Antipa Minerals Ltd (ASX: AZY) shares are on the move this morning following news of a significant expansion of the company’s exploration program. At the time of writing, the Antipa share price has jumped 7.29% to 5.15 cents.

The mining company, along with its joint venture (JV) partner Rio Tinto Limited (ASX: RIO), has more than doubled the exploration budget of the Citadel JV project.

Additionally, Rio Tinto has met funding targets, allowing it to increase its holding in the project.

Let’s take a closer look at this morning’s news from Antipa.

What’s driving the Antipa share price?

The Antipa share price is surging higher after the company announced this morning its Citadel JV project’s exploration program has been significantly expanded. The program’s budget has grown from $13.8 million to $25.5 million.

The additional funds will be used to drill another 6,000 to 7,000 metres, targeting gold, copper and silver deposits.

Drilling with a diamond drill rig is currently underway at Citadel, with a second diamond drill rig arriving this month.

A gradient array induced polarisation (GAIP) geophysical survey is expected to commence this month.

Changing interests in Citadel JV project

Rio Tinto has now contributed over $25 million to the project, meeting the expenditure requirement to increase its holdings in Citadel. Rio Tinto now holds a 65% interest in the project.

Antipas’ interests in Citadel have, in turn, decreased to 35%.

Antipa now has 30 business days to decide whether to continue its contributions to the JV.

If Antipa elects not to contribute, Rio Tinto may choose to solely fund the project, contributing another $35 million over the next three years. In exchange for doing so, its stake in the project would increase to 75%.

If Rio Tinto chooses not to solely fund the project, Antipa and Rio will continue to contribute to the JV in proportion to their current interests.

Commentary from management

Antipa managing director Roger Mason commented on the expanded exploration program, saying:

The recent increase in the Citadel JV’s 2021 budget is a testament to the joint venture’s strong belief in the potential of this project. The 2021 programme will be the largest yet and we look forward to continuing to advance the high potential Calibre and Magnum resources as well as test numerous greenfield targets.

Antipa share price snapshot

The Antipa Minerals share price has been rocketing recently. Over the course of last week, it rose 60% following news of high-grade mineral discoveries at its 100% owned Minayari and WACA mines.

Currently, the Antipa Minerals share price is up nearly 29% year to date. It’s also up more than 157% over the last 12 months.

The company has a market capitalisation of around $120 million, with 2.5 billion shares outstanding.

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Motley Fool contributor Brooke Cooper 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 Fatfish Group Ltd (ASX: FFG) share price has started the week in a positive fashion.

In morning trade, the tech venture company’s shares are up over 12% to 13.5 cents.

Why is the Fatfish share price rising?

The Fatfish share price was given a boost this morning from the release of an acquisition announcement.

According to the release, the company has entered into a binding agreement to acquire a strategic 85% stake in Malaysia-incorporated Forever Pay. It is a licensed corporate entity that holds a money lending license awarded by the Malaysian government.

Following the acquisition, Fatfish intends to enter into the retail buy now pay later (BNPL) and other consumer-oriented digital financing markets via Forever Pay. It also plans to develop potential synergies and collaboration with its existing BNPL business, Smartfunding.

Management notes that acquiring Forever Pay will allow Fatfish to further position the company as a comprehensive BNPL player in the Southeast Asia region.

What is Forever Pay?

The release notes that Forever Pay was incorporated seven months ago in September 2020 and has been awarded a Money Lending License by the Ministry of Housing And Local Government of Malaysia.

This Lending License allows financing operations for consumers and corporates to be conducted, including retail BNPL services.

Fatfish will acquire its 85% stake in Forever Pay for a total purchase consideration of A$870,000.

From this, A$450,000 of the consideration will be paid in cash, while the remaining A$420,000 will be paid via the issue of 3 million Fatfish shares. The cash portion of the consideration will be paid over a duration of 12 months from existing reserves.

The company notes that the current shareholder of Forever Pay is VNP Technology and is not related to Fatfish or its directors.

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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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The ResApp Health Ltd (ASX: RAP) share price has returned from its trading halt and sunk lower.

At the time of writing, the digital health company’s shares are down 9% to 6.2 cents.

Why was the ResApp share price in a trading halt?

ResApp requested a trading halt last week so that it could undertake a capital raising.

This morning the company announced the successful completion of its capital raising after receiving firm commitments from institutional and sophisticated investors to raise $5.5 million before costs.

According to the release, these funds will be raised through the issue of 94,827,588 new fully paid ordinary shares at an issue price of 5.8 cents per share. This represents a 14.7% discount to its last close price.

Its existing substantial shareholder, Fidelity International, has agreed to cornerstone the capital raising with a $1.5 million investment.

Why is ResApp raising funds?

The release advises that the funds raised from the capital raising provide ResApp with the financial flexibility to progress a number of initiatives.

This includes the hiring of key personnel, allowing the company to grow its commercial partnership pipeline and expedite product development initiatives. Funds will also be used for general working capital purposes.

ResApp’s CEO and Managing Director, Dr Tony Keating, said: “We are very pleased to have generated such strong interest in the placement. I would like to welcome a number of new institutional investors to our register and also express our thanks to our existing shareholders who have continued to support the company.”

“Funds secured from the placement will provide ResApp with a very solid footing to execute on our commercial strategy in telehealth and emerging markets, continue to innovate in areas such as COVID19 screening and management, and further expand the opportunity to provide solutions to large pharmaceutical companies for clinical trials and disease management,” he added.

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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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The AVZ Minerals Ltd (ASX: AVZ) share price is underperforming on Monday despite the release of a positive announcement.

At the time of writing, the lithium-focused mineral exploration company’s shares are down 2.5% to 18.5 cents.

What did AVZ announce?

Investors have been selling AVZ Minerals’ shares this morning despite the release of an update on drilling activities at the Manono Project in the Democratic Republic of Congo.

According to the release, the company has received further strong results from its Mineral Resource drilling at the project.

The latest assay results come from the last three of the nine planned diamond drill holes at Roche Dure in previously undrilled areas beneath the historical pit. These were previously inaccessible and under water during the earlier resource drilling programs.

AVZ’s Managing Director, Mr Nigel Ferguson, said: “The final assay results from these last three of the nine planned drillholes on the Roche Dure pit floor again show strong lithium mineralisation from the pit floor surface.”

Mr Ferguson also revealed that the drilling results could lead to a higher-grade core being discovered.

He explained: “Additionally, drilling also reported higher grade portions developing within the northern portions of the orebody, and that these may even coalesce both up dip and along strike.”

“This may present as the start of a much higher-grade core which will need further investigation to determine the possibility of finding more significant tonnages of high-grade feedstock, apart from those at Carriere de L’Este, that could feed the plant in its early years of operation to shorten the pay-back period,” Ferguson added.

What now?

The company will now take these drilling results and rerun its geological resource model and revisit its definitive feasibility study.

“Now these assays have been reported they will be merged with our current database and we will rerun the geological resource model to reclassify that portion of the pit floor which was previously modelled as waste due to the lack of drilling information.”

“Following on from the geology remodelling and coupled with the improvements to the plant design parameters, we will then check the previous mine design against the updated model to optimise the mine design, generate new ore reserves and revisit the DFS results,” he concluded.

More reading

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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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The Vulcan Energy Resources Ltd (ASX: VUL) share price will be one to watch when trading opens this morning. The company announced its German pilot plant for lithium extraction is now operational.

Shares in the zero-carbon lithium producer ended Friday’s trading session at $6.36 – up 1.76%. By comparison, the S&P/ASX 200 Index (ASX: XJO) ended 0.051% lower on Friday.

Let’s take a closer look at today’s announcement.

How will the Vulcan share price respond to today’s news?

In a statement to the ASX, Vulcan Energy says its direct lithium extraction (DLE) pilot plant in Germany’s Upper Rhine Valley is now fully operational. The plant’s purpose is to prove the feasibility of extracting lithium from geothermal brine.

Data from the pilot plant will be used to ultimately decided whether a larger-scale DLE plant can be made operational.

Today’s news comes after the company came to an agreement with DuPont de Nemours Inc (NYSE: DD) to “advance” DLE. In other recent news that sent the Vulcan share price soaring, last month the company announced the appointment of a CO₂ expert to its board. As well, Vulcan announced in late March it would trace its carbon footprint across its supply chain. A first for the lithium industry.

Management commentary

Vulcan managing director Dr Francis Wedin spoke on today’s announcement, saying:

Getting our Pilot Plant up and running on live geothermal brine is a significant milestone for Vulcan. This has already started producing crucial data needed for de-risking the lithium extraction process.

This is a critical step towards our strategy of producing lithium hydroxide, using our unique Zero Carbon Lithium™ process, for the European battery electric vehicle market, and building a combined renewable energy and chemicals business. We look forward to keeping our shareholders informed as we progress our efforts.

Vulcan share price snapshot

The Vulcan share price has increased an amazing 2665.22% over the last 12 months. It, along with other ASX companies, has been a beneficiary of huge growth in lithium demand. Lithium is currently trading for US $90,000 per tonne on the commodities market – a 52-week record.

Demand for lithium is increasing as demand for electric vehicles surges.

Vulcan Energy has a market capitalisation of $683.5 million.

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Motley Fool contributor Marc Sidarous 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 Harmoney Corp Ltd (ASX: HMY) share price is on watch after the company released its FY21 third-quarter results.

The Harmoney share price closed at $1.95 on Friday.

Harmoney operates in the consumer credit industry, providing online direct personal lending services in Australia and New Zealand. It offers personal loans, car loans, wedding loans, holiday loans, education loans, business loans, and home improvement loans.

Harmoney’s strong third-quarter results

Harmoney increased loans to new customers by 60% to NZ$44.1 million in the third quarter of FY21, up from NZ$27.5 million in the second quarter. Its new customer acquisition in Australia was the main growth driver, with record new loan originations of $9.4 million delivered in the month of March 2021.

This saw Harmoney achieve an increase of 148% on January 20211 and 38% growth on March 2020.

Harmoney released its new generation, behavioural credit decisioning and pricing engine called Libra on 17 February, which continues to have a “material impact” on Harmoney’s ability to originate loans in Australia.

It is the first technology release from the company that incorporates improvements specifically focused on the Australian consumer. Harmoney’s credit risk appetite and profile remains unchanged pre and post-implementation of the new platform.

Harmoney’s New Zealand operation also delivered significant growth in new loan originations during the last quarter of NZ$22.7 million. This compares to $17.1 million in the second quarter of FY21 and NZ$8.8 million in the first quarter of FY21.

What did Harmoney management say?

Harmoney CEO David Stevens welcomed the results:

Australia is our biggest opportunity for growth and our recent performance in the region underscores how quickly our platform business can scale. New loan origination in Australia has doubled since updating the technology behind our new lending scorecard, making the credit underwriting process significantly more efficient at attracting and then converting customer enquiries into settled loans.

Importantly, it does not change Harmoney’s risk appetite for high-quality, prime customers. It actually illuminates the pathway we are on to achieving our business objective of $1 billion in lending volumes each year – just in Australia. We are very confident in our ability to replicate our New Zealand success in this market.

Harmoney share price snapshot

Harmoney has a market capitalisation of $196 million and its share price has fallen more than $1 since December 2020. It’s down 35% in 2021 so far, and 87% against the financial services sector.

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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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Could Wesfarmers Ltd (ASX:WES) be a quality ASX blue chip share to own with its strong operating businesses?

Why is Wesfarmers so good?

One of the things you want to see from a blue chip is that it can survive and thrive through various local and global problems.

Wesfarmers has origins going back to 1914, which shows that it has been able to keep going through many recessions, wars, COVID-19 and so on.

It has arguably some of the best retail businesses in their respective categories.

Bunnings is the biggest and leading home hardware retailer. Officeworks is the leading office supplies retailer. Kmart is the leading discount retailer. Catch is rapidly expanding as an online retailer.

Wesfarmers also has a number of industrial businesses relating to chemicals, energy, fertilisers and safety.

Unlike many other ASX shares that are stuck being a telco, bank or supermarket, Wesfarmers has the ability to invest in other businesses that are in different sectors.

For example, the ASX blue chip share invested in a lithium mining project which will diversify earnings as it comes online.

Strong performance

Speaking of online, Wesfarmers is one of the ASX retail shares that is seeing high levels of e-commerce sales growth right now.

In the first six months of FY21, total online sales across the group more than doubled, excluding Catch. Including the Catch marketplace, online sales of $2 billion were recorded for the half.

Kmart growth is accelerating again and the Target underperformance is being addressed. On a combined basis, Kmart and Target delivered a record earnings result for the period. Target’s profitability has improved significantly, supported by strong demand and the ongoing ‘simplification’ of the businesses.

The ASX blue chip share’s management are pleased with the decision to convert some Target stores in Kmart ones. There has been sales and transaction volume uplifts from those stores already converted.

Sometimes it can take a brave short-term decision to help long-term performance be stronger long-term.

The overall business continues to generate high levels of profit and cashflow. This can fund healthy dividends and even more acquisitions over time.

Half-year continuing operations net profit after tax (NPAT) and earnings per share (EPS) were both up 25.5%, to $1.4 billion and $1.25 per share respectively. The operating cashflow went up 4% to $2.2 billion.

Wesfarmers paid an interim dividend of $0.88 per share, representing a healthy dividend payout ratio of 70.4%.

The start of the COVID-19 pandemic saw high levels of demand for Bunnings and Officeworks products so that people could work, learn and do DIY projects at home. Bunnings continues to generate impressive growth with underlying earnings growth of 39% in the first six months of FY21.

What about the rest of FY21?

Wesfarmers said the outlook is more positive for Australia, and management believe that its businesses remain well placed to deliver satisfactory shareholder returns over the long-term.

Sales have continued to remain “strong” through January and February. However, growth is expected to show a slowing effect from March as businesses cycle against strong sale months in 2020.

Wesfarmers says that it will maintain an appropriately strong balance sheet to preserve flexibility to invest in long-term growth initiatives across the group and manage the ongoing uncertainty of COVID-19.

According to Commsec, the Wesfarmers share price is valued at 26x FY21’s estimated earnings with a forecast grossed-up dividend yield of 4.6%.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers 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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SelfWealth Ltd (ASX: SWF) shares will be on watch this morning after the company released its quarterly cash flow and activities report. At Friday’s close, the SelfWealth share price was trading at 58 cents. 

Let’s take a look at what the emerging Australian share trading platform reported.

Why is the SelfWealth share price in focus? 

The SelfWealth share price will be on the radar today after the company advised it has continued to gain traction in the third quarter. In its update, SelfWealth highlighted significant growth across key reporting metrics. These included a 178% year-on-year increase in quarterly operating revenue to $5.78 million, a 166% increase in active traders to 85,994 and positive quarterly cash flow from operating activities of $558,000. 

The March quarter saw a significant increase in the number of trades executed, to a total of 514,246 trades. This represents a 36% increase on the prior quarter and 220% year on year. In further news that could impact the SelfWealth share price today, the company advised it is seeing US trading make its maiden contribution to revenue and trading volume, accounting for 36,266 trades or 7% of total trades for the quarter. 

SelfWealth continues to push into positive cash flow territory with a $558,000 positive operating cash flow for the March quarter and a net cash position of $7.41 million with no outstanding debt.

Key costs for the quarter included an increase in marketing to promote the company’s new retail trading functionality in US trading and further take advantage of increased trading interest. The update noted that its customer acquisition costs remain at historically low levels, providing a significant return on investment on marketing spend. 

Management commentary 

SelfWealth Managing Director Rob Edgley commented on the tailwinds that continue to drive the business and its goals moving forward. He said:

SelfWealth continues to benefit from the key structural changes in investment markets, driven by ultra-low interest rates globally and the digitalisation of investment markets, which were accelerated by the COVID-19 pandemic. We remain focused on the opportunities for market share expansion in this growing market and we are committed to ongoing product innovation to lead disruption in the industry.

US trading drives growth 

It will be interesting to see how the SelfWealth share price performs this morning as investors digest the company’s latest update.

The record quarter of growth in client acquisition and operating revenue was primarily driven by the company’s introduction of US trading. This was launched on 14 December 2020 and allowed users to submit a request to have the US trading feature added to their approved Australian equity portfolios.

US trading features include a USD cash trading account, competitive foreign exchange rates, a flat-fee brokerage of US$9.50 per trade and a choice of over 7,500 US securities across all major US exchanges. 

SelfWealth was pleased with the performance of its new US trading product throughout the GameStop Corp trading frenzy. Its platform was reliable amidst platform issues and trading restrictions at competing providers. The company believes this led to record client acquisition, together with a much larger than expected take up of US trading functionality from existing customers. 

More reading

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Motley Fool contributor Kerry Sun 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 Plenti Group Ltd (ASX: PLT) share price is on watch today after the company released its trading update for the fourth-quarter of FY21.

The Plenti share price is $1 per share at the time of writing.

Plenti is a technology-led consumer lending and investment company that focuses on specific industries. The company offers loan products under three verticals, or revenue streams.

First it provides automotive lending for the hire or purchase of new vehicles. Second, it provides renewable energy lending for the purchase and installation of renewable energy products such as solar panels and batteries.

Finally, it also focuses on personal lending, providing fixed-term, unsecured, interest-bearing loans used for a wide variety of purposes.

Plenti’s strong fourth-quarter results

Plenti posted record quarterly loan originations of $172.4 million, 120% above prior corresponding period and 32% above its results from the prior quarter. 

It posted record quarterly loan originations in each lending vertical, across automotive, renewable energy and personal loans. Its total loan portfolio increased to $615 million, 61% above the prior corresponding period.

Funding increased through upsizing of Plenti’s automotive loan warehouse facility to $350 million. In interesting news for buy now, pay later (BNPL) investors, it also successfully launched BNPL finance for renewable energy customers.

This was one of what the company calls a series of “significant product and technology advancements”, including progress on the company’s next generation credit decisioning and pricing models.

Its prime loan portfolio also continues to demonstrate strong credit performance, with low levels of losses and 90-plus day arrears declining to 0.31%.

What Plenti management said

Commenting on the trading update, Daniel Foggo, Plenti’s CEO, said:

Plenti’s exceptional growth during the quarter was underpinned by our relentless focus on delivering faster, fairer loans, with originations for the quarter up more than 100% on the same quarter last year. Our ambition is to be Australia’s best lender. This quarter validated our ongoing investment in technology while continuing to deliver exceptional customer experiences uncompromised by our rapid growth.

With strong momentum across each part of our business, we are powering towards our one billion dollar loan book milestone.

Plenti share price snapshot

The Plenti share price has lost 17% in 2021 so far and 23% over the past 12 months. It’s down 67% against the financial services sector and 52% against the S&P/ASX 200 Index (ASX: XJO).

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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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The Galaxy Resources Limited (ASX: GXY) share price is one to watch this morning after a quarterly update from the Aussie lithium miner.

Why is the Galaxy Resources share price on watch?

Galaxy this morning provided a quarterly results update for the quarter ended 31 March 2021 (Q1 2021). Shares in the lithium miner could be on the move following the brief update, ahead of its March 2021 quarterly activities report release on 21 April.

Galaxy’s Mt Cattlin site has successfully ramped back up to nameplate capacity during Q1 2021. Mt Cattlin achieved quarterly production of 46,588 dry metric tonnes of lithium concentrate during the period. That represents a 39.7% increase on Q4 2020 at an improved recovery of 60%.

The Galaxy Resources share price is one to watch as investors digest the latest numbers. Galaxy reported product quality of 5.8% lithium oxide in line with customer requirements.

The Aussie mining group shipped 29,917 dry metric tonnes of lithium concentrate during Q1 2021. Galaxy delayed a second shipment of 15,000 dry metric tonnes until early April due to the late arrival of a vessel.

Galaxy reported its contracting arrangements for this quarter are progressing well with pricing “well in excess” of US$600 per dry metric tonne.

It will be interesting to see how the Galaxy Resources share price performs in early trade following the update. Further information is likely to follow in the quarterly activities report on 21 April and the investor conference call at 10 am AEST on the same day.

What are the latest performance numbers for Galaxy?

Shares in the Aussie lithium producer jumped 2.8% on Friday to close at $2.98 per share. That means the Galaxy Resources share price is now up 263.4% in the last 12 months. Fellow lithium miners Orocobre Limited (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS) have also seen strong gains as lithium prices have soared.

Galaxy currently boasts a market capitalisation of $1.5 billion prior to Monday’s open when the S&P/ASX 300 Index (ASX: XKO) is tipped to edge higher.

More reading

• ASX lithium shares are surging across the board. Here’s why
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Motley Fool contributor Ken Hall 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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