibia. Uranium prices have helped drive up the Paladin share price recently, but two brokers think it could go higher.

Shaw and Partners recommends Paladin as a buy with a $1.30 price target, The Australian reports. This is nearly 37% more than the current share price.

Commenting on Paladin, Shaw and Partners said:

In our view Paladin is the standout in the sector on a risk-reward basis.

The pathway to production for Langer Heinrich is well-defined and low risk, underpinned by a quality resource and detailed technical work.

Meanwhile, Canaccord Genuity tips the Paladin share price to reach $1.02. This is a 7.3% upside at the time of writing. Canaccord is confident Paladin has the cash to bring Langer Heinrich to production. Paladin recently completed a $200 million capital raise to restart production at the mine.

The price of uranium is up 0.8% to $63.75 a pound, trading economics data reveals. The uranium price has exploded 113% in a year and is currently at its highest level since the Fukushima disaster in 2011.

Valuation snapshot

The Paladin Energy share price has ascended 131% in the past year. It is up 0.21% year to date.

For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) has gained 24% in a year.

Paladin has a market capitalisation of about $2.7 billion based on the current share price.

The post The Paladin Energy share price has surged 19% in a week. Here’s why these brokers are tipping more gains appeared first on The Motley Fool Australia.

More reading

• New ASX uranium share to hit boards next month and investors are already pouncing
• Paladin Energy share price leaps 10% as uranium prices surge
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why have ASX uranium shares bolted out of the gate today?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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 energy shares received plenty of attention over the quarter just past.

And for good reason.

Energy prices, as we’re sure you’re aware, have gone through the roof.

The trend commenced last year, with energy demand ramping up as the world reopened from COVID closures.

Then, with new energy supplies already struggling to keep up with increasing demand, Russia’s invasion of Ukraine put a rocket under the likes of coal, oil and gas.

Crude oil hit 13-year highs over the quarter and coal traded at all-time highs.

Those soaring prices weren’t lost on investors running their slide rules over ASX energy shares. This saw the S&P/ASX 200 Energy Index (ASX: XEJ) gain a whopping 25.1% in Q1, trouncing the 0.7% gains posted by the S&P/ASX 200 Index (ASX: XJO) over that same period.

Of course, some ASX energy shares did better than others.

Below we look at the top three performers, who also topped the Q1 leader’s board on the All Ordinaries Index (ASX: XAO).

We’ll let you pick out what they all have in common.

The second and third best ASX energy shares in Q1

Coming in at number three, Coronado Global Resources Inc (ASX: CRN) produces metallurgical coal, which is used to produce steel rather than fuel power plants. The company has a market cap of $3.8 billion and doesn’t pay a dividend.

With coal prices hitting all-time highs, the ASX energy share leapt 61% in Q1, closing on 31 March at $2 per share. Coronado is currently trading at $2.25 per share.

Moving on to the second best ASX energy share to have held throughout the March quarter we have Yancoal Australia Ltd (ASX: YAL).

Yancoal is Australia’s largest pure-play coal producer, operating and managing coal mines across the country. The company has a market cap of $6.7 billion and pays a 10.4% trailing dividend yield, unfranked.

Also benefitting from rocketing coal prices, Yancoal shares surged 71% in Q1, closing on 31 March at $4.44 per share. Today the Yancoal share price stands at $5.34.

Topping the list

The best performing ASX energy share, and also topping the list of All Ords performers for Q1, was Stanmore Resources Ltd (ASX: SMR), formerly Stanmore Coal. (See the common thread?)

Stanmore has a market cap of $1.6 billion and pays a fully franked 4.3% dividend yield.

Riding the wave of soaring coal prices, the ASX energy share closed the March quarter up 83%, at $1.74. At time of writing, the Stanmore share price stands at $1.86.

The post These were the top 3 ASX energy shares of the March quarter appeared first on The Motley Fool Australia.

More reading

• Maximise ASX share gains or invest ethically? The SUPER dilemma
• Guess which 2 ASX shares were the best and worst All Ordinaries performers of the quarter
• ASX mining shares were the leaders last quarter. Here are the top performers
• The best ASX All Ordinaries shares of the March quarter unmasked
• Why ASX coal shares are charging higher again today

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 Bank of Queensland Limited (ASX: BOQ) share price has come under significant pressure on Thursday.

In afternoon trade, the regional bank’s shares are down almost 6% to $8.04.

Why is the Bank of Queensland share price sinking?

Investors have been selling down the Bank of Queensland share price today following the release of the bank’s half year results.

For the six months ended February 28, Bank of Queensland delivered a 38% lift in statutory net profit to $212 million and a 14% increase in cash earnings to $268 million. Management advised that this was driven by lending momentum, higher non-interest income, carefully managed costs, and a loan impairment expense credit in the half.

In respect to loan growth, Bank of Queensland reported a 9% increase in housing loans to $2.6 billion and an 8% lift in business loans to $600 million.

So why are its shares falling?

Given the above, investors may be wondering why the Bank of Queensland share price is falling today.

This weakness could have been caused by the bank’s performance versus the second half of FY 2021. While it recorded solid growth compared to the prior corresponding period, this wasn’t the case over the preceding half.

Versus that period, Bank of Queensland actually reported a 9% reduction in cash earnings.

When it comes to the banks, a lot of investors focus more on the performance against the previous six months rather than a year earlier because there are less seasonal factors at play compared to other sectors. So, this result could mean investors are interpreting this result as weaker than expected.

Furthermore, a note out of Citi highlights softer than expected housing loan growth from the ME business as an area of concern. Though, the broker concedes that Bank of Queensland easily beat its first half earnings estimates despite this.

The post Bank of Queensland share price sinks 6% on half year update appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Bank of Queensland sinks, Allkem jumps
• Bank of Queensland shares in focus amid strong first half profit growth
• 5 things to watch on the ASX 200 on Thursday
• Brokers name 2 ASX dividend shares to buy
• Own Bank of Queensland shares? Here’s what to watch when the company reports this week

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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Shares in Brainchip Holdings Ltd (ASX: BRN) are inching lower today, extending losses to 13% for the month.

At the time of writing, the Brainchip share price is trading at 89.75 cents apiece, well off its 52-week high of $2.13 in January.

What’s up with the Brainchip share price?

Tech shares have been rocked in 2022 amid a shift in investor and macro-sentiment plus the emergence of new geopolitical risks in Europe.

Shares spiked back in March after a company report advising it had signed new sales partnerships with companies in Europe and Israel for its Akida platform.

Aside from that, it’s been a quiet few weeks from the tech holding company. Most of the downside can be attributed to sector weakness that’s also hurt many other ASX tech names.

The S&P/ASX All Technology Index (XTX) has slipped 19% this year to date, making it the worst performing sector on the Australian market.

As the yields on long-dated government bonds rise, and inflation data continues to suggest a costly period ahead, tech shares have fallen out of the limelight in 2022.

In the US in particular, the big FAANG stocks are no longer the darlings of the NYSE and Nasdaq.

Brainchip has suffered a similar fate in 2022. It’s stumbled off the former peak and now trades back near 2021 levels once again. Despite the reset, it is still trading 32% in the green this year to date.

However, from its previous high on 19 January, Brainchip has tanked 58%. Shareholders who bought in at that time need to see a return of more than 100% in order to reach that level again.

It’s also down 18% for the year, meaning Brainchip is now trailing the tech sector by a considerable amount, and the benchmark S&P/ASX 200 Index (ASX: XJO) by an even further distance.

The post Why has the Brainchip share price tumbled 13% in a month? appeared first on The Motley Fool Australia.

More reading

• Here’s a look at the laggards from ASX tech shares last quarter
• Compare the ASX share: An analysis of BrainChip vs Archer Materials
• Let’s get technical! 5 best All Ords tech shares of the quarter revealed
• How have ASX artificial intelligence shares been performing lately?
• Guess which ASX tech shares are leading the pack today?

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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The Latin Resources Ltd (ASX: LRS) share price has come out of a trading halt on Thursday to reach a near multi-year high.

This comes after the lithium explorer announced an update on its recent capital raise.

At the time of writing, Latin Resources shares are up 2.70% to 19 cents a pop. It’s worth noting that its shares hit an intraday high of 20.5 cents before retracing during this morning’s trade.

Latin Resources completes placement

ASX investors are buying up Latin Resources shares today as the company seeks to progress its lithium business in Brazil.

According to its release, Latin Resources has received firm commitments to raise $35 million through a share placement.

The offer was presented to institutional and sophisticated investors at an issue price of 16 cents per share.

The company highlighted that it had strong support from Canadian cornerstone investor Electrification and Decarbonization AIE LP Fund (E&D Fund). A wholly-owned subsidiary of Toronto-based Waratah Capital Advisers, the E&D Fund invested a total of $15 million.

Latin Resources will use its existing placement capacity to create new shares for the institutional and sophisticated investors. Under listing rule 7.1, this allows up to 15% of its total shares to be issued without shareholder approval (74,478,284 shares and 109,375,000 options).

The company will use an extension to the listing rule (7.1A) to issue the remaining shares (144,271,716 shares) and 11 million options associated with Waratah’s investment. However, the latter is subject to shareholder approval at a general meeting to be held late next month.

Latin Resources will primarily use the proceeds to accelerate its Bananal Valley drilling program at the Salinas Lithium Project in Brazil. In particular, the funds will be allocated to the following:

• An aggressive resource definition program for the Bananal Valley prospect within the Salinas Lithium Project
• Exploration drilling at the Monte Alto and Salinas South lithium prospects in Brazil
• A Pre-Feasibility Study, a Direct Shipping Ore Study and metallurgical test work in respect of the Cloud Nine Halloysite-Kaolin Deposit in Western Australia, as well as regional exploration at the broader Noombenberry Project area
• Initial exploration drilling at the MT-03 Copper Project in Peru
• Working capital.

What did management say?

Latin Resources managing director Chris Gale commented:

Our results at Salinas have been exceptional, revealing we have some very high-grade lithium spodumene mineralisation.

We consider that winning the support of a technical-focused group, like Waratah’s E&D fund, who are very well-versed on the lithium sector, is a big tick of approval for what we are doing and where we are headed with our Salinas Lithium Project.

What’s really exciting is the roadmap ahead for LRS shareholders. We are relatively early in the discovery phase of our Salinas Lithium Project, and we have much work ahead of us, however the level of attention we are receiving from industry players suggests we are not alone in thinking that Latin has a chance to develop a highly valuable lithium project in Brazil.

About the Latin Resources share price

Latin Resources shares have gained about 290% in value over the past 12 months. The company’s share price reached a 52-week high of 22.8 cents on 6 April.

Latin Resources presides a market capitalisation of $305.10 million with 1.64 billion shares outstanding.

The post Why is the Latin Resources share price powering ahead today? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Latin Resources share price is on ice today
• Latin Resources share price surges 11% on ‘very positive’ lithium news
• Why did this ASX lithium share soar 18% today?
• Why Eagers Automotive, Firefinch, Latin Resources, and Piedmont Lithium are rising today
• Latin Resources (ASX:LRS) share price shoots 28% higher on potential ‘major new lithium discovery’

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 Bruce Jackson.

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