Shares in Kogan.com Ltd (ASX: KGN) are soaring this week despite no news being released by the online retailer.

The Kogan share price is currently trading at $11.41 apiece. That’s almost 10% higher than it was at last Friday’s close.

Historically, Kogan has been a COVID-19 winner. With lockdowns currently ongoing in Australia’s 3 most populated states, could the market be expecting Kogan’s profits to spike once more?

Let’s take a closer look at what might be driving Kogan on the ASX.

COVID-19 winner?

The Kogan share price is rallying this week, and while it’s not gaining with the same intensity it did in March 2020, this latest lift may be happening for the same reasons.

Kogan shares started 2020 trading at $7.47. They slumped in the March COVID-19 market meltdown but, by the end of the 2020 financial year, had bounced up to $13.91. The upward trajectory didn’t stop there either, with the Kogan share price hitting a 52-week high of $25.57 in October.

Back then, Kogan’s gains were spurred by a series of record sales. There’s no news of the same right now.

However, Victoria last night joined Sydney and Southeast Queensland in locking down against the Delta variant.

Past lockdowns have spurred a switch in consumer retail habits from traditional brick-and-mortar to online shopping. As Kogan is the self-proclaimed largest online retailer in the country, investors might be rallying in case these lockdowns extend beyond their estimated endpoints.

Additionally, the company recently reported that it had solved inventory issues plaguing the Kogan share price.

That might also help to remove the brake on Kogan’s shares.

Kogan share price snapshot

Even with this week’s uptick, the Kogan share price is well below its golden days.

It has slipped 41% since the start of 2021 and is 39% lower than it was this time last year.

The company has a market capitalisation of around $1.1 billion, with approximately 106 million shares outstanding.

The post Why the Kogan (ASX:KGN) share price is soaring 10% this week appeared first on The Motley Fool Australia.

More reading

• 3 excellent ASX growth shares that could be buys
• The Kogan share price is down 6% this last month
• 2 beaten-up ASX shares that could be buys in August 2021
• These are the 10 most shorted ASX shares
• 2 buy-rated growth shares for ASX investors in August

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

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The S&P/ASX 300 Index (ASX: XKO) is flat today, despite some strong movers amongst the more popular companies.

At the time of writing, the ASX 300 is up 0.03% to 7,507 points.

It’s worth noting that the index hit a record high of 7,519 points yesterday.

Let’s take a look at which top ASX 300 shares are picking up steam during mid-afternoon trade.

Vulcan Energy Resources Ltd (ASX: VUL)

The first major mover in the ASX 300 is none other than Vulcan Energy. So far, this lithium company is continuing its positive run, surging 15.77% higher to $13.29. That means Vulcan Energy shares are now up 30% over the past week.

The company announced a 5-year partnership with major automobile manufacturer, Renault on Monday. In addition, Vulcan Energy also stated that its Zero Carbon Lithium project achieved a negative carbon footprint.

Z Energy Ltd (ASX: ZEL)

Another ASX 300 mover today is New Zealand-based fuel retailer, Z Energy, climbing 6% to $2.92. This comes despite the company not releasing any news today.

Z Energy’s last price sensitive announcement came back in late May regarding an agreement to an in-principal deal with The New Zealand Refining Company on import terminal conversion.

It appears investors are buoyant on the ASX 300 company’s share price, sending it 13% higher over the month.

Afterpay Ltd (ASX: APT)

Next up, the ASX 300 darling, Afterpay. The buy now, pay later (BNPL) giant is up 4.97% to $131.48.

Afterpay shares have been on the move this week following a takeover offer from Square Inc (NYSE: SQ) for $39 billion. As the United States payment company surged overnight, so too has Afterpay today.

Since 2 August, Afterpay shares have risen 14%, reflecting upbeat investor sentiment that the deal will go through. The Afterpay board unanimously voted in favour of the transaction.

The post Here are the top movers in the ASX 300 today appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: REA & ResMed results, Afterpay jumps
• ASX tech shares lead the market on Friday, Afterpay higher
• Why AnteoTech, BetMakers, News Corp, & Vulcan shares are racing higher
• Banks, NIB and Nuix share prices rise. Nick Scali flying. Scott Phillips on Nine’s Late News
• Afterpay (ASX:APT) share price surges as Square hits record highs

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. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 (ASX: XJO) lithium shares are top performers on Friday following a solid session for the lithium sector overnight.

The largest ASX 200 lithium miners Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) are retesting all-time highs again, up 2.31%, 2.48% and 2.41% respectively.

Why ASX 200 lithium shares running higher

The broader lithium and renewables sector is a hot space right now with no shortage of positive news.

On Thursday, President Joe Biden signed an executive order with hopes of making at least half of all new vehicles sold in 2023 electric, according to Reuters.

“The 50% target, which is not legally binding, won the support of U.S. and foreign automakers, which said that achieving it would require billions of dollars in government funding.”

Reuters quoted statements from major US automakers, with General Motors commenting it “aspires to end sales of new U.S gasoline-powered light duty vehicles by 2035” and Ford saying it plans “at least 40% of our global vehicle volume being all-electric by 2030.”

Many ASX 200 lithium shares have been calling out global electric vehicle adoption as a catalyst to drive a lithium demand surge.

Galaxy’s capital raising presentation back in November cited that “global EV sales [are] forecast to grow as high as 30% CAGR in the next decade” and also anticipated “robust demand for lithium in the mid-long term.

More recently, Pilbara Minerals set up an auction for 10,000 dry metric tonnes (dmt) of lithium spodumene concentrate on its Battery Material Exchange platform.

The company said that it received 62 online bids ranging from US$700/dmt to US$1,250/dmt free on board (FOB) during the three-hour auction window.

Pilbara Minerals accepted the highest bid of US$1,250/dmt.

By comparison, Pilbara Minerals said that spodumene prices were fetching between US$700 to US$975/dmt back in June this year.

Encouragingly, Tesla Inc (NASDAQ: TSLA) reported more than 200,000 vehicle sales during its second quarter results last week. The figure represents a 121% year-on-year increase, helping the company surpass US$1 billion in net income for the first time on record.

The post Why ASX 200 lithium shares are charging higher on Friday appeared first on The Motley Fool Australia.

More reading

• Pilbara Minerals (ASX:PLS) share price rallies 14% in just four days
• Why the Vulcan (ASX:VUL) share price is running hot in August
• Why the Pilbara Minerals (ASX:PLS) share price is up 15% this week
• ASX 200 midday update: GUD results, Woodside update, ANZ appointment
• Why the Galaxy Resources (ASX:GXY) share price hit a 52 week high

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. owns shares of and has recommended Tesla. 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 Woodside Petroleum Limited (ASX: WPL) share price has faced headwinds over the year to date. Over the last 2 months, Woodside shares have slipped around 10% into the red.

Whereas the S&P/ASX 200 Index (ASX: XJO) for instance, has spent the entire year in the green.

Here we uncover some of the pressures Woodside shares have faced over the last few months.

Conservation report findings

Back in early June, the Conservation Council of Western Australia (CCWA) released its report on Woodside’s Scarborough project.

In it, the CCWA said the project will have significant adverse impacts on WA’s environment and World Heritage sites.

For instance, it projects that Scarborough will produce as much greenhouse gas as 15 coal fired power stations, and will expand WA’s emissions by approximately 5%.

As a result, the CWWA has commenced court proceedings through the WA Supreme Court, in order to overturn the approvals granted at Scarborough.

The Woodside Petroleum share price has slipped around 10% into the red following this announcement.

Corrections and volatility in the price of oil

Woodside’s share price seemed to make a small recovery on the charts in the short time after the CWWA report was released.

However, in mid-June, the price of US Brent oil made a price correction back down from its soaring 2-year highs.

Recent strength in the US dollar has led to a cooling effect in the oil markets, as US monetary policy continues to remain in the spotlight.

The entire ASX-listed oil basket slipped into the red on the back of oil’s price correction. Given Woodside’s exposure to three offshore oil assets in Australia, it was a major under-performer during the back end of June.

Following the volatility of oil spot prices, Woodside shares sunk 8.5% into the red, reaching a low of $22.21.

In contrast, when the price of oil made its run back up to 3-year highs towards the beginning of July, the Woodside share price had climbed back up a further 8.5%, signifying the correlation between the two securities.

Exhibit 1. Woodside share price: Observe the Volatility From 4 June 2021 – Today

Source: Google Finance

As the saying goes, history doesn’t repeat, but it does rhyme. Alas, as we walked through the final stages of the second quarter, the price of black gold tumbled again, and Woodside shares tanked once more.

From their last peak in early July, Woodside shares have since fallen a further 9.5% to today’s trading.

Production updates didn’t go down well

Woodside also reported a 4% sequential decline from the quarter prior in its activities report back in July.

The decrease was put down to scheduled maintenance and the impact of adverse weather events.

On the contrary, Woodside realised a 15% quarter on quarter rise in its sales revenue to $1.285 billion. This boiled down to a 9% increase in delivered sales volume.

Despite hot oil markets and above-market realised oil prices, this wasn’t enough to sway investor sentiment. Woodside shares have edged around 6% lower since the announcement.

Foolish takeaway

The Woodside share price has been on the back end of several headwinds over the past few months.

These headwinds have undoubtedly carried through until today, where the company’s shares have lagged the broad index’s return.

Despite the volatility this year, Woodside shares are still up 6.5% over the past year.

The post Here’s why the Woodside (ASX:WPL) share price is down 11% in the last 2 months appeared first on The Motley Fool Australia.

More reading

• 43% surge: ASX 200 shares that could rake it in this year
• 5 things to watch on the ASX 200 on Friday
• Why ASX Energy shares are the worst performers today
• ASX 200 midday update: Energy shares drop, Resolute jumps, Xero higher
• 5 things to watch on the ASX 200 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up slightly to 7,515.1 points.

Four ASX shares that are acting as a drag on the market today are listed below. Here’s why they are tumbling:

BHP Group Ltd (ASX: BHP)

The BHP share price is down 2.5% to $51.84. This follows a pullback in iron ore prices overnight. According to CommSec, the spot iron ore price tumbled US$13.10 a tonne or 7.2% to US$170.05 a tonne. This was driven by concerns that Chinese regulators will increase production limits on steel producers.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 3% to $9.97. This appears to have been driven by a decline in the gold price overnight. Traders were selling the precious metal amid fears the US Fed will begin tapering its asset purchases later this year. Northern Star isn’t the only gold miner falling today. At the time of writing, the S&P/ASX All Ordinaries Gold index is down 1.9%.

REA Group Limited (ASX: REA)

The REA share price is down 5% to $158.87. Investors have been selling the property listings company’s shares following the release of its full year result. For the 12 months ended 30 June, REA posted a 13% increase in revenue to $928 million and an 18% jump in net profit to $318 million. While this was in line with the market’s expectations, its outlook commentary may have spooked investors. Management revealed that listing volumes were down year on year in July due to lockdowns.

ResMed Inc (ASX: RMD)

The ResMed share price is down 1% to $36.78. This follows the release of the sleep treatment company’s full year result this morning. According to the release, ResMed reported an 8% increase in full year revenue to US$3.2 billion and a 13% jump in non-GAAP net income to US$780.6 million. Once again, this was in line with the market’s expectations. Investors may be slightly underwhelmed with management’s guidance for steady growth in FY 2022.

The post Why BHP, Northern Star, REA, & ResMed shares are dropping appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: REA & ResMed results, Afterpay jumps
• Why the ResMed (ASX:RMD) share price slumped even as profit jumped
• BHP (ASX:BHP) share price on watch as $800m of spending announced
• REA (ASX:REA) share price in focus after strong FY 2021 growth
• How owning too much Afterpay (ASX:APT) was our biggest regret

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 recommended ResMed. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. 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 Wesfarmers Ltd (ASX: WES) share price is surging to record highs today, touching a milestone of $63.75 in morning trading.

At the same time, more than 15 million Australians are today in some form of COVID-related lockdown.

Wesfarmers is a retail conglomerate that operates household banners including Bunnings, K-Mart, Officeworks, Target and online retailer Catch.

Depending on individual state governments, most of these retail businesses are classified as consumer staples.

With many people forced to work or learn from home, could these outlets see a surge in consumer demand?

It’s likely that prudent investors will be asking whether there is a correlation between the Wesfarmers share price and lockdowns.

Does lockdown impact Wesfarmers shares?

Australians have been through a myriad of lockdowns since the COVID-19 pandemic kicked off in March last year.

Like most companies on the S&P/ASX 200 Index (ASX: XJO), the Wesfarmers share price was pummelled during the initial nationwide lockdown in 2020, plummeting to a low of $32.25 on 27 March.

In August 2020, Victoria declared a ‘state of emergency’ as COVID-19 cases rocked the state.

By this time, the Wesfarmers share price had recovered strongly and was nudging record highs around $48.  

Fast-forward to 2021 and the COVID-19 outbreak during mid-June in New South Wales.

The Wesfarmers share price bolted more than 11% after the state announced stay-at-home orders.

However, this does not mean there’s a direct correlation between lockdowns and the Wesfarmers share price.

In its recent strategy update, Wesfarmers management noted that retail and online sales experienced a boom in spending. Particularly in hardware, homeware and technology.

However, the retail conglomerate also noted that sales would come under pressure the longer lockdowns persisted.

What else has been fueling the Wesfarmers share price?

The Wesfarmers share price also appears to have been boosted by the company’s renewed strategy.

The conglomerate is focused on investing in new growth platforms and selling unwanted assets.

Over the next 12 to 24 months, Wesfarmers plans to invest an additional $100 million in developing a market-leading data and digital retail ecosystem.

 In addition, Wesfarmers has also made its intentions clear about expanding into the beauty and pharmaceutical sector. This was illustrated by the company’s $687 million offer for Australian Pharmaceutical Industries Ltd (ASX: API).

Many investors will tune in to the August reporting season for greater insight into how Wesfarmers has performed over the past financial year.

Wesfarmers is slated to report its earnings on Friday 27 August.

The post How does the Wesfarmers (ASX:WES) share price perform during lockdowns? appeared first on The Motley Fool Australia.

More reading

• Wesfarmers (ASX:WES) share price hits new all-time high on renewed API interest
• Why the Wesfarmers (ASX:WES) share price is trading at record highs
• Here’s why the Coles (ASX:COL) share price is up 7% this last month
• Should you buy Wesfarmers (ASX:WES) shares in August 2021 for the dividend yield?
• Is it a good time now to buy Wesfarmers (ASX:WES) shares?

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 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 Bitcoin (CRYPTO: BTC) price is back in the green.

The digital token has shrugged off its recent losing streak to gain 2.66% over the past 24 hours.

The Bitcoin price currently stands at US$40,320 (AU$54,632).

In a sign of the continuing volatility involved with investing in cryptos, even the world’s biggest crypto by market cap, Bitcoin traded as low as US$37,380 and as high as US$41,378 since this time yesterday.

In other words, the Bitcoin price swung through a range of almost 11% in a single day.

And it’s just this sort of volatility that’s keeping some of the wealthiest investors on the sidelines.

Bitcoin price volatility too risky for wealth manager

Carter Henderson is the portfolio manager at United States-based investment management firm Fort Pitt Capital Group. Henderson is steering well clear of crypto assets for now.

Speaking to Bloomberg, Henderson said:

We don’t advise any of our clients to go into it. Right now, it’s too unknown of a space to be in and two, the volatility of wealth management clients to be in an asset class like that doesn’t fit the risk profile.

Indeed, taking a step back to look at the Bitcoin price performance just in 2021, we see a massive trading range.

What type of volatility have we seen this year?

Bitcoin kicked off the year at US$29,111. That means investors with nerves of steel who bought on 1 January and held on through the ups and downs would be sitting on virtual gains of 38% at today’s Bitcoin price.

But spare a thought to crypto investors who bought in at the 16 April all-time high of US$64,829. They’re still nursing a loss of some 38%.

Depending on your own personal risk profile, that level of volatility may or may not be acceptable.

Just remember, never invest more into cryptos than you can afford to lose.

The post Bitcoin price back in the green but this wealth manager won’t touch it appeared first on The Motley Fool Australia.

More reading

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• How this global crypto exchange indicator is bullish for Bitcoin
• Bitcoin price tumbles 6% after 10 days of gains…now what?
• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high
• 3 reasons why new ‘Britcoin’ will drive Bitcoin higher

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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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When it comes to buying shares for dividends, Telstra Corporation Ltd (ASX: TLS) shares are traditionally among the most popular options for investors.

But with the Telstra share price up a massive 25% in 2021 (even outperforming Afterpay Ltd (ASX: APT) shares), income investors may be wondering if it is still a good option.

Should you buy Telstra shares in August for the dividend yield?

The good news is that despite Telstra’s shares smashing the market this year, the forecast yield on offer is still very attractive. Particularly in comparison to the ultra low interest rates on offer with savings accounts and term deposits.

According to a note out of Goldman Sachs, its analysts believe Telstra is well-placed to continue paying a 16 cents per share fully franked dividend until FY 2023. Based on the current Telstra share price of $3.78, this will mean a yield of 4.2% for investors.

But it gets better. After years of dividend cuts, Goldman believes a long-awaited dividend increase is coming in FY 2024. Its analysts have pencilled in a fully franked 18 cents per share dividend that year.

Based on where its shares are trading today, this implies a 4.75% dividend yield for investors.

Are its shares good value?

In addition to offering investors a generous yield, Goldman Sachs sees value in Telstra shares at the current level.

Its analysts have a buy rating and $4.20 price target on them at present. This implies potential upside of 11% over the next 12 months. Combined with its dividends, this will mean a potential total return of greater than 15%.

And that’s not including its plan to return upwards of $1.4 billion to shareholders following the sale of 49% of its Towers business for $2.8 billion.

All in all, even though the Telstra share price has been on fire since the start of the year, it doesn’t appear to be too late to invest for dividends.

The post Should you buy Telstra (ASX:TLS) shares in August 2021 for the dividend yield? appeared first on The Motley Fool Australia.

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• Telstra (ASX:TLS) and this dividend share could be buys
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• 2 buy-rated ASX 200 blue chip shares for investors in August
• How do you value the Telstra (ASX:TLS) 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 AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Telstra Corporation 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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V2food has become a staple on Australian supermarket shelves. It was developed in conjunction with the CSIRO and has a focus on being a sustainable and realistic alternative to meat products.

In fact, if you’ve ever had a Rebel Whopper at Hungry Jack’s, you’ve eaten a v2food burger patty. So, how can ASX investors get their hands on a piece of v2food?

Unfortunately, I don’t have good news…

How to buy v2food on the ASX?

I hate to break the bad news, but v2food likely won’t be anyone’s next investment. That’s because it’s a privately owned company.

That’s not to say it doesn’t have any investors. Competitive Foods Australia, which operates Hungry Jack’s, is a v2food investor.

The Sydney Morning Herald reported v2food received investments from numerous Asian investment vehicles when it stretched its legs into Asia.

Today, The Australian reported v2food is valued at more than $500 million. It would be a particularly exciting day if an ASX inititial public offering (IPO) was announced for v2food.

The next best thing?

Luckily, there are numerous options for investors interested in companies like v2foods.

The most obvious is, of course, the NASDAQ-listed Beyond Meat Inc (NASDAQ: BYND). Beyond Meat reported its results for the 3 months ended 3 July yesterday.

Within them, it reported net revenue of US$149.4 million – 31.8% more than the prior corresponding period. However, it reported earnings before, interest, taxes, depreciation, and amortisation (EBITDA) reached a loss of US$2.2 million.

The loss was due to higher overheads, transport costs, and depreciation and amortisation expenses.

ASX-listed plant-based protein makers

On the ASX there are a few options for those hoping to capitalise on plant-based meat. Those interested in buying shares of v2food might like the look of these ASX shares.

The first plant-based meat focused company is Wide Open Agriculture Ltd (ASX: WOA). The company isn’t wholly plant based – it has interests in beef, lamb, and poultry.

However, it’s working with the CSIRO and Curtin University to create plant-based proteins from lupin. It also produces the world’s first carbon neutral oat milk, OatUP.

Another ASX-listed company is coming at the plant-based movement from a slightly different direction.

Pure Foods Tasmania Ltd (ASX: PFT) acquired its second plant-based cheese business in March.

The post Can you buy shares in plant-based meat company v2food on the ASX? appeared first on The Motley Fool Australia.

More reading

• Wide Open Agriculture (ASX:WOA) share price lifts on results

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Beyond Meat, Inc. 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 Lithium Energy Ltd (ASX: LEL) share price is pacing higher again today, up 40% in the last 2 days. This comes after the battery minerals company announced a positive update yesterday for the Solaroz Lithium Project.

At the time of writing, Lithium Energy shares are exchanging hands for 69 cents, up 15%.

What did Lithium Energy announce?

According to its release, Lithium Energy reported that the Solaroz Lithium Project Environmental Impact Assessment (EIA) is nearing completion. The Unit of Environmental Management or otherwise known as ‘Unidad de Gestion Ambiental Provincial Minera’ (UGAMP) of the Jujuy Province is currently reviewing the EIA.

The UGAMP has representatives across several different provincial agencies. They include the Environmental Management Agency, Environmental Policy Department, Water Resources, Industry and Commerce, Public Health. In addition, the UGAMP has non-government stakeholders along with the Mining Secretary, which is responsible for approving Mining EIA’s.

Lithium revealed that in late July, two public consultation meetings took place with the UGAMP, landowners and first nations representatives. The meetings were seen as a positive step in securing signoff for the EIA.

The next stage involves receiving any technical input from relevant stakeholders. This is expected to have a timeframe of roughly 2 weeks.

Should the EIA become approved, Lithium Energy will conduct an extensive work program consisting of geophysical surveys and drilling. The company is hoping to find lithium brines underneath Solaroz.

Lithium Energy share price snapshot

Located within South America’s ‘lithium triangle’ in northwest Argentina, the Solaroz Lithium Project comprises of 8 mineral tenements. In total, the area is approximately 12,000 hectares.

The company established a conceptual exploration target of 1.5 million tonnes to 8.7 million tonnes of Lithium Carbonate Equivalent (LCE). Unfortunately, there hasn’t been enough exploration activities to estimate a Mineral Resource.

The Lithium Energy share price has jumped more than 230% since coming onto the ASX boards in May 2021.

The post Why the Lithium Energy (ASX:LEL) share price is up 40% in the last 2 days appeared first on The Motley Fool Australia.

More reading

• Can you buy shares in plant-based meat company v2food on the ASX?
• It’s been a great week for the Xero (ASX:XRO) share price
• ASX 200 midday update: REA & ResMed results, Afterpay jumps
• ASX tech shares lead the market on Friday, Afterpay higher
• Up 1000% in 2021, the Sayona Mining (ASX:SYA) share price lifts again

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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