The Fatfish Group Ltd (ASX: FFG) share price is rocketing today, up 7% in early afternoon trade, having earlier posted gains of 19%.

At the time of writing, the Fatfish share price is trading in the green at 6.2 cents apiece.

Below we look at the news out today from the ASX tech share.

What did Fatfish announce?

Fatfish’s share price is surging after the company reported fresh monthly and quarterly sales records at its insurtech (insurance and technology) investee company Fatberry.

Fatfish, along with its Swedish-listed subsidiary Abelco Investment Group, together own 61% of Fatberry.

According to today’s release, sales increased 36.7% from May to June, hitting $569,599 in monthly gross sales in June.

Total sales for the first half of 2021 of $1,977,391 represent a record high for Fatberry.

The Fatfish share price also may be getting a boost from its report that Fatberry’s quarter-on-quarter average sales growth over the past 4 quarters is at 478% per quarter.

What did management say?

Commenting on the results, Fatberry CEO John Tan said:

Fatberry is riding on a very strong growth momentum. We are breaking our own records every quarter and growth is seen continuously in all operational measurements, from visitor counts on our website to overall sales performance.

The company has equipped itself with the right business model, stellar team and technology to drive this exponential growth for quite a while more.

Fatberry’s current insurance products cover vehicles, motorbikes, personal accident and travel insurance. The company plans to launch a new insurance product category before the end of September.

Fatfish share price snapshot

The Fatfish share price has been a standout performer over the past 12 months, gaining 530%. By comparison the All Ordinaries Index (ASX: XAO) is up 26% over that same time.

Year-to-date, Fatfish’s share price has continued to outperform, up 58% in 2021.

Fatfish and its Swedish subsidiary, Abelco, operate from innovation hubs in Singapore, Kuala Lumpur and Stockholm.

The post Why the Fatfish (ASX:FFG) share price is storming 7% higher today appeared first on The Motley Fool Australia.

More reading

• Why this small-cap ASX share can follow $6 billion rival
• Alexium (ASX:AJX) share price rockets 34% on sales update
• When was the best day on the Zip (ASX:Z1P) share price chart in 2021?
• Why the DroneShield (ASX:DRO) share price is soaring 7% today
• Why the Adacel (ASX:ADA) share price is rocketing 39% today

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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What if you knew of a small-cap ASX share that was doing all the right things that its bigger rival did years ago?

If you could see how it could grow as big as the larger competitor, would you be tempted to buy in?

NovaPort Capital analyst Tim Binsted is certainly excited when he’s fishing for small-cap “tiddlers that can grow into tomorrow’s whales”.

And he reckons he’s just caught one.

“Laboratory and environmental services business HRL Holdings Ltd (ASX: HRL) is capitalised at just over $55 million and the journey of ASX-listed peer ALS Ltd (ASX: ALQ) — capitalised at more than $6 billion — gives some indication of the market opportunity.”

A small-cap that’s already profitable

A major upside of HRL, according to Binsted, is that it’s in the black already.

“Unlike many early-stage businesses, HRL is already profitable,” he said on the NovaPort blog.

“This meets a key criterion that NovaPort Capital looks for in emerging companies: cashflows that can fund growth without the downside risk associated with many high-growth, high cash-burn businesses.”

Binsted showed a comparison of underlying earnings margins of HRL and its competitors, which showed it ranked 3rd in a field of 9.

“HRL generates margins that are very healthy when judged against a peer set of much larger businesses.”

The business also has “a strong balance sheet with negligible debt”, according to Binsted.

3 paths to growth

Binsted’s team thinks HRL’s testing capabilities in food and water quality and environmental hazards put it in an excellent position for growth.

There are 3 ways that it could grow:

• Investment in existing operations (new tests, equipment upgrade, new regions)
• Bolt-on acquisitions to expand services or customer demographics
• ‘Transformational’ acquisition for rapid expansion

According to Binsted, HRL is pursuing all 3 avenues.

“The recent acquisition of Water Testing Hawkes Bay in New Zealand, while small, demonstrates the capacity to continually expand the group’s testing lines,” he said.

“HRL is also investing in a joint venture with Milk Test NZ called Food Lab that has just commenced trading and will begin with a focus on the NZ dairy industry.”

HRL leadership estimate Food Lab’s addressable market is about NZ$40 million, to be fought over with 2 main competitors.

“Snaring a third of this market would be material given HRL’s current revenues of around $35 million.”

As for that massive transformational takeover, the chair of HRL is a man named Greg Kilmister.

“Kilmister was the chief executive of ALS Limited and took the business from a market cap of less than $400 million to more than $3 billion,” said Binsted.

“That’s the kind of steady hand that provides comfort in any big strategic moves or tough patches.”

HRL has a clear plan

Binsted was impressed that HRL presented a very precise 3-year plan for growth during its recent financial year 2021 results announcement.

“This will require reinvestment, but we are willing to back management to use shareholder capital wisely and drive value-accretive growth.”

The company has a software arm called Octfolio which Binsted’s team thinks has tremendous potential.

“Octfolio’s hazardous materials, workplace safety, and field management software generates just under $1 million in revenue. At that size, it has proof of concept and customer validation but is immaterial to earnings and valuation,” the analyst said.

“With a re-energised sales focus, Octfolio could become a significant, and high value, revenue stream. Its current contribution is not valued by the market, so the upside is large relative to any downside.”

Small-cap risk

Of course, Binsted reminded investors that no ASX share is a sure thing.

“Growth is not a right and markets are competitive. There are no guarantees that HRL’s organic investment drive will bear fruit,” he said.

“It is also possible that the share price will suffer near-term as the growth initiatives crimp current earnings ahead of any potential revenue growth.”

HRL currently operates in “a comfortable niche”, but desperately needs economies of scale to elevate to the next level.

“Failure to get to scale or a misguided acquisition in the quest to bulk up are 2 further risks to our investment thesis.”

The post Why this small-cap ASX share can follow $6 billion rival appeared first on The Motley Fool Australia.

More reading

• Why the ALS (ASX:ALQ) share price is charging higher today

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 Alexium International Group Ltd (ASX: AJX) share price is surging on Thursday after the company released a sales update.

At the time of writing, Alexium shares are up 34.72% to 9.7 cents. However, they are currently in a pause in trading, pending a further announcement.

The company is a producer of advanced cooling and fire-resistant textiles. It focuses on consumer market segments such as bedding, clothing and sporting goods.

What did Alexium announce?

Last year, Alexium rebranded its proprietary biobased and biodegradable phase change materials (PCM) as BioCool.

According to today’s announcement, BioCool has made strong progress in adoption and sales.

Alexium said BioCool product sales have risen to 48% of the company’s total product sales for mattresses, including textile and foam applications.

Alexium Vice President Chris Crawford said of the progress: “Market reception to our BioCool product line has been very positive, and we are encouraged by the rapid adoption from our current customers.”

The positive sales update has seen strong buying activity and a rise in the Alexium share price. It has rallied from a 7.7 cents open to 9.7 cents at the time of writing.

What’s next for Alexium?

Alexium is targeting a number of initiatives to drive revenue growth this year.

The company said initial sales have been focused on the textiles market and migrating existing bedding textile customers to BioCool products.

The company believes the “demonstrable all-round superior characteristics” of BioCool products will make it an attractive proposition for other textile applications including foam bedding applications.

About the Alexium share price

Alexium has a market capitalisation of just $46 million.

The micro cap logged some significant gains in the past month, lifting 30% on 23 July from 4.9 cents to 6.4 cents.

Alexium shares are surging on Thursday, on the back of approximately 16.35 million shares changing hands by lunchtime.

This compares to the company’s 10-day average volume of approximately 5.52 million.

The post Alexium (ASX:AJX) share price rockets 34% on sales update appeared first on The Motley Fool Australia.

More reading

• Here’s why the Alexium (ASX:AJX) share price surged 9% today

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 Zip Co Ltd (ASX: Z1P) share price hasn’t exactly made a reputation for itself as a ‘steady’ stock.

Just take Zip shares’ 52-week range. Over the past 12 months, the buy now, pay later (BNPL) company has traded at a share price of between $4.96 and $14.53. That’s a difference of almost 200%.

As it stands today, the Zip share price is currently up 0.77% to $7.88.

But when was Zip’s best day for shareholders in 2021 so far?

Zip-a-Dee-Doo-Dah

The best day (actually, two days) for the Zip Co share price in 2021 was back on 15 and 16 February. The price soared by more than 13% on 15 February at one point. And by more than 16% on 16 February.

That was the date Zip’s current 52-week (and all-time) high of $14.53 a share was hit. In the month to 16 February, the Zip share price ended up putting on an incredible 148%.

The speed of this run-up actually prompted the ASX to issue a speeding ticket to Zip at the time. Zip was forced to tell the ASX that it wasn’t aware of any reason why its shares were so ‘in demand’ over the preceding few days.

As you might have gathered, this incredible run was not to last. The Zip share price fall ended up being just as steep as its climb.

Between 16 February and 30 March, Zip went on to lose roughly half of its share price value. By May, the shares had fallen back under $7.00 a share.

Over the rest of the year to date, Zip has been far more muted, more or less trading in the $6.50-$8.00 range.

Although saying that, Zip has been on another run recently, rising almost 20% in August so far.

Could the Zip share price be a buy today?

As my Fool colleague James covered earlier this week, one broker who thinks there is still some gas left in the tank with Zip shares is Citi.

Citi retained its ‘buy’ rating on Zip this month and kept its $8.90 price target. This implies a potential upside of 13% from current pricing.

As James covered at the time, Citi listed the recent news that Zip’s BNPL rival Afterpay Ltd (ASX: APT) is working on a merger with the US payments giant Square Inc (NYSE: SQ) as a positive for Zip shares.

It noted that it raises the potential takeover appeal of Zip, even though it also thinks competition in the BNPL space is heating up.

At the current Zip Co share price, the company has a market capitalisation of $4.44 billion.

The post When was the best day on the Zip (ASX:Z1P) share price chart in 2021? appeared first on The Motley Fool Australia.

More reading

• Up 20% in 10 days: Can the Zip (ASX:Z1P) share price keep rising?
• Afterpay and Zip were among the most traded ASX shares last week
• Here are the 10 top moving ASX shares on Monday
• How did the Zip (ASX:Z1P) share price respond last earnings season?
• These are the 10 most shorted ASX shares

Motley Fool contributor Sebastian Bowen owns shares of Square. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Square, 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 DroneShield Ltd (ASX: DRO) share price is flying higher today following a positive release by the drone technology company.

During early afternoon trade, DroneShield shares are up 7.32% to 22 cents. In comparison, the All Ordinaries Index (ASX: XAO) is marginally up 0.1% to 7,864 points.

What did DroneShield announce?

Investors appear upbeat about the company’s prospects, sending DroneShield shares higher.

According to its release, DroneShield said that it had received a $1.1 million grant award from the Australian government. The cash payment is recognised as a research and development tax incentive for its activities undertaken in 2020.

DroneShield CEO, Oleg Vornik touched on the award, saying:

DroneShield appreciates the substantial support it receives from the Australian Government at Federal and State level. We are a high-tech defence and homeland security business, employing over 30 engineers in Australia presently, and rapidly growing. This grant reflects the world-class cutting-edge R&D work done here in Australia.

The company noted that the grant will be reflected in the cash receipts for its third-quarter report. This is expected to be released sometime in October 2021.

Quick take on DroneShield

A global leader in drone security technology, DroneShield designs and develops detection systems that use specialised technology to protect people, organisations and critical infrastructure from drones.

Its multi-layered drone countermeasures include detection and disruption products which are much needed in the current environment.

DroneShield share price snapshot

It has been a positive 12 months for DroneShield shareholders, with the company’s shares up 60%. However, during this time, the DroneShield share price has been volatile, moving between 13 cents and 25 cents.

Recently, its shares were trading for as little as 15 cents in early July and are now 22 cents. This reflects a gain of almost 50% in the space of just over a month.

DroneShield presides a market capitalisation of roughly $87.7 million, with approximately 400 million shares on its registry.

The post Why the DroneShield (ASX:DRO) share price is soaring 7% today appeared first on The Motley Fool Australia.

More reading

• Why the Adacel (ASX:ADA) share price is rocketing 39% today
• The Crown (ASX: CWN) share price lifts after last-ditch licence push
• ASX tech shares lagging the ASX 200 on Thursday
• The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why
• Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today

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 recommended DroneShield Ltd. The Motley Fool Australia has recommended DroneShield Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Adacel Technologies Limited (ASX: ADA) share price has been a very strong performer on Thursday following the release of its full year results.

In morning trade, the air traffic management software company’s shares were up as much as 39% to a 52- week high of $1.43.

Adacel share price rockets after doubling its profits

• Revenue increased 1.1% to $40.2 million
• Gross margin expanded by almost 5 percentage points to 40.1%
• Earnings before interest, tax, depreciation and amortisation (EBITDA) up 117.6% to $9.8 million.
• Net profit after tax jumped 101.7% to $7.3 million
• Final unfranked dividend per share doubled to 3.25 cents, bringing full year dividend to 6 cents per share (up 140% year on year)
• FY 2022 guidance: Profit before tax growth of up to 5.2%

What happened in FY 2021 for Adacel?

As you might have guessed from the Adacel share price reaction, FY 2021 was a significant improvement on a difficult prior period. This was thanks to a strong performance from its Systems segment, which offset a slightly weaker performance by its larger Services segment.

During FY 2021, revenues in its Systems segment increased by 25.9% from $9.7 million to $12.3 million. This was driven by a higher number of systems implemented, including the delivery of additional Air Traffic Control Common Simulators (ACS) units to the US Army.

The Services segment, which comprises all recurring revenue, including software maintenance and all aspects of system support, field services, and on-site technical services, saw its revenue fall from $30 million to $28 million. This was driven largely by foreign exchange headwinds. But thanks to improvements in its margins, the impact on its earnings wasn’t as great.

What did management say?

Adacel’s CEO Daniel Verret said: “This was a remarkable year in many regards. Unprecedented unknowns due to COVID-19, major business adjustments to sustain productivity while working remotely, quick development of creative solutions to support our commitments, successful delivery of significant projects, and a remarkably strong business output by the company.”

“We are pleased to report on our strong financial performance for FY2021 and delivered improved financial performance across all major financial indicators,” he added.

What’s next for Adacel?

In FY 2022, the company intends to begin reporting in US dollars. Management believes this will provide a more relevant representation of the company’s financial position in comparison to its peers.

With that in mind, the company is guiding to profit before tax of US$5.7 million to US$6 million in FY 2022. This represents growth of 0% to 5% on FY 2021’s profit before tax of US$5.7 million.

Adacel’s Chairman, Michael McConnell, commented: “In late FY 2019, we outlined our strategy to focus on the Company’s core businesses and customers supported by the implementation of a set of management disciplines and metrics to drive operational efficiency and accountability.”

“Today, we reported continued execution against those basic principles and improvement in financial performance.”

“Having solidified Adacel’s operational, product, and financial foundation, this year we will invest in our sales capabilities to drive future growth. Moreover, we will continue to drive shareholder returns through our balanced capital management strategy, including dividends, share buybacks, and potential M&A activity,” he added.

Adacel share price continues to outperform

Following today’s gain, the Adacel share price is now up a whopping 150% over the last 12 months. This compares very favourably to a strong 25% gain by the All Ordinaries over the same period.

The post Why the Adacel (ASX:ADA) share price is rocketing 39% today appeared first on The Motley Fool Australia.

More reading

• The Crown (ASX: CWN) share price lifts after last-ditch licence push
• ASX tech shares lagging the ASX 200 on Thursday
• The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why
• Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today
• ASX 200 midday update: Telstra, NAB, & QBE results

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 Crown Resorts Ltd (ASX: CWN) share price is gaining today after the company made a last-ditch attempt to convince regulators to allow it to keep its Victorian casino licence.

Within its final submission to the Victorian Royal Commission into the casino operator, Crown stated the company’s licence benefited both the Victorian Government and the community.

Right now, the Crown share price is $9.21, 4.84% higher than its previous close.

Let’s take a closer look at Crown’s plea for its licence and what may happen to the Melbourne Casino Complex if the company fails to retain it.

Crown’s last resort

The Crown share price is gaining today following the company’s final submission to the Victorian Royal Commission.

The company’s latest argument is if it loses its casino licence, it would be forced to sublet the casino on Melbourne’s South Bank. According to Crown, that would make the complex less profitable and less enjoyable for visitors.

Within the submission, Crown stated:

[D]is-integration of the integrated resort would be more likely to result in reduced casino tax, significant inefficiencies, an inferior offering for customers and employees and a substantially diminished offering to tourism and the State of Victoria.

Crown currently holds a 99-year lease on the property. This means it would have to sublet the gaming segment to a competitor if it were unable to operate it.

However, Crown would still be able to operate all non-casino parts of the complex. Aside from the casino itself, the Melbourne Casino Complex houses hotels, restaurants, retail stores, residential and office accommodation, open space areas, and entertainment and recreation facilities.

While it looks like a desperate attempt to save skin, this might be good news for the Crown share price. It has reinforced that if the company loses its casino licence, it may still draw a profit from the complex. Albeit, a smaller return than its current profit.

According to a report in the Australian Financial Review last week, royal commissioner Ray Finkelstein has responded to such arguments before.

He has previously acknowledged there would be an adjustment period if another casino operator were to step in. However, the business is profitable and would continue to operate without major long-term impacts on Victoria as a whole.

Crown share price snapshot

Today’s gains aren’t enough to boost the Crown share price out of the red in 2021.

It has fallen 7% since the start of this year. It is also 1% lower than it was this time last year.

The company has a market capitalisation of around $5.9 billion, with approximately 677 million shares outstanding.

The post The Crown (ASX: CWN) share price lifts after last-ditch licence push appeared first on The Motley Fool Australia.

More reading

• Crown (ASX:CWN) share price edges higher despite Victorian lockdown
• Crown (ASX:CWN) share price gains as Coonan plans to step down
• Crown (ASX:CWN) share price up despite Crown Melbourne CEO exiting
• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high
• These were the worst performing ASX 200 shares in July

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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Heading into the backend of Thursday, the S&P/ASX 200 Index (ASX: XJO) is slightly above yesterday’s closing price. While the broader market is holding above breakeven, ASX tech shares are not enjoying the same fate.

At the time of writing, the benchmark index is 0.06% higher to 7,588.7 points. Here’s how the market is panning out on Thursday:

ASX tech shares a mixed bag

The ASX has been setting new records over the past few weeks, but Thursday is looking a little less predictable for another gain.

While the index is currently in the green, not all sectors are moving in the same direction in today’s session. Some of the ASX 200’s strongest performers include QBE Insurance Group Ltd (ASX: QBE), Downer EDI Limited (ASX: DOW), and Telstra Corporation Ltd (ASX: TLS) on the back of reporting.

Meanwhile, ASX 200 tech shares are struggling to find the same optimism from investors. The sector is 0.7% lower with Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) dragging into the red. In particular, Xero shareholders have been selling off the accounting software company following its annual general meeting. The ASX tech share guided for operating expenses to range between 80% to 85% of operating revenue in FY22.

Reporting season in full swing

Thursday morning has been jampacked with ASX action. Australian big-name shares such as AMP Ltd (ASX: AMP), AGL Energy Limited (ASX: AGL), and Telstra have dealt their full-year results. Currently, the Telstra share price is up by 4.05%.

While we are very much in the midst of the reporting season, a large portion of ASX shares are set to report towards the tail end of August. Some of these companies include our ASX tech staples, such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX). Don’t forget to check out our ASX reporting calendar to stay up to date.

The post ASX tech shares lagging the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Telstra, NAB, & QBE results
• Xero (ASX:XRO) share price edges lower after annual meeting
• 5 things to watch on the ASX 200 on Thursday
• Here are 3 of the most heavily traded ASX 200 shares today
• ASX 200 rises, CBA climbs after FY21 report, Iress jumps

Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO and Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, Telstra Corporation Limited, and Xero. 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 Creso Pharma Ltd (ASX: CPH) share price isn’t going anywhere on Thursday. This comes after the cannabis and psychedelics company requested a trading halt in the minutes during market open.

As such, Creso Pharma shares are frozen at 13 cents apiece. It’s worth noting the company’s shares have gained 13% in the past week.

Why are Creso Pharma shares in a trading halt?

Creso Pharma shares were placed in a trading halt this morning pending an important announcement from the company.

In a statement to the ASX, Creso Pharma said the announcement is regarding the receipt of a material licence from Health Canada.

While no further details have been given, Creso Pharma’s wholly-owned subsidiary, Mernova, was yesterday granted a licence extension to sell medicinal cannabis in Canada.

The news sent the Creso Pharma share price as high as 14 cents, however some profit taking occurred. Its shares ended the day 4% higher at 13 cents.

The green light allows Mernova to expand its sales base by entering the medicinal cannabis market in Canada. In May 2020, the company had received a recreational market licence from Health Canada.

Under the new licence, Mernova can sell its products directly to consumers who are licenced to obtain cannabis for medical purposes. In the past, Health Canada had only allowed the company to sell its medicinal products through wholesalers.

The shares will remain in pre-open until an official announcement is made or the start of trade on Monday 16 August, the company said.

Creso Pharma share price summary

Since this time last year, the Creso Pharma share price has risen sharply by more than 200%. However, in 2021, the company’s shares paint a different picture for investors, down almost 30%.

Creso Pharma has a market capitalisation of roughly $155.5 million with approximately 1.2 billion shares on its registry.

The post The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here’s why the Creso Pharma (ASX:CPH) share price is up 8% today
• Here’s why the Creso Pharma (ASX:CPH) share price is up 7%
• Why the Creso Pharma (ASX:CPH) share price is soaring 9% higher today
• Here’s why the Creso Pharma (ASX:CPH) share price is surging 15% higher

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

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The Antipa Minerals Ltd (ASX: AZY) share price is marching higher today, up 1% after earlier posting gains of more than 4%.

Below we take a look at what’s driving investor interest in the ASX resource explorer.

What did Antipa announce?

The Antipa share price is gaining today after the company reported more high-grade gold results at its 100% owned, Minyari Dome Project in Western Australia.

The company has received assays from 11 drill holes. Among the highlighted results, one of the drill holes returned copper and gold intersections including:

28.0m at 1.63 grams per tonne of gold and 0.18% copper from 161.0 metres down hole including:

– 14.0m at 2.67 g/t gold and 0.32% copper from 173.0m, also including:

• 0m at 4.11 g/t gold and 0.38% copper from 176.0m; and
• 0m at 7.88 g/t gold and 0.40% copper from 186.0m

Antipa reported it has now completed 21,400 metres of Resource infill, Resource extensional and brownfield discovery in its Phase 1 drilling campaign. It’s still awaiting assays for 14,000 metres.

Commenting on the new results, Antipa’s managing director, Roger Mason said:

Resource definition drilling continues to intersect strong gold mineralisation over wide intervals which will support a revised resource estimate and project development studies.

At Minyari, high‐grade gold and copper mineralisation has been intersected along 500 metres of strike, down to 600 metres below the surface and across a horizontal width of up to 275 metres, and mineralisation remains open in several directions.

Mason said the company’s Phase 2 drill program has been expanded towards resource extension targets. Those include Minyari East and “a number of high priority greenfield targets”.

These are all within 3 kilometres of Antipa’s existing Minyari and WACA resources.

The company currently has 3 drill rigs on site and expects its Phase 2 drill program to finish in October.

Antipa Minerals share price snapshot

The Antipa Minerals share price is up 23% over the past 12 months, largely in line with the 25% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Antipa Minerals share price is also up 23%.

The post Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today appeared first on The Motley Fool Australia.

More reading

• Why the Antipa Minerals (ASX:AZY) share price is surging today

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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