If you’re on the lookout for some dividend shares to add to your portfolio, then you may want to check out the ones listed below.

Here’s why these ASX dividend shares could be in the buy zone:

Aventus Group (ASX: AVN)

The first ASX dividend share to look at is Aventus. It is a fully integrated owner, manager, and developer of large format retail centres in Australia.

At the last count, Aventus had a portfolio of 20 centres valued at $2.2 billion and spanning 536,000m2 in gross leasable area. It also has a diverse tenant base of 593 quality tenancies, with national retailers representing 87% of the total portfolio.

Demand for the company’s tenancies has remained strong during the pandemic, underpinning strong rental collections. This led to a 6.5% increase in funds from operations (FFO) to $55.9 million during the first half. In addition, a recent update reveals that the valuation of its properties has increased 12% since then.

One broker that is very positive on the company is Goldman Sachs. It currently has a buy rating and $3.27 price target on its shares. This compares to the latest Aventus share price of $3.15.

Goldman is also forecasting yields of approximately 5.4%, 6.1%, and 6.6%, respectively, between FY 2021 and FY 2023.

Integral Diagnostics Ltd (ASX: IDX)

Another ASX dividend share to look at is Integral Diagnostics. It is a medical imaging service provider that operates from a total of 72 radiology clinics across the country.

As with Aventus, Integral Diagnostics has been a solid performer in FY 2021. For example, during the first half of FY 2021, it reported a 29.5% increase in revenue to $170.7 million and a 61.1% jump in net profit after tax to $23.2 million.

Goldman Sachs is also positive on Integral Diagnostics and has a buy rating and $5.50 price target on its shares. The broker believes it is a well-run business in an attractive industry, with a relatively secure volume profile of mid/high single digit growth, and a clear path for further growth through brownfield and M&A activities.

Its analysts are forecasting fully franked dividends per share of 11 cents, 14 cents, and 15 cents between FY 2021 and FY 2023. Based on the latest Integral Diagnostics share price of $5.36, this will mean yields of 2%, 2.6%, and 2.8%, respectively.

The post 2 growing ASX dividend shares analysts rate as buys 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 recommended AVENTUS RE UNIT and Integral Diagnostics 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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There are a group of ASX dividend shares that are currently offering very high dividend yields compared to the overall market.

These are businesses that generally have a high dividend payout ratio and a modest valuation. High valuations push down prospective yields.

In a world where interest rates are exceptionally low, high dividend yields may be attractive.

Nick Scali Limited (ASX: NCK)

Nick Scali is a relatively large furniture business, with a market capitalisation of around $1 billion according to the ASX.

It’s currently rated as a buy by Citi. The broker points out that Nick Scali has a strong balance sheet that can help shareholder returns.

Indeed, the ASX dividend share recently confirmed that it is in non-exclusive discussions with Greenlit Brands about a potential deal to buy the Plush Sofas business.

Nick Scali said it actively considers acquisition opportunities to produce growth from time to time, if it makes strategic sense. It has to have the potential for synergies, have a good financial impact and create long-term for Nick Scali shareholders. If the deal goes ahead, it’ll be funded by cash and debt, but there’s no guarantee the deal would go ahead.

Its total written sales orders for the group continue to remain elevated, with growth of 50% in the third quarter. In April 2021, there was growth of 242% year on year when there were widespread store closures in FY20.

In FY21, Nick Scali is expecting earnings before interest, tax, depreciation and amortisation (EBITDA) to be approximately $120 million. Net profit after tax is expected to be in the range of $78 million to $80 million, an increase of between 85% to 90%.

Citi is expecting the FY22 dividend from Nick Scali to be 48.60 cents, which would translate to a grossed-up dividend yield of 5.6%.

The ASX dividend share has growth plans including expanding the store network, launching in adjacent product categories and improving its online offering.

Centuria Industrial REIT (ASX: CIP)

This is the largest pure play way to get exposure to industrial commercial property, in the form of a real estate investment trust (REIT).

Those properties are located in important metropolitan locations, with quality and diverse tenants.

The fund manager tries to provide capital growth and income for investors.

It recently spent another $86.1 million on three properties, being two distribution centres and a manufacturing property. Those assets come with an initial yield of 5% with a weighted average lease expiry of 5.8 years.

Prior to those acquisitions, in its revaluation update, the ASX dividend share said the pro forma net tangible asset (NTA) was $3.85 per unit. The portfolio had an occupancy rate of almost 99% with a WALE of close to 10 years.

Fund manager Jesse Curtis recently said:

Australia’s industrial real estate market remains a highly sought-after sector attracting investment demand from domestic and international capital. Within the past six months the market has seen elevated transaction volumes with major asset and portfolio sales setting new benchmarks…Strong sector tailwinds continue to provide long-term benefits to industrial real estate with e-commerce and onshoring increasing demand for quality industrial accommodation.

It’s currently rated as a buy by the broker Macquarie Group Ltd (ASX: MQG). The FY22 distribution is expected by the broker to be 18.3 cents per unit, which contributes to a forward distribution yield of 4.85%.

The post 2 ASX dividend shares with BIG dividend yields appeared first on The Motley Fool Australia.

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• 3 high-yielding ASX dividend shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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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On Monday the S&P/ASX 200 Index (ASX: XJO) started the week on a subdued note. The benchmark index finished the day slightly lower at 7,394.3 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to push higher on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.30% higher at the open. This follows a positive night of trade on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 climb 0.25%, and the Nasdaq edge slightly higher. The S&P 500 hit a new record high overnight.

Oil prices edge higher

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a positive day after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.1% to US$72.13 a barrel and the Brent crude oil price has risen 0.85% to US$74.72 a barrel. Traders were buying oil on the belief that the market is undersupplied.

Oil Search Q2 update

The Oil Search Ltd (ASX: OSH) share price will be one to watch when it releases its second quarter update this morning. Shareholders will be hoping that the energy producer’s performance has improved since the first quarter when it recorded a 2.7% quarter on quarter decline in net production to 6.9mmboe. Investors may also want to look out for any comments on the Santos Ltd (ASX: STO) merger proposal.

Gold price softens

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.25% to US$1,797.6 an ounce. The price of the precious metal fell despite weakness in the US dollar. Traders appear nervous ahead of another US Federal Reserve meeting.

Westpac asset sale update

The Westpac Banking Corp (ASX: WBC) share price will be on watch today. This follows the after market release of an announcement on Monday relating to its sale of its Pacific businesses. That update reveals that Papua New Guinea’s Independent Consumer and Competition Commission intends to deny authorisation to Kina Bank for the proposed acquisition of Westpac’s stake in Westpac Bank PNG.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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 Conico Ltd (ASX: CNJ) share price is one of the best ASX performers today. This comes after the mineral exploration company announced preliminary results from its first-ever drill-hole at the Ryberg Project.

Conico shares were up 67.5% at the close, trading at 5.7 cents, after earlier exploding 97.06% higher to reach a record-breaking high of 7 cents.

Quick take on the Ryberg Project

Located on the east coast of Greenland, the Ryberg Project is 100% owned and operated by Conico’s wholly-owned subsidiary, Longland. The latter holds licences that cover an area of 4,500 square kilometres.

According to the company, the Ryberg Project is considered an under-explored mineral province with a “significant amount of magmatism” within the Kangerlussuaq Basin. Geochemical analysis has identified samples rich in copper, palladium, gold, nickel, cobalt and platinum.

What did Conico announce?

The company reported that significant sulphide mineralisation had been detected from drill-hole MIDD001.

According to the release, Longland encountered a sequence of metamorphic rocks that contains zones of strong sulphide mineralisation. This is between a depth of 117 metres to 124 metres over a 4.5-metre-wide drill hole.

While the results are exciting, it’s worth noting that the samples have not been sent for laboratory analysis yet. Conico advised that the preliminary findings came from an observation by a qualified and experienced geologist.

A second drill-hole (MIDD002) is nearing completion, and rigs have been established on holes MIDD003 and MIDD004. All holes target the Miki Prospect, but the company has scheduled one rig to mobilise to the Sortekap Prospect later in the season.

In addition to the drilling, Longland is conducting a regional 200m line-spaced heliborne magnetic survey.

Longland CEO Thomas Abraham-James thanked Conico shareholders and directors for “putting their faith in Longland Resources” when they acquired the company last year.

We are a greenfields exploration company in a location far from Australia. They saw what I did in the potential of our Greenland assets. I take tremendous satisfaction in the first ever drill-hole to occur at Ryberg encountering significant sulphide mineralisation.

About the Conico share price

In the past 12 months, Conico shares have lifted more than 570%, with year-to-date up 110%. The company’s share price reached a multi-year high of 7 cents today.

Conico commands a market capitalisation of roughly $55.9 million, with approximately 916 million shares on issue.

The post Up 70%, the Conico (ASX:CNJ) share price is breaking records today appeared first on The Motley Fool Australia.

More reading

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• The Kogan (ASX:KGN) share price was a lockdown winner, so what’s going on now?
• Why the Piedmont Lithium (ASX:PLL) share price is down another 8%

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 Westpac Banking Corp (ASX: WBC) share price will be one to watch on Tuesday.

This follows the release of a disappointing update on a proposed asset sale after the market close.

What did Westpac announce?

Late last year Westpac announced an agreement with Kina Securities Ltd (ASX: KSL) for the sale of the bank’s Pacific businesses for up to $420 million. These comprise Westpac Fiji and Westpac’s 89.91% stake in Westpac Bank PNG.

Westpac decided to offload the businesses as part of its strategic decision to focus on consumer, business, and institutional banking in Australia and New Zealand.

Westpac’s Group Chief Executive of Specialist Businesses & Group Strategy, Jason Yetton, explained: “We are taking another step in becoming a simpler, stronger bank while ensuring a high standard of banking services is maintained for our Pacific customers, as well as providing new opportunities for our people.”

“Choosing the right purchaser for our businesses is important to us, our people and the communities we serve. We are pleased our Pacific businesses are being acquired by Kina Bank. Kina is a strong brand in the region and is well positioned with deep local knowledge to continue to help our consumer and business customers succeed,” Mr Yetton added.

However, things haven’t gone quite to plan, unfortunately.

What’s the latest?

This afternoon Westpac revealed that the sale still requires regulatory approvals in both Fiji and Papua New Guinea.

One of those approvals is from Papua New Guinea’s Independent Consumer and Competition Commission (ICCC). However, the ICCC has just released its draft determination indicating that it proposes to deny authorisation to Kina Bank for the proposed acquisition of Westpac’s stake in Westpac Bank PNG.

What now?

Westpac and Kina are currently reviewing the draft determination and intend to make further submissions to the ICCC before its final determination is issued in September.

Australia’s oldest bank believes the sale is the interests of Westpac’s customers and staff and the people of Papua New Guinea and Fiji.

It notes that Kina is committed to financial inclusion and innovation, plans to retain all local staff and branches, and intends to maintain two brands in PNG.

The post Westpac (ASX:WBC) share price on watch after asset sale blow appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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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Are you wanting to buy some blue chip ASX 200 shares for your portfolio? Then you might want to check out the ones listed below.

These quality companies could have the potential to grow at a solid over the next decade. As a result of this, they have been tipped as blue chips to buy. Here’s what you need to know:

Coles Group Ltd (ASX: COL)

The first blue chip ASX 200 share to look at is Coles. It is of course one of Australia’s big two supermarket chains with over 800 locations across the country. It also has over 900 liquor retail stores, over 700 Coles express stores, and the flybuys loyalty program.

From its store network, the company processes more than 21 million customer transactions each week, providing consumers with products from thousands of farmers and suppliers.

Due to this strong market position and its defensive qualities, a number of brokers have tipped Coles as a blue chip to buy. One of those is Goldman Sachs, which currently has a buy rating and $19.40 price target on its shares.

Goldman believes the supermarket giant is well-positioned for growth in the coming years and is forecasting solid increases in earnings and dividends. In respect to the latter, the broker has pencilled in fully franked dividends per share of 62 cents, 67 cents, and then 73 cents over the next three financial years. Based on the latest Coles share price of $17.66, this will mean yields of 3.5%, 3.8%, and 4.2%, respectively.

ResMed Inc. (ASX: RMD)

Another blue chip ASX 200 share for investors to look at is ResMed. It is a medical device company with a focus on sleep disorders.

Its cloud-connected medical devices are transforming care for people with sleep apnea, COPD, and other chronic diseases. In addition, its comprehensive out-of-hospital software platforms support the professionals and caregivers who are helping people stay healthy in the home or care setting of their choice.

And this certainly is a lot of people. At the last count, ResMed’s rapidly growing digital health ecosystem reached over 14 million cloud connectable medical devices. This helped increase the number of lives improved through its products to 121 million in 2020.

But it isn’t stopping there. The company still sees a significant runway for growth and is aiming to improve 250 million lives in out-of-hospital healthcare in 2025.

Analysts at Credit Suisse are positive on the company. The broker currently has an outperform rating and $37.00 price target on its shares.

The post 2 excellent ASX 200 blue chip shares named as buys 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 recommended ResMed. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET. 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 S&P/ASX 200 Index (ASX: XJO) was flat today, ending at 7,394 points.

Here are some of the highlights from the ASX:

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price climbed over 10% today after releasing its quarterly update for the three months to 30 June 2021.

The rare earth miner said that it achieved quarterly sales revenue of $185.9 million, up from $110 million in the third quarter of FY21. Its cash receipts increased to $192 million, up from $133 million in the prior quarter.

In terms of production, total rare earth oxide (REO) production was 3,778 tonnes (up from 4,463 tonnes) in the third quarter and NdPr production was 1,393 tonnes (up from 1,359 tonnes). Management said this was an excellent result due to the continuing challenges being presented by the pandemic, particularly in Malaysia.

The ASX 200 miner ended FY21 with a cash balance of $680.8 million, up from $568.5 million at 31 March 2021.

Lynas’ CEO, Amanda Lacaze, made some comments about the company’s progress:

Progress continued on our Lynas 2025 projects including the rare earth processing facility in Kalgoorlie and the proposed integrated US rare earths processing facility. Detailed engineering and design work for the heavy rare earths facility was submitted to the US committed in line with US Department of Defense (DoD) phase 1 milestones. The DoD is now conducting a merit evaluation of the submission.

Preparation for the next mining campaign has commenced at Mt Weld and a number of improvement projects are underway, including the commissioning of the second stack cell in late June and the installation of a second concentrate dryer.

City Chic Collective Ltd (ASX: CCX)

The City Chic share price has jumped today after announcing an acquisition and a trading update.

In the trading update it said that it saw FY21 sales of $258 million. That represented an increase of 32.9% year on year, with comparable sales growth of 31.6%. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be in the range of $42 million to $42.5 million. This would be growth of 58% to 60% compared to FY20.

City Chic also said that its trading in FY22 has exceeded the budget so far. The US and the UK performance has outweighed the impact of temporary store closures because of lockdowns in Australia.

The acquisition is a €6 million deal to buy Navabi, which is an online marketplace which sells hundreds of third-party women’s plus-size brands as well as its own brands that it has developed.

The customer base is predominately from Germany. Its websites had 5.8 million customer visits in 2020, generating €10.4 million of sales revenue. Before the pandemic, Navabi had annual website traffic that exceeded 10 million visits. It has been profitable in 2021, but traffic and revenue have not recovered.

City Chic is expecting trading and profitability to improve from 2022 as it rebuilds its inventory over the next six months.

Bank of Queensland Limited (ASX: BOQ)

The BOQ share price fell 0.3% today after releasing its quarterly capital update for the three months to 31 May 2021.

BOQ’s board has set the common equity tier 1 (CET1) capital target range to be between 9% to 9.5% and the total capital target range to be between 11.75% and 13.5%.

At 31 May 2021, the ASX 200 bank’s CET1 capital ratio was 14.1%, up from 10% at 28 February 2021.

The total capital ratio was 18%, up from 13.8% at 28 February 2021.

BOQ said it raised $1.35 billion by issuing new shares in March 2021 and $250 million through the issue of subordinated debt in April 2021.

The post ASX 200 flat, Lynas soars, City Chic jumps appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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 Kogan.com Ltd (ASX: KGN) share price was one of only a few winners amid the first COVID-19 lockdowns. But now, while half of Australia is locked inside the home perimeters, it’s flopping.

The online retailer’s shares have fallen 15.9% over the last month, despite people in Sydney, Victoria, and South Australia locking down to avoid the Delta strain. Right now, Kogan shares have closed at $10.79, down another 1.9% today.

Let’s take a look at how the Kogan share price moved last time Australia faced large numbers of COVID-19 cases.

Flashback to 2020

Last year, Kogan was spruiked as one of only a few ASX shares to benefit from the global pandemic.

The Kogan share price gained 279% between 20 March 2020 and 10 July 2020 – going from $4.56 to a whopping $17.29. And it didn’t stop there.

The online retailer’s shares reached their highest point ever in late 2020, when they hit $25.57 during intraday trade.

The gains were driven by record sales in March 2020 as many Australians worked, studied, socialised, and, of course, shopped online.

Kogan sales broke more records in April 2020 and it received 126,000 new active customers in May.

The multitude of positive news sent the Kogan share price soaring in 2020, but the same can’t be said for 2021.

What’s up with the Kogan share price now?

The Kogan share price is failing to gain the same traction it enjoyed during lockdowns in 2020.

This was highlighted last Wednesday, when Kogan released a business update.

Much of the update was positive, with Kogan reported earnings before interest, tax, depreciation, and amortisation (EBITDA) of $61.1 million for the 2021 financial year.

However, that figure is just 23.1% higher than Kogan’s EBITDA of the 2020 financial year. While it’s still a gain, it suggests Kogan’s growth is slowing.

Additionally, the company’s inventory issues dug into its profits during the second half of the financial year. Thankfully, the issues have now been solved

Finally, as the Australian Financial Review reported, Kogan is the ASX’s fourth most shorted stock. According to the publication, “most of the reasons investors are shorting were reinforced by Wednesday’s update”.

Kogan share price snapshot

All eyes were on the Kogan share price during 2020 but it now appears the market has lost interest.

Right now, the company’s shares are 44% lower than they were at the start of 2021. They have also fallen 36% since this time last year.

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

The post The Kogan (ASX:KGN) share price was a lockdown winner, so what’s going on now? 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. 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 Piedmont Lithium Inc (ASX: PLL) share price is having another terrible day on the market.

At market close on Monday, shares in the US-based lithium explorer are 68.5 cents each – down 8.05% on their previous closing price.

The catalyst for today’s sell-off seems to be the market reaction to the company’s presentation to residents and commissioners of Gaston County, North Carolina. According to The Charlotte Observer, many residents at the town hall expressed displeasure at the company and its plan to establish an open-pit lithium mine in their community.

Add title

The Piedmont Lithium Inc (ASX: PLL) share price is having another terrible day on the market.

At market close on Monday, shares in the US-based lithium explorer are 68.5 cents each – down 8.05% on their previous closing price.

The catalyst for today’s sell-off seems to be the market reaction to the company’s presentation to residents and commissioners of Gaston County, North Carolina. According to The Charlotte Observer, many residents at the town hall expressed displeasure at the company and its plan to establish an open-pit lithium mine in their community.

Although the presentation was on Wednesday, Australian time, media reports of the meeting did not emerge until the weekend.

The company was forced to make the presentation when reports emerged the county board could reject Piedmont’s application for the mine. Its share price fell 20% on the day before a trading halt was called.

Let’s take a closer look.

“Putting the cart before the horse”

Piedmont Lithium CEO Keith Phillips went to the meeting in Gaston County to, as the company put it, “address misunderstandings in recent media reports regarding Piedmont’s development timeline, permit applications, and commitment to the environment”.

“I was advised a couple of years ago…we shouldn’t waste the commissioners’ time,” Mr Phillips said to the crowd.

County commissioners did not seem impressed.

“No company that I’ve ever dealt with has left, I think, such a bad taste in our citizens’ mouths,” one commissioner said.

“(This is) the biggest case in my 23 years sitting here of putting the cart before that horse,” said another.

According to the Observer, many residents wore red at the meeting in protest at the proposed mine.

“The few gains Piedmont Lithium is promising will not be worth the cost to our county’s quality of life,” one resident is quoted as saying at the meeting.

How important was this mine to the Piedmont Lithium share price?

Initially, the Piedmont Lithium share price partially rebounded on the news of the presentation to the county. However, the market seems to think the presentation was more a fizzer than a lifesaver for the project.

The proposed North Carolina mine is Piedmont’s only 100% owned project. It has minority interest in sites in Quebec, Canada, and Ghana. The company estimates it has the rights to approximately 39.2 million tonnes of lithium at the site.

At current market prices, that equates to an approximate value of US $538 billion. If the county were to reject the mine’s application, it would be an astronomical blow to the company’s revenue prospects.

Although the presentation was on Wednesday, Australian time, media reports of the meeting did not emerge until the weekend.

The company was forced to make the presentation when reports emerged the county board could reject Piedmont’s application for the mine. Its share price fell 20% on the day before a trading halt was called.

Let’s take a closer look.

“Putting the cart before the horse”

Piedmont Lithium CEO Keith Phillips went to the meeting in Gaston County to, as the company put it, “address misunderstandings in recent media reports regarding Piedmont’s development timeline, permit applications, and commitment to the environment”.

“I was advised a couple of years ago…we shouldn’t waste the commissioners’ time,” Mr Phillips said to the crowd.

County commissioners did not seem impressed.

“No company that I’ve ever dealt with has left, I think, such a bad taste in our citizens’ mouths,” one commissioner said.

“(This is) the biggest case in my 23 years sitting here of putting the cart before that horse,” said another.

According to the Observer, many residents wore red at the meeting in protest at the proposed mine.

“The few gains Piedmont Lithium is promising will not be worth the cost to our county’s quality of life,” one resident is quoted as saying at the meeting.

How important was this mine to the Piedmont Lithium share price?

Initially, the Piedmont Lithium share price partially rebounded on the news of the presentation to the county. However, the market seems to think the presentation was more a fizzer than a lifesaver for the project.

The proposed North Carolina mine is Piedmont’s only 100% owned project. It has minority interest in sites in Quebec, Canada, and Ghana. The company estimates it has the rights to approximately 39.2 million tonnes of lithium at the site.

At current market prices, that equates to an approximate value of US $538 billion. If the county were to reject the mine’s application, it would be an astronomical blow to the company’s revenue prospects.

Piedmont Lithium share price snapshot

Despite recent difficulties, the Piedmont Lithium share price is still 590% higher than this time last year.

Piedmont Lithium has a market capitalisation of $1.2 billion.

The post Why the Piedmont Lithium (ASX:PLL) share price is down another 8% appeared first on The Motley Fool Australia.

More reading

• Why BHP, Damstra, Galaxy, & Piedmont Lithium shares are racing higher
• Why the Piedmont Lithium (ASX:PLL) share price is rocketing 15% higher today
• Why Altium, Beach, Domino’s, & Piedmont Lithium are tumbling lower
• Piedmont Lithium (ASX:PLL) share price opens 20% down on Wednesday
• What these 2 best performing ASX shares have in common….and what to expect next

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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The Bitcoin (CRYTPO: BTC) price is rebounding strongly, up 12% over the past 24 hours.

That’s its largest single day gain in 6 weeks. And, sticking with the number 6, this represents 6 consecutive days of gains for Bitcoin, which has come under heavy pressure since hitting all time highs of US$64,829 on 16 April.

One Bitcoin is currently worth US$38,403 (AU$52,607).

With today’s strong rebound factored in, Bitcoin’s year-to-date returns now stand at 31%.

Certainly not bad if you bought on 1 January. Not so good if you bought around mid-April.

This crypto gained 242% more than Bitcoin

Overall, the past 24 hours has been a kind one to crypto investors.

Not only is Bitcoin up 12% but Ethereum (CRYTPO: ETH), the world’s second largest digital token by market cap, is up 8% as well.

In fact, according to data from CoinMarketCap, 96 out of the top 100 cryptos are at least fractionally in the green since this time yesterday.

Leading that pack, is Amp (CRYPTO: AMP).

Currently trading at 7 US cents, Amp has gained 41% over the past 24 hours. Or 242% more than the gain Bitcoin posted.

Although far from a household name, Amp now counts as the 33rd biggest cryptocurrency in virtual circulation, with a market cap of US$2.96 billion.

Launched in September 2020, Amp is a relative newcomer to the market, even by crypto standards. Back in September Amp was trading at just under 1 US cent.

So what the heck is Amp?

According to CoinMarketCap:

Amp is described as the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.

Foolish takeaway

Remember that Bitcoin and other cryptocurrency prices are notoriously volatile. And some investment veterans are forecasting Bitcoin will fall to or below US$15,000.

Amp is up 40% over the past 24 hours. And it’s up just over 600% since September. But it’s down 42% from the 12 US cents it was trading for just last month on 17 June.

Proceed with due caution.

The post Bitcoin’s 12% daily price gain dwarfed by this lesser-known token appeared first on The Motley Fool Australia.

More reading

• Why this investment guru forecasts Bitcoin crashing to US$15,000
• Bitcoin gains after Musk, Wood, and Dorsey spruik the crypto
• Bitcoin crashes below US$30,000 support level…now what?
• The Ethereum price is crashing as this little known token soars
• This top ASX fundie reckons Bitcoin is going to zero

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Ethereum. 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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