The Rio Tinto Limited (ASX: RIO) share price could come under pressure on Friday after a mixed update on its Oyu Tolgoi mine in Mongolia.

What did Rio Tinto announce?

This morning Rio Tinto revealed that it has completed an updated feasibility study at Oyu Tolgoi and is in the process of submitting this to the Government of Mongolia.

Oyu Tolgoi is one of the largest known copper and gold deposits in the world. It is also regarded as one of the most modern, safe, and sustainable operations in the world.

According to the release, the updated study incorporates a new mine design for Panel 0 of the Hugo Dummett North underground mine. This new design also confirms that the caving method of mining remains valid and that the underground schedule and costs remain within the ranges previously disclosed

However, these ranges include a delay of 21 to 29 months for the first sustainable production, compared to the original feasibility study guidance in 2016. It also includes an increase of US$1.3 billion to US$1.8 billion from the original US$5.3 billion development capital.

Nevertheless, management remains very positive on the mine development.

The company’s Chief Executive of Copper & Diamonds, Arnaud Soirat, commented: “This amended mine design is another positive step in the development of the underground mine which will unlock the most valuable part of Oyu Tolgoi. We remain focused on delivering the underground project safely and within the guidance ranges we have announced on both cost and schedule.”

What now for Rio Tinto?

The company advised that detailed study, design, engineering, and optimisation work is ongoing to support the definitive estimate of Panel 0 for the development of the world-class orebody. This remains due in the second half of 2020.

Though, these estimates are subject to any additional scheduling delays or increases in capital costs arising from the impacts of the ongoing COVID-19 pandemic.

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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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Dorsavi Ltd (ASX: DVL) share price shot 276.92% higher on Thursday following the announcement of a strategic partnership with QBE Insurance Group Ltd (ASX: QBE).

About Dorsavi

Dorsavi is a biotechnology company that develops innovative technologies that offer human body motion analysis for use in clinical applications, elite sports, and occupational health and safety.

Why the Dorsavi share price shoot higher?

Dorsavi announced yesterday that is has entered an agreement with QBE Australia to provide its wearable technology to QBE customers. The goal is to provide data insights that could help in reducing movement risk, injury claims and workers’ compensation premiums. 

QBE will allocate $250,000 over 12 months to allow new and existing customers to access Dorsavi’s equipment. QBE customers will be able to access both ViSafe and myVisafe technologies.

QBE Australia General Manager People Risk, Rob Kosova, stated; “safe work Australia estimates that workplace injury and disease costs around 4% of GDP.” Additionally, he stated that over one third of these cases are due to body stressing or manual handling. The executive also stated that “partnering with Dorsavi is one way we can assist more customers prevent these injuries from happening.”

The technology to be provided by Dorsavi will include on body sensors that will be used in real time and real work environments. These sensors will measure movement and muscle activity, quantify movement risk and guide decision making on risk mitigating strategies. 

CEO of Dorsavi, Dr Andrew Rochi, said;

“We are very excited to be working with QBE Australia to provide their customers with access to cutting edge technology and to profile risk more accurately. One of the goals for insurers is to be able to pro-actively manage risk and have remote visibility on where their potential risks are, allowing insurers and corporate groups to mitigate these risks and prove solutions before they are implemented. We look forward to adding value to the QBE Australia business and to their clients’ businesses.”

About the Dorsavi share price

Dorsavi released a business update and cash flow report in April for the March quarter. The company’s cash balance was down to $1.92 million compared to $2.56 million at 31 December 2019. Net cash flow from operations was $870,000, however, the negative reduction in cashflow was 41% lower than the prior corresponding period. For the first 3 quarters of the 2020 financial year, recurring revenue was $1.16 million. This was a 22% increase on the prior corresponding period.

The business anticipated a challenging period as a result of the coronavirus with many clients of Dorsavi’s technology requesting a pause in their subscriptions. All staff agreed to a pay cut of approximately 30% until the end of May 2020 and the company slashed operating expenses by 20% in order to optimise cash reserves.

The Dorsavi share price is up 512.5% from its 52 week low and is currently up 63.3% since the beginning of the year. The Dorsavi share price is down 2% since this time last year.

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Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Lovisa Holdings Ltd (ASX: LOV) share price will be one to watch on Friday after the release of a business update.

What did Lovisa announce?

According to the release, the fashion jewellery retailer’s performance in the fourth quarter was unsurprisingly below expectations because the closure of stores during the pandemic.

And despite an impressive 256% increase in online sales during the quarter, it wasn’t enough to stop its full year sales declining in comparison to FY 2019. Sales revenue (excluding franchise revenue) for the full year ended 28 June 2020 came in at $237 million. This represents a 4.8% decline on FY 2019’s sales revenue of $249 million.

Same store sales declines.

In addition to the above, the company revealed that comparable store sales for the period since stores have re-opened, based on the actual days each store traded, were down 32.5% on last year.

Looking ahead, management warned that forecasting trading conditions remains challenging and no guidance will be provided at this stage.

Spain exit.

After previously putting its store rollout on hold in Spain, Lovisa has made the decision to exit this market.

Management explained that it was disappointed with the lack of support from its landlords in the country.

As a result of this exit, Lovisa expects to recognise an impairment charge of $3.3 million in its FY 2020 results.

Balance sheet remains strong.

One positive is Lovisa’s balance sheet strength. Thanks to decisive action taken on costs and cash management since the outbreak of the pandemic, its balance sheet position remains strong and its inventory levels are well managed.

At the end of the financial year, Lovisa had a net cash balance of $21 million. This is $10 million more than this time last year.

Management notes that this cash balance, combined with undrawn financing facilities of $44 million, leaves it well placed to invest in future growth opportunities as the global economy emerges from the current situation.

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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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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With interest rates at ultra-low levels and unlikely to improve for some time to come, I continue to believe that the share market is the best place to earn a passive income.

But which dividend shares should you buy? Listed below are two top ASX dividend shares which I think are high quality options right now. Here’s why I like them:

Dicker Data Ltd (ASX: DDR)

Dicker Data is a wholesale distributor of computer hardware and software. It has been an exceptionally strong performer in 2020 despite the pandemic. In fact, this week Dicker Data released a half year update which revealed unaudited first half revenue of $1 billion and net profit before tax of $40 million. This represents an 18.3% and 25% increase, respectively, over the prior corresponding period.

In light of this, I’m confident it is in a position to deliver on its plan to increase its dividend by 31% this year. This will bring it to 35.5 cents per share, which based on the current Dicker Data share price, equates to a fully franked 4.6% dividend yield.

Telstra Corporation Ltd (ASX: TLS)

Another dividend share that I think income investors ought to buy is Telstra. After several years of struggles because of the decline of its fixed line business due to the NBN rollout, I believe a return to growth is finally on the horizon. This is thanks to its sizeable cost cutting, the arrival of 5G internet, and of course the easing of the NBN headwinds.

In respect to the latter, peak pain from the NBN rollout is expected to hit in the near future. After which, the pressure on its earnings will ease and growth could be on the agenda once again. Positively, until then I’m confident that its free cash flows are more than enough to sustain its 16 cents per share dividend. Based on the current Telstra share price, this equates to an attractive fully franked 5% dividend yield.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited and Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Thursday the S&P/ASX 200 Index (ASX: XJO) was on form again and stormed through the 6,000-point level. The benchmark index jumped 1.65% to 6,032.7 points.

Will the market be able to build on this on Friday? Here are five things to watch

ASX 200 expected to rise again.

The ASX 200 looks set to end the week on a high on Friday. According to the latest SPI futures, the benchmark index is expected to rise 36 points or 0.6% at the open. This follows a solid night of trade on Wall Street which saw the Dow Jones rise 0.35%, the S&P 500 climb 0.45%, and the Nasdaq push 0.5% higher. U.S. equities pushed higher after a better than expected U.S. jobs report.

Oil prices push higher.

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could end the week on a high after oil prices continued their recovery. According to Bloomberg, the WTI crude oil price is up 1.2% to US$40.30 a barrel and the Brent crude oil price is 1.7% higher to US$42.75 a barrel. Solid U.S. economic data drove oil prices higher overnight.

Gold price recovers.

Gold miners including Northern Star Resources Ltd (ASX: NST) and Saracen Mineral Holdings Limited (ASX: SAR) could end the week on a positive note after the gold price pushed higher. According to CNBC, the spot gold price has risen 0.4% to US$1,787.70 an ounce despite the strong economic data.

Magellan rated neutral.

The Magellan Financial Group Ltd (ASX: MFG) share price could be overvalued according to one leading broker. A note out of Goldman Sachs reveals that its analysts have retained their neutral rating and $51.69 price target on the fund manager’s shares. Goldman notes that Magellan’s shares are currently trading at 23.5x FY 2021 earnings. This is ahead of its five-year average of 20x. Magellan share price closed at $61.68 on Thursday.

Aristocrat and Reliance block sales.

Aristocrat Leisure Limited (ASX: ALL) and Reliance Worldwide Corporation Ltd (ASX: RWC) shares will be on watch on Friday after reports of large block trades. According to the AFR, someone was selling $127 million worth of Aristocrat shares yesterday afternoon. After which, an investor offloaded the equivalent of a 4.4% stake in Reliance Worldwide

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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 Reliance Worldwide Limited. The Motley Fool Australia has recommended Reliance Worldwide Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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