The Dusk Group Ltd (ASX: DSK) share price is treading lower during early Thursday afternoon trading. This comes after the company provided an update in regards to its acquisition agreement with Eroma Group.

At the time of writing, the specialty retailer’s shares are down 2.26% to $2.60 apiece.

Dusk share price falls as company walks away from Eroma deal

ASX investors are dragging the Dusk share price lower today following the company’s latest market release.

In its announcement, Dusk advised that it will not be proceeding with the conditional agreement to purchase 100% of Eroma.

In December 2021, Dusk announced it would take over Australia’s leading supplier of candle making materials for $28 million.

Dusk stated that the total acquisition consideration would be funded through three separate sources. This included $10 million from a new debt facility, a $13 million placement, and $7 million from existing cash reserves.

However, today the company said the deal did not meet “certain conditions”. As a result, Dusk has terminated the agreement.

In a statement, Dusk management said:

The acquisition agreement was, consistent with market practice, subject to certain conditions precedent to Completion. Satisfaction of all of the conditions has not been achieved. As such, dusk will not be proceeding with the acquisition of Eroma.

The statement did not reveal any specific details as to the conditions not met.

What else is happening with Dusk?

Late last month, Dusk delivered its FY22 half-year results, which lead to its share price slipping 4.25% on the day.

Dusk reported a 12% decline in total sales to $80 million. It attributed the poor performance to government-mandated store closures. The number of store trading days was reduced by about 24% (5,483 trading days lost) in NSW, Victoria, and the ACT.

On a positive note, online sales increased by 2.8% over the prior corresponding period to $7.7 million. This growing segment accounted for 9.7% of total sales.

Dusk declared a 10 cents per share fully franked interim dividend, which based on today’s share price represents a yield of 3.85%. The shares will go ex-dividend on 11 March.

Dusk share price snapshot

It has been a disappointing 12 months for Dusk investors, with the share price falling by 13% for the period. When looking at year to date, the Dusk share price has fared worse and is down about 19%.

This is a sharp contrast from September 2021 when Dusk shares touched an all-time high of $4.07. Since then, the shares have been gradually sloping on a downhill channel.

Based on today’s share price, Dusk commands a market capitalisation of $165.63 million. There are approximately 62 million shares outstanding.

The post Here’s why the Dusk (ASX:DSK) share price is flaming out today appeared first on The Motley Fool Australia.

More reading

• Dusk (ASX:DSK) share price slumps as revenues plunge 12%

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 recommended Dusk 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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ASX retail shares have had a rough ride in 2022 so far – with Kogan.com Ltd (ASX: KGN) coming in as one of the worst performers.

The Kogan share price has slumped 31% year to date.

How the Kogan share price stacks up against its peers in 2022

Its tumble has only been bested by the share price of fellow online retailer, Temple & Webster Group Ltd (ASX: TPW), which has fallen 32%.

Other consumer goods shares, such as Adairs Ltd (ASX: ADH), Nick Scali Limited (ASX: NCK), and Accent Group Ltd (ASX: AX1) are also down – having fallen 26%, 18%, and 24% respectively in 2022.

Meanwhile, some S&P/ASX 200 Index (ASX: XJO) retailers, such as JB Hi Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN) are in the green – having gained 3% and 7% respectively.

For context, the ASX 200 Index has slumped 3% in 2022.

With so many of the ASX’s favourite retailers in the red, greener things must be coming, right?

Think again dear investor. Here’s what Morgan Stanley is predicting for the retail sector’s future.

What’s next for ASX retail shares?

A recent tumble experienced by many of the most recognisable ASX retail shares might have investors dying to enter the sector.

But Morgan Stanley chief investment officer of wealth management, Lisa Shalett is warning bullish buyers to carefully consider the market.

She believes a shift in consumer spending could be heading our way, pushing spending out of goods and into services.

While that might be good news for shares in the travel, leisure, and entertainment sectors, it could harm ASX retailers.

Additionally, according to Shalett, many companies that entered the ‘stay at home’ trend saw their demand pulled forward. But that could reverse in the near future, resulting in lower demand.

Rather than looking to ASX retail shares for buys, Shalett says investors should consider those in financials, energy, materials, consumer services, and healthcare.

Such sectors seem “ripe for stock-picking ideas” she says.

The post What’s the outlook for ASX retail shares like Kogan (ASX:KGN)? appeared first on The Motley Fool Australia.

More reading

• Here are 4 ASX shares insiders are putting their money behind
• 2 cheap ASX dividend shares analysts rate as buys
• 2 great ASX shares to buy in March 2022: experts
• Top broker says Harvey Norman (ASX:HVN) share price is cheap
• These are the 10 most shorted ASX shares

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. owns and has recommended ADAIRS FPO, Kogan.com ltd, and Temple & Webster Group Ltd. The Motley Fool Australia owns and has recommended ADAIRS FPO, Harvey Norman Holdings Ltd., and Kogan.com ltd. The Motley Fool Australia has recommended Accent Group and Temple & Webster Group 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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Safety — it is one of the biggest concerns for both investors and regulators when it comes to crypto. Searching ‘is crypto safe?’ in Google returns 1.48 billion results. While a search for ‘when was Bitcoin created?’ yields 795 million results.

Despite it being 13 years since Bitcoin (CRYPTO: BTC) was created, the safety of cryptocurrency markets remains a key focus. This spurred forth a committee led by New South Wales senator, Andrew Bragg, to investigate the need for an improved regulatory framework.

Now, crypto exchanges operating in Australia could be set for a shakeup. One that is intended to create a safer environment for both consumers and the economy.

Crypto market makers to be held to a higher standard

The Bragg report distilled its findings down to 12 recommendations. Already, the government and industry participants have shown support for the new potential regulations. With the first recommendation targeting crypto markets at their core — exchanges.

Firstly, the report recommends cryptocurrency exchanges be held accountable to capital adequacy, auditing, and responsible person tests by introducing a crypto market licence regime.

In other words, exchanges would need to meet minimum standards of spare capital to reduce the risk of financial collapse. A reality all too real for customers of local exchanges myCryptoWallet and ACX. Both fell into the hands of liquidators late last year.

Bragg thinks more stringent standards for exchanges could see operators fall from over 450 to around 20 to 30. However, with tens of millions of dollars passing through these entities of the ‘Wild West’ per day, that’s a tradeoff Bragg considers justifiable.

In discussing the proposed regulations, Andrew Bragg said:

[Cryptocurrency exchanges] wouldn’t face the same level of obligation as the ASX, but a new market licensee would meet stringent tests for capital adequacy, responsible persons as well as auditing rules, control frameworks and product disclosure requirements.

Could it discourage innovation?

While senator Bragg has spoken to industry participants that are advocating for market licences, not everyone is on board. Some are concerned such new policies could stifle innovation and push it offshore.

On this topic, Kraken managing director for Australia, Jonathon Miller stated:

Australia has built a reputation for being a crypto-savvy and friendly jurisdiction which goes a long way to ensuring crypto businesses remain onshore in Australia. This is something that the ‘traditional’ technology businesses of Australia have struggled to do.

Onerous regulation such as market licensing and/or crypto-asset custody/deposit regime could risk driving these innovative businesses offshore, repeating the mistakes of the past when it comes to encouraging local innovative businesses onshore.

Despite the concerns, the Cyber Security Industry Advisory Committee is also pushing for more safeguards at the exchange and customer level.

The post Could this be set to make investing in crypto safer for Aussies? appeared first on The Motley Fool Australia.

More reading

• Bye bye dividend? Here’s why the Coles (ASX:COL) share price is sliding today
• Zip (ASX:Z1P) shares have tumbled 14% since the merger news. Top brokers offer possible reasons why
• To infinity and beyond! Here’s why Fortescue (ASX:FMG) is spending $50m developing a brand new toy
• ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
• IAG (ASX:IAG) share price slumps amid $300m Greensill hit

Motley Fool contributor Mitchell Lawler owns Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. 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) is enjoying a healthy day in the green so far this Thursday. At the time of writing, the ASX 200 has added a robust 0.76%. But the same can’t be said of the Coles Group Ltd (ASX: COL) share price.

Coles shares are today trading at $17.13 at the time of writing. That’s down a meaty 2.67% from yesterday’s closing share price. So why are Coles shares being punished in the face of such a healthy broader market?

Well, fortunately for investors, it’s likely due to one of the only nice reasons to have a company’s share price fall. Today is the day that Coles trades ex-dividend for its upcoming interim shareholder payment.

During its half-year earnings report that was dropped back on 22 February, Coles declared an interim dividend of 33 cents per share. That will come fully franked, as is usual with this grocery giant. The 33 cents per share payment is flat on last year’s interim dividend. But it is a modest increase from Coles’ FY21 final dividend of 28 cents per share that was paid out back in September. It also represents a rise from Coles’ FY20 interim dividend of 30 cents per share. 

Coles’ interim dividend leaves its share price

When a company trades ex-dividend, it means that any new shareholders going forward are not entitled to said payment. As such, the company’s value falls because a dividend is essentially cash going out the door, never to return. That’s why we typically see a commensurate fall in a company’s share price when this happens. And that is what has happened with Coles today.

Investors can now look forward to receiving their interim dividend on 31 March later this month. In what might be a happy coincidence, Coles’ arch-rival Woolworths Group Ltd (ASX: WOW) is also going ex-dividend today, which is why we also are now seeing a fall in the Woolworths share price.

At the current Coles share price, this ASX 200 supermarket operator has a market capitalisation of $22.91 billion, with a dividend yield of 3.56%.

The post Bye bye dividend? Here’s why the Coles (ASX:COL) share price is sliding today appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Coles (ASX:COL) shares will trade ex-dividend this week. Here’s what you need to know
• These ASX dividend shares have been given buy ratings by analysts
• The oil price has just hit an 8-year high. What might this mean for ASX shares?
• These are some of the only ASX shares in the green today. Here’s why

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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It’s been a dramatic week for the Zip Co Ltd (ASX: Z1P) share price. Let’s start with the pause of trading last week. Fresh from announcing a major capital raise program last Friday, Zip shares subsequently went into a trading halt.

The purpose of this capital raise is to fund Zip’s acquisition of fellow buy now, pay later (BNPL) company Sezzle Inc (ASX: SZL). This acquisition will be all-scrip. Sezzle shareholders are to receive 0.98 Zip shares for every Sezzle share they own.

Here’s how Zip co-founder and global CEO Larry Diamond justified this move when it was announced:

We are delighted to be bringing Zip and Sezzle together under a transformational transaction that is expected to deliver immediate scale and enhanced growth, which will support our path to profitability. Combining with Sezzle positions us as a leading global BNPL provider and prioritises our ability to win in the important U.S. market.

And yet, ASX investors don’t seem quite as excited as Diamond. When Zip shares resumed trading on Tuesday this week, they fell significantly. As it stands today, Zip shares have lost 13.74% in value since they resumed trading.

Brokers divided on Sezzle acquisition

Yesterday, my Fool colleague James examined some broker opinions that were positive about this tie-up. Analysts from broker Morgans described the deal as “making strategic sense” and stated that it would increase both Zip’s global transaction volumes and customer base by about 30-35%.

However, not all opinions on this merger have been positive. According to reporting in the Australian Financial Review (AFR), analysts at broker Citi reckon there might be a bit too much optimism in what Zip and Sezzle are expecting to gain from this merger.

Citi analyst Siraj Ahmed said that although Zip and Sezzle are estimating that the two companies have a 15% customer overlap, it could be closer to 25%.

He also reckons the $40-50 million in revenue synergies targeted by the companies could be optimistic. Saying that, he does see benefits in transaction margins and faster merchant additions. As well as the “introduction of Sezzle’s longer duration products”.

Analysts at Macquarie have similar concerns. They predict that bad and doubtful debts are likely to remain high and the companies will take a hit to margins due to rising interest rates.

Macquarie has a share price target of $1.85 for Zip. That’s down from $3.40 a share.

Zip share price snapshot

The Zip share price has lost a further 1.79% at the time of writing today. It is currently trading at $1.92. At this share price, the BNPL company has a market capitalisation of $1.14 billion.

The post Zip (ASX:Z1P) shares have tumbled 14% since the merger news. Top brokers offer possible reasons why appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
• Why Domino’s, Magellan, PointsBet, and Zip shares are falling
• Top brokers name 3 ASX shares to buy today
• ‘Strategic sense’: What brokers are saying about the Zip (ASX:Z1P)-Sezzle deal
• These 3 ASX 200 shares are topping the volume charts this Tuesday

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 ZIPCOLTD FPO. 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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Fortescue Metals Group Limited (ASX: FMG) is planning to spend many millions of dollars to create a new type of train.

The ASX mining giant has an important goal of decarbonising its business, as well as helping the world’s heavy industry reduce emissions as well. These efforts are coming from Fortescue Future Industries (FFI), the green division of Fortescue.

Infinity train

The acquisition of the high-performance battery business Williams Advanced Engineering (WAE) has been completed. WAE will stay “strongly independent” but it will help Fortescue decarbonise.

With the completion of the acquisition, WAE and Fortescue announced the development of an ‘Infinity Train’, which will be a world first and have zero emissions. The company has been working on decarbonising its train operations for a while now.

Fortescue explained that the regenerating battery electric iron ore train project will use gravitational energy to fully recharge its battery electric systems without any additional charging requirements for the return trip to reload.

But there are other benefits to this project as well. It will reportedly lower Fortescue’s operating costs, create maintenance efficiencies and productivity opportunities.

The company plans to become a major player in the growing global market for green industrial transport equipment as it develops and distributes this globally. The mining giant hopes this will provide “great value” for Fortescue shareholders.

How much will this cost?

Studies and development costs for the Infinity Train are expected to be US$50 million over the next two years and will be classified as operating cost efficiencies, with the studies to refine the capital estimate and schedule.

Fortescue’s current train operations

The ASX mining share currently has 54 operating locomotives that hauls 16 train sets. Each train set is around 2.8km in length and has the capacity to haul 34,404 tonnes of iron ore in 244 ore cars.

The rail operations amount to around 11% of Fortescue’s scope 1 emissions. These are emissions that Fortescue produces itself, not the emissions of its customers.

Fortescue is planning for its diesel consumption and associated emissions to be eliminated once the infinity train is fully implemented. In FY21 it used 82 million litres of diesel. The company is planning to be diesel free by 2030.

Leadership commentary

Fortescue CEO, Elizabeth Gaines, said:

The Infinity Train has the capacity to be the world’s most efficient battery electric locomotive. The regeneration of electricity on the downhill loaded sections will remove the need for the installation of renewable energy generation and recharging infrastructure, making it a capital efficient solution for eliminating diesel and emissions from our rail operations.

Fortescue share price snapshot

Over the last month, the Fortescue share price has dropped over 10%. But over the past four months it has risen by around 30%.

The post To infinity and beyond! Here’s why Fortescue (ASX:FMG) is spending $50m developing a brand new toy appeared first on The Motley Fool Australia.

More reading

• Here’s how these top 3 ASX 200 mining shares performed in February
• How might the conflict in Ukraine impact the iron ore price?
• Tell him he’s dreamin’: Are the Fortescue (ASX:FMG) green hydrogen plans realistic?
• Why Betmakers, Fortescue, Suncorp, and Tyro shares are falling
• 5 ASX 200 shares trading ex-dividend today

Motley Fool contributor Tristan Harrison owns Fortescue Metals Group Limited. 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) has followed the lead of US markets and is storming higher. The benchmark index is currently up 0.7% to 7,171.7 points.

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

Corporate Travel Management’s acquisition boost

The Corporate Travel Management Ltd (ASX: CTD) share price is pushing higher today after receiving a boost from the ACCC. The competition regulator has approved the corporate travel specialist’s proposed $175 million acquisition of the ANZ-based corporate and entertainment travel businesses of Helloworld Travel Ltd (ASX: HLO). The ACCC doesn’t expect the deal to lessen competition.

IGO shares storm higher

The IGO Ltd (ASX: IGO) share price is storming higher today following another strong night for commodity prices. For example, according to CommSec, the nickel price rose 3.6% to US$26,489 per tonne overnight. In other news, this morning joint venture partner Impact Minerals Limited (ASX: IPT) revealed that a significant electromagnetic (EM) conductor has been identified in the extensive ground EM survey at the Broken Hill project in NSW.

Zip shares downgraded

The Zip Co Ltd (ASX: Z1P) share price is falling again on Thursday after being downgraded by the team at UBS. According to the note, the broker has downgraded the buy now pay later provider’s shares to a sell rating and taken a hammer to its price target. The latter is now just $1.00, which is down 81% from UBS’ previous price target of $5.20.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Pointsbet Holdings Ltd (ASX: PBH) share price with a 14% gain on no news. This sports betting company’s shares have been very volatile this week. The worst performer on the ASX 200 has been the Monadelphous Group Limited (ASX: MND) share price with a 4% decline. Some of this is due to its shares trading ex-dividend this morning.

The post ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded appeared first on The Motley Fool Australia.

More reading

• Corporate Travel Management (ASX:CTD) share price higher on ACCC Helloworld update
• 5 things to watch on the ASX 200 on Thursday
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• Why Domino’s, Magellan, PointsBet, and Zip shares are falling
• Will Mike Cannon-Brookes bring an extra $1 billion to the table in his AGL takeover bid?

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 Helloworld Limited, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited and Pointsbet Holdings 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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The Insurance Australia Group Ltd (ASX: IAG) share price is in the red today amid reports the company is facing nearly $300 million in claims in the Federal Court.

It follows longstanding concerns that IAG could be liable for insurance policies placed on security packages sold by the now-defunct Greensill Capital. Though, the company has denied any exposure to the firm.

Additionally, disastrous flooding in parts of Australia could be weighing on investors’ minds this morning.

At the time of writing, the IAG share price is $4.33, 1.7% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.62%.

Let’s take a closer look at what could be weighing on the insurance giant’s stock on Thursday.

Is this dragging on the IAG share price today?

The IAG share price is sliding today amid reports that it’s being hit with nearly $300 million of claims due to its stake in specialist insurer, Bond and Credit Co.

When Greensill collapsed in early 2021, rumours swirled that IAG could be liable to pay for some of losses associated with the firm’s failure.

That’s because IAG owned a 50% share of Bond and Credit Co, which covered credit policies sold to Greensill entities.

However, IAG sold its share of the specialist insurer in 2019. It claimed the sale eliminated its net exposure to trade credit insurance.

Over the weekend, reports emerged claiming Credit Suisse Virtuoso launched a new claim relating to the firm’s collapse, seeking around $42 million from IAG in the Federal Court.

Today, the Australian Financial Review is reporting White Oak, Credit Suisse, and the German administrator of Greensill Bank are, together, chasing IAG for close to $300 million.

The Motley Fool Australia reached out to IAG for comment but did not receive an immediate response.

Wild weather and flooding continues

More major flooding could also be dragging on the IAG share price today.

Devastating floods have continued to hit parts of Australia’s east coast, as New South Wales (NSW) SES issues evacuation orders for parts of Sydney.

The Bureau of Meteorology is forecasting up to 100 millimetres of rain for the state’s Metropolitan and Illawarra districts. Parts of the Mid North Coast, Hunter, and Central Tablelands are also expected to be impacted.

It has also issued a warning of high tides, heavy surf, coastal erosion, and potential flooding for most of NSW’s coastline.

Additionally, in already sodden south-east Queensland, the bureau has issued yet another major flood warning. This time, for the Logan River.

Parts of the river’s catchments received another 80 millimetres of rainfall overnight. That’s after they received between 400 millimetres and 800 millimetres last weekend.

The bureau is also expecting flooding to return to parts of Brisbane and Ipswich on Thursday and Friday.

IAG share price snapshot

It has been a rough week for the IAG share price.

It has fallen 9.7% since Friday’s close.

That sees it trading for 3% less than it was at the start of 2022. It’s also currently 11% lower than it was this time last year.

The post IAG (ASX:IAG) share price slumps amid $300m Greensill hit appeared first on The Motley Fool Australia.

More reading

• Why is the IAG (ASX:IAG) share price sliding this week?
• 4 ASX shares that love rising interest rates: report
• Here’s why the IAG (ASX:IAG) share price is outperforming today
• Here’s everything you need to know about the IAG (ASX:IAG) dividend
• Leading brokers name 3 ASX shares to sell today

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 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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ASX gold shares have been riding high in 2022 on the back of galloping gold prices.

Initially fuelled by the spectre of rising inflation and more recently by Russia’s invasion of neighbouring Ukraine, gold has soared from US$1,829 at the beginning of the year to US$1,929 today.

That 5.5% boost has helped propel the S&P/ASX All Ordinaries Gold Index (ASX: XGD) to a 4.4% year-to-date gain, even as the All Ordinaries Index (ASX: XAO) has fallen 5.7%.

While not all ASX gold shares have matched those gains, some have done much better.

Below we take a look at 3 little-known junior gold miners whose share prices are going gangbusters.

ASX gold share nears first gold pour

Our first outperforming junior gold miner is Calidus Resources Ltd (ASX: CAI).

The Calidus share price has leapt 23.9% since the opening bell on 4 January. That gives Calidus a market cap of $326 million.

Investors have rewarded the miner following a series of positive exploration and production announcements this year.

The most recent boost came on 28 February, when the ASX gold share reported it was on track for its first gold pour, approximately 10 weeks down the road.

Junior gold miner with a foothold in lithium

Our second booming ASX gold share is Castle Minerals Ltd (ASX: CDT), which also has exposure to lithium.

The Castle Minerals share price has leapt 42.5% this year, giving the miner a market cap of $52 million.

Castle Minerals has released a number of positive announcements in 2022, including exploration license approvals and the identification of 4 high priority gold and lithium targets at its Beasley Creek project in Western Australia.

This ASX gold share leads the pack

Leading the pack of the 3 ASX gold shares under our spotlight today is West Wits Mining Ltd (ASX: WWI).

The West Wits share price has surged 50% since the opening bell on 4 January. It now has a market cap of $81 million.

In February, West Wits reported that its Witwatersrand Basin Project in South Africa had successfully produced its first ore. The company said the project “is enroute to becoming a large gold mine in South Africa, ultimately targeting production of up to 95,000 ounces” of gold per year.

The post 3 ASX junior gold mining shares going gangbusters in 2022 appeared first on The Motley Fool Australia.

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• The miner’s ore reserves are climbing, so how is the Newcrest (ASX:NCM) share price responding?
• Here’s why this ASX graphite share just leapt 9%
• Here’s why the Global Lithium (ASX:GL1) share price is soaring 18% today
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• Better buy: Apple or all 30 Dow Jones stocks?

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 Newcrest Mining Ltd (ASX: NCM) share price has been rising in recent weeks amid an increase in gold and copper ore reserves.

Newcrest shares are currently down 0.7% at $25.42. However, they have surged 12% in the past month.

Let’s take a look at what this miner has been reporting lately.

Gold and copper reserves increase

The Newcrest share price has gained nearly 8% since market close on 16 February. On 17 February, the company reported its gold ore reserves had soared by 10% to 54 million ounces.

Following a review of all production resources, Newcrest updated its mineral resource and ore reserve estimates for the 12-month period ending 31 December 2021.

Measured and indicated resources increased 7% to 104 million ounces of gold, while copper soared 12% to 19 million tonnes.

Meanwhile, inferred resources surged to 39% to 16 million ounces of gold, while copper surged 50% to 3.5 million tonnes.

The company also revealed its half-year results on 17 February.

In the H1 FY22, Newcrest statutory profit fell 46% on the previous corresponding period, while gold production was down 20%. The company declared a fully franked interim dividend of 7.5 US cents (10.4 AU cents). This will be paid to shareholders on 31 March.

On 28 February, Newcrest advised it had received final approval to acquire the remaining stake in Canadian company Pretivm Resources. Currently, Newcrest currently holds a 4.8% stake in its Canadian counterpart.

Gold prices edging higher

The surging gold price could also be having an impact on the Newcrest share price. As my Foolish colleague Bernd Struben reported yesterday, gold prices have been soaring amid inflation concerns and Russia’s invasion of Ukraine.

The gold price has surged by nearly 7% in a month from $1804.40 on 3 February to US$1928.59 per troy ounce at the time of writing.

Newcrest share price snapshot

The Newcrest share price has climbed 4% in the past year, while it is up more than 3% this year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned around 5.5% over the past year.

Newcrest has a market capitalisation of roughly $20.9 billion based on today’s share price.

The post The miner’s ore reserves are climbing, so how is the Newcrest (ASX:NCM) share price responding? appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX gold shares are having another stellar day
• Here’s why ASX gold shares just had their best month in 2 years
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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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