2022 hasn’t been the best of years for crypto investors.

Although a few top-altcoins have managed to wildly outperform.

Overall, however, the digital assets have been hit by many of the same headwinds that have pressured other risk assets, like high growth tech shares. Namely fast rising inflation numbers and soaring geopolitical uncertainty.

In fact, 17 of the top-100 cryptos by market cap are down more than 40% this calendar year.

Even the biggest players, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are in the red. Bitcoin is down 8% this year while Ethereum has lost 14%.

But those aren’t close to the worst performers.

Here are the 3 worst tokens (out of the top 100) to have bought on 1 January and held onto through today.

This crypto is down 50% in 2022

The third worst performing crypto of 2022 to date is Loopring (CRYPTO: LRC), down 50% since 1 January.

That’s despite gaining 5% over the past 24 hours to currently be worth US$1.03. At the current price, Loopring has a market cap of US$1.4 billion, making it the 75th biggest token in virtual circulation.

Loopring launched with an initial coin offering (ICO) in 2017.

So, what is Loopring?

According to CoinMarketCap, it’s an Ethereum-based cryptocurrency token, “an open protocol designed for the building of decentralised crypto exchanges… [combining] elements of centralised and decentralised cryptocurrency exchanges to create a protocol that will enjoy their unique advantages and eliminate inefficiencies.”

Loopring reached an all-time high of $3.83 on 10 November. It’s down 73% since that record.

2022’s second worst altcoin performer

Moving on, our runner up for worst crypto to own in 2022 is Algorand (CRYPTO: ALGO).

Algorand is also gaining today, up 3.5% to 80 US cents. But that still leaves the crypto’s price down a painful 54% year-to-date.

At the current price, Algorand comes in as the 30th biggest token with a total market valuation of US$5.4 billion.

Launched in June 2019, Algorand, CoinMarketCap tells us, is “a self-sustaining, decentralised, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient”.

Algorand hit its record high of US$3.28 on 21 June 2019, not long after launching. The crypto is down 75% from that high.

The worst performing crypto in 2022 is down 59%

The crypto that would have lost you the most money had you bought it on 1 January and held on through today is – drum roll please – Curve DAO Token (CRYPTO: CRV).

Like much of the crypto market today, Curve is enjoying a boost, up 4% to US$2.57. But that’s hardly enough to erase the previous losses, leaving Curve down 59% in 2022.

At the current price, Curve has a market cap of US$1.2 billion, placing it at number 90 on the top-100 list.

Curve launched in January 2020 and works in the decentralised finance (DeFi) space. According to CoinMarketCap, it’s a “decentralised exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity”.

The crypto reached an all-time high of US$60.50 on 14 August 2020. It’s now down a gut wrenching 96% from that high.

Invest with care.

The post These are the worst 3 cryptos to own in 2022, so far appeared first on The Motley Fool Australia.

More reading

• Here’s why the lithium price is in the spotlight today
• E-commerce is booming. Which ASX shares have exposure to warehouses?
• Warren Buffett just bought $4 billion of HP stock, sending the share price soaring
• ASX market beater? Here’s how Coles shares performed during March
• Why is the Andromeda share price skyrocketing 32% on Friday?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. 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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Lithium prices are a hot topic right now and the broker UBS has given its latest views on where it thinks the lithium price is going in 2022.

The share prices of many of ASX’s lithium miners have gone up over the past year.

In the last 12 months:

The Allkem Ltd (ASX: AKE) share price has risen 141%.

The Pilbara Minerals Ltd (ASX: PLS) share price has gone up 176%.

Liontown Resources Limited (ASX: LTR) has seen its share price rise by 275%.

The Mineral Resources Limited (ASX: MIN) share price has gone up by 50%.

UBS’ latest thoughts on lithium 

According to reporting by the Australian Financial Review, UBS has increased its forecast for lithium prices in 2022.

The broker said that it’s reviewing its long-term assumptions with lithium spot prices outperforming expectations. UBS noted that there are no signs of easing yet.

UBS increased spodumene expectations by 17% for 2022 to US$4,485 per tonne and its long-term price remains at US$800 per tonne.

UBS pointed out that at a price of US$4,485 per tonne, this is lower than the US$5,000 per tonne guidance that has been given by Allkem.

The broker suggested that while lithium producers may not receive the spot price for what they produce (due to fixed-price contracts), the lithium sector could move towards spot pricing.

A closer look at UBS-rated miner, Allkem 

UBS rates Allkem as a buy.

The lithium miner said that the materially higher realised pricing for lithium will result in a material lift to revenue and cash flow in the upcoming quarters.

In terms of the supply and demand, Allkem said that demand for lithium chemicals is estimated to increase rapidly, supported by “favourable government EV policies and the transition to electrification by automakers.”

The lithium miner says that the transition to carbon neutrality will help, with carbon emissions targets and penalties, government regulations and subsidies, and a growing range of electric vehicle models.

According to Allkem, the majority of supply growth from lithium chemicals is expected to come from “incumbent producers” with quality resources and technical processing expertise.

The market is estimated to remain in a supply deficit for the remainder of the decade.

Allkem notes that electric vehicle demand is forecast to increase by 63% between 2021 to 2022. Electric vehicle demand is expected to increase at a compound annual growth rate (CAGR) of 23% from 2021 to 2030.

The electric vehicle penetration rate is expected to rise from 6% to 34% between 2021 to 2030.

The post Here’s why the lithium price is in the spotlight today appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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It probably goes without saying that COVID-19 accelerated a retail renaissance. For shoppers, it means more time spent at a digital checkout, rather than a physical one. However, for ASX retailer shares, the repercussions have extended the foundation of commerce — the humble warehouse.

Yesterday, Premier Investments Limited (ASX: PMV) Retail CEO Richard Murray described industrial land as “liquid gold”. Prompting a question among investors: which ASX shares have some of that liquid gold in their hands?

These ASX property shares are loaded with land

During the summit, Murray expressed his perspective of an incredible shift toward online shopping which has bolstered the demand for e-commerce infrastructure.

This sentiment was shared by Big W managing director Pejman Okhovat, with him describing a challenging situation in Auckland, New Zealand. According to Pejman, warehouse vacancy rates in Auckland were sitting around 0.5% when he recently visited.

In the world of e-commerce, warehouses are an essential building block in the supply chain. Basically, they allow retailers to store, pick, pack, and send products efficiently.

According to Australia Post’s February 2022 edition of its Inside Australian Online Shopping e-commerce update, online shopping has continued to surge in the last year. In fact, on a year-over-year basis, e-commerce purchases increased by 16.6%.

In turn, ASX property shares with exposure to warehousing assets could be in the spotlight. These include Goodman Group (ASX: GMG), Dexus Property Group (ASX: DXS), and Mirvac Group (ASX: MGR).

How do the big dogs of property compare?

Goodman Group is the largest ASX-listed property name there is. However, it hasn’t segmented its business clearly into the different real estate segments that it operates in recently, so it is difficult to say its involvement in the industry of warehouses.

Although, we do know that the property giant is working with Amazon.com Inc (NASDAQ: AMZN) as it expands into Australia. For example, the world’s largest e-commerce company is working with Goodman to open a sorting centre in Melbourne this year. The square metreage of the new site will almost be equal to the Melbourne Cricket Ground.

Meanwhile, Dexus informed investors in its half-year presentation that its industrial portfolio is now worth $11 billion. According to the ASX share, e-commerce operators require three times the space of a regular retailer.

Likewise, Mirvac highlighted its push forward in the industrial market as it benefits from e-commerce. Though, this segment only makes up around 4% of the ASX share’s external assets and funds under management.

The post E-commerce is booming. Which ASX shares have exposure to warehouses? appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Amazon. The Motley Fool Australia has recommended Amazon and Premier Investments 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.

What happened 

HP‘s (NYSE: HPQ) share price is rising sharply this morning after investors found out that Warren Buffett’s Berkshire Hathaway recently took an 11% stake in the personal computer and printer company.

The tech stock is up by 16.3% as of 10:47 a.m. ET.

So what

Berkshire Hathaway revealed in an SEC filing yesterday that it had purchased about 121 million shares of HP. That massive purchase now makes Warren Buffett’s company the largest shareholder of HP.

The move comes on the heels of Berkshire Hathaway’s acquiring the insurance company Alleghany for $11.6 billion.

When Buffett’s company snatches up a significant portion of a company’s stock or makes an acquisition, investors often pay close attention because of Buffett’s proven track record as a successful investor.

Additionally, the fact that Berkshire bought shares of a technology company — technology being a sector that Buffett typically stayed away from for many years (before buying Apple stock about six years ago) — is likely causing additional enthusiasm from HP investors.

Now what 

It’s no surprise that HP investors are excited about this latest development. When Buffett’s Berkshire invests in a company, it often signals to other investors that buying shares of the company could be a good long-term investment strategy.

With today’s huge share price jump, HP’s stock has gained a very impressive 47% over the past six months. And with Berkshire now HP’s largest shareholder, investors are hoping that they have more to look forward to in the coming years. 

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

The post Warren Buffett just bought $4 billion of HP stock, sending the share price soaring appeared first on The Motley Fool Australia.

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Chris Neiger owns Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Apple and Berkshire Hathaway (B shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple and Berkshire Hathaway (B shares). 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 Andromeda Metals Ltd (ASX: ADN) share price is surging higher on Friday despite no news having been released by the company.

However, its enthusiastic performance might be in response to recent turbulence.

At the time of writing, the Andromeda share price is 13 cents, 31.58% higher than its previous close.

For context, the broader market is also in the green today, though, not to such a dramatic extent. Right now, the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) are both up around 0.5%.

So, what could be driving the Andromeda share price today? Let’s take a look.

What’s pushing Andromeda’s stock higher on Friday?

Andromeda’s stock is launching nearly 32% on Friday after tumbling 45% over the previous two sessions.

The halloysite-kaolin-focused producer of industrial metals released the definitive feasibility study for its Great White Kaolin Project on Wednesday.

The project was a joint venture between Andromeda and the previously ASX-listed Minotaur Exploration.

The pair merged in February, with Minotaur shareholders each receiving 1.5 shares in Andromeda for their investment.

Under its definitive feasibility study, the Great White Kaolin Project was given a valuation of $613 million and an internal rate of return of 36%.

Previously, the project’s prefeasibility study indicated a valuation of $736 million and an internal rate of return of 175%.  

On the release of the latest study on Wednesday, the Andromeda share price tumbled 33%. It ditched another 16% the following day.

Thus, today’s movements might be the market’s way of correcting the company’s valuation following the sell-off.

Andromeda share price snapshot

Today’s gains haven’t been enough to boost the industrial metals stock back into the long-term green.

Right now, the Andromeda share price is 34% lower than it was at the start of 2022. It has also fallen 57% since this time last year.

The post Why is the Andromeda share price skyrocketing 32% on Friday? appeared first on The Motley Fool Australia.

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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 S&P/ASX 200 Index (ASX: XJO) ended up having a very solid month during March, after what was an extremely volatile start to the year. Over the month just passed, the ASX 200 gained a healthy 6.4%. But how did the Coles Group Ltd (ASX: COL) share price fare?

Coles is one of the mid-tier blue-chip shares of the ASX 200. It of course owns the supermarket chain of the same name, and is the second-largest player in its market, coming runner up to Woolworths Group Ltd (ASX: WOW).

Coles is often cited as a defensive ASX share due to its consumer staples nature and strong dividend record. So let’s see how it fared over March.

Coles started the month at a share price of $17.38. Last week, the grocer finished up March trading at $17.91 a share. That’s a gain of 3.05%. Nothing to complain about of course. But also a performance worth less than half of what the ASX 200 delivered.

A caveat though. Coles paid out its interim dividend during March as well. The value of this payment left the Coles share price on 3 March when the company traded ex-dividend and hit investors’ bank accounts on 31 March. Since both of these dates fall within the month, we can add the value of this dividend (worth a yield of 1.84% on the day it was received) to those returns if we wish.

So now that March is done and dusted, what could be in store for the Coles share price going forward?

Is the Coles share price a buy today?

Well, one ASX broker who is expecting big things is Citi. As my Fool colleague James covered last week, Citi is currently bullish on Coles shares, with a “buy” rating and a 12-month share price target of $19.30.

That’s around 5.5% higher than where Coles is trading today. Citi reckons the recent federal budget will result in a boost to disposable income, which the broker is expecting will flow through to sales at Coles’ supermarkets.

No doubt shareholders will be hoping that Citi’s predictions turn out to be accurate.

At the current Coles share price of $18.29 (at the time of writing), this ASX 200 supermarket share has a market capitalisation of $24.06 billion, with a dividend yield of 3.34%

The post ASX market beater? Here’s how Coles shares performed during March appeared first on The Motley Fool Australia.

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• Are Woolworths shares worth buying for their defensive properties?
• What’s the outlook for the Woolworths share price in April?

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 owns and has recommended COLESGROUP DEF SET. 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 Boss Energy Ltd (ASX: BOE) share price is exploding today after the company released its latest capital raising update.

At the time of writing, the uranium producer’s shares are swapping hands for $2.57, up 7.98%.

In contrast, other uranium companies are also on the move on Friday. This includes Paladin Energy Ltd (ASX: PDN), up 10.63% to 88.5 cents, and Alligator Energy Ltd (ASX: AGE), up 12.64% to 10.25 cents.

It is worth noting that global uranium shares are rallying after the United Kingdom revealed its nuclear energy plans for the next two decades. As such, the British government is seeking to triple its nuclear power capacity by 2050 to reduce reliance on Russian hydrocarbons.

Boss Energy announces its share purchase plan results

The Boss Energy share price is heading north today as investors digest the positive developments surrounding the company.

In its release, Boss Energy advised that it has successfully completed its share purchase plan (SPP) underpinned by strong support.

The company raised $17.6 million, which was well over the $5 million offered to retail investors.

Due to receiving a number of overwhelming applications, Boss Energy closed the SPP early on 4 April. Originally, the SPP was due to finish at the close of business on 7 April.

The offer price of $2.15 per share represents an 11.2% discount from the last closing price and a 17% discount from the 5-day volume-weighted average price (prior to 16 March when the announcement of the offer was made). This was when the offer was announced to the market.

Boss Energy stated it will scale back applications, taking into consideration the number of shares applied for, and their current holdings.

This follows the recently successful $120 million institutional placement completed on 18 March 2022.

The proceeds of the capital raise will be used to progress a number of strategic initiatives that include the following:

• Complete front end engineering design (FEED) study
• Fund $113 million in development costs (including contingency)
• Secure long-lead time items to further de-risk development
• Restart development – post FEED and subject to COVID-19 logistic and sourcing issues
• Continue engagement with utilities for long-term contracts
• Use of equity to fund development de-risks project and retains maximum financial flexibility through commissioning and for future growth initiatives
• Continue exploration focus – substantial scope to extend life of mine (LOM) and/or increase production profile

Boss Energy share price summary

With the uranium spot price rising to unprecedented levels, the Boss Energy share price has accelerated by 98% in the past year.

The company’s shares rocketed to an all-time high of $3.08 in November, before retracing to today’s level of $2.61 per share.

Boss Energy presides a market capitalisation of roughly $880.25 million with approximately 337.26 million shares on its registry.

The post Here’s why the Boss Energy share price is rocketing 8% on Friday appeared first on The Motley Fool Australia.

More reading

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• Why are ASX uranium shares having such a stellar end to the week?
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• ‘Australia’s next uranium producer’: Why the Boss Energy (ASX:BOE) share price is halted today
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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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is charging higher. At the time of writing, the benchmark index is up 0.55% to 7,483.5 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up 11% to $2.64. This morning the uranium developer announced the completion of its share purchase plan. However, the main catalyst for its strong gain today is likely to be uranium prices hitting a decade high. This has led to a number of uranium shares surging higher on Friday.

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price is up 4.5% to $9.09. This follows the release of an earnings guidance update this morning. GrainCorp has upgraded its earnings guidance for FY 2022 thanks to significant ongoing global demand for Australian grain and oilseeds. Management also highlighted that planting conditions for the upcoming east coast Australian winter crop are favourable.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is up 1.5% to $47.80. Investors have been buying this health imaging technology company’s shares after it announced a major new contract win. According to the release, the company’s US business, Visage Imaging, has signed a $32 million, eight-year contract with Inova Health System.

Select Harvests Limited (ASX: SHV)

The Select Harvests share price is up 4.5% to $5.60. This follows the release of a market update from the almond producer this morning. That update reveals that despite facing adverse weather conditions early in the season, the company is performing in line with expectations. As a result, there is no change to its price or crop estimate. Another positive is that its sorting and packing upgrade has been completed and is operating at or above business case.

The post Why Boss Energy, GrainCorp, Pro Medicus, and Select Harvests are pushing higher appeared first on The Motley Fool Australia.

More reading

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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 Pro Medicus Ltd. The Motley Fool Australia owns and has recommended Pro Medicus Ltd. 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 utilities giant Origin Energy Ltd (ASX: ORG) are tracking lower today and trade 15 basis points down at $6.53 on last check.

As global energy markets heat up amid European conflict and commodity inflation, shares of Origin have soared 25% higher this year. That’s brought 12-month gains to 37% – 15 percentage points ahead of the sector.

Natural gas has powered higher to now trade back above US$6.35 Metric Million British thermal units (MMBtu) – a 10-year high – whilst Brent Crude still fetches US$100 per barrel after levelling down in recent weeks.

In fact, all energy markets are up by anywhere from 19% to 450% year on year, per Bloomberg data.

What does this mean for Origin going forward?

Whilst pricing strengths have certainly helped out this year to date, Origin still has to back up the story with sales and profit growth, analysts say.

Depending on who you ask, it may or may not be capable of doing so. JP Morgan upgraded its outlook on Origin shares to neutral in early March, noting a strong pullback in prices, and that “there is clearly value in energy retailing.”

“Since the release of its interim financial results on 17 February 2022, Origin’s stock price has declined 11% (versus the ASX200 at -3%),” the broker said.

“[T]he recent underperformance now means the stock price is below our price target,” it added.

We would also flag a number of potential positive catalysts including: 1) higher wholesale electricity prices potentially implying FY2023 guidance is conservative; 2) the recent approach for AGL shows corporate appeal in energy retailing; and 3) strength in LNG markets should mean improved dividends from APLNG. As a result, we are upgrading to Neutral on better valuation.

Meanwhile, analysts at Morgans downgraded its recommendation on Morgans from add to a hold yesterday.

“[Origin] shares have performed strongly and have moved past our target price,” it said, cited by the Australian.

“International energy markets are providing tailwinds for LNG contracts but some of that volatility is being imported into the domestic market where ORG potentially could be exposed.”

Meanwhile, Henik Fung, senior analyst at Bloomberg Intelligence said that “[f]ierce competition in Australia’s retail power market could hurt Origin Energy’s sales for the next two years,” in a recent note.

As a result, “Origin Energy’s sales may remain weak in difficult power market,” it says, nothing that earnings in the retail power segment could “stay weak given the market situation”.

At its current share price of $6.53, the Origin share price is 10 cents per share above the consensus price target of $6.43, per Bloomberg data.

According to Barrenjoey – it’s not overvalued, as they reckon it’s worth $7.21. Whereas JP Morgan reckons it’s way overvalued at a $5.50 valuation.

The post The Origin share price is now overvalued, consensus says yes. What do you think? appeared first on The Motley Fool Australia.

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• High voltage! Origin (ASX:ORG) share price up 3% to new 52-week high
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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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The Capricorn Metals Ltd (ASX: CMM) share price is launching higher on early drilling results from the company’s Mt Gibson Gold Project.

Assays from 55 holes of the company’s resource definition drilling program have returned “very encouraging results”, says the company.

At the time of writing, the Capricorn Metals share price is $4.18, 6.63% higher than its previous close.

That brings the stock back into the green for this week. It previously tumbled 3.9% between last Friday’s close and the end of Thursday’s session.

Let’s take a closer look at the news boosting the gold producer’s stock on Friday.

What’s boosting the gold producer’s stock on Friday?

The Capricorn Metals share price is in the green today on news of its Mt Gibson project in Western Australia.

Assay results for 55 of the 188 holes completed at the project’s latest drilling program have found significant gold mineralisation both within and below the resource pit optimisation shells.

Additionally, high-grade mineralisation intercepts have also been identified, aligning with historic data. That provides validation of the project’s historic drill database.

A review of the results returned to date has led the company to add more extensional drilling to the drill program this quarter.

The drilling program kicked off in January. It’s aiming to infill and extend the project’s current mineral resource estimate of 2.08 million ounces of gold.

It’s also expected to underpin a maiden ore reserve estimate, which should be finished in the September quarter.

The company is also progressing other technical studies needed to complete the maiden ore reserve estimate, as well as feasibility studies.

Additionally, Capricorn Metals will push a 30,000-metre regional exploration drill program later this quarter, targeting areas including the project’s Taurus Trend and Highway prospects.

Capricorn Metals acquired the Mt Gibson Project in June 2021.  

Capricorn Metals share price snapshot

The Capricorn Metals share price has been performing well in 2022 so far.

It has gained 24% year to date. It’s also 162% higher than it was this time last year.

The post Here’s why the Capricorn Metals share price is shooting 7% higher today appeared first on The Motley Fool Australia.

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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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