The Wesfarmers Ltd (ASX: WES) share price is in the green on Thursday and currently changing hands at $56.80, up 0.26%.

This follows news that the conglomerate has sweetened its offer to acquire Australian Pharmaceutical Industries Ltd (ASX: API) today.

There’s a bit of history here, so let’s investigate further.

What went down today?

Wesfarmers revised its indicative proposal to acquire Australian Pharmaceuticals after the healthcare company rejected the original $1.38 per share proposal back in July.

Wesfarmers wants to buy 100% of the company’s outstanding shares and is offering $1.55 per share under a revised scheme arrangement.

This represents a 22% premium to the pharmaceutical company’s closing price on Wednesday. It’s also a 35% premium to its share price on 9 July when the original offer was made.

The Australian Pharmaceuticals board intends to unanimously recommend the revised proposal, which is still subject to due diligence by Wesfarmers.

The board will back the deal if no superior offers are made in the foreseeable future. The board will also seek the opinion of an independent expert, according to the release.

If everything comes back clear, it will be all systems go to get the deal done, it appears.

What’s next for the Wesfarmers share price?

The deal is still subject to a number of conditions, including satisfactory completion of due diligence.

They also need clearance from the Australian Competition and Consumer Commission (ACCC) and full backing from the API board.

Wesfarmers shareholders don’t have to do anything right now. However, the next moves will no doubt have some impact on the Wesfarmers share price.

The company has until 16 October to complete its due diligence. After that, both parties will enter into a binding offer if everything is satisfactory.

That’s a key date for shareholders of both companies to keep pencilled in.

Wesfarmers share price snapshot

The Wesfarmers share price has had a choppy year to date but has gained 9.9% since January 1.

Wesfarmers shares are up by about 25% over the past 12 months. This is in line with the return of the S&P/ASX 200 index (ASX: XJO) over the same time.

The post Wesfarmers (ASX:WES) share price edges higher on sweetened API bid appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra unveils T25 strategy, Wesfarmers’ API offer
• How does the Wesfarmers (ASX:WES) dividend compare to Woolworths?
• Why has the Wesfarmers (ASX:WES) share price tumbled 14% in a month?
• Own Wesfarmers (ASX:WES) shares? It’s about to be payday…for you and the CEO
• Why the Woolworths (ASX:WOW) share price has outperformed Wesfarmers so far this year

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 shares of and has recommended 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 Austal Limited (ASX: ASB) share price is finding its feet on Thursday. This follows the appointment of a new president of the company’s United States operations.

In morning trade, shares in the defence vessel constructor are lurching higher. Currently, the Austal share price is fetching $1.76, up 4.45%. However, this is still a far cry from its position only a month ago. The company’s value has been stuck in a downtrend, resulting in a near 30% erosion over the past 4 weeks.

Let’s take a look at the latest appointment, as well as some developments in the Australian military space.

Fresh-ish eyes at the helm

They say change can be as good as a holiday. Austal shareholders are likely hoping this holds true with the most recent change in the company’s ranks.

According to its announcement, Austal’s board of directors have appointed Rusty Murgaugh as president of Austal USA. This decision was effective as of 9 September 2021, putting Murgaugh at the helm for a week already.

The newly appointed president began his time at Austal in 2017 as chief financial officer. While the announcement marks a ‘newly’ appointed president, Murgaugh has been serving as interim president since February 2021. During this time, the now President led an operational expansion, adding steel shipbuilding to the company’s manufacturing capability.

Commenting on the appointment, Austal CEO Paddy Gregg said:

Rusty has overseen a number of significant, positive developments at Austal USA in a short period of time, including the start of construction of new infrastructure to enable steel shipbuilding; and new contracts that position the company exceptionally well for further growth. I congratulate him on his appointment and look forward to working with him to achieve further success in the US and international markets.

New defence developments

In other defence-related news, reports from ABC News state that Australia has announced plans to acquire a nuclear submarine fleet. Although there is no direct connection between Austal and this announcement, investors might be speculating over the potential ripple effects to defence shares. However, there is nothing set in stone to give surety for influencing the Austal share price.

The move by Australia is part of its newly formed security partnership, known as AUKUS. As you might have guessed from the acronym, this involves Australia, the United Kingdom, and the United States.

Speaking at the announcement, Australian Prime Minister Scott Morrison stated:

Over the next 18 months, we will work together to seek to determine the best way forward to achieve this. This will include an intense examination of what we need to do to exercise our nuclear stewardship responsibilities here in Australia.

Austal share price snapshot

It has been a slobber-knocker of a year for the Austal share price. Over the past 12 months, the company’s shares have lost roughly 46% of their value. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has conjured up a 25.4% gain.

As a result, Austal currently trades on a price-to-earnings (P/E) ratio of 7.72 times.

The post Why the Austal (ASX:ASB) share price is lifting today appeared first on The Motley Fool Australia.

More reading

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• Austal (ASX:ASB) share price sinks 13% on weak FY21 result

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

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ASX 200 giants are holding ground on Thursday despite the falling iron ore price.

The price of iron ore has slipped to trade at US$124.16 per tonne today.

That represents a slump of more than 23% since this time last month. It also marks a significant decline from the 52-week high of US$233 per tonne, which it hit in May.

Interestingly, as the price of iron ore falls, the share prices of ASX 200 resources giants Rio Tinto Limited (ASX: RIO) and BHP Group Ltd (ASX: BHP) are in the green. Fortescue Metals Group Ltd (ASX: FMG) has slipped slightly in early afternoon trading.

Let’s take a look at what might be causing iron ore price to struggle.

Why is the iron ore price lower today?

The iron ore price struggled overnight as news from China seemingly dampened demand for the commodity.

According to Reuters, China released a report stating its steel output reached its lowest point since March 2020 last month.

China produced 83.24 million tonnes of steel in August, 4% less than it produced in July and 12% less than it did in the previous comparable period.

As China is the world’s largest steel producer, it imports a huge proportion of the globe’s iron ore.

In fact, according to the Minerals Council of Australia, around 80% of the iron ore exported from Australia goes to China.

China’s lower steel production will likely impact demand for iron ore and it has seemingly already debased confidence in the commodity.

However, China’s news hasn’t stifled the share prices of ASX 200 iron ore producers.

How are ASX 200 resource giants performing?

The BHP share price is tracking well today. The price of iron ore hasn’t notably affected its share price, which has gained 1.9% this morning. Investors can get their hands on a piece of BHP for $41.02.

The Rio Tinto share price has recovered from a poor start to this morning’s trade. Its currently 0.57% higher than its previous close, trading for $105.24.

After rebounding this morning, the Fortescue Metals share price has since slipped and is currently trading at $17.72, down 0.56%.

The post ASX 200 resources giants lift despite plummeting iron ore price appeared first on The Motley Fool Australia.

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

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The Lotus Resources Ltd (ASX: LOT) share price is advancing today following a positive update at the Milenje Hills Rare Earth Prospect.

During morning trade, the mineral exploration company’s shares broke into uncharted territory, touching the 35-cent mark. However, investors decided to quickly take profit off the table, leading its shares lower.

At the time of writing, the Lotus share price is up 1.59% to 32 cents apiece.

What did Lotus announce?

In a statement to the ASX, Lotus advised it has commenced exploration activities at the Milenje Hills Rare Earth Prospect in Malawi.

The new work program follows the significant discovery of high-grade rare earth oxide (REO) material in February. Lotus noted that from the 22 mineralised samples collected, REOs came up to 16%, with critical REOs up to 3.4%.

The 2021 program will see a number of works undertaken to determine the best path forward for Lotus. These include:

• Extension of the geophysical dataset to include additional survey lines over the large anomaly identified in initial work;
• Mapping in the broader area to define new mineralised zones;
• Additional trenching with an excavator in new zones as well as deepening some of the previous trenches;
• Reverse circulation (RC) drilling of up to 2,000 metres to follow up on selected anomalies and mineralised zones;
• Mineralogical test work and sizing (expected to commence in Q4 FY21); and
• Initial physical beneficiation tests (expected to commence in Q4 FY21).

Lotus managing director Keith Bowes commented on the news possibly driving the Lotus share price:

Whilst the company remains firmly focused on the development and recommencement of production at the Kayelekera Uranium Mine, we believe the Milenje Hills Prospect has the potential to add real value to the company for minimal expenditure.

Clearly, the initial results encountered at Milenje Hills were extremely encouraging, given both the grade and assemblage of rare earth minerals. The current work program will provide us with an enhanced understanding of the overall potential of Milenje Hills, prior to determining the optimal path forward to realise value for shareholders.

About the Lotus share price

Up until late August, Lotus shares were treading mostly sideways over the 12-month period.

However, in the past week, the Lotus share price has accelerated by around 50%. This has led its shares to record a year-to-date gain of 150% for investors.

The post Lotus Resources (ASX:LOT) share price jumps on rare earths update appeared first on The Motley Fool Australia.

More reading

• The Lotus Resources (ASX:LOT) share price is up 35% in a week
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The author Aaron Teboneras 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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ASX uranium shares are going nuclear after uranium spot prices jumped to 9-year highs of US$48/lb according to S&P Global Platts. A month ago, uranium was fetching for just ~US$30/lb.

ASX uranium shares going parabolic

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN) has surged 115% to fresh 9-year highs in the past month.

The gains have tricked all the way down to small cap explorers such as 92 Energy Ltd (ASX: 92E) and Peninsula Energy Ltd (ASX: PEN), which have both more than doubled since August.

Even after a 60% jump in uranium prices, some analysts think that the uranium market has more legs to run.

What’s driving uranium?

The recent jump in ASX uranium shares and spot prices has largely been driven by Sprott Inc’s Physical Uranium Trust, listed on Canada’s Toronto stock exchange.

The fund has been actively buying physical uranium off the spot market, driving demand and tightening supply.

Kitco reported that the fund has bought 24 million pounds of uranium since mid-August, representing “about 14% of global reactor consumption”.

Kitco also highlighted that the “new demand in the marketplace has attracted new momentum players to the market, including retail investors from Reddit’s WallStreetBets, a popular financial discussion forum.”

Uranium market is “just leaving the station”

According to Kitco, some analysts have likened the uranium market as “a freight train that is just leaving the station as growing demand in a relatively tight market sparks a surge in prices.”

In an interview with Kitco News, Waaren Irwin, founder of Rosseau Asset Management said “the supply and demand outlook for uranium looked fantastic before Sprott came into the market.”

“The trust has come in and moved the inevitable rally forward a year or two.”

Irwin said that uranium plays into the global shift towards renewables and green energy. And that uranium demand will continue to grow on the backdrop of tight supply.

The post ASX uranium shares boom to multi-year highs, bull market is just getting started: analyst appeared first on The Motley Fool Australia.

More reading

• The Paladin Energy (ASX:PDN) share price rockets 5% to 9-year high. Here’s why
• 92 Energy (ASX:92E) share price jumps 11%, up 400% since IPO. Here’s why.
• Is there a uranium ETF listed on the ASX?
• Why are ASX uranium shares in focus today?
• Which ASX 300 shares are on the move mid-week?

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

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It has been another positive day for the Zoom2u Technologies Ltd (ASX: Z2U) share price on Thursday.

The recently listed delivery management software provider’s shares jumped 28% to a record high of 83.5 cents this morning.

When the Zoom2u share price reached that level, it meant it had gained almost 320% since its IPO last Friday.

Why is the Zoom2u share price storming higher?

The catalyst for the rise in the Zoom2u share price today has been the release of an investor update.

According to the release, the company has signed its first enterprise customer for its Locate2u platform, Amart Furniture.

Zoom2u will provide Amart with access to the Locate2u software as a service (SaaS) technology platform for an initial 24-month term. After which, Amart will have the option to extend the term for a further two, 12-month periods.

Either party may terminate this agreement, with or without cause, upon 90 days’ written notice.

The release notes that Locate2u will enable Amart’s drivers to provide efficient and transparent delivery of products directly to the retailer’s customers.

However, it is worth noting that the revenue derived from the Amart agreement is not expected to have a material impact on the financial performance of the company in FY 2022. Though, that clearly hasn’t stopped investors bidding the Zoom2u share price materially higher today.

Anything else?

Also giving the Zoom2u share price a lift was news that it has entered into an agreement with Bing Lee for access to the Zoom2u Platform.

Bing Lee will use the platform to enable the fast delivery of selected goods to consumers.

The release notes that the agreement is based on Zoom2u’s standard customer contract and does not have a termination date. Zoom2u will receive standard transaction fees for each delivery completed for Bing Lee. It also stressed that there are no minimum delivery quantities pursuant to this agreement, nor is it an exclusive arrangement.

Finally, management advised that FY 2022 has started strongly. And while it acknowledges that lockdowns are supporting its growth, it remains “confident that it will continue to drive growth, delivering sustained operational performance for shareholders in FY22 and beyond.”

The post Why the Zoom2u (ASX:Z2U) share price is rocketing 28% higher today appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Jupiter Energy Limited (ASX: JPR) share price surged today after it signed a key infrastructure deal.

Such announcements don’t usually trigger such excitement among ASX investors. But the agreement will allow the junior oil explorer to unlock value in its Kazakh assets.

This explains the 123% surge in the Jupiter Energy share price to a more than one-year high of 7.8 cents at the time of writing.

Jupiter Energy share price surges on infrastructure deal

The binding framework agreement was signed with Kazakh registered Sleipnir Technologies. It sets a timetable for the development and lodgement of a detailed project development plan that will provide Jupiter Energy with the appropriate infrastructure to achieve 100% gas utilisation on the Akkar North (East Block), Akkar East and West Zhetybai oilfields.

Under Kazakh law, oil and gas wells can only be granted a Commercial Production License if they have the right infrastructure in place. Then only can the well operator sell to international markets.

Current output limited by license restrictions

Currently, Jupiter Energy can only sell oil to the Kazakhstan domestic market as it operates under a Trial Production Licence or during the “Preparatory Period” as it transitions to a full commercial license.

“During the ‘Preparatory Period’, Jupiter is able to produce from any well located on a field with an approved Commercial Production Licence without having the requisite gas utilisation infrastructure in place, only if all excess gas that is produced during production is used on the field for power, heating and the like,” said Jupiter Energy.

“Jupiter’s production is therefore already currently constrained on the Akkar North (East Block) and Akkar East fields as both fields are operating under ‘Preparatory  Period’ restrictions. 

“The West Zhetybai field has just commenced the approval process to transition from Trial Production to Commercial Production and when this approval process is complete, the West Zhetybai field will return to production, also under ‘Preparatory Period’ restrictions, until the appropriate 100% gas utilisation infrastructure is in place.”

Production output set to increase

The Akkar East and Akkar North (East Block) fields current produce around 225 barrels of oil a day. When the West Zhetybai field returns to production, the cumulative daily output from the three oilfields should increase to 340 barrels per day.

But following the successful commissioning of the gas utilisation infrastructure, Jupiter Energy should achieve cumulative daily production from the current wells of circa 700 barrels per day.

Additional oil production could then come from future, successful, drilling on the three fields.

Jupiter Energy and Sleipnir aim to lodge the project development plan with the the Kazakh Ministry of Energy by early 1Q 2022.

The big rise in the Jupiter Energy share price on Thursday pushes its one-year gain to 30%.

The post Why the Jupiter Energy (ASX:JPR) share price more than doubled today appeared first on The Motley Fool Australia.

More reading

• ASX 200 resources giants lift despite plummeting iron ore price
• Lotus Resources (ASX:LOT) share price jumps on rare earths update
• ASX uranium shares boom to multi-year highs, bull market is just getting started: analyst
• Why the Zoom2u (ASX:Z2U) share price is rocketing 28% higher today
• 3 exciting ASX tech shares to buy this month

Motley Fool contributor Brendon Lau 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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If you’re looking to add a bit of tech exposure to your portfolio, then you might want to look at the shares listed below.

Here’s why these tech shares could be top options:

Kogan.com Ltd (ASX: KGN)

The first tech share to look at is Kogan. It is an ecommerce company which has been benefitting greatly from the shift to online shopping. And while inventory issues hit its margins significantly in FY 2021, this is only expected to be a short term headwind. After which, Kogan and its businesses appear well-placed to benefit from the structural shift online.

Credit Suisse has an outperform rating and $14.06 price target on its shares. Its analysts remain confident in Kogan’s long term growth prospects.

PointsBet Holdings Ltd (ASX: PBH)

Another tech share to consider is PointsBet. It is a growing sports wagering operator and iGaming provider. PointsBet offers innovative sports and racing betting products and services via a scalable cloud-based platform. It currently operates in the ANZ and United States markets and has delivered significant growth in both. Positively, it is still only scratching at the surface of its massive opportunity in the lucrative US market.

Goldman Sachs is a big fan of PointsBet and currently has a buy rating and $14.75 price target on its shares. The broker believes it can grow at a rapid rate over the coming years.

Zip Co Ltd (ASX: Z1P)

A final tech share to look at is Zip. This buy now pay later (BNPL) provider has been growing at a rapid rate over the last few years thanks to the popularity of the payment method with consumers and merchants and its global expansion. Zip is now expanding its offering to give users access to savings accounts and even cryptocurrency.

The team at Jefferies are happy with the company’s strategy. Earlier this week, the broker put a buy rating and $8.28 price target on its shares. Jefferies believes Zip’s shares are cheap in comparison to its rivals.

The post 3 exciting ASX tech shares to buy this month appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra unveils T25 strategy, Wesfarmers’ API offer
• PointsBet (ASX:PBH) share price falls amid ‘exclusive’ agreement
• Top broker says Zip (ASX:Z1P) share price can rise 22%
• Down 4%, why the PointsBet (ASX:PBH) share price is close to 12-month lows
• ASX 200 rises, Zip falls, Brambles sinks

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 Kogan.com ltd, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended 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 Metal Hawk Ltd (ASX: MHK) share price has soared into the green today.

In early trade, the mining company’s shares shot up by more than 20% to 94 cents. However, at the time of writing, they are changing hands for 78.5 cents, a 3.3% gain on the previous close.

The moves come after the company released an investor presentation regarding its Berehaven Nickel project.

Let’s dive in to investigate further.

What did Metal Hawk announce in its investor update?

In what’s been deemed a positive for the Metal Hawk share price today, the company gave a more comprehensive overview of its “massive” nickel sulphide discovery at the Berehaven site.

Metal Hawk stated there is “tremendous further discovery upside” with little to no previous exploration at the tenure.

In fact, the Western Australia site was “predominantly held previously by gold companies”, as per the release.

Labelled the “Commodore Nickel Discovery”, Metal Hawk intersected a “massive nickel sulphide” discovery in its maiden reverse circulation (RC) drilling program at the site, at 144 metres in its 2nd hole.

The Metal Hawk share price has soared by more than 300% since the company announced this discovery. This makes sense too, given the recent price nickel has been fetching in the commodity markets.

Nickel is currently trading in line with 5-year highs achieved earlier this year in February, at more than US$19,600/tonne.

Metal Hawk also highlighted that it has “up to $9.75 million in joint venture (JV) expenditure across multiple projects”. It also has earn-in projects with Chalice Mining Ltd and Western Areas Mining Ltd to “fund aggressive exploration”.

Next up for the company is its diamond drilling program to commence on 21 October, with additional assay results also expected in “early October”. It appears to be a busy couple of months ahead for the company.

Metal Hawk share price snapshot

The Metal Hawk share price has exploded over the past few days, after the announcement of a key nickel discovery earlier in the week.

Prior to this, it was trading sideways, without much excitement either way.

Nonetheless, the Metal Hawk share price is up more than 300% over the past week. It is also up more than 200% this year to date.

The post Metal Hawk (ASX:MHK) share price jumps following investor update appeared first on The Motley Fool Australia.

More reading

• Metal Hawk (ASX:MHK) share price closes 265% higher on action-packed day
• Metal Hawk (ASX:MHK) share price explodes 256% on huge nickel discovery

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 Predictive Discovery Ltd (ASX: PDI) share price has struck proverbial gold. At the time of writing, shares in the gold miner are trading for 14.7 cents per share – up 8.89%.

The positive price rise comes after the company announced the discovery of a “high-grade” gold zone at one of its mines.

Let’s take a closer look at today’s news.

Predictive Discovery share price rises on latest announcement

In a statement to the ASX, Predictive Discovery released the results from 3 drill holes at its Bankan Gold Project in Guinea.

Highlights of these results included:

• a 26m wide ore with 7 grams of gold per tonne.
• a 17m wide ore with 5.9 grams of gold per tonne.
• a 38m wide ore at 3.6 grams of gold per tonne.

According to the company, “reinterpretation” of earlier holes and ongoing drilling in new holes have been recognised as high-grade gold deposits. The north-east zone of Bankan “continues to shape up” as a large gold deposit, according to the company. Average grades exceed 5 grams per tonne.

Going forward, 2 more drill sites are due to announce results as well extending the strike length of existing drill sites.

The Mineral Resource Estimate (MRE) process for NE Bankan and Bankan Creek is well underway and the MRE is expected to be released in late September 2021.

Management commentary

Predictive Discovery Managing Director, Paul Roberts, said

These exciting new results confirm that the NE Bankan central high-grade gold zone is persisting to 400 metres vertical depth over a strike length of more than 100m and has obvious potential to grow further both to the south and at depth.

Gold commodity price

While the price of gold is down 5.46% since the beginning of the year (US $1,794 per troy ounce as of writing), it’s down an even larger 7.67% over the last 12 months.

The website Trading Economics is forecasting the price of gold to fall to about US $1,765 per troy ounce by the end of the quarter and to about US $1,700 per troy ounce in 52-weeks’ time.

Predictive Discovery share price snapshot

Over the past 12 months, the Predictive Discovery share price has increased 110%. Year-to-date it is up an even greater 145%. This is despite the falling gold price.

Predictive Discovery has a market capitalisation of about $200 million.

The post Why the Predictive Discovery (ASX:PDI) share price is rocketing 9% appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Sidarous 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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