• A2 Milk and EML were among the most traded ASX shares last week

    millennials hanging out with each other on their gadgets

    Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

    Here’s the data:

    EML Payments Ltd (ASX: EML)

    This payments company’s shares were the most traded on CommSec last week, accounting for 2.1% of total trades. And despite the EML share price losing 35% of its value, approximately two-thirds of the volume came from buyers. They may have swooped in after the company’s shares crashed lower amid concerns over Anti-Money Laundering and Counter-Terrorism Financing compliance for its European business.

    Zip Co Ltd (ASX: Z1P)

    This ever-popular buy now pay later provider’s shares were heavily traded last week and were attributable to 2% of trades on the platform. Just over half of the volume came from the buy side, which helped drive the Zip share price 3.1% higher for the week.

    Betashares Nasdaq 100 ETF (ASX: NDQ)

    Once gain, the Betashares Nasdaq 100 ETF was popular with investors and attributable to 1.7% of trades on CommSec. A total of 81% of the volume came from buyers, who will have been pleased to see the ETF gain 2.1% over the five days. A rebound in tech stocks helped to drive the famous Nasdaq 100 index higher last week.

    Afterpay Ltd (ASX: APT)

    This payments company’s shares were responsible for 1.5% of trades on the platform, with just over half coming from buyers. Despite the broadly even split, the Afterpay share price jumped almost 8% last week. A broker upgrade by Macquarie appears to have been the catalyst for this strong gain.

    A2 Milk Company Ltd (ASX: A2M)

    This infant formula company’s shares finally found favour with investors last week, with 1.5% of trades on CommSec involving the former market darling. Just under two-thirds of the volume was attributable to buyers, which helped to snap the company’s four-week losing streak with a modest gain.

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  • Why has the Variscan (ASX:VAR) share price gained 91% today?

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    Shares in Variscan Mines Ltd (ASX: VAR) are on fire today as the market reacts to news of discoveries at the company’s San Jose Mine. At the time of writing, the resource company’s share price has rocketed 91.89%, trading for 7.1 cents.

    The San Jose mine is located within Variscan’s Spanish Novales-Udias Project. There, drilling has brought new zinc-rich mineralisation to light.

    Let’s take a closer look at the news driving the Variscan share price today.

    Positive assay results

    According to Variscan, the new discoveries include high-grade zinc and lead lenses at San Jose. Furthermore, assay results from central mineralisation include:

    •  16.9 metres at 12.5% zinc and 2.0% lead.
    •  15.6 metres at 3.2% zinc and 0.3% lead.

    More drilling at a southward extent is now finished, with the results received so far showing visual zinc mineralisation in the majority of holes.

    The results from a further 20 drillholes are expected to be received by Variscan shortly. Variscan stated it’s also focused on mapping and sampling at its other Spainish project, Guajaraz.

    Commentary from management

    Variscan’s managing director and CEO Stewart Dickson commented on the findings, saying:

    The discovery of new high-grade mineralised lenses below the main gallery is a major development for Variscan. It suggests significant potential for discovering additional lenses throughout the San Jose Mine… that could provide considerable scale and tonnage potential. Additionally, it reinforces the conceptual model of San Jose as a multi-layered orebody, consisting of multiple vertically stacked, sub-horizontal high-grade mineralised lenses of variable thickness and geometry, separated by intervals of dolostone…

    We will be following up these excellent drill results with further assays from drilling over the southward extent of the lower lens below the La Caseta Trend promptly.

    Variscan Mines share price snapshot

    If the Variscan share prices’ gains hold until close today, it will be its highest closing price since 2018.

    Presently, the Variscan share price is up 163% year to date. It’s also gained 295% since this time last year.

    The resource company has a market capitalisation of around $7 million, with approximately 212 million shares outstanding.

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  • Is the ANZ (ASX:ANZ) share price a buy for June 2021?

    close up of 4 digits on bank card with electronic chip

    Is the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price worth looking at with June 2021 in mind?

    It wasn’t too long ago that the big four ASX bank released its FY21 half-year result to the market.

    Was the HY21 report solid?

    In the first half of FY21, ANZ reported that its statutory net profit after tax (NPAT) of $2.94 billion was 45% higher compared to the second half of FY20.

    Continuing operations cash profit was up 28% to $2.99 billion. However, continuing cash profit before credit impairments and tax was down 10% to $3.94 billion.

    ANZ explained that the headline profit figures were materially up because the total provision in the first half was a net release of $491 million.

    Despite the ongoing uncertainty, the credit provision release was a result of the improving economic outlook over the course of the half, as well as some loan volume reductions. Home loan and small business customers have behaved prudently by building savings buffers through the half, according to ANZ.

    That net release of $491 million was comprised of a collective provision release of $678 million, combined with an individually assessed provision charge of $187 million. The big bank explained that the low individually assessed provision reflected the continued impact of government and bank support packages through COVID-19, as well as its long-term strategy and disciplined focus on customer selection in ‘institutional’.

    At 31 March 2021, the collective provision balance was around $4.3 billion, representing additional reserves of $909 million compared with pre-COVID levels at 30 September 2019.

    Despite a volatile environment with significant demand from customers, the bank was able to reduce the cost of operations thanks to streamlining and automation, while processing record volumes.

    At the time of the ANZ result, the CEO Shayne Elliot said:

    ANZ is in a strong position both financially and operationally. We are well capitalised and our disciplined approach to costs over many years has us well placed to invest in opportunities to grow our business in targeted segments. The work to digitise core processes and platforms continues at pace and this will be more visible to customers towards the end of the year.

    Is the ANZ share price an attractive opportunity?

    One of the latest brokers to have their say is Macquarie Group Ltd (ASX: MQG). It pointed out that core earnings, excluding the provisions, continues to decline. The broker believes that banks are looking at costs so much because growing revenue is hard.

    For Macquarie, its target for the ANZ share price over the next 12 months is $30.50, which suggests a possible capital return of just under 10%.

    However, the broker is expecting that the ANZ dividend will recover to $1.40 per share in FY21. That translates to a grossed-up dividend yield of 7%.

    At the current ANZ share price, Macquarie thinks the bank is valued at around 15x FY21’s estimated earnings.

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  • Why the Imugene (ASX:IMU) share price is up 13% to a record high

    A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

    The Imugene Limited (ASX: IMU) share price has continued its positive run on Tuesday.

    At the time of writing, the immuno-oncology company’s shares are up over 13% to an all-time high of 46 cents.

    This latest gain means the Imugene share price is now up 360% since the start of the year.

    Why is the Imugene share price charging higher?

    There have been a number of catalysts in recent months that have boosted the Imugene share price. They have been covered here recently.

    Whereas today’s gain by the Imugene share price appears to have been driven by the release of an announcement which reveals that both its Executive Chairman and its Managing Director and CEO have increased their holdings in the company.

    According to the release, Executive Chairman, Paul Hopper has exercised 25 million options and Managing Director and CEO, Leslie Chong has exercised 36.2 million options. The latter also has a further 13.8 million options that are expected to be exercised in the near future.

    Insider buying often gives share prices a boost. After all, directors wouldn’t be investing their hard-earned money if they weren’t confident in the direction the company was going.

    However, it is worth noting that this is very different to regular inside buying.

    Mr Hopper paid a total of $1,070,000 to exercise his 25 million options, which equates to an exercise price of 4.28 cents per share. Whereas Ms Chong paid $1,517,000 to exercise her 36.2 million options, which equates to an exercise price of 4.2 cents per share.

    With the Imugene share price closing the day at 41 cents on Monday, the two executives were already significantly in the money with these options.

    In fact, Mr Hopper’s 25 million shares now have a market value of $11.5 million and Ms Chong’s 36.2 million shares have a market value of $16.65 million. That’s a paper profit of ~$10.4 million and ~$15 million, respectively.

    The key test will be how long they hold onto these shares. If they plan to hold onto these shares for the long term, then that certainly will be a good sign for shareholders. But if they offload them for a quick profit, then all they’ve really done is dilute shareholders.

    Time will tell, but there’s no doubt shareholders will be watching closely.

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  • The Telix (ASX:TLX) share price has rocketed 12% today. Here’s why.

    surging asx share price represented by piggy bank with rocket attached to it

    The Telix Pharmaceuticals Ltd (ASX: TLX) share price is rocketing higher, nearing on its all-time high of $4.80.

    This follows the biotechnology company’s update on its bone marrow conditioning investigational candidate, TLX66.

    At the time of writing, Telix shares are selling for $4.48 apiece, up 12%.

    What did Telix announce?

    Investors are pushing Telix shares higher after investors digest the company’s latest study results from TLX66.

    In its announcement, Telix advised TLX66 has met study objectives in patients with Systemic Amyloid Light Chain Amyloidosis (AL amyloidosis).

    The Targeted Radiotherapy for AL Amyloidosis (TRALA) trial is a phase I/2a study currently being conducted by Telix. The program aims to evaluate the safety and toxicity of TLX66 as the sole bone marrow conditioning agent. This is before patients with AL amyloidosis go through an autologous hematopoietic stem cell transplantation (HSCT).

    A HSCT is a procedure where a patient’s healthy stem cells are collected from blood or bone marrow before treatment. The stem cells are then safely stored and given back to the patient after treatment.

    In total, 9 patients with AL amyloidosis were enrolled into the program and received TLX66 before undergoing autologous HSCT. The result demonstrated a favourable safety profile and was well tolerated within each study recruit. Pleasingly, the entire group was successfully engrafted following bone marrow conditioning with TLX66 and autologous HSCT without any chemotherapy.

    Disease response, as measured by fall in clonal free light chains (FLC), was seen in 7 of the patients. Of those, two were complete responses (CR) and were five partial responses (PR) within the first 100 days after transplant.

    In addition, malignant plasma cells in the bone marrow reduced in 6 of the 8 evaluable patients.

    The TRALA trial was sponsored by the University Hospital Southampton in Southampton, United Kingdom. The study ran across 4 different sites and the data was reviewed by the trial’s Independent Data Monitoring Committee (IDMC).

    Words from management

    Consultant Haematologist at University Hospital Southampton and TRALA principal investigator, Dr Kim Orchard commented:

    Compared to the significant toxicity profile typically experienced with conventional chemotherapy-based regimens, molecularly targeted radiation with Y-besilesomab demonstrated a very benign toxicity profile, which may in turn enable a considerably greater proportion of patients with AL amyloidosis to undergo life prolonging stem cell transplantation. The very low toxicity but with demonstrable responses is very encouraging.

    Telix chief medical officer, Dr Colin Hayward added:

    The results from the TRALA trial indicate that TLX66 may offer a new approach to bone marrow conditioning in patients who could benefit from HSCT such as those with AL amyloidosis, providing new hope to patients with this rare disease and with few effective treatment options.

    TLX66 was well-tolerated, enabling successful engraftment of the patients’ own transplanted stem cells without the need for toxic chemotherapy. With all patients remaining alive, and most not requiring further therapy, we believe these data support taking TLX66 forward into a pivotal registration program in this rare disease indication.

    Telix share price summary

    It’s been a positive year for Telix shareholders, with the company share price rising over 200% in the past 12 months. While most of the gains occurred late last year, year-to-date performance sits around 15% higher.

    On valuation grounds, Telix presides a market capitalisation of roughly $1.2 billion, with 281 million shares outstanding.

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  • Here’s why the Betmakers (ASX:BET) share price just hit a 52-week high

    Horse race winner

    The Betmakers Technology Group Ltd (ASX: BET) share price has had a good start to the trading day today.

    Betmakers shares hit a new 52-week high this morning, and at the time of writing are up 3.72% to $1.54 a share.

    This latest share price move puts Betmakers up 22% over the past month, 119% year to date, 156% over the past 6 months, and 338% over the past year.

    It also means the Betmakers share price is up 812% in 5 years, and more than 5,000% since its all-time low of 3 cents back in 2019. 

    What’s behind the company’s new high?

    Well, it appears to be the result of some good old-fashioned rumours circulating around the ASX boards today.

    These rumours involve fellow gaming company Tabcorp Holdings Limited (ASX: TAH).

    As my Fool colleague Brendon Lau reported this morning, there is speculation that Betmakers may be close to making a merger proposal with Tabcorp. 

    Tabcorp is a gaming company worth about $11.32 billion. In contrast, Betmakers currently has a market capitalisation of $1.26 billion.

    As my Fool colleague divulged this morning, speculation surrounds Matthew Tripp of Betmakers working with investment bank Goldman Sachs to engineer a potential merger.

    According to a report in The Australian, this merger could potentially unlock as much as $5 billion in value for shareholders.

    They will have to fight for it though. Tabcorp is no stranger to merger proposals. Apollo Global Management and Entain (owner of Ladbrokes) have reportedly approached Tabcorp for a deal as well.

    We might have to wait for an update on 30 June from Tabcorp to see how this will play out. 

    About the Tabcorp share price

    In contrast to Betmakers, the Tabcorp share price has not been an overly lucrative performer in recent years.

    Although Tabcorp shares are up 1.5% today to $5.08 a share, the company is still a long way from the $8 a share levels investors saw way back in mid-2007.

    Indeed, you could have picked up Tabcorp shares for the same price as they are going for today back in 2015. In other words, this company has been stuck in the mud, share-price wise, for a while now. 

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  • Why have these ASX potash shares been crashing this week?

    Man in mining or construction uniform sits on the floor with worried look on face

    Shares in Australian Potash Ltd (ASX: APC) and Salt Lake Potash Ltd (ASX: SO4) have fallen heavily in the past week after the companies announced respective capital raisings.

    Australian Potash has fallen 11.43% this week and is currently trading at 15 cents after the company announced a $10 million capital raise from investors. Meanwhile, Salt Lake Potash is down 8.75% this week trading at 36.5 cents as the company announced plans to raise $28 million.

    About the potash industry

    Potash is a naturally occurring substance containing large amounts of potassium that is utilised in making fertilisers. The potash these companies mine is predominantly used to manufacture sulphate of potash (SOP.)

    Potassium sulphate is the second major form of potash and is seen as superior over the more abundant potassium chloride (known as MOP). Primarily, this is due to the toxic impact chloride has on many food plants and as such SOP demands up to a 40% premium.

    According to a report in the Australian Financial Review recently, the potash industry is slowly coming back to life as money is being pumped into the sector thanks to the potential of SOP. Thus, the race is on between a number of small-cap potash producers to be the first to turn out SOP in Australia.

    Other ASX-listed potash players include Kalium Lakes Ltd (ASX: KLL), Agrimin Ltd (ASX: AMN) and BHP Group Ltd (ASX: BHP). BHP said recently that potash was one of four projects under development this year.

    Salt Lake Potash winning the race

    This week, Salt Lake Potash announced it had completed an institutional placement to enable a final debt drawdown. The $28 million raised at 35 cents a share also enabled access to additional funding through a bank guarantee provided by Sequoia. However, the news has not stopped the Salt Lake Potash share price from plummeting as the company also provided a Lake Way update.

    According to the company, the project is on schedule for production in June 2021 with the first sales coming shortly after. As such, plant commissioning is more than 50% complete. However, the capital budget for the works has now increased by $5 million to $269 million in order to de-risk the salt production.

    Nonetheless, the company still looks like it will be the first Australian company to both produce and sell SOP across the world.

    Australian Potash equity raising

    The Australian Potash share price has also fallen significantly this week as the company announced a $10 million capital raise for institutional and sophisticated investors.

    The funds similarly to above will be used to progress its Lake Wells SOP project. There are several pre-development activities including building the Lake Wells village.

    Australian Potash managing director and CEO Matt Shackleton said:

    The heavy institutional and sophisticated investor demand for the offer reflects well on the Lake Wells SOP Project’s very robust financial metrics, and supports our transition into development. The LSOP (Lake Wells Sulphate of Potash) still carries the largest 100% measured JORC compliant SOP resource across the space, which speaks to the technically de-risked nature of the development.

    In addition to the LSOP, we look forward to unlocking the inherent value in the Laverton Downs nickel sulphide targets with a maiden diamond program scheduled to commence in May.

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  • Why the Element 25 (ASX:E25) share price is rising today

    Three different hands against a blue backdrop signal thumbs up, indicating share price rise on the ASX market

    The Element 25 Ltd (ASX: E25) share price is firmly in positive territory today. This comes after the company announced that it has finalised an agreement in preparation for its first manganese concentrate shipment.

    During early afternoon trade, the mineral exploration and mining company’s share price is fetching for $2.24, up 2.75%. In comparison, the All Ordinaries Index (ASX: XAO) is also travelling higher at 7,318 points, up 0.6%.

    Details of the Element 25 update

    Investors are pushing Element 25 shares higher after the company achieved an important milestone for its future operations.

    According to its release, Element 25 advised it has executed a Multi User Access Agreement with the Pilbara Port Authority. Therefore, the company will be allowed to use the Port Hedland Utah Point facility to export in bulk its manganese product. A crucial ingredient for electric vehicle batteries, the mineral will come from Element 25’s wholly-owned production facility at the Butcherbird Project.

    Furthermore, the Utah Point facility is considered to be well equipped to handle multi-user bulk and loading operations.

    Element 25 did not disclose the commercial terms of the agreement but stated that they are in line with normal operating terms. This also includes covering the company’s capacity requirement of up to 390 kilotons per annum for its first stage of operations.

    E25 managing director, Mr Justin Brown commented:

    This is another important milestone on the way to our first sale of manganese concentrate, and we are excited to be closing in on our first shipment of Butcherbird’s material to our offtake partners.

    About the Butcherbird Manganese Project

    The Butcherbird manganese project is an open-pit mining development located in the Pilbara region of Western Australia. The project is believed to contain the largest onshore manganese resource in the country.

    A pre-feasibility study was completed in May 2020, and highlighted significant growth beyond the initial Stage 1 production volumes. Current JORC estimates put the project to produce 263 million tonnes of manganese ore.

    Element 25 share price review

    Over the past 12 months, Element 25 shares have accelerated to more than 500%, with year-to-date performance above 50%. The company’s share price reached an all-time high of $2.90 in late March before investors took profit off the table.

    Based on today’s price, Element 25 presides a market capitalisation of roughly $339 million, with 148 million shares on issue.

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  • Why Airtasker, Betmakers, Kogan, & Telix shares are charging higher

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. At the time of writing, the benchmark index is up 0.5% to 7,082.4 points.

    Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

    Airtasker Ltd (ASX: ART)

    The Airtasker share price has returned from its trading halt and jumped 12% to $1.21. This morning the online marketplace for local services announced the successful completion of a private placement to raise $20.7 million. These funds will be used partly to expand into the US market through the acquisition of US-based local services marketplace Zaarly. Some of the proceeds will support its UK expansion as well.

    Betmakers Technology Group Ltd (ASX: BET)

    The Betmakers share price has risen 4% to $1.54. This has been driven by speculation that the betting technology company is planning a major acquisition. The Australian is reporting that Betmakers is interested in acquiring Tabcorp Holdings Limited (ASX: TAH). The transaction could unlock $5 billion in value for shareholders in the combined entity according to the report. 

    Kogan.com Ltd (ASX: KGN)

    The Kogan share price has continued its rebound and is up a further 6% to $10.55. Investors have been snapping up the ecommerce company’s shares following another sizeable decline last week after the release of a disappointing trading update. The Kogan share price is now up over 20% from the 52-week low it set on Friday.

    Telix Pharmaceuticals Ltd (ASX: TLX)

    The Telix share price has jumped 10% to $4.41. The catalyst for this was the release of an update on its bone marrow conditioning investigational candidate TLX66. According to the release, TLX66 has met study objectives, demonstrating the initial safety profile in patients with Systemic Amyloid Light Chain Amyloidosis.

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  • Why the Audio Pixels (ASX:AKP) share price jumped 7% this morning

    Woman with speaker

    The Audio Pixels Holdings Ltd (ASX: AKP) share price is on the move today.

    Audio Pixels shares have edged 0.04% at the time of writing to $23.70 per share. That’s after closing at $23.69 per share yesterday and opening at $24.40 this morning.

    It was a lot better for Audio Pixels earlier this morning as well. Soon after open, this company got all the way up to $25.35 a share. At the time, that was a gain of more than 7%.

    These latest moves in the Audio Pixels share price might come as a relief for investors, who had to watch the shares fall more than 35% between 30 March and 17 May.

    A quarterly update the company put out at the end of April did not restore investors’ confidence. Audio Pixels flagged semiconductor supply chain squeezes and packaging issues that were taking a toll on its business.

    Investors weren’t impressed at the time, and sent Audio Pixels shares down 10% on the news.

    So what’s going right today?

    Today’s share price moves can be put down to a presentation the company has released today that was shown as part of its annual general meeting.

    In this meeting, Audio Pixels reiterated that it is facing global supply chain and packaging issues.

    However, it also announced that its new high-voltage ASIC speaker chip is set to begin production in the fourth quarter of 2021.

    In addition, the company told investors its production time for manufacturing/fabrication of wafer chips has fallen to record lows.

    Back in 2013, it took Audio Pixels 52 weeks to make a wafer chip. By 2020, this had fallen to 10 weeks. It now estimates by the fourth quarter of 2021, it will be at 6 weeks.

    About the Audio Pixels share price

    Audio Pixels is a company dedicated to manufacturing high-quality speaker technology for small applications, such as smartphone speakers.

    The company has had a bumpy ride, share-price wise, since its listing in 2004. Although Audio Pixels shares are up close to 5,000% since then, the company has yet to reclaim the share-price highs we saw back in 2017, when the company reached close to $33 per share.

    On the company’s current share price, Audio Pixels has a market capitalisation of $700.5 million.

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