The Kuniko Ltd (ASX: KNI) share price is heading underground at the opening of trade on Wednesday. This is after the company released an exploration progress update this morning.

Kuniko shares are now trading at $2.25 each, a 2.16% drop from the open.

Let’s investigate what Kuniko announced and what this could mean for investors.

What did Kuniko announce?

Kuniko advised it has achieved a number of progress points at its prospective copper and cobalt projects in Norway.

Specifically, it states that field explorations at the company’s Skuterud Cobalt and Vangrofa Copper projects are now complete.

Kuniko also explains that an “airborne geophysics program” is now underway at these two sites. The airborne program is also operating at the Undal project site.

The company collected a total of 1,202 soil samples from these field explorations, according to the announcement.

Investors can expect the “initial laboratory analysis” from these sampling programs “during September and October”. Whereas data from the airborne surveys is “to be available in October 2021”.

And yet, the Kuniko share price isn’t reflecting the positive news.

What did management say?

Speaking on the announcement, Kuniko CEO Antony Beckmand said:

The launch of the airborne geophysics program is a milestone for Kuniko as we commence delivering on our commitment to apply modern exploration methods to historical battery metals resources at our project sites.

Regarding the upcoming results, Beckmand added:

We are also pleased with the progress made by our exploration field team who have been working efficiently and effectively on completing the geochemical survey programs… We look forward to sharing the results of our geophysics and geochemical surveys across September and October.

Kuniko share price snapshot

The Kuniko share price has shot up over 1,060% since listing in August, much to the delight of investors that subscribed to its initial public offering (IPO).

That return is well ahead of the Australian broad indices, including the All Ordinaries Index (ASX: XAO) loss of 2.4% over the last month.

The post Kuniko (ASX:KNI) share price drops following production update appeared first on The Motley Fool Australia.

More reading

• The Kuniko (ASX:KNI) share price is surging 20%. What’s next?
• The Kuniko (ASX:KNI) share price is on a wild ride, sliding 14% today
• Kuniko (ASX:KNI) share price soars 15% amid new CEO’s unveiling
• What’s going on with the Kuniko (ASX:KNI) share price?
• Why Blackmores, Flight Centre, Kuniko, & Qantas shares are soaring today

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 Polynovo Ltd (ASX: PNV) share price has been on a disappointing run over the past few months. The medical device company’s shares have dropped 13% in the past month and by 50% in 2021 alone.

At the time of writing, Polynovo shares are adding on their losses, down 2.27% to $1.94 in early trading today.

What’s happened to Polynovo recently?

In late August, Polynovo released its full-year results for FY21, highlighting mostly strong numbers across the board.

Total group revenue increased by 32% to $29.3 million over the prior corresponding period, underpinned by growth in key markets. This included the United States and Europe, up 49% and 53% in sales, respectively.

However, on the bottom line, Polynovo achieved a net loss after tax of $4.6 million when factoring in non-cash items. This consisted of $2.6 million in share-based payments (expensing of share options).

The overall result fell short of market expectations, leading the company’s shares to fall 4% on the day. At the end of that week, its shares had sunk around 11%.

Further weighing down the Polynovo share price was a market update last Friday.

According to the announcement, the company’s chief operating officer, Dr Anthony Kaye, resigned from his position.

Polynovo managing director Paul Brennan commented:

Anthony joined Polynovo at a critical time to help complete our new manufacturing facility, oversee the commissioning of new machinery and put in place a team to deliver best practice production processes and costs.

We are disappointed to see him go. However, Polynovo is now in an excellent “business as usual” position thanks to the structural changes and team established by Anthony.

Dr Kaye joined Polynovo from CSL Limited (ASX: CSL) and is returning to CSL in a more senior position.

Polynovo share price summary

Over the last 12 months, Polynovo shares have treaded more than 13% lower, with their year-to-date performance down by 50%.

The company presides a market capitalisation of roughly $1.3 billion with approximately 661 million shares on its books.

The post The Polynovo (ASX:PNV) share price has halved this year. What’s going on? appeared first on The Motley Fool Australia.

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• The Polynovo (ASX:PNV) share price is down 10% in a month to a 52-week low. Here’s why.
• Why Altium, Catapult, Dicker Data, & PolyNovo shares are charging higher

Motley Fool contributor Aaron Teboneras owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. and POLYNOVO FPO. 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 Fenix Resources Ltd (ASX: FEX) share price is a strong performer on Wednesday after the iron ore producer released its annual results and maiden dividend.

At the time of writing, Fenix shares are 8.62% higher than yesterday’s closing price, trading for 31.5 cents a share.

Fenix Resources share price rises on profit and dividend boom

Fenix Resources hit the ground running this year, dispatching its maiden shipment of Iron Ridge product in February 2021. Some key highlights from FY21 include:

• Total iron ore sales of 0.501 million wet metric tonnes (Mwmt), comprising of 0.242 Mwmt of lump and 0.259 Mwmt of fines
• Net profit after tax of $49.0 million
• Cash of $69.0 million at 30 June 2021
• Successful development of the Iron Ridge iron ore project, with first shipment in mid-February
• Maiden fully-franked dividend of 5.25 cents per share

What happened to Fenix Resources in FY21?

The Fenix Resources share price has rallied almost 36% year-to-date after its successful transition from explorer to producer.

Following a successful final investment decision in September 2020, Fenix Resources began producing iron ore in December 2020.

Lump and fines products were stockpiled at the Port of Geraldton in preparation for its first shipment which took place in February this year.

Following the maiden shipment, an additional 8 ships were successfully loaded in the reporting period, amounting to more than half a million tonnes of product shipped from the Iron Ridge project.

A 16% dividend payment is on the horizon

Despite boasting a market capitalisation of just $147 million, Fenix Resources managed to turn over a net profit of $49 million in addition to $69.0 million cash in the bank.

The company declared a 5.25 cents per share dividend, equating to approximately 51% of its net profit after tax.

At today’s prices, this represents a dividend yield of approximately 16.6%.

The Fenix Resources share price will go ex-dividend on Monday, 20 September with a payment date of Tuesday, 5 October.

The post Fenix Resources (ASX:FEX) share price eyes 16% maiden dividend appeared first on The Motley Fool Australia.

More reading

• Worried about iron ore prices? This ASX share has prices locked in at A$230/tonne
• Fenix Resources (ASX:FEX) share price up 7% on profit and dividend surge

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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At the time of writing, the Wesfarmers Ltd (ASX: WES) share price was down 14% over the past month.

This comes at a time of when the S&P/ASX 200 Index (ASX: XJO) has only fallen by 2.6% over that same time.

What has happened in the last month that could possibly explain this decline?

Wesfarmers goes ex-dividend

Dividends and ex-dividend dates can have an impact on short-term business valuations.

An ex-dividend date is when a new shareholder is no longer entitled to the dividend. If an investor owns shares before the ex-dividend date then they are entitled to that dividend. If the investor buy shares on or after the ex-dividend date then they’re not entitled to the declared dividend.

The Wesfarmers ex-dividend date was 1 September 2021. That means that new investors in September are not going to get the $0.90 per share final dividend. On 1 September 2021, the Wesfarmers share price actually fell around $2, or 3.3% in percentage terms.

There may also have been another catalyst. The diversified retail and industrial business reported its result and gave a trading update on 27 August 2021.

FY21 result

The actual FY21 report showed double digit growth for the company.

Excluding significant items, the continuing operations saw revenue rise 10% to $33.94 billion, earnings before interest and tax (EBIT) increased 18.8% to $3.78 billion and net profit after tax (NPAT) rose 16.2% to $2.42 billion. The underlying continuing earnings per share (EPS) also grew 16.2% to 214.1 cents.

Statutory profit, including the discontinued operations and significant items, rose by 40.2% to $2.38 billion.

There were two divisions that drove most of the increase in profit. Excluding significant items, Bunnings saw earnings before tax (EBT) increase 19.7% to $2.19 billion and Kmart Group EBT surged 69% to $693 million.

The above numbers and growth gave the board the confidence to increase the full year dividend by 17.1% to $1.78 per share.

The board has also decided it wants Wesfarmers to return capital to shareholders. The recommendation is a $2 capital return per share.

FY22 trading update

Whilst there was growth in FY21, the first weeks of FY22 saw a decline in sales.

Wesfarmers reported that in the 2022 financial year to date, Bunnings total sales were down 4.7%, Kmart and Target sales were down 14.3%, Catch’s gross transaction value was down 8.5% and Officeworks sales were down 1.5%.

This may or may not be a key factor for investor thoughts about the Wesfarmers share price.

Management said sales in those retail divisions are being impacted by lockdowns and have required store closures and restricted trading in multiple regions.

However, there has been a variance in performance across regions. The company said that there was solid customer demand and trading results in areas less affected by lockdowns.

Not only are the sales being impacted, but there are also higher COVID costs relating to higher picking and fulfillment costs.

Looking at the biggest division, Bunnings, management said that solid growth from commercial customers has somewhat offset a decline in consumer sales as Bunnings is now cycling against strong demand in the prior period.

Management said that the retail divisions are well positioned for the resumption of normal trading as lockdowns and restrictions ease. It’s going to continue to look for acquisition and expansion opportunities, whilst also developing its digital offering and efficiencies across the supply chain.

Is the Wesfarmers share price an opportunity?

Brokers aren’t convinced it is yet. Analysts at UBS rate Wesfarmers as a hold, with a price target of $62.

UBS isn’t sure that consumer demand will be as strong after the lockdowns as it was before these lockdowns in NSW and Melbourne.

At the current Wesfarmers share price, UBS believes that Wesfarmers is valued at 28x FY22’s estimated earnings.

The post Why has the Wesfarmers (ASX:WES) share price tumbled 14% in a month? appeared first on The Motley Fool Australia.

More reading

• Own Wesfarmers (ASX:WES) shares? It’s about to be payday…for you and the CEO
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• These ASX 200 dividend shares are about to dish out $40bn to shareholders

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 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 Iress Ltd (ASX: IRE) share price has been struggling this month amid rumours its takeover is increasingly unstable.

Iress received its latest takeover offer of an implied $15.91 per share from EQT Fund Management on 11 August. The offer values Iress at around $3.1 billion.

However, reports that EQT is hesitating on the much-anticipated takeover and is considering lowering its offer have emerged today.

Right now, the Iress share price is $13.50. That’s 1.68% lower than its previous close and 11.4% lower than it was this time last month. It’s also 15% lower than EMT’s part-cash-part-scrip offer.

Let’s take a closer look at the pickle facing the software provider.

A quick refresher

The latest takeover offer posed to Iress by EQT is the third.

The fund manager offered $14.80 per share for the software company on 18 June. The bid was swiftly rejected.

Then, EQT pushed an offer of between $15.30 and $15.50 per share. That was once more rejected by Iress’ board. However, Iress did agree to allow EQT access to information that could allow it to put in a more suitable bid. The Iress share price shot up 13.9% on the day it announced EQT’s second offer.

Of course, that led to EQT’s latest $15.91 per share offer, which Iress agreed to grant EQT a 30-day period of exclusivity. The Iress share price gained 5% on the back of the initially successful takeover offer.

However, the period of exclusivity was recently extended for another 10 days to allow EQT to complete its due diligence.

Today’s rumours

The Iress share price is in the red again today amid reports stating that EQT is second guessing its plan to takeover Iress altogether.

EQT is apparently rumoured to be considering abandoning the takeover or lowering its offer once more.

Further, according to reporting by The Australian, EQT might be working to bring BGH Capital on board to partner in its purchase of Iress.

The market will likely soon find out whether the rumours are true. The extended period of exclusivity is set to end on Sunday evening.

Iress share price snapshot  

Despite the poor month’s performance, the Iress share price is still having a good year on the ASX.

Right now, it’s 25% higher than it was at the start of 2021. It has also gained 37% since this time last year.

The post Why the Iress (ASX:IRE) share price has shed 11% in a month 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 Deep Yellow Limited (ASX: DYL) share price joins the growing list of booming ASX uranium shares, surging 53.8% in September. This marks an 8-year high of $1.215.

Deep Yellow is a uranium explorer operating out of Namibia. Its growth strategy is to “establish a multi-platform, 5-10 million lb per annum, low-cost, tier one uranium producer.”

What’s so special about this uranium company?

Deep Yellow has been kicking goals at its flagship Tumas Project. The miner is expecting to complete a definitive feasibility study in the second half of 2022.

The company has described the Tumas Project as “similar to Langer Heinrich deposit and very well understood by the Deep Yellow team.”

Langer Heinrich is owned by the largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN).

Deep Yellow has discovered multiple deposits in recent months, with successful drilling announcements in July and August.

Over the past four years of exploration, Deep Yellow has increased the Tumas mineral resource fourfold.

Even then, the company says that only 60% of its 125km highly prospective palaeochannel system has been tested. And thus, “significant growth upside remains.”

What’s driving the Deep Yellow share price?

Uranium spot prices are up more than 60% since mid-July, marking 7-year highs of $42.50 last week.

The sudden spike in uranium prices has largely been driven by Sprott Inc and its Physical Uranium Trust (SPUT).

Sprott has been aggressively buying physical uranium off the spot market. This has driven tightness in supply and renewed investor interest in the energy metal.

According to Bloomberg, the fund has amassed over 24 million lb by 8 September.

The relentless buying action picked up on Wednesday, with the fund adding another 1.25 million lbs.

Sprott Physical Uranium Trust was back in action today with record trading volume and new unit issuance!

1.25 million lbs of physical #uranium added#lowcarbon #nuclear #U308 $U.UN $U.U $SRUUF #SPUT

For more information and disclosures, please visit https://t.co/PcaG53VfN5 pic.twitter.com/ss3zcoQGAh

— Sprott Asset Management (@Sprott) September 14, 2021

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The sudden uptick in uranium prices has translated to a significant re-rate for the Deep Yellow share price and broader uranium sector.

Deep Yellow share price snapshot

Deep Yellow shares are rising again in early morning trade, up 2.06% to $1.24.

The uranium miner has a market capitalisation of $402.47 million with 331 million shares on issue.

The post Here’s why the Deep Yellow (ASX:DYL) share price is up 50% this month appeared first on The Motley Fool Australia.

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• Deep Yellow (ASX:DYL) share price surges 24% to record highs
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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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The Strike Energy Ltd (ASX: STX) share price has opened higher this morning after the company’s latest green announcement. It’s about a green hydrogen and carbon sink project.

At the time of writing, shares in the energy company are trading for 29.5 cents each – up 1.72% on yesterday’s close. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.44% lower.

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

Why the Strike share price is rising

In a statement to the ASX, Strike Energy says it will transition the energy supply at its proposed fertiliser manufacturing plant, Project Haber in Geraldton, Western Australia, from gas to a green hydrogen supply.

Beginning in 2025, approximately 2% of the plant’s power will come from green hydrogen. By 2033, a “break-through point” where the cost of green hydrogen is projected to drop to under $2 per kilogram will see about a third of power come from the renewable source. The company claims the plant will be 100% green hydrogen-powered by 2044.

According to the statement, Strike has entered into separate, non-binding memorandums of understanding (MOU) with energy company ATCO and Infinite Blue Energy (IBE) for collaboration on mid-west infrastructure and green hydrogen offtake.

The company says these agreements will “facilitate alignment between the parties on the key infrastructure priorities for the mid-west region and to petition for their development with the WA government, who is a major supporter of the state’s aspiring hydrogen economy”.

Finally, in more news that could be lifting the Strike share price, the company says Project Haber has the potential to transition into a carbon sink. It forecasts 390 tonnes per day of methane could be replaced by green hydrogen.

Once the plant exceeds a 40% green hydrogen mix, it will be “required” to start importing carbon dioxide to continue manufacturing fertiliser. In the company’s words, this action would turn Project Haber into a carbon sink for other industries.

Management commentary

Strike Energy CEO and Managing Director Stuart Nicholls said:

Progression of these MOUs with two of the key green hydrogen developers in the Mid-West is a great step in accelerating the WA hydrogen economy.

Incorporating green hydrogen in Project Haber’s urea production process will enable Strike to produce some of the lowest carbon urea possible and potentially create one of Australia’s largest carbon sinks, moving Strike into carbon negative territory.

Strike share price snapshot

Over the past 12 months, the Strike share price has increased by around 15%. That’s about 10 percentage points lower than the ASX 200 over the same period. The company’s share price is up around 3% since the beginning of the year.

Strike Energy has a market capitalisation of approximately $596 million.

The post Strike (ASX:STX) share price climbs on green hydrogen announcement appeared first on The Motley Fool Australia.

More reading

• Strike Energy (ASX:STX) share price lifts on project update
• Why the Strike Energy (ASX:STX) share price is down 6% today

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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The Qantas Airways Limited (ASX: QAN) share price has edged lower in early trading with investors keeping a keen eye on it this week. 

The extra attention comes as multiple buyers line up to swoop on the airline’s investment and land portfolio.

Let’s take a closer look.  

Demand for land package spurs Qantas share price

Shares in Qantas have been buoyed by compelling interest in its investment and land holdings.

According to a recent article in The Age, listed companies such as Charter Hall Group (ASX: CHC) and Goodman Group (ASX: GMG) are potential suitors.

Stockland Corporation (ASX: SGP) and Mirvac Group (ASX: MGR) have also emerged as strong contenders.

Bidding for Qantas’ land portfolio, which is estimated to be worth in excess of $550 million, is expected to close on Friday.

The package includes several properties and covers approximately 14 hectares in Sydney’s industrial precinct.

Part of the package includes Qantas’ distribution centre, two development sites and a business park development site.

Qantas has owned the land parcels since the 1960s and decided to sell following a wide-ranging property review.

The airline launched an Expression of Interest process in July 2021, with management citing the sale could unlock several hundred million dollars to further assist with debt reduction.

In its first-half report for FY21, Qantas reported net debt levels of $6.05 billion.

How did Qantas perform in FY21?

Qantas released its full-year results for FY21 in late August.

The airline’s report was headlined by a statutory loss before tax of $2.35 billion.

Other highlights from Qantas’ full-year results included:

• $12 billion revenue impact from the COVID-19 crisis in FY21.
• Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) was $410 million. That’s in line with Qantas’ guidance.
• $5.93 billion of revenue.
• Operating cash flows came to an outflow of $386 million.

The airliners management cited the difficult domestic and international conditions for the dire result.

Qantas noted that in FY21, only 30 days were free of any state domestic border restrictions.

Snapshot of the Qantas share price

A strong run in the past few weeks has pushed the Qantas share price 11% higher for the year.

Shares in the airliner have been buoyed by plans to potentially resume international travel by December of 2021.

In line with the national cabinet’s plan, Qantas is anticipating the resumption of the trans-Tasman travel bubble and other routes in the Asia Pacific.

At the time of writing, the Qantas share price has opened slightly lower for the day. It’s down 0.37% to $5.41.

The post Qantas (ASX:QAN) share price slips as buyers line up for land package appeared first on The Motley Fool Australia.

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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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Looking for options in the tech sector? Then look at the ASX shares listed below that have been named as buys.

Here’s what you need to know about these tech shares:

Altium Limited (ASX: ALU)

The first ASX tech share to look at is Altium. It is an electronic design software provider. Altium is best-known for its Altium Designer and Altium 365 platforms.

The company’s platforms are regarded as the best in the industry and are used by many of the world’s largest companies. This includes the likes of BAE Systems, Microsoft, and Tesla.

The good news for Altium is that demand for these platforms looks set to increase materially over the next decade. This is due partly to the internet of things and artificial intelligence markets, which are underpinning an explosion of electronic devices globally.

The team at Citi are positive on the company. They have a buy rating and $35.40 price target on its shares.

Nitro Software Ltd (ASX: NTO)

Another ASX tech share to look at is Nitro Software. It is a software company that is aiming to drive digital transformation in organisations around the world with its Nitro Productivity Suite.

The Nitro Productivity Suite provides integrated PDF productivity and electronic signature tools to customers through a horizontal, software-as-a-service, and desktop-based software solution.

Adoption of these tools has accelerated during the pandemic and helped underpin strong growth during the first half of FY 2021. For example, for the six months ended 30 June, the company’s reported a 56% increase in its annualised recurring revenue (ARR) to US$33.8 million. This puts it on track to achieve its full year guidance for ARR of between US$39 million and US$42 million.

Positively, this is still well short of its total addressable market which is estimated to be $28 billion. This gives it a very long runway for growth over the next decade.

Bell Potter is very positive on the company. In fact, Nitro is the broker’s top tech share to buy this month. Its analysts have a buy rating and $4.00 price target on the company’s shares.

The post These ASX tech shares have been tipped as buys by analysts appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
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• Broker names the 3 best ASX tech shares to buy
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• Here’s what this top broker thinks of the Altium (ASX:ALU) share price

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 Altium. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool Australia has recommended Nitro Software 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 Venture Minerals Limited (ASX: VMS) share price is struggling this week despite the company’s silence.

Since it finished last week’s trading for 9.2 cents apiece, Venture Minerals’ stock has fallen 6.52%.

Right now, the Venture Minerals share price is 8.6 cents.

Let’s take a look at what might be driving the company’s shares lower this week.

A quick refresher

Venture Minerals is a mineral explorer in the early stages of production.

The company mines iron ore at its Tasmanian Riley Ore Mine, with its first shipment due this month.

Additionally, Venture Minerals is exploring for tin and tungsten at the Mount Lindsay Project in Tasmania. According to Venture, Mount Lindsay is one of the world’s largest tin deposits.

It also has projects focused on gold, copper, nickel, and other minerals in Western Australia.

What’s Venture Minerals been up to lately?

Venture Minerals has maintained silence as its share price plummets this week.

However, last week was a busy one for the company.

Last Wednesday, Venture announced a drilling campaign at Mount Lindsay had successfully found a new skarn system. The skarn system is potentially tin bearing and is located nearby the Renison Tin Operation. The company stated Renison was one of the world’s largest and highest-grade tin mines.

The Venture Minerals share price gained 7% after the company announced the discovery.

Not to mention, over 25 million of the company’s shares were traded last Wednesday. For comparison, the average month sees around 16 million Venture shares swapping hands.

Then, Venture Minerals unveiled its New World Metals Conference presentation on Thursday.

Despite the presentation containing plenty of seemingly positive news, Venture Minerals’ shares fell 4% the day it was released.

Venture Minerals share price snapshot

Despite its poor performance this week, the Venture Minerals share price is well and truly in the ASX green.

Right now, the company’s share price is 76% higher than it was at the start of 2021. It has also gained 193% since this time last year.

The post The Venture Minerals (ASX:VMS) share price has fallen 6% this week 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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