The Deep Yellow Limited (ASX: DYL) share price has ended its miraculous run today.

Shares in the uranium explorer have tanked 18% in today’s session.

Let’s take a look at why investors are dumping their shares in Deep Yellow.  

Why is Deep Yellow tanking?

Deep Yellow has not released any price-sensitive news today that could explain why its shares are tanking.

As a result, shares in the uranium explorer have been on the receiving end of general weakness in the broader uranium sector.

Last Friday, the Global X Uranium ETF (NYSE: URA) tumbled more than 7.5%.

The fund invests in a broad range of companies engaged in uranium mining, including Deep Yellow.

As a result, most uranium players on the ASX, including Deep Yellow, have been deep in the red today.

What’s been fuelling the uranium sector?

Before Friday’s pullback, spot prices for uranium rallied 60% over the past month to hit 9-year highs.

The spot uranium price touched $50 last week for the first time since 2012.

The driving force behind the resurgence in the uranium sector has been aggressive buying from the world’s largest uranium fund, Sprott Physical Uranium Trust (TSE: U.U).

This euphoric price action was reflected in the Deep Yellow share price, which hit a record high of $1.37 last week.

Snapshot of the Deep Yellow share price

Deep Yellow explores uranium mineral properties and has pre-development activities in Namibia and the states and territories of Australia. 

The company has various exploration prospects, including its cornerstone Tumas Project in Namibia.

Deep Yellow recently completed drilling at its Tumas 1 East site. The company reported an impressive conversion rate of inferred mineral resources to indicated mineral resources of 102%.

On the back of a surging uranium spot price, shares in Deep Yellow bordered on vertical last month.

Upon closing Friday’s session at $1.37, Deep Yellow shares had surged more than 72% since the start of September.

The uranium explorer has given back much of those gains, tanking more than 18% in today’s session.

At the time of writing, the Deep Yellow share price is trading near its intra-day low of $1.13.

The post Why the Deep Yellow (ASX:DYL) share price is tanking 18% today appeared first on The Motley Fool Australia.

More reading

• Why ASX uranium shares are diving double-digits on Monday
• Deep Yellow (ASX:DYL) share price jumps 6% to 8-year high. Here’s why.
• Is there a uranium ETF listed on the ASX?
• Why are ASX uranium shares in focus today?
• Here’s why the Deep Yellow (ASX:DYL) share price is up 50% this month

Motley Fool contributor Nikhil Gangaram 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 Rio Tinto Limited (ASX: RIO) share price has slipped firmly into the red as we commence the week’s trading today.

Rio shares are now changing hands at $93.58, a 5% drop from the open, and a further 12% decrease over the last week.

Rio’s share price is swimming in a sea of red, so let’s investigate further.

What’s up with the Rio Tinto share price lately?

The Rio Tinto share price is likely tanking on the back of a downward spiral in the price of iron ore, that has spurred on since July. Take one look at iron ore’s chart, and you see it’s on a bee-line straight to the south pole.

The spot price of iron ore has come down 53% since mid-July from highs of around US$222/Tonne (T), and now trades at US$104.50/T. That’s an even further 8% drop on the day.

Prior to this, iron ore went on a steep run from November 2020, to fetch a record high of US$230/T in May 2021. However, the recent drop is now well below the lowest price levels seen since August 2020 – and the trend is continuing.

What’s causing this rapid selloff in the iron ore markets? It appears to boil down to steel production curbs imposed from the worlds biggest steelmaker, China, that started back in 2020 and have continued to date.

There are a number of instigators of this policy, most notably to curb CO2 emissions. However, the most recent downstep in production came from a sharp downturn in the Chinese property sector (including the largest property developer Evergrande facing a default on its US$300 billion in debt), which has flowed through to steel demand.

Aside from this, the recent push away from fossil fuels and carbonisation towards renewable energy has weighed in on steel and iron ore production.

Iron ore miners are also withholding on new explorations, and divesting away from traditional operations into “green” alternatives.

Rio Tinto is in a unique position, in that it is an ASX resource share that produces a commodity. In that sense, its share price is expected to fluctuate with this kind of volatility in the broader commodity markets.

Given this relationship, and the fact the price of iron ore has decreased by around $120 since July, it starts to make sense why the Rio Tinto share price is trading down today.

Investors continue selling Rio’s shares to avoid catching the falling knife – as such, the Rio Tinto share price is down 13% over the last month as well.

Rio Tinto share price snapshot

The Rio Tinto share price has had a horrendous year to date, posting a loss of 18% since January 1. This extends its loss over the past 12 months to 7%.

Both of these results have lagged the S&P/ASX 200 index (ASX: XJO)’s return of around 25% over the past year.

The post Rio Tinto (ASX:RIO) share price craters as iron ore hits US$100 a tonne appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Why this fund manager is ditching Rio Tinto for BHP (ASX:BHP) shares
• 5 things to watch on the ASX 200 on Monday
• Use the sharp commodity sell-off to buy these ASX 200 mining shares
• Rio Tinto (ASX:RIO) share price breaks below $100 for the first time since November 2020

The author Zach Bristow has no positions 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 Endeavour Group Ltd (ASX: EDV) share price is trading 3.4% higher at $6.65 so far today.  

By comparison, the broader S&P/ASX 200 Index (ASX: XJO) has tumbled 2.23% since the market open.

The drinks retailer has not released any price-sensitive news that could explain the bullish price action. Let’s take a look at other possible reasons why the Endeavour share price is up today.

What’s fuelling the share price lift?

There are few factors that might contribute to the Endeavour share price performance.

The company was recently added to the ASX 50 Index so it’s possible today’s price action could be a result of institutional interest.

Today’s movement may also reflect a slight market correction after the Endeavour share price has struggled in the past few weeks, likely as a result of COVID-19 lockdowns. Prior to today’s bounce, shares in the drinks company were down more than 9% since the start of the month.

As a result, shares in Endeavour have given back much of its gains after posting positive maiden FY21 results.

How did Endeavour perform in FY21?

Late last month, Endeavour released its full-year results for FY21. The company highlighted a 9.3% increase in group sales to $11.6 billion.

Other highlights included;

• Group earnings before interest and tax (EBIT) lifting 22.1% to $899 million
• Group net profit after tax of $445 million
• Final dividend of 7 cents per share

Endeavour noted that a shift to in-home consumption had fuelled retail sales 9.6% to $10,178 million.

However, the company also acknowledged that its hotel business continued to face challenging conditions due to COVID-related restrictions and associated costs.

Snapshot of the Endeavour share price

Following its demerger from Woolworths Group Ltd (ASX: WOW), Endeavour has become a separately-listed entity.

The company’s businesses comprise bottle shop chains Dan Murphy’s and BWS as well as 300 licensed venues and 12,000 gaming machines.

The Endeavour share price has lifted more than 10% since listing on the ASX in June.

The post The Endeavour (ASX:EDV) share price is lifting today appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are leading the way on Monday?
• How has the Woolworths share price performed since reporting results?
• Woolworths (ASX:WOW) share price struggles amid bricks frustration
• Canva is now worth more than Woolworths! When can we buy shares?
• How does the Wesfarmers (ASX:WES) dividend compare to Woolworths?

Motley Fool contributor Nikhil Gangaram 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) is on course to start the week with a big decline. In afternoon trade, the benchmark index is down 1.8% to 7,267 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 4.5% to $14.56. Investors have been selling the mining giant’s shares after the iron ore price pulled back again on Friday night. Unfortunately, iron ore futures are pointing to further declines during tonight’s trading session. Concerns over the potential collapse of Evergrande in China appear to be weighing on prices.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price has fallen 7% to $1.36. This morning the energy company released its full year results. In FY 2021, the company reported sales revenue of US$170.8 million and an underlying net profit of US$33.4 million.

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price is down almost 9% to 99.5 cents. The nickel producer’s shares have come under pressure today amid concerns that the company could be negatively impacted by tax changes in Indonesia. An announcement notes that on Friday, the Indonesian Investment Minister was reported as suggesting that Indonesia is exploring the possibility of levying an export tax on nickel products with less than 70% nickel content.

Orocobre Limited (ASX: ORE)

The Orocobre share price has tumbled 7% to $8.66. While broad market weakness is weighing on this lithium miner’s shares, it was also the subject of a mixed broker note out of Bell Potter. According to the note, its analysts have resumed coverage on the company with a hold rating and $9.30 price target. This was broadly in line with where its shares were trading prior to today’s decline. Bell Potter is a fan of Orocobre but felt its shares were fully valued.

The post Why Fortescue, Karoon Energy, Nickel Mines, & Orocobre shares are sinking appeared first on The Motley Fool Australia.

More reading

• Karoon Energy (ASX: KAR) share price sinks despite record profit
• Why is the Fenix Resources (ASX:FEX) share price crashing 27% today?
• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Fortescue (ASX:FMG) share price slides 6% as iron ore woes continue
• Why the Nickel Mines (ASX:NIC) share price is sinking 6% today

Motley Fool contributor James Mickleboro owns shares of Orocobre 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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The Australian government’s recent decision to leave negotiations dead in the water with French defence contractor Naval Group has cast concern on the sustainability of its workforce. Fortunately, Adelaide-based shipbuilder ASC has offered its help to workers who might be impacted by the fallout — leaving ASX investors wondering if the company is listed.

This follows Prime Minister Scott Morrison announcing a new alliance with the United States and the United Kingdom, known as AUKUS, on Thursday. As part of the alliance, Australia will do away with its previous plan of a $90 billion diesel-powered fleet made by Naval Group, in place of a new nuclear-powered fleet.

The sudden bombshell decision has left uncertainty for the 350 people employed by Naval Group in South Australia. That’s in addition to a further 40 people who had relocated to France in anticipation of the multibillion-dollar contract.

A shipbuilder in unknown waters

Plans for nuclear submarines weren’t the only thing announced by the government last week. Rather, the government also revealed a plan to extend the life of all 6 Collins Class submarines and retain full cycle docking of the fleet at Osborne, South Australia. In short, ASC will now be responsible for the extensive maintenance and upgrade of several submarines.

Additionally, in an announcement, the company noted it would work with the government to “support, train, and grow the workforce needed to build Australia’s nuclear-powered submarines”. However, the government hasn’t decided who will construct the newest fleet.

It appears the company is busier than ever at the moment. Following the Naval news, ASC broadcasted it could take on workers impacted by the contract scrapping. In fact, ASC chair Bruce Carter stated, “We will welcome them into ASC if they want to come here. We need every single person, hands on deck, at the moment.”

The positive developments for ASC has ASX investors looking for ways to capitalise. Though, at this point, the 36-year-old shipbuilding company is not tradeable on the public market. Instead, it is wholly owned by the Australian government. The last of its privately-owned shares were acquired by the government in the year 2000.

How much are ASC shares worth?

Given that ASC is not a publicly listed company, it is difficult to know how much ASC shares are worth. Luckily, the company shares its annual reports with the public. So, let’s take a look at the most recent one.

The company’s annual report for 2020 (for the year ending September 2020) shows ASC made $675.9 million in revenue during FY20. Meanwhile, its after-tax earnings came to $22.6 million. For comparison, global shipbuilding company Austal Ltd (ASX: ASB) pulled in $1,572 million in revenue and $81.1 million in earnings in FY21.

Currently, Austal is trading on a price-to-earnings (P/E) ratio of 7.7 times, giving it a market capitalisation of $616.6 million. However, the global aerospace and defence industry trades on an average of 29.8 times earnings.

Based on this, if ASC was a public company, it could be valued somewhere between $174 million to $673 million.

Can you invest in ASC on the ASX?

As we’ve pointed out, ASC is government-owned and not listed on the ASX. However, there are alternative investments available to keen defence investors. As previously mentioned, Austal is an ASX-listed shipbuilder that would likely give an investor close resemblance to ASC.

On the other hand, there are many other listed companies operating in defence more broadly. For example, these include Electro Optic Systems Ltd (ASX: EOS) and Droneshield Ltd (ASX: DRO).

The post Is shipbuilder ASC listed on the ASX? appeared first on The Motley Fool Australia.

More reading

• Prescient Therapeutics (ASX:PTX) share price leaps 11%, up 50% in a month
• Why is the ASX All Ordinaries (ASX:XAO) struggling lately?
• Which ASX 300 shares are leading the way on Monday?
• Pointerra (ASX:3DP) share price lower despite new contract wins
• Infinity Lithium (ASX:INF) share price leaps 9% on project update

Motley Fool contributor Mitchell Lawler owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Austal Limited, DroneShield Ltd, and Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended DroneShield 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 S&P/ASX 200 index (ASX: XJO) has started the week in the red and is currently down 2% to 7,252.6 points.

Whereas the S&P/ASX 200 Health Care index (XHJ) is also around 1% in the red today, one ASX Healthcare share is outpacing the broad indices.

Clinical research company Prescient Therapeutics Ltd (ASX: PTX)’s shares are now changing hands at 30 cents apiece, which is an 11% gain from the market open today.

Let’s take a closer look at what’s propelling the Prescient share price in today’s session.

What’s up with the Prescient Therapeutics share price today?

Prescient’s shares have been on the move since the company reported its FY21 earnings last month.

In its report, the company saw a 6% decrease in revenue from the previous year and increased its loss after tax by 25%.

It also raised a bunch of capital and grew its net assets by almost $10 million year over year as a result.

However, being a clinical stage biotechnology company, Prescient is less concerned with revenue and profits than it is with clinical trial results. So it’s important to hone in on this to get an accurate snapshot of what’s behind the company’s share price.

The company’s lead drug candidates, PTX-100 and PTX-200 have each progressed through initial phase stages of clinical trials and shown positive results.

Both compounds are aimed at the treatment and prevention of cancer, by blocking the growth of tumours in the body.

In its FY21 earnings release, Prescient advised that PTX-100 successfully completed Phase 1b trials in FY21, with the label “yielding encouraging results”.

PTX-200 is currently in a Phase 1b trial investigating its safety and efficacy in patients with a complex condition known as relapsed and refractory acute myeloid leukaemia (AML).

More information concerning the next stages of both candidates is expected over the coming periods.

Aside from this, another key takeout from Prescient’s year in FY21 was the development of its OmniCAR platform.

OmniCAR was created to overcome some of the challenges and limitations of CAR-T treatments – a new type of intervention used in immunotherapy and the treatment of cancer.

The company made significant developments in this area over the course of FY21, marking another step forward in its clinical and growth narratives.

Investors certainly appear to have bought the Prescient Therapeutics share price on this clinical momentum, pushing it 58% higher in the few weeks since the company released its FY21 performance.

Prescient Therapeutics share price snapshot

The Prescient Therapeutics share price has posted a year to date return of 348%, extending its gain over the past 12 months to 341%.

Over the last month alone, it has climbed a further 54% into the green.

Each of these results has far outpaced the broad index’s climb of around 25% over the past year.

The post Prescient Therapeutics (ASX:PTX) share price leaps 11%, up 50% in a month appeared first on The Motley Fool Australia.

More reading

• Prescient Therapeutics (ASX:PTX) share price up 5% on Thursday

The author Zach Bristow has no positions 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 certainly hasn’t been a pleasant month or so for the All Ordinaries Index (ASX: XAO). Since the All Ords last peaked at 7,902 points on 13 August, the ASX’s oldest share market index has shed around 4% of its value. Much of this loss has occurred over just the past few trading days. The All Ords has now lost around 2.3% since just last Thursday.

So what’s going on here?

Well, the All Ordinaries is an ASX index that covers 500 of the largest companies on the ASX boards. But (like most indexes), it is also weighted by market capitalisation. That means the largest companies have a bigger weighting and impact on the All Ords than the smaller ones.

How is the ASX All Ordinaries constructed?

As it stands today, the 10 largest ASX shares in the All Ords are as follows (as of 31 August):

1. Commonwealth Bank of Australia (ASX: CBA)
2. CSL Limited (ASX: CSL)
3. BHP Group Ltd (ASX: BHP)
4. Westpac Banking Corp (ASX: WBC)
5. National Australia Bank Ltd. (ASX: NAB)
6. Australia and New Zealand Banking Group Ltd (ASX: ANZ)
7. Wesfarmers Ltd (ASX: WES)
8. Fortescue Metals Group Limited (ASX: FMG)
9. Macquarie Group Ltd (ASX: MQG)
10. Woolworths Group Ltd (ASX: WOW)

So you can already see that the major ASX banks, BHP and CSL are the heavy hitters of the ASX All Ords.

So let’s see how these ASX shares have fared since 13 August.

Since that date, CBA shares have lost a little more than 2.5% of their value. Westpac is down by 3.1%, whilst NAB has lost a far smaller 0.8%. ANZ takes the cake with a steep loss of roughly 7.7%.

CSL bucks the trend. This healthcare company has managed a healthy increase over the period in question, gaining a robust 3.33% since 13 August and today (so far).

BHP share price lets the team down

BHP takes the cake though. It has lost a very nasty 29.3% since 13 August. As such, we have the BHP share price to blame for most of the ASX All Ordinaries’ disappointing performance over the past month and a bit.

Why this steep fall for BHP shares? Well, the iron ore price has collapsed over the past few months. Iron ore is today trading back at roughly US$100 a tonne. But as recently as May, it was at record highs of more than US$230 a tonne. This steep fall in the pricing of this commodity clearly damages the profitability prospects of the ASX’s iron ore miners, of which BHP is the largest.

However, we are also seemingly seeing history repeating itself.

Many an investor would have heard the old investing proverb ‘Sell in May and go away’. It’s the idea that the months following May are almost always a bad time to have your money in the share market. So if you ‘sell in May and go away,’ you can avoid this seasonal slump.

Well, a recent article from MarcusToday puts some credibility to this theory. According to the article, the All Ords has averaged a return of roughly 6.5% for the 6 months before May ever since 1982. For the 6 months following May, the All Ords has instead returned an average of just 1.5% since 1982.

The All Ord’s performance over the past month or two has certainly fed into these averages.

Even so, that’s cold comfort for ASX All Ords investors today. So just blame BHP and falling iron ore prices!

The post Why is the ASX All Ordinaries (ASX:XAO) struggling lately? appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Why this fund manager is ditching Rio Tinto for BHP (ASX:BHP) shares
• The CSL (ASX:CSL) share price has had a good 6 months. Is it a buy?
• The BHP (ASX:BHP) share price is down 5% in a week, what’s next?
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 300 Index (ASX: XKO) is off to a poor start on Monday, erasing all of last week’s gains.

During afternoon trade, the ASX 300 is down 1.54% to 7,294 points. Currently, the index is around 4.5% off its all-time high of 7,625 points reached on 13 August.

Let’s take a look at which ASX companies are the biggest movers today.

AusNet Services Ltd (ASX: AST)

The Ausnet share price is rocketing 17.93% to $2.335 in early afternoon trade.

The energy provider received a non-binding offer from Brookfield Asset Management to acquire 100% of its shares at $2.50 apiece. This represents 26% premium to Ausnet’s last closing price of $1.98 and a 35% premium to its 30-day volume-weighted average share price (VWAP).

Ausnet has decided to let Brookfield conduct due diligence on an exclusive basis to put forward an offer.

Novonix Ltd (ASX: NVX)

The Novonix share price is storming 4.83% to another all-time high of $4.29.

The company hasn’t released any market-sensitive news of late, however, anticipated demand in lithium-ion batteries seems to be the catalyst. Furthermore, the spot price for lithium carbonate has roared to 153,000 Chinese yuan per metric tonne (roughly A$32,700).

Novonix has also been added to the ASX 300 Index today after surging in value due to investor interest.

Endeavour Group Ltd (ASX: EDV)

Another strong mover for the start of the week is the Endeavour share price, up 3.42% to $6.66.

The drinks company hasn’t released any price-sensitive news to the ASX since its full-year results late last month.

It appears investors are buying up Endeavour shares after they hit a monthly low of $6.43 on Friday. Its shares were recently trading as high as $7.50 in August.

And which ASX 300 companies are heading the other way?

Champion Iron Ltd (ASX: CIA)

Freefalling today is the Champion Iron share price, down a sizeable 14.38% to $4.375.

The iron ore miner’s shares are coming under pressure following weakness in the spot price of iron ore. The steel-making ingredient’s price has fallen by more than 23% over the past month.

Paladin Energy Ltd (ASX: PDN)

Also being weighed down by investors today is the Paladin share price, down 15.53% to 87 cents.

The uranium company’s shares are plunging after investors are largely taking profit off the table. Its shares rose to incredible highs over the last few weeks, reaching a multi-year high of $1.12.

It is worth noting that the company’s share price is up 520% since this time last year and above 260% year-to-date.

The post Which ASX 300 shares are leading the way on Monday? appeared first on The Motley Fool Australia.

More reading

• Novonix (ASX:NVX) share price leaps to another new all-time high
• Why ASX uranium shares are diving double-digits on Monday
• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Why the Paladin Energy (ASX:PDN) share price is down 15% on Monday
• Ausnet (ASX:AST) share price rockets 20% on fresh takeover bid

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

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The Pointerra Ltd (ASX: 3DP) share price is under pressure on Monday.

At the time of writing, the 3D geospatial data technology company’s shares are down 5.5% to 50.5 cents.

Why is the Pointerra share price falling?

Investors have been selling down the Pointerra share price after broad market weakness offset the release of a positive announcement.

According to the release, the company has won a number of contracts during September. This includes a $1.55 million contract with Florida Power & Light across four projects.

In addition, the company has signed contracts with Pacific Gas & Electric and Gridvision worth ~$0.25 million each.

What are the contracts covering?

The deal with Florida Power & Light includes a vegetation growth predictive analytics project. This will study and model the likely impact on powerline infrastructure of growth in vegetation adjacent to the powerline network over a 16-month period.

Using multiple aerial captures with multiple sensors over the project period, Pointerra3D will model change (delta) in vegetation growth and use the delta combined with species detection analytics to predict vegetation growth.

Management notes that the expected outcome for Florida Power & Light is better scheduling of vegetation management activities, which is a significant part of the utility’s ongoing network asset management operations.

In addition, other projects with Florida Power & Light include weather related network change detection and the demonstration of the integration of IkeGPS Group Ltd’s (ASX: IKE) highly regarded Poleforeman utility pole engineering software into Pointerra3D.

What else?

The contract with Pacific Gas & Electric is similar to the main Florida Power & Light contract. It is a vegetation management analytics project.

Whereas, finally, the contract with Gridvision is for mine powerline data capture and analytics campaigns for the power infrastructure network of a global tier-one miner’s Australian operations.

Management believes the endorsement of the Pointerra3D solution by electrical engineering teams could accelerate adoption and spend by its mining sector customers as other business units are exposed to the technology and how it can solve their specific challenges.

The post Pointerra (ASX:3DP) share price lower despite new contract wins appeared first on The Motley Fool Australia.

More reading

• Pointerra (ASX:3DP) share price leaps 21% as cash receipts surge
• Pointerra (ASX:3DP) share price 5% higher on triple-digit revenue growth in FY21
• 3 exciting small cap ASX shares to watch closely
• Pointerra (ASX:3DP) share price leaps 8% ahead of next week’s earnings

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

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The Infinity Lithium Corporation Ltd (ASX: INF) share price is soaring today after the company released news of its San José Lithium Project.

Metallurgical test work has produced bench-scale battery grade lithium hydroxide monohydrate and lithium carbonate from San José’s lithium products.

Right now, the Infinity Lithium share price is trading at 13 cents, 8.7% higher than its previous close.

Let’s take a closer look at the news driving the European lithium producer’s share price today.

Battery grade lithium produced

The Infinity Lithium share price is taking off on news of positive metallurgical test work.

The products of the company’s 75% owned San José are able to produce battery grade lithium products.

As a result, the company has begun offtake discussions with automakers and lithium-ion battery producers.

According to the company, San José’s location in Spain means it’s ready to supply lithium products to the European battery industry and related Spanish industries.

Additionally, the findings have successfully advanced Infinity Lithium’s alternative processing method for lithium bearing minerals and mineral concentrates. The company’s method is undergoing a feasibility study conducted by Dorfner’s Anzaplan. Patent applications for the process are pending.

The company is also undertaking a review of alternative extractive technologies. The review will find the best process for commercial development.

The review found 2 new and potentially feasible processes that could improve the process’ performance, cost, environmental and social requirements, as well as complexity.

Infinity Lithium has begun a laboratory-scale test work program to test the feasibility of these processes. However, it will make sure the work won’t come at the expense of its feasibility study or the delivery of lithium chemicals requested by offtake parties.

Infinity Lithium share price snapshot

Today’s gains haven’t been enough to boost the Infinity Lithium share price back into the ASX green.

Right now, the company’s share price is 26% lower than it was at the start of 2021.

However, it is 38% higher than it was this time last year.

The post Infinity Lithium (ASX:INF) share price leaps 9% on project update 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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