Zip Co Ltd (ASX: Z1P) shares crossed the FY21 finish line with a solid gain of around 43% for the 12-month period.

But this was considerably lower than the February peak when the Zip share price was sitting on 1-year returns of around 165%. At the time, the company’s shares had been bolstered by an explosive second-quarter update and US listing rumours.

With FY21 done and dusted, let’s take a look at what Zip has planned for the new financial year.

What Zip has planned for FY22

Finalise European and Middle East acquisitions

Zip revealed its continued global expansion plans back on 24 May, when it acquired the remaining shares in its minority European and Middle East investments.

This announcement saw the Zip share price rally 2.98% on the day to $7.25.

One of Zip’s acquisitions, Twisto, is a leading payments platform operational in Czechia and Poland. This acquisition was described as a “gateway to one of the largest e-commerce markets globally”.

Twisto holds a European Payment Institution licence, which allows it to provide payments services to all EU member states, subject to necessary regulatory approvals.

Zip also acquired Spotii, a leading player in the United Arab Emirates and Saudi Arabia.

The combined enterprise value of the two acquisitions is ~$180 million, with a transaction consideration of $160 million.

According to Zip, the Spotii acquisition is expected to be complete in the third quarter of 2021 (Q3 CY21) and the Twisto acquisition in the fourth quarter.

Continued UK growth

Zip’s FY21 third-quarter results released on 13 April described the UK as a “significant regional opportunity and a key strategic focus for the company, that will be a strong driver of growth throughout 2021”.

The third quarter announcement managed to rally the Zip share price 16.95% to $9.73.

Zip launched in the UK in late 2020 with the Zip app released to the app store in late March this year. The company said that the utilisation of its virtual card technology will be a key pillar in its UK strategy.

Looking over at rival Afterpay Ltd (ASX: APT), the UK was the company’s fastest-growing region in the FY21 third quarter, on a percentage basis.

Afterpay UK sales surged 246% against the prior corresponding period from $0.1 billion to $0.5 billion.

This compares to its North America and ANZ regions, with sales growth of 167% and 48% respectively for the quarter.

New markets

Zip’s third-quarter announcement also revealed a soft launch into Canada and strategic investment into South East Asia via a leading Philippines buy now, pay later player, TendoPay.

The Canada launch was driven by US merchant demand, with plans to build out an initial local presence.

Zip share price snapshot

At the time of writing on Friday morning, Zip shares are trading 1.17% lower at $7.61. The Zip share price reached its 52-week high of $14.43 during intraday trading on 16 February. The company’s shares have gained around 8.5% over the past month.

Based on the current share price, Zip has a market capitalisation of around $4.3 billion.

The post Got Zip (ASX:Z1P) shares? Here’s what the company has in store for FY22 appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD 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 Catapult Group International Ltd (ASX: CAT) share price has dipped slightly in early trade. At the time of writing, the Catapult share price is down 0.76%, trading at $1.97.  

Shares in Catapult will be receiving extra attention today, after announcing a successful acquisition earlier.

Lets take a look at what Catapult announced and why investors will be watching.

Catapult acquires SBG Sports

Earlier today, Catapult announced that the company has completed the acquisition of SBG Sports Software overnight.

Catapult noted that explicit details on the acquisition were outlined in a previous announcement.

In late June, Catapult announced that the company was considering US$40 million to US$45 million for the acquisition.

The transaction comprised of an even split between US$20 million in cash and US$20 million in deferred Catapult shares. In addition, the company noted that up to US$5 million could be issued in instalments following agreed criteria.

SBG is a global leader in video and data analysis solutions. After pioneering software development and data analysis in the motorsports industry, the company has since expanded into traditional sports. SBG offers a suite of products to help coaches break down factors driving team performance and reduce weekly workflow times.

According to Catapult, the strategic acquisition will help the company accelerate growth in an unpenetrated section of its core market.

Snapshot of the Catapult share price

Catapult are world leaders in sports analytics and solutions, providing sports teams and athletes with technology that tracks and measures performance and recovery. Catapult operates three divisions; elite video, wearables, and prosumer.

The Catapult share price has been rather flat during 2021, bouncing between highs of $2.30 and $1.60. With competitive sports resuming, the company has seen a steady pickup in revenue growth as reported in its FY21 results.

Following the intention to acquire SBG, Catapult launched a $57 million capital raising in late June. The company was able to raise $35 million via an underwritten institutional placement of new shares at a price of $1.90.

At the time of writing, shares in Catapult have dipped slightly in early trade as investors digest the news.

The post Catapult (ASX:CAT) share price dips on acquisition 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. owns shares of and has recommended Catapult Group International Ltd. The Motley Fool Australia owns shares of and has recommended Catapult Group International 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 Australian Rare Earths (ASX: AR3) share price was on form again in early trade on Friday.

The rare earths producer’s shares were up a further 9% to a record high of 60 cents before pulling back.

When the Australian Rare Earths share price reached that level, it meant it had doubled in value since completing its IPO on Thursday.

The Australian Rare Earths IPO

Australian Rare Earths listed on the Australian share market on Thursday after raising $12 million at $0.30 cents via an oversubscribed IPO. The company notes that well-known institutions and sophisticated investors across Australia and internationally took part in the IPO.

This gave Australian Rare Earths a market capitalisation of $33 million at listing and $66 million at today’s peak.

The Koppamurra Project

The funds raised through the IPO will be used to support key work activities at the company’s flagship Koppamurra Project, located in South Australia and Victoria.

The Koppamurra Project is Australia’s largest prospective ionic clay hosted rare earth element (REE) deposit. Management notes that it has already had significant exploration success at Koppamurra through the discovery of the Red Tail and Yellow Tail deposits. This culminated in the declaration of a maiden JORC 2021 Inferred Mineral Resource of 39.9Mt @ 725ppm TREO.

Positively, the success of its first drilling campaign was obtained from drilling of less than 5% of the granted Project area. Furthermore, the grade is comparable with projects and operations found in southern China, the current major source of heavy rare earths globally.

Non-Executive Chairman, Professor Dudley Kingsnorth, said: “The AR3 team are proud to commence trading on the ASX as we continue to progress our exciting, flagship Koppamurra project.”

“Koppamurra is Australia’s only prospective ionic clay hosted REE deposit and one of only two exchange listed opportunities globally. The Company is focused on executing our growth strategy to ensure AR3 is in a position to become a strategic, independent and sustainable source of HREEs, which will play a critical role in the transition to green economies globally,” he added.

The post Australian Rare Earths (ASX:AR3) share price up 100% in 2 days after IPO appeared first on The Motley Fool Australia.

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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 RPMGlobal Holdings Ltd (ASX: RUL) share price is breaking a new record on Friday morning. This comes after the mining software company announced a sales update for the 2021 financial year.

After surging 5% to touch an all-time high of $1.825 in opening trade, the RPMGlobal share price is currently trading at $1.80, up 3.76%.

How is RPMGlobal performing?

Investors are buying up RPMGlobal shares following the company’s latest release to market.

In today’s statement, RPMGlobal revealed trading conditions have continued to be positive, resulting in an overall stronger FY21 financial performance.

The company advised that total contracted value (TCV) from software subscriptions sold and software revenue from perpetual licence contracts totalled $52.9 million. This is an increase of $9.5 million from when the company reported its sales update on 18 June 2021.

Unaudited figures indicate that TCV achieved $47.7 million, up $13.2 million from FY20 ($34.5 million). In addition, annual recurring revenue (ARR) from software subscriptions stands at around $21.9 million per year. This reflects a significant uplift from the $12.7 million in ARR attained in the prior comparable year.

However, perpetual software licence revenue sold during FY21 finished slightly lower at $5.2 million. The company recorded $6.9 million in software licence sales at the end of FY20. Around $2.2 million has been sold since the last reported sales update 2 weeks ago.

RPMGlobal is expecting to release its FY21 full-year results sometime in late August.

About the RPMGlobal share price

It has been a great 12 months for RPMGlobal investors, with the company’s shares accelerating by more than 70%. In 2021 alone, the RPMGlobal share price has posted gains of around 35%, signifying positive sentiment.

Based on the current price, RPMGlobal has market capitalisation of roughly $397 million, with approximately 229 million shares on issue.

The post Why the RPMGlobal (ASX:RUL) share price hit an all-time high today, up 5% appeared first on The Motley Fool Australia.

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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 RPMGlobal Holdings. The Motley Fool Australia has recommended RPMGlobal Holdings. 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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Westpac Banking Corp (ASX: WBC) will pay out an estimated $87 million to customers who were not provided with critical information from its financial advice business.

The Australian Securities and Investments Commission revealed Friday that the bank had agreed to compensate the clients that were impacted by failures between 2005 and 2019.

The 32,000 affected customers held ASX shares through Westpac’s advice arm. The bank failed to notify them of an estimated 328,000 “corporate actions” over those 14 years.

Corporate actions include common ASX company activities like share buybacks, rights issues, share purchase plans and acquisitions.

“Westpac’s failure to notify customers of corporate actions means customers may have missed out on various opportunities,” the regulator stated.

“These include purchasing additional shares often at a discount to the market price, the creation of temporary rights or options that can be sold for a profit, and the ability to sell shares and receive a benefit that can be tax advantageous depending on the shareholder’s circumstances.”

A Westpac spokesperson confirmed the payout to The Motley Fool.

“Westpac apologises to any client of its former advice business who may be impacted by this issue,” said the spokesperson.

“Westpac reported this matter to ASIC in July 2019 and is remediating all impacted clients as appropriate. The group disclosed that it had provisioned for the corporate actions matter in April 2020.”

The Westpac share price is up 0.43% in early Friday morning trade, going for $25.76. It’s up more than 30% on the year.

Westpac to hand out remediation by the end of the year

ASIC commissioner Danielle Press said compensating clients impacted by misconduct is a critical part of holding a financial licence.

“We are pleased to see that Westpac has taken action to remediate affected customers regardless of how much time has passed.”

The bank is aiming to complete the payouts by the end of this year.

For those missed notifications that have been deemed not worthy of compensation, clients will be informed of the corporate actions retrospectively.

Press encouraged customers of Westpac’s advice arm during the impacted time period to request further information from the bank.

Westpac’s advice brands affected by the compensation include Securitor Financial Group Limited, Magnitude Group Pty Ltd and BT Financial Advice. 

Those brands stopped providing personal financial advice in 2019.

The bank first reported its failures to ASIC in 2019, then revealed further details on the matter in April last year.

The post Westpac (ASX:WBC) to pay $87 million compensation to customers appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo 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 AVZ Minerals Ltd (ASX: AVZ) share price has returned from its trading halt and is sinking.

In morning trade, the lithium explorer’s shares are down 8% to 14.7 cents.

Why is the AVZ Minerals share price is sinking?

The AVZ Minerals share price has come under pressure on Friday after it announced the outcome of an institutional placement.

According to the release, the company has received firm commitments for a placement to raise $40 million from sophisticated, professional, and institutional investors. Management notes that the placement was heavily oversubscribed, allowing the AVZ Board to increase it by $10 million more than previously sought.

Among the investors were high-quality institutions from Australia and North America, including a European-based physical energy commodities merchant.

The funds were raised at an issue price of $0.13 per share, which represents a sizeable discount of 18.8% to the last closing price.

Why is AVZ raising funds?

These funds will be used to accelerate the advancement of the Tier 1 Manono Lithium and Tin Project in the Democratic Republic of the Congo. This includes progressing towards a final investment decision (FID) for the commencement of project development.

In addition, the company intends to use some of the funds to increase its interest in the project to 75% from 60%.

AVZ’s Managing Director, Nigel Ferguson, said: “The capital raising marks an important milestone in our journey to develop the Manono Project, providing AVZ with the required funds to increase the Company’s stake in the Project and secures the necessary working capital to commence the early capital works program.”

“Increasing AVZ’s equity stake to 75% of the Manono Project adds significant value to AVZ shareholders, including the possible option to attract strategic cornerstone equity partners at the project level, which will assist to de-risk and potentially accelerate Manono’s development.”

“The placement also assists our financing discussions, providing capital for up-front debt finance establishment costs, ensuring minimum liquidity requirements are met, whilst providing debt financiers with confidence from seeing a transition to a larger, supportive non-retail shareholder base, providing AVZ with a solid foundation from which to negotiate favourable terms,” he added.

The post Why the AVZ (ASX:AVZ) share price is sinking 8% today appeared first on The Motley Fool Australia.

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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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Shares in Chalice Mining Ltd (ASX: CHN) are up this morning following news from the company’s Julimar nickel-copper-platinum element project. The Chalice Mining share price is currently $7.13 – 2.15% higher than its previous closing price.

The latest news from Chalice is of more high-grade assay results from a step-out drilling program, further defining the Julimar project’s mineralisation.  

What were the findings?

Today, Chalice declared initial assay results from a drilling program at its Julimar project’s Gonneville intrusion have found significant high-grade mineralisation.

The company reported results from 75 new drill holes. They found:

• 298 mineralised intervals (more than 4 metres wide and more than 0.3 grams of palladium per tonne cut-off grade)
• 215 high-grade platinum group element intervals (more than 2 metres wide and more than 1 gram of palladium per tonne cut-off grade), including:
  • 53 high-grade palladium-nickel-copper intervals (more than 2 metres wide, more than 1 gram of palladium per tonne and more than 0.5% nickel and copper cut-off grade)

Chalice is expecting to get results from another 137 drill holes back within the next 9 weeks. The drilling program is ongoing.

About Chalice’s Julimar project

The Julimar project is just 70km north-east of Perth, Western Australia.

A maiden mineral resource estimate for the project’s Gonneville discovery is expected in the final quarter of this year.

Additionally, the Gonneville discovery is seemingly part of a roughly 26km-long intrusive complex named the Julimar complex. Chalice has identified several highly prospective targets along the complex, but they haven’t been drill tested yet.  

Chalice expects to begin exploration, resource definition, and environmental baselining and studies at Julimar during the current financial year.

Commentary from management

Chalice’s managing director Alex Dorsch said:

These latest results confirm continuous zones of high-grade sulphide mineralisation, as well as a large oxide / disseminated sulphide footprint…

Step-out drilling is continuing to test the extent of the Gonneville intrusion in this direction. Our understanding of the geology and metallogenesis of the deposit continues to improve as we gather more data.

Concurrently with the 7-rig resource drill-out, we are also progressing a comprehensive metallurgical testwork program on both the sulphide and oxide mineralisation at Gonneville.

Chalice Mining share price snapshot

Since being crowned one of the ASX’s best performing mining shares in financial year 2021, the Chalice share price has slid 5.9%.

However, it’s still 62% higher than it was at the start of 2021. It has also gained a whopping 658% since this time last year.

The company has a market capitalisation of around $2.5 billion, with approximately 346 million shares outstanding.  

The post Chalice (ASX:CHN) share price gaining on high-grade assay results 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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FY21 has been a positive year for blue chip shares with the S&P/ASX 200 Index (ASX: XJO) rising 20.44%. A great result compared to this time last year when the ASX 200 had plummeted 11 per cent amid the economic impacts of COVID-19.

The index is the benchmark for Australian equity performance as it lists the 200 largest ASX stocks. We take a look at 3 ASX 200 stocks that were growth outliers in FY21.

Netwealth Group Ltd (ASX: NWL)

In the past 12 months, the Netwealth share price has shot up more than 76%. As well as more than tripling the ASX 200 index increase, the company has also exceeded the Australian Capital Markets industry which returned 20.8% over the past year.

It seems Netwealth has been riding the perfect storm. In its half-yearly report, the financial services company increased its funds under administration (FUA) for the half by $7.3 billion, or around 23%, taking its total FUA as at 31 December 2020 to $38.8 billion.

In April, Netwealth released its third-quarter update which showed Netwealth’s FUA had reached $41.8 billion. An increase of $3 billion or 7.8% since the end of December, including a positive market movement of $0.8 billion.

As of 29 June, investment company BlackRock put the average price-to-earnings (P/E) ratio across the ASX 200 at 24.47. Netwealth’s P/E ratio currently sits at 78.53. The Netwealth share price was trading at $16.75 at market close on Thursday.

Goodman Group (ASX: GMG)

The Goodman Group share price increased 34.3% over the past 12 months. The property group also performed well when compared to the real estate investment trust (REIT) industry which returned 24% over the same time.

Goodman is a property services group with a $39 billion market cap. In its half-year results for the six months ended 31 December, the company reported a 16% increase in operating profit to $614.9 million. In addition, demand for its properties were so strong, that the company leased an additional 1.9 million square metres. 

Goodman ended the third quarter on a positive note, its earnings results for that period showing a net property income increase of 3.3% and an occupancy rate standing at 98%.

Goodman’s P/E ratio currently stands at 22.4 which appears a fair value compared to the index. The Goodman share price closed at $21 on Thursday.

Sonic Healthcare Limited (ASX: SHL)

Sonic Healthcare was another top performer in FY21, returning a solid 24% lift over the last 12 months. This beats the ASX 200 index as well as the Australian healthcare industry which increased over the same period by 18%.

Sonic Healthcare is a global pathology and medical imaging provider. In February, Sonic’s half-yearly report was full of positive news including revenue growth of 33% to $4.4 billion, earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 89% to A$1.3 billion and net profit growth of 166% to $678 million.

In June, Sonic took a significant step, by acquiring the Canberra Imaging Group (CIG). The company called this “a positive step” in the development of its imaging division in Australia.

On 30 June, Sonic shares hit an all-time high of $38.51. Despite the growth, Sonic Healthcare is still well-priced according to its P/E ratio of around 19.

The Sonic share price was trading at $38.08 at Thursday’s market close.

The post 3 blue chip shares that smashed the ASX 200 index in FY21 appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas 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 Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. The Motley Fool Australia has recommended Sonic Healthcare 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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It’s head above the clouds for the ResMed Inc (ASX: RMD) share price, which marked a new all-time high of $33.14 on 30 June.

Despite no price-sensitive news last month, shares in the respiratory device company rallied by an impressive 20.8%.

Let’s take a closer look at what might have influenced the move to record highs.

ResMed share price surges after product recall

Health technology conglomerate Philips announced a major product recall for a number of its ventilator devices to “address identified potential health risks”.

Philips identified potential health risks relating to the polyester-based polyurethane (PE-PUR) sound abatement foam component in these devices.

The company said the PE-PUR foam may degrade into particles, entering the device’s air pathway and be ingested or inhaled by the user.

While there have been no reports of death, the company flagged potential risks including headache, irritation, inflammation, respiratory issues, and possible toxic and carcinogenic effects.

Philips released this news on 14 June, coinciding with a 6.39% surge in ResMed shares to $30.31.

By month’s end, the ResMed share price would rally by 15.11% to $32.79.

What else should investors know?

Investors might want to note the volatile nature of ResMed shares, especially in the wake of its quarterly results.

Take the company’s most recent third quarter results on 30 April, for example.

ResMed reported a 0.1% fall in revenue to US$768.8 million against the elevated prior corresponding period. This period was boosted by heightened demand for its ventilators amid the peak of COVID-19.

Unfortunately, the ResMed share price crashed 6.34% to $25.41 on the day of the announcement.

Similarly, its second quarter results also exhibited a wild swing in share price. It slipped 1.09% on the day of the announcement and a further 3.57% the next day to $26.44.

However, the quarterly results do not always signal a fall.

The company’s first quarter results on 30 October 2020 witnessed a 9.45% spike in the ResMed share price to $27.92.

The post The ResMed (ASX: RMD) share price was up 20% in June. Here’s why appeared first on The Motley Fool Australia.

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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 recommended ResMed. The Motley Fool Australia has recommended 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 Piedmont Lithium Inc (ASX: PLL) share price is under pressure on Friday despite announcing its expansion into Africa.

At the time of writing, the lithium explorer’s shares are down 1% to $1.03.

Why is the Piedmont Lithium share price under pressure?

This morning Piedmont Lithium announced definitive agreements to establish a strategic partnership with IronRidge Resources (IRR) through the purchase of an equity stake in the London listed lithium explorer.

According to the release, Piedmont Lithium will invest approximately $15 million (10.8 million pounds) to acquire a 9.47% equity interest in IRR. In addition to this, Piedmont Lithium has the opportunity to earn a 50% stake in IRR Ghana business.

The release notes that IRR Ghana has an impressive portfolio of spodumene prospects, anchored by the highly promising Ewoyaa Project. This project has a current mineral resource of 14.5Mt @ 1.31% lithium oxide with vast exploration potential. Management believes it has the potential to be a large, low-cost spodumene concentrate (SC6) producer.

To earn a 50% interest in the IRR Ghana business, Piedmont Lithium will need to invest $17 million to fund ongoing exploration and a definitive feasibility study over the next 24 months and then a further $70 million in 2023-2025 to fund the construction of the Ewoyaa Project.

After which, the two parties have entered into a binding SC6 supply agreement, conditioned on Piedmont Lithium completing its earn-in obligations, pursuant to which IRR will supply it with 50% of IRR Ghana’s planned SC6 production (currently estimated to be 147,500 tonnes per year) at market prices on a life-of-mine basis.

While the company has a strong balance sheet, investors may be concerned that this development will require another capital raising in the not so distant future.

Management commentary

Piedmont Lithium’s President and Chief Executive Officer, Keith D. Phillips, commented: “We are very pleased to announce a partnership with IronRidge Resources to jointly develop their outstanding spodumene project portfolio in Ghana. We consider IRR’s Ewoyaa Project to be among the world’s most promising spodumene projects.”

“The high-grade mineral resource is currently modest in scale but offers substantial exploration potential, and the project is very well-located, being only 70 miles from a major port. Ewoyaa builds on Piedmont’s strategic commitment to be a large-scale and low-cost producer of lithium hydroxide from spodumene concentrate sourced from diverse sustainable resources in favorable jurisdictions,” he added.

Despite today’s weakness, the Piedmont Lithium share price is still up almost 180% in 2021.

The post Piedmont Lithium (ASX:PLL) share price slides despite African expansion appeared first on The Motley Fool Australia.

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• Why the Piedmont Lithium (ASX:PLL) share price is lifting today

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 Piedmont Lithium 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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