The Australian Strategic Materials Ltd (ASX: ASM) share price is up 5.66% at time of writing to $11.38 per share.

The ASX rare earths and strategic metals explorer is gaining today even as the All Ordinaries Index (ASX: XAO) dips 0.34% into the red.

Factoring in today’s intraday gains, the Australian Strategic Materials share price is up nearly 12% since the closing bell last Wednesday.

What’s driving ASX investor interest?

The Australian Strategic Materials share price has closed higher on 4 of the last 5 days of trading.

The most recent price-sensitive news from the miner was released after market close on Tuesday.

In that release Australian Strategic Materials reported that it had signed a Joint Statement of Cooperation with the Korean Mine Rehabilitation and Resource Corporation (KOMIR).

According to the Joint Statement of Cooperation, Australian Strategic Materials and KOMIR will work together to expand the use of rare earths and critical metals in Korea.

The 2 companies will also cooperate to develop import opportunities to secure the supply of rare earths and critical metals for Korea’s industries. The miner said this includes supplies for strategic stockpiling.

Commenting on the agreement, Australian Strategic Materials’ managing director, David Woodall said:

This builds on the cooperative and collaborative relationship between Korea and ASM, creating further opportunities to engage on the strategic issue of critical minerals and metal supply.

This Joint Statement of Cooperation is another firm sign of Korea’s commitment to securing its supply of critical metals and to working with ASM to deliver an outcome that is beneficial to the Korean supply chain.

Woodall said that Australian Strategic Materials will start producing critical metals at its Korean Metals Plant in 2022.

Australian Strategic Materials share price snapshot

The Australian Strategic Materials share price is up an impressive 132% over the past full year. By comparison the All Ords has gained 10% over that same time.

Over the last month, shares in Australian Strategic Materials have gone the other direction, down 16%.

The post Here’s why the Australian Strategic Materials (ASX:ASM) share price has leapt 12% in a week appeared first on The Motley Fool Australia.

More reading

• Australian Strategic Materials (ASX:ASM) share price loses 11% despite ‘strong financial results’
• Why is the Australian Strategic Materials (ASX:ASM) share price halted?

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.

from The Motley Fool Australia https://ift.tt/3GEulwS

The Treasury Wine Estates Ltd (ASX: TWE) share price is climbing today after the company updated the market on its sustainability push.

Treasury Wine Estates is Australia’s largest wine company and one of the biggest in the world. Its household brand names include Penfolds, Beringer, Lindemans, Wolf Blass and Rosemount Estate.

Shares in the winemaker are up 0.66% to $12.14 in afternoon trading. They rose by 1.5% in an early morning push to $12.24 before slipping back.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.5% today.

Let’s take a look at what Treasury Wine Estates announced today.

Green push

Treasury Wine Estates announced it will convert $1.4 billion of its financial loans into sustainability-linked loans. The company claims that this is one of the biggest sustainability loans in the Asia-Pacific.

By establishing loans, the company will have a financial incentive to reach its green targets. These include 100% renewable electricity by 2024, reducing greenhouse emissions, and reviewing its water usage and footprint.

Sustainability loans tie the company’s performance on these targets to the cost of the loan.

Treasury Wine Estates also aims to have 50% of the company’s senior leadership positions filled by women. It also wants 42% of its company representatives to be women by 2025.

The Treasury Wine Estates share price has soared about 27% year-to-date after falling 41% in value in 2020.

As my Foolish colleague Mitchell reported this week, analysts expect the winemaker’s share price to rally by as much as 12.8% to $13.80 in 2022.

Company comment

Speaking about the announcement today, chief financial officer, Matt Young, said:

Integrating our sustainability performance with our financing framework is a really important step for both our sustainability and capital market journeys, incentivising us to move even more quickly towards achieving our sustainability ambitions and targets.

Chief sustainability and external affairs officer, Kirsten Gray, added:

As custodian of some of the world’s most iconic wine brands and with a large global footprint, we have a responsibility to be a leader in sustainability and recognise that it is fundamental to our long-term success.

Treasury Wine share price snapshot

While the Treasury Wine Estates share price has gained nearly 29% over the past 12 months, the ASX 200 is up 9%.

In the past month, Treasury Wine Estates shares have gained nearly 7%.

The winemaker has a market capitalisation of about $8.7 billion.

The post Treasury Wine Estates (ASX:TWE) share price lifts amid latest green push appeared first on The Motley Fool Australia.

More reading

• Could 2022 be a good year for the Treasury Wine (ASX:TWE) share price?
• Leading brokers name 3 ASX shares to buy today
• Morgans names 2 ASX 200 shares to buy
• How did the Treasury Wine (ASX:TWE) share price perform in November?
• 2 hot ASX shares to snap up right now: expert

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 Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3ITgSmL

As most ASX investors would be aware, the All Ordinaries Index (ASX: XAO) hasn’t had the best of months. Over the past four weeks or so, the All Ords has gone backwards by around 1.65%. But that’s nothing compared to the Core Lithium Ltd (ASX: CXO) share price.

Core Lithium shares have had a pretty depressing month, falling 5.36% since 16 November. That’s a drop from 56 cents a share to the 53 cent price tag we see today (at the time of writing).

So what’s been happening with Core Lithium that has made the past few weeks such a slog? Well, it’s not entirely clear. We have had some news from the company over the past month that might have contributed though. Core Lithium held its annual general meeting back on 25 November. However, that seemed to have little impact on investors, seeing as the AGM wasn’t marked as price-sensitive, meaning there were no meaningful company updates presented for shareholders there.

Then, just earlier this week, we got another update from Core Lithium. On Monday, the company informed investors that it had intersected “high grade spodumene mineralisation” during exploration drilling at its Finniss lithium project in the Northern Territory. The company stated that “these results are very encouraging” and “lay the foundation for production expansion within the broader Finniss Lithium Project”. More updates on this project are expected soon.

Why has the Core Lithium share price had a month to forget?

So investors seemed to have received these results with some warmth. That’s going off the fact that Core Lithium shares are up close to 5% since this announcement was made public.

However, even that move hasn’t been enough to pull Core Lithium away from its losses over the past month.

So perhaps investors have just decided to give Core Lithium shares a bit of a cool off. After all, this is a company that remains up an incredible 209% year to date, and an even more mind-boggling 483% over the past 12 months. It’s arguably quite normal for a share with those kinds of gains under the belt to have the odd pullback as investors take profits off the table.

Core Lithium shares are up 1.92% at the time of writing at 53 cents a share. At this share pricing, Core Lithium has a market capitalisation of roughly $884.72 million.

 

The post Why is the Core Lithium (ASX:CXO) share price having such a lousy month? appeared first on The Motley Fool Australia.

More reading

• Why has the WiseTech (ASX:WTC) share price popped 6% to a new all-time high?
• 2 buy-rated ASX travel shares that could take off
• Affirm share price rallies overnight, but how does it compare to Afterpay (ASX:APT)?
• XPON Technologies (ASX:XPN) share price leaps 20% following IPO
• Veem (ASX:VEE) share price leaps 7% on upbeat sales data

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

from The Motley Fool Australia https://ift.tt/3dXoExO

The S&P/ASX 200 Index (ASX: XJO) is once again suffering through a day of red ink thus far this Thursday. At the time of writing, the ASX 200 is down by 0.42% at 7,296 points. That puts its losses for the past month at 1.67%. So that’s why it’s rather startling to see the WiseTech Global Ltd (ASX: WTC) share price having such a strong day.

At the time of writing, WiseTech shares are up a healthy 6.39% at $59.10 a share. That’s after hitting a new all-time high of $59.25 earlier in intraday trading. That puts this WAAAX company’s gains for the past month at a robust 5.44%.

But zooming out a little, and the picture gets even better for investors. WiseTech is now up an incredible 89.4% over just the past 6 months, and 93.8% year to date. Its gains over the past 5 years now sit at more than 930%.

So what’s happened with WiseTech today that has made its share price such a market-beater?

Why has the WiseTech share price whizzed up today?

Well, unfortunately for those readers who like a straight answer, there isn’t one to give. There has been no official news or announcements out of WiseTech recently. Or even semi-recently. We haven’t seen any major announcements out of WiseTech since its annual general meeting that was held on 19 November.

So why then are WiseTech shares moving so convincingly higher today?

Well, a possible explanation is that WiseTech, a much-beloved ASX tech share, is benefitting from the general attraction that ASX investors seem to be feeling towards the entire tech sector today. Tech is the best performing sector on the ASX boards. The S&P/ASX 200 Information Technology Index (ASX: XIJ) is up a healthy 2.05% this afternoon.

In addition to the gains we see with WiseTech shares, other ASX tech shares are also enjoying some time in the sun. Appen Ltd (ASX: APX) for example, is currently up 3.68% at $10.13. Nearmap Ltd (ASX: NEA) shares are up 2.6% at $1.57. And Tyro Payments Ltd (ASX: TYR) has gained 2.85% at $2.89.

WiseTech and Appen’s fellow WAAAX shares are all faring well. Xero Limited (ASX: XRO) is up 1.8%, while Afterpay Ltd (ASX: APT) and Altium Limited (ASX: ALU) have put on 1.63% and 0.9% respectively.

It’s very possible that WiseTech’s gains are just part of a broader buying pattern for the ASX tech space that we seem to be witnessing this Thursday. Whatever the reason for WiseTech’s stellar run, shareholders will no doubt be rejoicing.

At the current share price, WiseTech has a market capitalisation of $19.17 billion. It has a price-to-earnings (P/E) ratio of 177 and a dividend yield of 0.11%.

The post Why has the WiseTech (ASX:WTC) share price popped 6% to a new all-time high? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• Why is the WiseTech (ASX:WTC) share price having such a lousy end to the week?
• Why Nanosonics, WiseTech, and Zip shares are dropping
• ASX 200 (ASX:XJO) midday update: Crown jumps, WiseTech tumbles
• 5 things to watch on the ASX 200 on Friday

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 AFTERPAY T FPO, Altium, Appen Ltd, Nearmap Ltd., Tyro Payments, WiseTech Global, and Xero. The Motley Fool Australia owns and has recommended AFTERPAY T FPO, Appen Ltd, Nearmap Ltd., WiseTech Global, and Xero. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3spsp7J

Some of the under pressure ASX travel shares could actually be longer-term opportunities according to the buy ratings of some analysts and brokers.

COVID-19 impacts have hurt demand and travel volumes for nearly two years. But, despite the Omicron variant, these ASX travel shares might be compelling ideas according to some brokers:

Webjet Limited (ASX: WEB)

Morgans currently rates Webjet as a buy, with a price target of $6.60. That implies that the Webjet share price could rise by around 25% over the next year, if the broker is right.

The broker thinks that Webjet can continue to be profitable for the next result after a promising recent report. However, Morgans still thinks it will take some time before full travel volumes return.

Over the last month the Webjet share price has dropped over 15%.

When Webjet released its FY22 first half result, it said that the business was turning around as global travel markets start to reopen. Webjet said that positive working capital was delivering a $3.5 million cash surplus per month.

WebBeds has been profitable since July, with FY22 first half costs down 31% compared to pre-COVID times and is on track to be 20% more cost efficient at scale. The November 2021 total transaction value was 63% of pre-COVID volumes with many key markets yet to open.

The Webjet online travel agency (OTA) returned to profitability in October, despite the lockdowns and border closures in the second quarter.

This ASX travel share is seeing “rapid returns to high booking volumes as markets reopen”. At the time of the report release, third quarter tracking was ahead of the second quarter of FY22.

According to Morgans, the Webjet share price is valued at 35x FY23’s estimated earnings.

Corporate Travel Management Ltd (ASX: CTD)

Corporate Travel is rated as a buy by Citi as well, with a price target of $27.11. That suggests a potential increase of the Corporate Travel Management share price of more than 20% over the next year.

This ASX travel share recently announced an acquisition, though the broker was not particularly impressed by the decision to buy the Helloworld Travel Ltd (ASX: HLO) corporate business.

Corporate Travel Management is buying the corporate and entertainment travel business for $175 million.

This deal is expected to add 3% to earnings per share (EPS) on a FY19 pro forma basis, before synergies. Including those synergies, it’s expected to add 7% when earnings have recovered. If the deal goes ahead – it requires various approvals including the ACCC – it is expected to happen in the first quarter of 2022.

Despite all of the impacts of COVID-19, including the Omicron variant, Corporate Travel Management was able to generate positive underlying earnings before interest, tax, depreciation and amortisation (EBITDA) in the second quarter of FY22 to the end of November 2021.

It had cash of $102 million and no debt at 30 November 2021.

Citi’s numbers put the Corporate Travel Management share price at 21x FY23’s estimated earnings.

The post 2 buy-rated ASX travel shares that could take off appeared first on The Motley Fool Australia.

More reading

• The Corporate Travel (ASX:CTD) share price will resume trading tomorrow. Here’s what you need to know
• ASX 200 (ASX:XJO) midday update: CSL upgraded, Westpac AGM update
• Why is the Corporate Travel Management (ASX:CTD) share price halted?
• When it comes to the Webjet (ASX:WEB) share price, do the brokers or the shorters have it right?
• These are the 10 most shorted ASX shares

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 recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/328VbhK

The United States-based buy now, pay later (BNPL) company, Affirm Holdings Inc (NASDAQ: AFRM) rose 4.9% in overnight trade. As a result, the Affirm share price is now sitting at $110.98, which might prompt local investors to wonder how the US company stacks up against local BNPL legend Afterpay Ltd (ASX: APT).

Since joining the public markets in January this year the instalment payment provider has traded between US$46.50 and US$176.65. Yet, the erratic swings in the company’s share price have only amounted to a 14% gain for the year so far.

Not all too exciting when you consider an investment in the S&P/ASX 200 Index (ASX: XJO) delivered a 9.5% return over the same period without having your heart in your throat.

Nonetheless, let’s look at how Afterpay compares to Affirm after its share price rise last night.

Survival of the fastest growing

When it comes to the BNPL industry there aren’t too many companies worried about profitability. Instead, it’s all about growing the top line as fast as possible, taking market share from competitors in the process. For this reason, investors will seldom fret over the bottom line.

So, let’s lift the lid on Affirm and ASX-listed Afterpay’s last annual growth metrics.

Firstly, the gross merchandise volume (GMV) processed by BNPL companies is an important indicator of market penetration. In FY21, Affirm delivered a GMV of US$8.3 billion (A$11.57 billion), compared to Afterpay’s A$22.4 billion worth of underlying sales during the financial period.

Similarly, Afterpay claimed the trophy when it comes to active customers at the end of FY21. The ASX-listed company reported 16 million shoppers actively using its platform. Meanwhile, Affirm reached 7.1 million active customers using its product. But, how does this translate into real revenue for the companies?

Well, in FY21 Affirm recorded US$870.5 million (A$1,213 million) in revenue — representing an increase of 71% on the prior corresponding period. In comparison, ASX-listed Afterpay notched up A$836 million, which was an increase of 75% compared to the previous year.

Though these figures might seem relatively inconspicuous at first, the interesting aspect is how Affirm is driving roughly 45% more revenue from nearly half as much in underlying sales.

Looking a little closer at Affirm’s financial statements, it can be seen that the BNPL company made US$326.4 million in interest income in FY21. Whereas, Afterpay does not charge interest on any of its payments. Affirm offers 6 monthly payments and 12 monthly payments which both come with an annualised 15% interest rate.

How does Affirm’s share price compare to Afterpay on the ASX?

Compared to Afterpay’s abysmal ~25% share price fall, Affirm’s share price has provided a positive return for investors so far this year (as shown below).

Since being announced in August, Afterpay’s acquisition by Block Inc (NYSE: SQ) (formerly Square) has been jumping through all the hurdles that come with such a deal. For the ASX-listed company, it has meant that its share price has been tied to Block’s due to the all-scrip deal.

In turn, Afterpay’s ASX-quoted market capitalisation is now ~A$26.4 billion. In comparison, based on Affirm’s current share price, the US-listed company commands a market cap of A$43.5 million.

The post Affirm share price rallies overnight, but how does it compare to Afterpay (ASX:APT)? appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, Cardno, Mesoblast, and Woolworths shares are falling
• ASX 200 (ASX:XJO) midday update: Afterpay takeover vote, Woolworths crashes
• Zip (ASX:Z1P) shares just topped these end-of-year rankings
• Afterpay (ASX:APT) shareholders vote in favour of Square takeover
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Mitchell Lawler owns AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO and Block, Inc. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3DY3Lx2

The XPON Technologies Group Limited (ASX: XPN) share price has had a monumental debut on the ASX, surging 20% higher.

The company floated at 12noon AEDT on Thursday after raising $12.5 million during its initial public offering (IPO).

At the time of writing, the XPON Technologies share price is 24 cents. However, earlier today it was trading at 28.5 cents.

Let’s take a closer look at the ASX newbie and its IPO process.

But first, what is XPON Technologies?

XPON Technologies is a technology and cloud business that provides services and software solutions enterprises in Australia, New Zealand, the United Kingdom, and Europe.

It allows businesses access to and understanding of data captured during their customer’s digital experiences using analytics, artificial intelligence, and machine learning.

It also runs 2 proprietary technology platforms: the Wondaris Consumer Data Platform and the Holoscribe Extended Reality platform.

Its XPON Technologies founder, managing director, and CEO Matt Forman said:

XPON is uniquely positioned at the intersection of converging trends in data privacy and marketing technology…

With businesses facing stricter data privacy restrictions, shorter customer attention spans, and higher expectations for valuable brand experiences, the tools XPON offers through the delivery of our full-stack solution are in high demand.

The company’s key verticals include retail, financial services, media & entertainment, and travel.

It has more than 190 customers, including ASX companies such as Super Retail Group Ltd (ASX: SUL), Domino’s Pizza Enterprises Ltd (ASX: DMP), Flight Centre Travel Group Ltd (ASX: FLT), and Webjet Limited (ASX: WEB).

XPON Technologies share price surges following IPO

XPON Technologies raised $12.5 million by selling 62.5 million shares – its maximum planned issuance – through its IPO. Under its prospectus, shares in the company were offered for 20 cents apiece.

The company plans to use the funds raised through its IPO to scale and expand its business.

Most will go towards expanding sales, marketing, and customer growth, while a decent portion will fund product development and capability.

From June 2020 to June 2021, the company reported annualised recurring revenue growth of 253%. Right now, its customer retention rate is 99.6%.

Following its float, the company’s management and board have a combined 52% holding in its securities.

At its offer price, the company expected to list with an undiluted market capitalisation of around $60.7 million with approximately 303 million shares outstanding.

At its current share price, XPON Technologies has an undiluted valuation of approximately $72.8 million.

The post XPON Technologies (ASX:XPN) share price leaps 20% following IPO appeared first on The Motley Fool Australia.

More reading

• Affirm share price rallies overnight, but how does it compare to Afterpay (ASX:APT)?
• Veem (ASX:VEE) share price leaps 7% on upbeat sales data
• Own Kogan (ASX:KGN) shares? This $5m under-the-radar deal could signal a crypto play
• Venture Minerals (ASX:VMS) share price rocketing 17% on these record results
• Fortescue (ASX:FMG) Future Industries explores NZ oil refinery repurposing

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 Super Retail Group Limited. The Motley Fool Australia owns and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3ytspEo

The Veem Ltd (ASX: VEE) share price has taken off today after the company provided a gyro sales update.

At the time of writing, the marine technology company’s shares are up 7.21% to 92 cents. However, despite the strong gains made today, its shares are down by more than 20% in a month.

Veem provides sales update

The Veem share price is pushing ahead after the company announced a strong order book since its 17 November update.

In today’s release, Veem advised that it has received six orders for its gyrostabilisers, worth $2.2 million. This brings the total orders in hand to $5 million, with $1 million expected to be delivered this month.

Veem noted that the order book includes repeat purchases from three prestige boatbuilders for the luxury superyacht market. Namely, the customers are Alia in Europe, and Westport and the United States.

Furthermore, Damen – a Dutch defence, shipbuilding, and engineering conglomerate company – has started a marketing campaign for the use of VEEM Marine gyrostabilisers on its FCS 5009 vessels.

Currently, Veem has a 3-year agreement with Damen for the supply of gyros as an option onboard its FCS workboats.

The company also appointed Dennis Bravenboer as its new head of sales & business development in Europe. Mr Bravenboer will start the role in January 2022 and oversee the European marketing and sales division.

What did the managing director say?

Veem managing director Mark Miocevic commented:

We are pleased, but not surprised, to land these new orders in rapid succession over the last few weeks. Based on our leads and enquiries, we are very confident the orders will continue to increase through the second half of FY2022.

The Damen marketing campaign to introduce and recommend the VEEM Marine gyros, and in particular the VG520SD, to their client base is a great step forward for VEEM in the commercial markets with Damen being such a highly regarded shipbuilder.

We are very pleased to have been able to secure the services of Dennis Bravenboer to drive our European sales and marketing program for VEEM Marine. Dennis’ background in the sales and marketing of engineered marine products is outstanding and with our support we expect him to hit the ground running in 2022.

Veem share price summary

The Veem share price has gained almost 40% in the past 12 months and is around 10% higher year-to-date.

Based on the current share price, Veem commands a market capitalisation of $125.54 million, with 135.72 million shares on issue.

The post Veem (ASX:VEE) share price leaps 7% on upbeat sales data appeared first on The Motley Fool Australia.

More reading

• Own Kogan (ASX:KGN) shares? This $5m under-the-radar deal could signal a crypto play
• Venture Minerals (ASX:VMS) share price rocketing 17% on these record results
• Fortescue (ASX:FMG) Future Industries explores NZ oil refinery repurposing
• Avita Medical (ASX:AVH) share price sinks to 52-week low despite ‘pivotal’ trial update
• Why Chorus, CSL, Qantas, and Sims shares are dropping

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 recommended VEEM Ltd. The Motley Fool Australia has recommended VEEM Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3sbz2u2

Cryptocurrency-loving owners of Kogan.com Ltd (ASX: KGN) shares can rejoice as the company looks to dip its toes into the world of crypto.

Kogan has made a round-about deal with Canadian cryptocurrency exchange Bitbuy that will see it marketing the platform’s Australian launch.

At the time of writing, the Kogan share price is trading 0.74% higher at $8.15.

Let’s take a closer look at the online retailer and service provider’s foray into the cryptocurrency space.

Kogan shares might soon benefit from crypto trading

On Tuesday, Kogan announced it had reached an arrangement that will see the company gain a boost of around $5 million and a partnership with a crypto exchange.

All that comes at the price of a single domain name.

The company is selling one of its domain names – bitbuy.com – to Bitbuy’s parent company, First Ledger Corp.

The domain will cost First Ledger Corp $US1.5 million (around $2.09 million) in cash.

Additionally, Kogan will receive a warrant entitling it to around $3.04 million (converted from Canadian dollars).

The warrant will be cashed in for either First Ledger equity or cash within a year of transferring the domain name.

Kogan executive director, David Shafer commented on the sale, saying:

The domain sale not only delivers returns for Kogan shareholders but also provides an opportunity to benefit from Bitbuy’s future success in the crypto business abroad and potentially in the Australian market.

According to the company, Bitbuy is one of the most secure and trusted crypto trading platforms in Canada.

It recently became the first marketplace and dealer to be granted approval by the nation’s local security regulators.

Kogan didn’t mention when the crypto trading platform will be looking to launch in Australia.

Right now, Kogan shares are trading for 57% less than they were at the start of 2021. Its share price has also tumbled 10% over the last 30 days.

The post Own Kogan (ASX:KGN) shares? This $5m under-the-radar deal could signal a crypto play appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Why is the Kogan (ASX:KGN) share price jumping 5% today?
• ASX 200 retail shares lift as Aussies head into Christmas with $240bn in savings
• Why Bapcor, Kogan, Sigma, and Zip shares are dropping today
• ASX 200 (ASX:XJO) midday update: Metcash jumps, Kogan and Zip sink

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

from The Motley Fool Australia https://ift.tt/30w5SKF

The Venture Minerals Limited (ASX: VMS) share price is off to the races today.

Shares in the ASX resource explorer are up 16.67% at time of writing, having earlier posted intraday gains as high as 27%.

Below we take a look at the latest drill results that look to be driving ASX investor interest.

What drill results were reported?

The Venture Minerals share price is surging after the company reported a record breaking drill intersection at Mount Lindsay Tin-Tungsten Project, located in Tasmania.

According to the announcement, the  drilling hit “substantial intersections of high-grade mineralisation”.

These include 147m at 1% Tin (Sn) and 0.2% Tungsten (WO3) from 90m. That remains open down the hole and Venture is still awaiting further assay results.

The intersection included a high grade zone of 45m at 2.5% Sn and 0.3% WO3 from 93m or 9m at 5.9% Sn and 0.3% WO3 from 183m.

Commenting on the drill results, Venture Minerals’ managing director, Andrew Radonjic said:

This new drilling at Mount Lindsay, focused on the high-grade zones, is starting to unveil the exceptional value that Mount Lindsay truly holds. At current metal prices, this 147-metre drill intersection has an average recovered value of AU$680 per tonne, taking into account metallurgical recovery test work from our previous feasibility study. This high value per tonne makes Mount Lindsay a very attractive proposition for underground mining.

The company noted that the Mount Lindsay Project has been classified by the Australian government as a Critical Minerals Project with an advanced Tin-Tungsten asset.

Venture Minerals share price snapshot

Following a strong run into the early winter, the Venture Minerals share price has been struggling since July. Year-to-date shares are down 24%. That compares to a 10% gain posted by the All Ordinaries Index (ASX: XAO) in 2021.

Over the past month the Venture Minerals share price is down 16%.

The post Venture Minerals (ASX:VMS) share price rocketing 17% on these record results appeared first on The Motley Fool Australia.

More reading

• The Venture Minerals (ASX:VMS) share price is venturing 10% higher 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.

from The Motley Fool Australia https://ift.tt/3IVNZpQ