ASX growth shares may have deflated the last few weeks, but one expert has warned investors to not fall into the trap of going “all in” on value shares.

Overnight, the US Federal Reserve indicated interest rates would remain at zero until at least 2023, and it would tolerate inflation that may come in the meantime.

This boosted share investor confidence, pushing up US markets as well as the ASX in early trade Thursday.

DeVere Group chief Nigel Green said the Fed had a “tricky” two-day meeting this week.

“They had to communicate a balance between a COVID-scarred economy and a booming outlook.

“It was a fine line to walk and, clearly, they don’t want to hamper a recovery that’s just getting going.”

Investors exhale, but where to invest now?

Now boosted by the confidence of low interest rates, Green expected investors to “top up” their portfolios with further purchases.

But he warned to avoid the “rotation trap”.

“The danger is the massive hype surrounding rotation from growth stocks – those expected to grow sales and earnings at a faster rate than the market average – into value stocks,” he said.

“It should not be a case of either value or growth stocks.  A properly diversified portfolio needs to have both.”

According to Green, the post-COVID world will not return immediately – if ever – to the way life was before the pandemic.

“It’s likely we’ll maintain some lockdown habits like working from home more often, but we’ll also be back in the gym. We’ll travel and go to public events again, but we’ll also be more conscious of the environment and hygiene procedures.”

So value stocks might have roared the past few weeks, but it won’t be a chronic downturn for growth shares.

“Does anyone suddenly seriously think Amazon.com Inc (NASDAQ: AMZN), Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) and Tesla Inc (NASDAQ: TSLA) are not companies of the future also?”

Inflation fears are overblown

Inflation is the friend of value shares but the enemy of growth stocks. 

Green expressed doubt against fears this would be a chronic problem.

“We can expect some price growth as economies re-open, but this is likely to be short-term,” he said.

“I think, as it stands now, longer-term inflation fears due to pent-up demand are being overplayed. For example, people might book one trip away, but they are unlikely to book 5 or 6 in one hit.”

Trying to time the market is a mug’s game anyway. So Green recommended investors make hay while rates are low and the economy is on the way up.

“Investors should use this time to build their wealth by topping up their portfolios – but they must do so judiciously.”

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The Ionic Rare Earths Ltd (ASX: IXR) share price has had a momentous year so far, it’s currently up by 190% year to date. The rare earth producer has had a run of good news concerning its Makuuta project, a deposit of ionic clay rare earths.

Let’s look closer at what’s driving the Ionic share price.

The Makuuta project

In the first half of the 2020/21 financial year, the company’s stake in the Makuutu project increased from 31% to 51%. The company has also advised that its stake may increase again, potentially reaching 60% in the future.

In January, Ionic Rare Earths announced Makuuta had received two additional exploration licences, increasing its exploration target by 50%. Finally, earlier this month, the company declared the mineral resource estimate of its Makuutu project had increased by 210%.

Rare earths are critical components of wind turbines and electric vehicles. Ionic Rare Earths believes the value of rare earths will go up as demand for clean energy increases.

The company states that ionic clay deposits operate at lower costs and have shorter development timelines than hard rock deposits.

Located in Uganda, Makuutu is one of the only large ionic clay rare earth element deposits outside of China. It is surrounded by infrastructure, including tarred roads, rail, power and water, and is accessible regardless of weather conditions.

Of the 315 million tonnes of rare earth minerals present at Makuutu, 26% are heavy rare earth oxides and 35% are critical rare earth oxides.

Ionic Rare Earths share price snapshot

The Ionic Rare Earths share price has rocketed higher since the beginning of the year. After commencing 2021 trading at 2 cents, the Ionic share price is currently sitting at 5.8 cents.

The company’s shares have also increased by 480% over the last 12 months.

Ionic Rare Earths has a market capitalisation of around $178 million with approximately 3.1 billion shares outstanding.

More reading

• Why the Creso Pharma (ASX:CPH) share price is rocketing 16% higher today
• Why the Sayona Mining (ASX:SYA) share price is rocketing 25%
• Decmil (ASX:DCG) share price lifts on $25 million contract win
• Webjet (ASX:WEB) share price edges higher on strategy update
• Why Corporate Travel Management, Silver Lake, Volpara, & Vulcan are pushing higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Bailador Technology Investments 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 market may be tumbling lower again on Thursday, but the same cannot be said for the Creso Pharma Ltd (ASX: CPH) share price.

In afternoon trade the cannabis company’s shares are up a sizeable 16% to 22 cents.

This gain means the Creso Pharma share price is now up over 250% since this time last year.

What is driving the Creso Pharma share price higher today?

The strong gain by the Creso Pharma share price today appears to have been driven by investors taking advantage of a recent pullback.

In fact, although they have jumped 16% today, the company’s shares are still trading below the high they reached on Monday morning of 23 cents.

What’s been happening?

Interestingly, investors have been selling the company’s shares since it announced an acquisition earlier this week. This could be a sign that some are not convinced by Creso Pharma’s foray into the psychedelics market.

According to that announcement, the company has signed an agreement to acquire Halucenex Life Sciences. It is a Canada-based psychedelics company focused on developing treatments for Treatment Resistant Depression in individuals suffering from PTSD, and other mental health illnesses.

Management notes that the acquisition provides Creso Pharma with direct entry into the emerging psychedelic medicines market, creating a diversified natural medicines company to improve mental health and wellness.

It believes the combined group will allow the Halucenex business to benefit from a number of significant synergies, ultimately fast tracking the company to early revenues.

“A major milestone”

Creso Pharma’s Non-Executive Chairman, Adam Blumenthal, is very positive on the acquisition and believes it is a major milestone for the company.

He said: “This is a major milestone for Creso Pharma and marks our evolution into a broader based pharmaceutical business. Creso will now sell its trusted cannabis products and progress the commercialisation of a range of psychedelic-assisted psychotherapy treatments. Our entry into this market provides the Company with another lucrative vertical and an additional near term revenue stream.”

“Mental health and PTSD are becoming detrimental to our society and this has been highlighted in the last 12 months. These conditions have been exacerbated by COVID-19 and the available treatments are shown to have limited effectiveness and many side effects. Psychedelic-assisted therapy is a new alternative treatment route, which has considerable promise.”

“The acquisition of Halucenex will strengthen our presence in Canada, as well as provide a number of opportunities in drug development which will inevitably lead to further new market entries and commercialisation opportunities.“

More reading

• Creso Pharma (ASX:CPH) to commence phase II clinical trials
• How Mexico could turbocharge ASX cannabis shares
• What’s with the Creso Pharma (ASX:CPH) share price today?
• The Creso (ASX:CPH) share price fizzles despite new distribution deal

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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ASX lithium share Sayona Mining Ltd (ASX: SYA) is rocketing today after the company provided a project update. In early afternoon trade, the Sayona share price is surging 25% to 4 cents. 

Let’s take a look at the company’s latest lithium prospect upgrades.

What did the company report?

The Sayona share price is soaring after the company reported the Canadian National Instrument (NI) 43‐101 review had revealed “high exploration potential for lithium pegmatites” at its Tansim Lithium Project in Quebec.

Sayona said it will now engage in a CA$1.6 million (AU$1.7 million) exploration project, with 5,000 metres of drilling planned in phase 1. It plans to test for “new albite‐spodumene pegmatites” and said the program will complement resource drilling at its Viau‐Dallaire and Viau prospects in the year ahead.

Commenting on the results, Sayona managing director Brett Lynch said:

The confirmation of Tansim’s high exploration potential is extremely welcome following our recent expansion of the project. We look forward to progressing drilling at the Viau‐Dallaire and Viau prospects to take them to the resource determination stage.  

Lynch added that Tansim’s high growth potential will now see it play a larger role in Sayona’s 2021 plans:

We see Tansim becoming a key component of our vision for a world‐scale lithium hub in the Abitibi region, uniquely located to service the North American lithium market.

Sayona Mining share price snapshot

The remarkable gains in the Syaona share price didn’t gain traction until 14 January this year after the company reported it had inked a deal with lithium miner Piedmont Lithium Ltd (ASX: PLL).

A series of other positive announcements, like news of its increased claims around Tansim announced on 11 March, have also seen Sayona shares head higher. 

This has all added up to the Sayona share price rocketing by more than 290% in 2021. That compares to a gain of around 1% for the All Ordinaries Index (ASX: XAO).

More reading

• These are the top performing ASX lithium stocks in 2021 so far
• Here’s why this ASX lithium share is soaring 10% today

Motley Fool contributor Bernd Struben 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 Decmil Group Ltd (ASX: DCG) share price is moving higher this morning following the announcement of a new contract win for the construction and engineering group.

Today’s update comes only 3 days after the company advised it had been awarded a $140 million contract to upgrade the Gippsland rail.

At the time of writing, the Decmil share price is trading 3.6% higher at 57.5 cents a share.

Bruce Highway to get an upgrade

According to the release, Decmil has secured a $25 million contract from the Queensland Department of Transport and Main Roads (DTMR). The contract involves upgrading a stretch of the Bruce Highway between Gin Gin and Benaraby.

As per the scope, Decmil will be responsible for road widening works, safety improvements, minor drainage repairs/enhancements, pavement, line marking, signage, safety barriers, landscaping, and street lighting. The works will commence this month and are expected to be completed by late 2022.

The company noted its strong track record for delivering infrastructure projects, specifically on the Bruce Highway. Today’s win is certainly music to the ears of Decmil shareholders. Notably, this is in addition to Decmil’s current $13.5 million works on the Bruce Highway between Calliope River and Mt Alma. Works are said to be progressing on the program.

Decmil CEO Dickie Dique stated, “Successfully delivering numerous projects for DTMR and our successful progression of another Bruce Highway contract was a key factor behind Decmil winning this contract.”

Reduction in Gippsland share

Decmil also snuck in an update to its recent Gippsland rail contract win. Decmil advised its share in the $300 million consortium with Arup and Cimic Group Ltd (ASX: CIM) subsidiary UGL will now be $120 million, rather than the initially stated $140 million value.

Consequently, Decmil’s announcement is a net increase of $5 million in contract value for the engineering company.

Decmil share price under construction

Decmil suffered a share price collapse of nearly 90% in late 2019. Since then, the company has undergone a board refresh and equity raise to set the business back on track. Despite this, the group’s share price has sunk 65% over the past 12 months. 

However, with several contracts wins in recent months, Decmil is attempting to grow its pipeline and increase its profitability again. At the end of December last year, the group reported having $600 million of work in hand, 70% of which are government contracts. 

More reading

• What’s going on with the Cimic (ASX:CIM) share price today?
• ASX 200 dips, CBA launches BNPL, Fonterra reports
• Cimic (ASX:CIM) share price falls despite positive update
• Why the Decmil (ASX:DCG) share price is surging 5% today
• Cimic (ASX:CIM) share price slides after credit rating downgrade

Motley Fool contributor Mitchell Lawler 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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Webjet Limited (ASX: WEB) shares are edging higher today after the company released a transformation strategy update. At the time of writing, the Webjet share price is trading 0.65% higher at $6.22. In comparison, the S&P/ASX 200 Index (ASX: XJO) is currently trading 0.32% lower.

Let’s take a look at what the travel company reported.

The road to recovery for the Webjet share price? 

The Webjet share price is in the green as the company’s transformation strategy update puts the spotlight on its WebBeds business in a post-COVID-19 world. The company highlighted the significant global opportunity, stating that the pre-COVID global accommodation market had a value of more than $800 billion in total transaction value (TTV). Of this, WebBeds has captured some ~4% market share. 

Post pandemic, Webjet believes this remains a critical distribution channel supporting the travel industry’s recovery. As the travel industry picks up, the company aims to take advantage of changing travel patterns, expand into new regions and emerge as the #1 global B2B provider. 

New revenue opportunities 

North America is a historically underrepresented region for Webjet’s WebBeds business despite being the largest destination within its network. With only 1% market penetration in the Americas, the company is focused on leveraging new opportunities such as targeting new market segments and expanding contracted inventory in key cities. 

Europe also represents an important region for the business given the significant number of independent hotels. Webjet aims to increase its footprint across Eastern Europe to leverage the $26 billion B2B market opportunity.

The APAC region was on track to be the largest region by booking volume for Webjet pre-COVID. The company believes this region has the potential to deliver the most significant growth post COVID. According to the company, the pandemic will likely bring about new opportunities in the region, with entry into areas of the domestic market that were once impenetrable. 

Webjet outlook 

Webjet’s transformation strategy update did not provide an update regarding earnings but instead focused on its cost efficiencies and margin improvements. 

Delivery of the company’s cost efficiencies are on track with its 1H21 costs down 42% over 1H20. This should help Webjet achieve its 8/3/5 target which represents 8% revenue/TTV, and 3% costs/TTV to drive 5% of earnings before interest, taxes, depreciation, and amortisation (EBITDA)/TTV. 

More reading

• ASX 200 down 0.15%: Westpac asset sale, Webjet update, gold miners jump
• Why Webjet (ASX:WEB) got kicked out of ASX All Tech index
• ASX 200 down 0.6%: Telstra upgraded, Webjet rated as a buy, Westpac update
• Webjet (ASX:WEB) share price rises on bullish broker note
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet 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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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a another decline. At the time of writing, the benchmark index is down 0.4% to 6,767.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 4.5% to $21.96. Investors appears to be taking advantage of a pullback in the corporate travel booking company’s shares on Wednesday to invest today. Yesterday, the Corporate Travel Management share price came under pressure after it revealed that its CEO had offloaded over $31 million worth of shares.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price has jumped over 7% to $1.68. The catalyst for this was a solid rise in the gold price overnight after the latest FOMC meeting. At the meeting, the US Fed advised that it remained committed to not increasing rates until 2023. It isn’t just Silver Lake on the rise today. A large number of gold miners are recording solid gains, which has driven the S&P/ASX All Ords Gold index up a sizeable 3.7%.

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price has risen 3% to $1.33. Investors have been buying this healthcare technology company’s shares after it revealed promising results from round two of its DENSE trial. The DENSE trial is the first randomised controlled study on the clinical utility of breast MRI supplemental screening for women with extremely dense breasts. The study is using the company’s Volpara Density software to assess breast density.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price has climbed 2.5% to $6.50 after announcing a key new appointment to its board. According to the release, the company has appointed former Tesla Head of Battery and Energy Supply Chain, Annie Liu, as a Non-Executive Director. During her time at Tesla, Ms. Liu led and managed the multi-billion-dollar strategic partnerships and sourcing portfolios that support the electric vehicle (EV) giant’s Energy and Battery business units.

More reading

• ASX 200 down 0.15%: Westpac asset sale, Webjet update, gold miners jump
• Here’s why the Volpara (ASX:VHT) share price is storming higher
• Why the Vulcan Energy (ASX:VUL) share price is charging higher today
• Why Corp Travel Management, IGO, Limeade, & ResApp are tumbling lower
• Corporate Travel Management (ASX:CTD) shares sink after CEO’s $31.5m share sale

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 VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended VOLPARA FPO NZ. 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 PlaySide Studios Ltd (ASX: PLY) share price is on the rise today, up 5.3% at the time of writing after earlier posting gains of 8%.

PlaySide is a newcomer to the ASX, with shares first trading on 17 December last year.

We take a look at the ASX game developer’s latest video game launch announcement below.

What did PlaySide report today?

PlaySide shares are moving higher after the company advised it has launched a follow-up to its successful Animal Warfare game. The new game in its Warfare franchise, Toy Warfare, is going global, available in 170 countries on the Apple App Store and Google Play Store.

The company revealed that Animal Warfare has already scored 7.7 million downloads and continues to sell well on the US Apple App Store. It’s ranked 18 in the strategy genre.

According to PlaySide, players of the new Toy Warfare can “merge and level up dozens of different cute, cuddly and somewhat aggressive toys including action figures, remote control cars, and teddy bears that are sent into epic battles to win gold, glory and the occasional bragging rights”.

PlaySide developed both Warfare games with its WARkit system. The company said it expects to use WARkit, which enables the rapid design and development of additional warfare titles, to develop more titles in the future.

Since its initial public offering (IPO) in December, PlaySide has launched 3 original IP titles. Atop Toy Warfare, these include Idle Area 51 and Garbage Truck 3D!!!

PlaySide share price snapshot

ASX newcomer PlaySide Studio’s share price is up 52% since it began trading on the ASX in mid-December. Over that same time, the All Ordinaries Index (ASX: XAO) has gained 1%.

The PlaySide share price is down 10.3% so far in 2021.

More reading

• 4 exciting small cap ASX shares to watch
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Motley Fool contributor Bernd Struben 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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Strike Resources Limited (ASX: SRK) shares are flying today after the mineral resources company made a major iron ore announcement. At the time of writing, the Strike Resources share price is trading 11.9% higher at 23.5 cents. In comparison, the All Ordinaries Index (ASX: XAO) is currently down 0.22%.

At one point during earlier trade, Strike shares rallied by as much as 21% before retreating to their current level.

Let’s take a closer look at what’s driving the company’s shares today.

Strike strikes it rich

In a statement to the ASX, Strike declared it had shipped 20,000 tonnes of iron ore from its Apurimac Project in Peru since December 2020. In that time, 6,000 tonnes of ore have already been crushed and processed. The ore consists of 64% to 65% iron.

Strike expects the site, which it fully owns, to increase production to 125,000 tonnes per year.

The company claims operational costs of extracting and crushing the ore will equate to roughly US$70 per tonne. In comparison, the current market price of iron ore is US$168 per tonne. Strike claims iron ore’s price can still climb by an additional US$33 per tonne. The website Trading Economics, however, is forecasting the iron ore price to fall to $143.81 in 12 months’ time.

Words from the managing director

Strike managing director William Johnson said the following in relation to the announcement:

Whist the Company remains firmly focussed on developing Paulsens East in the Pilbara into production, current market conditions have provided an opportunity to generate additional valuable cash flow from a mining operation at our Apurimac Project in Peru as well. 

Our local Peruvian team on site have done a tremendous job in marshalling local communities, miners and contractors together. Strike looks forward to replicating this operation several times across different deposits and community groups so we can progressively ramp up production whilst providing sustainable economic employment opportunities for local community members.

Iron ore’s meteoric rise

Iron ore’s commodity price is up 86.7% on this time last year. What is the main reason for this? In a word, China.

Demand for the product from The People’s Republic is booming as the country invests in its infrastructure and steel making capabilities. China alone produces over half of the world’s steel.

As China is the largest customer for iron ore, and it wants more of it, global demand for the mineral is up. As demand for a product increases, then so too must its price. In economics, this is known as the law of supply and demand.

Strike Resources share price snapshot

One year ago, the Strike Resources share price was trading at 3.7 cents. Since then, the company’s value has shot up by nearly 590%. Strike shares reached their 52-week high of 30 cents in January this year.

Based on the current share price, the company has a market capitalisation of around $52 million.

More reading

• Why the PlaySide (ASX:PLY) share price leapt 8% this morning
• ASX 200 down 0.15%: Westpac asset sale, Webjet update, gold miners jump
• Why the Bailador (ASX:BTI) share price is lifting this morning
• What’s going on with the Cimic (ASX:CIM) share price today?
• Cleanaway (ASX:CWY) share price headaches continue with Veolia lawsuit

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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At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) has failed to follow Wall Street’s lead and is trading lower. The benchmark index is down 0.15% to 6,784.5 points.

Here’s what is happening on the market today:

Webjet update

The Webjet Limited (ASX: WEB) share price is edging lower today following the release of an update ahead of the UBS Sydney event. In its presentation the company updated the market on its transformation progress. Management believes the company is well-placed for a post-COVID world, particularly its WebBeds business. It also noted that initiatives are currently underway to be 20% more cost efficient at scale and that WebBeds is taking advantage of new revenue and cost reduction opportunities.

Westpac asset sale

The Westpac Banking Corp (ASX: WBC) share price is trading lower today despite announcing another asset sale. The banking giant has signed an agreement to sell its Westpac Lenders Mortgage Insurance (WLMI) business to Arch Capital. While Westpac will record a loss on sale in FY 2021, the sale is expected to add approximately 7 basis points to Westpac’s Common Equity Tier 1 capital ratio. Management expects completion to occur by the end of August 2021.

Gold miners charge higher

It has been a great day of trade for gold miners such as Resolute Mining Limited (ASX: RSG) and Silver Lake Resources Limited (ASX: SLR) on Thursday. They are charging higher after a strong night of trade for the gold price following the latest FOMC meeting. At the meeting, the US Fed committed to not increasing rates until 2023. At the time of writing, the S&P/ASX All Ords Gold index is up a sizeable 3.4%.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Silver Lake share price with an 8% gain. This follows a rise in the gold price overnight after the FOMC meeting. The worst performer has been the SKYCITY Entertainment Group Limited (ASX: SKC) share price with a 4% decline on no news.

More reading

• Westpac (ASX:WBC) share price lower despite announcing another asset sale
• Why Webjet (ASX:WEB) got kicked out of ASX All Tech index
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 dips, CBA launches BNPL, Fonterra reports
• Is the Commonwealth Bank (ASX:CBA) share price a buy or hold?

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Sky City Entertainment Group 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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