Do you have some money to invest into ASX dividend shares? There are some wonderful income ideas out there.

There are businesses that are generating both profit growth and paying good dividends. It can be really difficult to find decent yields with growth.

These two ASX dividend shares might be able to offer that attractive combination:

Accent Group Ltd (ASX: AX1)

Accent is the leading Australian shoe retailer. It sells under a number of different brands including 4WORKERS, Hype, Dr Martens, Platypus, Timberland, VANS and Skechers.

The business is growing its sales in a few different ways. It is opening lots of stores – it’s actually aiming to open 90 new stores in FY21. Accent is also growing its like for like store sales, which is driving organic growth, store like for like sales were up 2.7% in the first half of FY21. Online sales have grown particularly strongly over the last year. In HY21, total digital sales increased by 110% to $108.1 million.

It’s this multi-pronged approach that is driving a significant increase of profit for the ASX dividend share.

Accent is benefiting from the strong retail environment, which is allowing it to expand its profit margins. The HY21 gross profit margin increased 140 basis points to 58.1%. Whilst sales only went up 6.6% to $541.3 million, the earnings before interest and tax (EBIT) grew 47.3% to $81.8 million and net profit after tax (NPAT) surged 57.3%.

Profit growth is a big part of what gives boards the confidence to keep increasing the dividend for shareholders. Accent decided to increase the interim dividend by 52.4% to 8 cents per share.

Accent CEO Daniel Agostinelli said:

With long-term objectives and incentives linked to driving at least 10% compound earnings per share (EPS) growth, Accent continues to be defined by strong conversion and the consistently strong returns it delivers on shareholders’ funds.

In other words, Accent wants to be known for paying good dividends. It currently has a grossed-up dividend yield of 6.3%.

Adairs Ltd (ASX: ADH)

Adairs is one of the largest homewares and furniture retailers in Australia and New Zealand.

It’s seeing similar retail trends as Accent. There has been good profit margin improvement, combined with excellent online sales growth. Adairs has revealed that there was a 124% increase in new online customers in the fourth quarter of FY20, compared to the fourth quarter of FY19. FY21 half-year Adairs online sales surged 95.2%.

But Adairs wants to engage with customers on multiple channels. This can lead to customers making purchases more often and spending more on each purchase than customers who only engage through one channel.

The ASX dividend share said that in FY20, the average active member who only shopped online spent $286 and the average active customer who only shopped in store spent $324. Active customers who shopped both in-store and online spent an average of $413 in-store and $318 online, for a total of $731.

The Adairs FY21 half-year result saw group sales increase 34.8%, underlying EBIT rise 166% and statutory net profit grew 233.4%. That translates to EPS of 25.9 cents. This funded an interim dividend of 13 cents per share.

The current trailing Adairs grossed-up dividend yield is 8.1%.

More reading

• Down 9% today, why the Redbubble (ASX:RBL) share price continues to tumble
• 2 highly rated ASX dividend shares with generous fully franked yields
• Got money to invest? Here are 2 ASX shares to buy
• 2 compelling ASX shares to buy in May 2021
• Is there still upside to the JB Hi-Fi (ASX:JBH) share price?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends ADAIRS FPO. The Motley Fool Australia has recommended ADAIRS FPO and Accent Group. 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 price of the cryptocurrency Ethereum (CRYPTO: ETH) continues to claim headlines. The ‘little sibling’ of Bitcoin (CRYPTO: BTC), Ethereum seems to have picked up the slack from a stagnating Bitcoin price.

While Bitcoin has gone nowhere between February and today (with the usual volatility in between of course), Ethereum has rocketed more than 82% over the same period. In fact, just last night, Ethereum made a new record all-time high of US$4,175 per coin.

But, as is the way of cryptocurrencies, it was not to last. In just the few hours since its new high, the Ethereum price has slid more than 6%, and is going for US$3,894 at the time of writing.

Ethereum rises, then slips

So what’s going on here? The movements of cryptos like Ethereum and Bitcoin can seem like madness and chaos. And we haven’t even mentioned Dogecoin (CRYPTO: DOGE) yet. But perhaps there is at least some method in this madness.

According to eToro’s cryptocurrency analyst Simon Peters, it’s demand from large institutional investors that drove Ethereum’s recent rise:

Demand from institutional investors is fuelling this latest move higher as large-scale buyers diversify their exposure in this emerging asset class, with Ethereum the natural next pick.”

He also cited Ethereum’s lower cost compared to Bitcoin as working in the cryptocurrency’s favour:

This lower dollar value makes Ethereum attractive to investors who want to own whole coins, with the pool of potential investors who could invest $4,000 to buy one ethereum clearly larger than the number of investors who are willing to spend $59,000 to own one Bitcoin.

Peters also points to a recent hard fork of Ethereum, as well as growing numbers of decentralised apps (DApps) as supplementary growth vectors.

Doge days?

Another factor that may be working in Ethereum’s favour is the recent, but dramatic, fall from grace of Dogecoin. The notorious ‘meme coin’, Dogecoin quickly went from a joke over the past few months to be one of the hottest cryptos on the market. That’s what tends to happen when something goes from 7 cents a coin to 70 cents in the space of a month.

But Doge topped out around 72 cents just a few days ago. Since then, Doge has cratered to around 47 cents today, according to CoinDesk.

My Fool colleague Brendon Lau explained why this happened here, but basically, it involves Tesla Inc‘s (NASDAQ: TSLA) Elon Musk and Saturday Night Live (no, I’m not joking). Whilst Doge fell, Ethereum rose to its new highs, so it’s not a stretch to draw a connection there.

More reading

• 3 unstoppable growth trends to invest in today
• 1 simple (and safer) way to invest in cryptocurrency
• Dogecoin price drops by a third after Elon Musk calls it a “hustle” on comedy show
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high
• Ethereum breaks new record highs as Bitcoin slips…which one to buy?

Sebastian Bowen owns shares of Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At the small end of the Australian share market, there are a number of companies with the potential to grow significantly in the future.

Two that investors might want to get better acquainted with are listed below. Here’s what you need to know about them:

Bigtincan Holdings Ltd (ASX: BTH)

The first small cap to watch is Bigtincan. It is a provider of enterprise mobility software to sales and service organisations. This platform allows businesses to increase sales win rates, reduce expenditures, and improve customer satisfaction through improved mobile worker productivity.

Bigtincan has been a positive performer in FY 2021. Management recently advised that is on course achieve the top end of its annualised recurring revenue (ARR) guidance range of $49 million to $53 million this year. This will be a 48% increase on FY 2020’s ARR of $35.8 million.

Morgan Stanley is positive on the company. It currently has an overweight rating and $1.50 price target on its shares. This compares to the latest Bigtincan share price of 82 cents.

Serko Ltd (ASX: SKO)

Another small cap to watch is Serko. It is the online travel booking and expense management provider behind the Zeno Travel corporate travel tool and the Zeno Expense platform.

Given its exposure to travel markets, demand for its offering has fallen heavily during the pandemic. However, with travel markets beginning to recover, Serko has also reported big improvements in its performance. For example, in March it revealed that transaction volumes were averaging 68% of the volumes recorded for the same period in March 2019, which was unaffected by COVID-19.

Looking ahead, a significant deal with travel giant Booking.com could be a game-changer once trading conditions return to normal.

Macquarie is a fan of the company, particularly given its Booking.com deal. It currently has an outperform rating and NZ$7.25 (A$6.72) price target on its shares. This compares to the latest Serko share price of $6.06.

More reading

• Why Beach Energy, Bigtincan, Pointerra, & ResMed are sinking today
• Why the Bigtincan (ASX:BTH) share price is tumbling lower today
• The Tyro Payments (ASX:TYR) share price has gained 30% in 12 months
• 2 exciting small cap ASX shares tipped for big things
• 3 exciting small cap ASX shares for your watchlist

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Serko. The Motley Fool Australia has recommended BIGTINCAN 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 Woolworths Group Ltd (ASX: WOW) share price is one of few  S&P/ASX 200 Index (ASX: XJO) shares in the green today, up 1.09% to close at $40.98. 

Why is the Woolworths share price holding up?

The US market has experienced a defensive rotation into sectors including utilities and consumer stables while technology, communication services and consumer cyclicals are heavily sold down. A similar scenario looks to be playing out on the ASX today, with the S&P/ASX Consumer Staples (INDEXASX: XSJ) up 0.52%, in stark contrast to the S&P/ASX Information Technology (INDEXASX: XIJ) down 4.25%. 

Two announcements have also bolstered the supermarket giant’s shares. A demerger update and news from the Australian Competition and Consumer Commission (ACCC) regarding its proposed acquisition of foodservice supplier, PFD Food Services. 

Bullish broker notes on demerger 

Brokers have provided notes regarding yesterday’s update on Woolworth’s demerger plans with the Endeavour Group to create two independent and ASX-listed companies.

Macquarie noted that Woolworths would maintain an ongoing partnership with Endeavour and retain a 14.6% shareholding. The broker notes that Woolworths will have a positive net cash position of $75 million post demerger, while approximately $1.4 billion to $1.5 billion of net debt will sit with the Endeavour Group business.

With an improved balance sheet, the broker believes Woolworths will explore capital management options and may return up to $1.6 billion to $2.0 billion to shareholders. With that in mind, Macquarie retained an outperform rating with a target price of $44.50. 

Similarly, Morgan Stanley highlighted the plans for potential capital management. Its earnings estimates for the company remain unchanged, retaining its overweight rating with a $44.00 target price. 

Credit Suisse was the only broker note to retain a neutral rating. According to the broker, there weren’t many surprises in the demerger.

Credit Suisse views the potential return of $1.6 billion to $2.0 billion in surplus cash post demerger to be within investor expectations. Post demerger, the broker notes that Woolworths will be debt-free and is proposing capital management with its surplus cash position. A target price of $38.05 was maintained. 

More reading

• Woolworths (ASX:WOW) share price higher on PFD acquisition news
• ASX 200 jumps, A2 Milk sinks, Crown rises
• ASX 200 up 1.1%: A2 Milk crashes, Crown-Star $12bn merger, Woolworths update
• Centuria Industrial (ASX:CIP) share price falls despite lease extension
• Woolworths (ASX:WOW) share price rises on Endeavour demerger update

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) fell by over 1% to 7,097 points. 

Here are some of the highlights from the ASX today:

Afterpay Ltd (ASX: APT)

Many of the ASX’s leading growth names suffered from a selloff today. One of the biggest declines in the ASX 200 was the Afterpay share price which fell by 8.7%.

Other growth peers also suffered. The Zip Co Ltd (ASX: Z1P) share price fell by 9.1%, the Redbubble Ltd (ASX: RBL) share price declined 8.2%, the Pointsbet Holdings Ltd (ASX: PBH) share price dropped by 7.2% and the A2 Milk Company Ltd (ASX: A2M) share price went down by another 6.4%.

Boral Limited (ASX: BLD)

Boral was one of the limited number of ASX 200 shares to go up today, rising by 3.4%.

What caused the gain? You may have seen yesterday that Boral received a takeover approach from Seven Group Holdings Ltd (ASX: SVW).

Today, Boral recommended to shareholders that they reject the takeover offer by taking no action.

The offer was for $6.50 per share, which was a nil premium to the last closing price.

Boral’s leadership noted that there were a number of conditions attached to the offer. The committee of independent Boral directors believe that the offer is opportunistic, undervalues the company and unanimously recommended the offer is rejected.

The ASX 200 share’s management said that the company is committed to the strategic goals including the transformation targets set across the group and the ongoing process in relation to its North American portfolio.

DEXUS Property Group (ASX: DXS)

Dexus sent the APN Property Group Ltd. (ASX: APD) share price rocketing 47.5% higher after launching an all-cash takeover of 91.5 cents per security. That translates to an equity value of $320 million and an enterprise value of $308 million.

APN manages a number of different ASX-listed real estate investment trusts (REITs) as well as unlisted property and securities funds.

As at 31 December 2020, APN had $2.9 billion of funds under management (FUM) and $134 million of co-investments in its managed vehicles.

On completion of this transaction, Dexus will have a funds management portfolio of $23.9 million.

Dexus said that this deal will give access to a complementary and scalable business with a high-quality team and like-minded investment philosophy. It will be immediately accretive to adjusted funds from operations (AFFO) per security after the deal is completed in FY22.

The property business also said that there’s potential to realise cost and revenue synergies and achieve margin expansion across the platform.

Dexus CEO Darren Steinberg said:

This transaction supports our strategic initiative of expanding and diversifying our funds management business, increasing our suite of funds on offer outside of wholesale funds into listed REITs, real estate securities funds and unlisted direct property funds. The transaction also expands out investor network to include retail and high net worth capital.

More reading

• What to expect from the Budget, and a record close for the ASX 200: Motley Fool CIO Scott Phillips on Sky News
• Why a2 Milk, Afterpay, Nearmap, & REA Group shares are sinking
• ASX shares that will benefit from the upcoming index changes
• Leading brokers name 3 ASX shares to sell today
• Flight Centre and Zip were among the most traded ASX shares last week

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Afterpay and Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Peter Stefanovic on Sky News First Edition this morning for the key economic news of the day: This evening’s federal budget, and yesterday’s record close for the ASX 200.

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More reading

• ASX shares that will benefit from the upcoming index changes
• ASX 200 shares hit all-time high! How did we get here?
• This little ASX telco’s picking customers off the big boys: fundie
• ASX 200 down 0.9%: Boral rejects takeover offer, Afterpay & PointsBet sink
• Boral (ASX:BLD) share price in focus as it rejects Seven Group (ASX:SVW) takeover bid

Motley Fool contributor Scott Phillips 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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Earlier today the Suncorp Group Ltd (ASX: SUN) share price briefly touched on a 52-week high of $11.18 before market weakness dragged it lower.

When the insurance and banking giant’s shares hit that level, it meant they were up a sizeable 12% since the start of the year.

Can the Suncorp share price keep on climbing?

Despite the strong form of the Suncorp share price in 2021, one leading broker believes it still has plenty of gas in the tank.

According to a note out of Goldman Sachs this morning, its analysts have retained their buy rating and $12.05 price target on the company’s shares.

Based on the current Suncorp share price of $10.98, this price target implies potential upside of approximately 10% over the next 12 months.

And if you include the 5.4% fully franked dividend yield the broker is forecasting over the next 12 months, this potential return stretches beyond 15%.

What did Goldman say?

Goldman Sachs has responded to the release of Suncorp’s general insurance investor day update this morning.

It commented: “A very brief 3Q21 update suggests improved rate/volume trends in Australian personal lines have carried from 1H21 into 3Q21, reinvigorated broker originations have supported a return to growth in the bank from February, digital interactions have continued to increase (1H21 home/motor digital sales +10%) and SUN has strong reinsurance cover for the remainder of the year (we estimate SUN is on the cusp of its FY21 aggregate cover).”

The broker notes that Suncorp’s insurance business and efficiency targets remain the same, which bodes well for the future.

Goldman explained: “SUN’s three year targets for the insurance business remain unchanged, calibrated to a GI underlying margin of 10-12% by FY23 (GSe 10.0%), while efficiency targets also remain unchanged, where SUN is targeting a group cost base of A$2.8bn over FY21/FY22, before reverting to A$2.7bn in FY23. SUN has however provided more colour around the drivers of margin expansion plus source of cost savings to FY23.”

Overall, the broker was pleased with the update and believes its investment thesis remains intact.

It concluded: “On balance, our first take of material released this morning suggests no immediate risks to our FY21 estimates. In FY23 we forecast an underlying margin of 10.0%, where we appear to be slightly ahead of VA consensus at 9.7%. A shift to the mid-point of SUN’s margin target would represent around 6% upside to our cash EPS, and on balance with claims management optimisation the most meaningful driver of SUN’s expected margin trajectory, we expect any outer year upside to consensus margin expectations today will be dependent on how convincing, clear and tangible SUN frames opportunities in this morning’s presentation. Maintain Buy.”

More reading

• 7 ASX 200 shares with emission reduction strategies
• Suncorp (ASX:SUN) share price on watch after news its ditching super
• History is on the side of the battered AMP (ASX:AMP) share price as it plans its demerger
• Why the Suncorp (ASX:SUN) share price is on watch
• Credit Clear (ASX:CCR) share price jumps 10% on Q3 update and Suncorp contract win

Motley Fool contributor James Mickleboro 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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Although the Australian share market has climbed to a new high this week, not all shares are performing as positively.

Two ASX shares that are trading significantly lower than their 52-week highs are listed below. Here’s why now could be a good time to invest:

Bravura Solutions Ltd (ASX: BVS)

The Bravura share price has underperformed over the last 12 months. It is down a disappointing 39% from its 52-week high.

The provider of software products and services to the wealth management and funds administration industries has had a difficult time over the last two years. This has been driven by Brexit and COVID-19 uncertainty.

The good news, though, is that trading conditions appear to be improving. For example, last week the company was able to reaffirm its guidance for FY 2021 net profit after tax of $32 million to $35 million and second half revenue growth of 10% half on half.

This went down well with Goldman Sachs. In response to its update, the broker retained its buy rating and lifted its price target on the company’s shares to $3.90.

Goldman Sachs believes the opportunity for Bravura remains compelling in the UK and Australia. It also expects its emerging microservices ecosystem strategy to transform the business to a subscription-based model and drive growth.

Kogan.com Ltd (ASX: KGN)

This ecommerce company’s shares have also fallen heavily from their highs. The Kogan share price is down 60% from its 52-week high.

Investors have been selling Kogan’s shares due to concerns over its valuation and outlook. In respect to the latter, the company’s recent trading update revealed a sharp slowdown in its revenue growth and a reversal in its profit growth. This was driven by COVID-19 tailwinds easing and inventory issues.

However, this could be a buying opportunity for long-term focused investors. Credit Suisse recently retained its outperform rating and trimmed its price target to $17.93.

The broker believes the issues it is facing are only temporary and remains positive on its long term growth potential. And with Credit Suisse forecasting earnings per share of 46.4 cents in FY 2022, Kogan’s shares are changing hands for a respectable 22x FY 2022 earnings now.

More reading

• Down 9% today, why the Redbubble (ASX:RBL) share price continues to tumble
• These are the 10 most shorted shares on the ASX
• 3 quality mid cap ASX shares rated as buys
• Are there buying opportunities among ASX COVID fallen stars?
• Broker tips Bravura (ASX:BVS) share price to storm 20% higher

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd and Kogan.com ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd and 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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Vitalharvest Freehold Trust (ASX: VTH) shares were on the rise today. By the market’s close, the Vitalharvest share price was trading 2.38% higher at $1.29. This came after the company announced it has accepted the latest buyout offer from Macquarie Group Ltd (ASX: MQG) subsidiary Macquarie Agricultural Funds Management. 

Vitalharvest is an investment trust. The company’s objective is to provide unitholders with exposure to real agricultural property assets with earnings profiles exposed to the growing global demand for nutritious, healthy food.

Takeover background

Macquarie Agricultural Funds Management (MAFM) has been in a tug-of-war over Vitalharvest shares with private equity firm Roc since earlier this year. 

The tussle has now reached its eighth offer, with Vitalharvest accepting Macquarie’s revised offer of $1.28 per Vitalharvest share. It’s still possible, however, that Roc may submit yet another offer, further impacting the Vitalharvest share price.

For what it’s worth, the Vitalharvest board has once again determined that it is in the best interests of its shareholders to accept the Macquarie proposal. Vitalharvest has already agreed to amend the scheme implementation deed – the original of which is now more than a month old – to reflect the terms of the eighth Macquarie proposal.

Other than price, this latest deal is on substantially the same terms as the existing scheme implementation. 

Vitalharvest wants to wrap this up

While some long-term investors may be enjoying this unfolding story, and the rising Vitalharvest share price, the company appears to be anxious to end the stalemate, according to its release:

Consistent with maximising unitholder value and unitholders receiving any consideration on a timely basis, Vitalharvest is seeking to bring this process to a conclusion as quickly as possible in the best interests of unitholders and is conscious that any further meeting deferrals could cause implementation to be delayed past the end of the financial year.

Vitalharvest will update unitholders on the new meeting date which Vitalharvest is looking to hold as soon as possible and is anticipated to be held by early June. Vitalharvest will provide a revised date for the meeting and any further supplementary disclosure as soon as possible.

Vitalharvest share price snapshot

The Vitalharvest share price has been riding the wave of increasing takeover offers this past month, rising by almost 8%. More broadly, the company’s share price has risen by around 75% over the past 12 months. 

Based on its current valuation, the company has a market capitalisation of around $233 million.

More reading

• Leading brokers name 3 ASX shares to sell today
• ASX 200 down 0.9%: Boral rejects takeover offer, Afterpay & PointsBet sink
• 2 impressive ASX shares to buy in May 2021
• Is the Macquarie (ASX:MQG) share price in the buy zone after its FY21 results?
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Podium Minerals Ltd (ASX: POD) share price is wobbly today after the company revealed two new drilling targets at Parks Reef Deeps.

It’s been a bumpy ride for Podium shares today after gaining more than 16% yesterday. In late afternoon trade, the Podium share price has plunged from trading 6% higher at 53 cents to land right back where it started at 50 cents apiece. 

Podium is an exploration and resources development company focused on platinum group metals, gold, and nickel-copper sulphides. The company’s project profile includes its Parks Reef project in Western Australia, the WRC nickel and copper sulphide project, and various others.

Podium gets government backing

Podium has secured permission and funding from the West Australian government’s infrastructure and exploration fund to drill two diamond drilling holes in Parks Reef, part of the Murchison pastoral land in rural WA. 

Under the deal, the state government will pay 50% of the drilling costs (around $150,000) in boring the two 750m deep holes. This will allow Podium to test potential mineral deposits in Parks that run down more than 500 metres beneath the surface.

The company noted that recent successful drilling programs have identified “high-grade zones” hosting platinum, palladium and rhodium and iridium.

The Podium share price rocketed at the beginning of last week after the company revealed high-grade rhodium and iridium was intersected in Park. Podium’s next two holes will dive twice as deep, and a third hole is planned further outside of the area.

Management comments

Podium executive chair Clayton Dodd noted the government’s support, saying:

The company would like to express its gratitude to the State Government… for selecting Podium as a suitable applicant and for the financial assistance to drill an exciting new dimension to the Parks Reef PGM project.

By successfully intersecting the reef at such depths would clearly demonstrate the vast dimensions of the mineralised horizon and any variability in PGM grades and may provide invaluable vectors toward higher grade sectors along the extensive 15km PGM strike length of the reef.

Podium share price snapshot

The Podium share price has been a big performer of late, rising more than 35 cents in the past 6 weeks, a quadrupling in value. The Podium share price has risen 2,375% in the past 12 months.

More reading

• Why the Podium Minerals (ASX:POD) share price soared 27% today

Motley Fool contributor Lucas Radbourne-Pugh 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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