The Centaurus Metals Limited (ASX: CTM) share price is charging higher today after the company delivered a maiden JORC 2012 mineral resource estimate (MRE) for its nickel-sulphide project in Brazil.

At the time of writing, Centaurus Metals shares have jumped 32.84% to trade at 44.5 cents apiece. This rise takes the company’s current market capitalisation to around $116 million.

About Centaurus Metals

Centaurus is an exploration company focused on the development of its wholly-owned Jaguar Nickel-Sulphide Project located in the Carajás Mineral Province in Brazil.

The company acquired the Jaguar Project from global mining giant Vale S.A. in September 2019. Vale completed a historical non-JORC MRE in 2010, which comprised 40.4 million tonnes at 0.78% nickel for a total of 315,000 tonnes of contained nickel.

Additionally, Centaurus holds the development-ready Jambreiro Iron Ore Project, which is located in south-east Brazil. It is a fully permitted, wholly-owned project that is licensed for 3 million metric tonnes per year of production.

Why is the Centaurus Metals share price surging? 

This morning, Centaurus announced a maiden JORC 2012 indicated and inferred MRE of 48 million tonnes at 1.08% nickel for a total of 517,500 tonnes of contained nickel for its Jaguar Project.

What’s more, this maiden MRE includes a higher-grade component of 20.6 million tonnes, grading 1.56% nickel for 321,400 tonnes of contained nickel. The company noted that this provides an “outstanding” platform from which to commence scoping and development studies.

This maiden MRE is based on more than 65,000 metres of diamond drilling, including 218 diamond drill holes.

“This is a phenomenal starting point confirming Jaguar’s status as a new globally-significant nickel sulphide project,” said managing director Darren Gordon.

“With a maiden Resource containing more than 500,000 tonnes of nickel, this is already one of the largest near-surface undeveloped nickel sulphide projects in the world and, as a maiden JORC Resource number, we believe it is up there with some of the best initial JORC Resources ever published by an ASX-listed junior,” Mr Gordon added.

Centaurus pointed out that Jaguar is unique in the nickel-sulphide space as the high-grade mineralisation comes almost to surface and continues at depth. Around 80% of the nickel metal in the maiden MRE sits less than 200 metres from the surface, which the company believes demonstrates the strong open pitiable potential of the project.

What now?

The maiden JORC MRE for the Jaguar Project covers the six Jaguar deposits and two Onça deposits. Since drilling commenced in November 2019, the company has drilled and successfully intersected high-grade nickel sulphides at three of the Jaguar deposits (south, central and north), as well as both Onça deposits.

Centaurus is yet to commence drilling at the Jaguar West or Jaguar North-East deposits, however, drilling is planned in the second half of 2020.

Additionally, the company will undertake step-out drilling at Jaguar in the second half of 2020 to test deeper high-grade underground targets and strike extensions of the known deposits.

In-fill drilling is already in progress, with two diamond rigs operating on day-shift only and a third rig on standby. The company plans to ramp-up back to three rigs on double-shift and mobilise a reverse circulation rig in the third quarter of 2020. This is part of its strategy to unlock the full potential of the Jaguar Project as quickly as possible.

“This multi-pronged approach should ensure that we can continue to grow the resource as we advance this exceptional project towards development,” Mr Gordon said.

Closing out his comments, Mr Gordon stated: “We also expect to complete a Scoping Study and deliver a further Resource upgrade this year, providing shareholders with strong news flow over the coming months.”

More reading

• Do you have $1k to invest? Buy 1 of these ASX shares
• Not sure about the big four banks? Buy these ASX dividend shares instead
• The latest ASX recommendation changes by top brokers
• ABS reveals which industries (and ASX shares) may rebound hard after COVID-19
• 3 exciting small cap ASX shares to add to your watchlist

Motley Fool contributor Cathryn Goh 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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Investing $1,000 is an important choice. Delaying spending and saving instead is a praiseworthy decision. But what ASX shares are you meant to choose?

Aussies should want their money to work as hard as it can to grow their wealth for the long-term.

Vanguard Australian Shares Index ETF (ASX: VAS) isn’t a terrible choice. It has low costs and (normally) a decent dividend yield. However, a large percentage of it is invested in the big four ASX banks of Westpac Banking Corp (ASX: WBC) and its peers.

I think Aussie investors can do better for their portfolio than that. Here are three ideas:

Share 1: BetaShares Global Sustainability Leaders ETF (ASX: ETHI)

I believe there are several exchange-traded funds (ETFs) that Aussies can buy that would provide better returns than the Vanguard Australian Shares Index ETF over the long-term.

This ETF is invested in around 200 international climate change leaders (as measured by their relative carbon efficiency) and they “are not materially engaged in activities deemed inconsistent with responsible investment considerations”.

Its top 10 exposures are: Apple, Mastercard, Visa, Nvidia, Home Depot, Adobe, Paypal, Toyota, Netflix and ASML. As you can see, it has excluded some of the biggest businesses in the world like Facebook, Alphabet and Microsoft.

But the returns of the ETF haven’t been hampered by the lack of those big names. At the end of May 2020 it had returned 33% over the prior 12 months. Over the past three years it had returned 19.75% per annum. Since inception in January 2017 it had returned 21.2% per annum. I think those are compelling returns. Plus, those returns are after fees. The ETF charges 0.59% per annum, which is good value considering there are ethical screens for the shares involved.

With this ETF I like that you get great international diversification, strong returns and it can align your investments with your values, if that’s what you’re aiming for.

Share 2: PM Capital Global Opportunities Fund Ltd (ASX: PGF)

At a share price of $0.89 I think listed investment company (LIC) PM Capital Global Opportunities Fund looks really good value.

The job of a LIC is to invest in shares on your behalf. PM Capital Global Opportunities looks to invest in good value non-ASX shares. The strengthening Aussie dollar makes this a good time to invest in overseas shares.

PM Capital Global Opportunities is invested in shares like Visa, KKR & Co and Siemens. It has a diversified portfolio and it is able to short shares, where it can make money if share prices go down. At the end of May, 8.2% of its portfolio was in short positions.

I think it looks great value right now because the share price is valued at a 24% discount to the pre-tax net tangible assets (NTA) at 19 June 2020. The NTA has probably reduced since then, but a 20% discount would still be great value in my opinion.

Share 3: Bubs Australia Ltd (ASX: BUB)

At a share price of $0.92 I think this ASX share looks increasingly good long-term value.

If you look at today’s revenue versus the market capitalisation then Bubs doesn’t look exciting. But as investors we need to think where businesses might be in a few years from now.

Bubs is growing at a very fast pace. In the quarter to 31 March 2020 it generated record quarterly revenue of $19.8 million – this was growth of 67% compared to the prior corresponding period and it represented growth of 36% compared to the previous quarter.

I think there’s plenty more growth in store for the goat milk infant formula business. Asia is a very large market that Bubs is targeting. Vietnam and China growth alone could turn Bubs into a much larger business. Also, Bubs’ profit margins are growing as it benefits from the economies of scale effect. 

The fact that Bubs recently turned cashflow positive is a very good step for a business in the current COVID-19 circumstances. I think Bubs is definitely one ASX share to watch over the next five years.

Foolish takeaway

I’d be happy to invest $1,000 into one of the above ASX shares. Indeed, at these prices I’d be happy to invest a lot more than just $1,000. The short-term may be volatile, but I think all three shares can beat the ASX index over the long-term at the current prices.

More reading

• Are you in your 20s? Here’s why I would buy these quality ASX shares
• 3 top ASX growth shares to buy for FY21
• 10 high quality ASX shares to buy in FY 2021
• Where to invest $5,000 into ASX shares in July
• 3 top ASX shares to buy for growth investors in July

Tristan Harrison owns shares of PM Capital Global Opportunities Fund Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO. The Motley Fool Australia has recommended BUBS AUST FPO. 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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While I think that the big four banks are top options for income investors right now, not everyone is a fan of them.

So, if you’re looking for dividends outside the banking sector, then the two shares listed below might be the ones to buy:

Aventus Group (ASX: AVN)

The first share that I think could be a good alternative to the big four banks is Aventus. It is a retail property company which specialises in large format retail centres (retail parks) across Australia. At the last count, the company had a total of 20 centres in its portfolio. These centres are home to a diverse tenant base of 593 quality tenancies. This includes many of the largest retailers in the country such as ALDI, Bunnings, Officeworks, The Good Guys, and Super Cheap Auto.

Pleasingly, its portfolio has a high weighting towards everyday needs, which I believe leaves it better positioned than most to ride out the current crisis. One broker that is particularly positive on Aventus is Goldman Sachs. It recently forecast a ~17.3 cents per unit distribution in FY 2021. This equates to a massive forward ~8.2% distribution yield.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

If you don’t mind waiting until FY 2021 for dividends, then I think Sydney Airport could be a great option. While the airport operator could still pay a heavily reduced final dividend, I would suggest investors turn their attention to the future.

Although it will take time for travel markets to recover in full, I’m optimistic the domestic travel market will be strong enough to allow the company to pay a 29 cents per share dividend in FY 2021. If this estimate proves accurate, it will mean a 5.2% dividend yield next year. I think this makes it well worth considering a patient investment in its shares.

More reading

• ABS reveals which industries (and ASX shares) may rebound hard after COVID-19
• Broker survey points to more upside for JB Hi-Fi and these ASX stocks
• ASX 200 Weekly Wrap: ASX retreats as confidence wanes
• Share price winners and losers of the pandemic
• These top ASX dividend shares could be great option for income investors

The post Not sure about the big four banks? Buy these ASX dividend shares instead appeared first on Motley Fool Australia.

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Get used to being whiplashed fellow Fools! The market is ding-donging and unlikely to break out to the up or downside until the August reporting season or a black swan event – whichever comes first.

It doesn’t take much to move share prices in this environment, and I think changes to broker recommendations will have an outsized impact on ASX share prices.

While the S&P/ASX 200 Index (Index:^AXJO) slumped by more than 2% in after lunch trade, the 3P Learning Ltd (ASX: 3PL) share price surged by a similar amount to 85 cents for this reason.

Education’s priceless

Morgan Stanley upgraded the online education services group to “overweight” from “equal-weight” after secured a US$10 million ($14.6 million) revenue opportunity.

3PL will supply the ministry of education of a Middle East country with Mathletics licenses and services.

This is a significant deal given that the group posted revenue of $54 million in FY19.

While the agreement is for 12-months, there is scope to extend the term and to increase the number of licenses for the online math program.

Price target upgrade

Morgan Stanley believes the ministry wants 3PL to succeed, but just counting the one-year revenue, the broker’s price target jumps to $1.10 from 86 cents a share.

“Initial evidence of sales execution, uplift in cash from service delivery and positive implications on strength of sales pipeline (with high incremental margins) suggests that 3PL is too cheap at <2x EV/Sales FY20e,” said the broker.

“There are questions that need clarifying, but sales have improved significantly and the risk-reward is much more constructive now in our view.”

Falling star

On the flipside, the Galaxy Resources Limited (ASX: GXY) share price came crashing back to earth after Credit Suisse downgraded it to “neutral” from “outperform”.

Shares in the lithium miner tanked 4.4% to 76 cents at the time of writing as a result.

The broker’s decision comes after it updated its estimates for Galaxy’s Mt Cattlin project, moderating production and the weak outlook for the commodity, which is made worse by the COVID-19 pandemic.

Nearer-term challenges

This is despite Germany and China increasing or extending subsidies for electric vehicles. Lithium is a key component used in the batteries of these automobiles.

But Credit Suisse believes it will take time for these subsidies to make an impact on the demand-supply of the commodity.

“Sustained demand growth will be needed to absorb supply chain inventory and latent production capacity as a precursor to improved pricing,” explained the broker.

“We estimate concentrate inventory held by [Australian] producers at ~130kt, but production utilisation of only ~55%, meaning there is >1.4Mt latent concentrate supply, equivalent to over half of 2019 global lithium production.”

More reading

• 3 star ASX 200 shares for all types of investors
• Broker survey points to more upside for JB Hi-Fi and these ASX stocks
• ASX 200 drops 1.15%: Fisher & Paykel Healthcare impresses, big four banks tumble
• Why Galaxy, Jumbo, Webjet, & Zip Co shares are sinking lower
• Fortescue Metals and 2 other ASX 200 shares to buy in a recession

Motley Fool contributor Brendon Lau 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.

The post The latest ASX recommendation changes by top brokers appeared first on Motley Fool Australia.

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The Australian Bureau of Statistics (ABS) has revealed which industries (and ASX shares) could see a bounce after COVID-19.

According to The Guardian reporting, the ABS is looking at Aussie spending habits during the coronavirus pandemic.

The latest survey, conducted in mid-June, is about what Australians are going to spend money on once restrictions are loosened again.

The Guardian quoted ABS head of Household Surveys, Michelle Marquardt, talking about people’s spending intentions: “a majority expected to increase their spending on recreational activities (74%), eating out (74%), private transport (73%), personal care (70%), childcare (66%) and public transport (55%).”

What does this mean for ASX shares?

Well it’s good to see that people do plan to spend more money when restrictions allow. It is spending that makes the economy tick.

Recreational activities could mean a lot of different things. There are plenty of shares this could be applicable to such as: Ardent Leisure Group Ltd (ASX: ALG), Experience Co Ltd (ASX: EXP), Crown Resorts Ltd (ASX: CWN), Event Hospitality and Entertainment Ltd (ASX: EVT), Ingenia Communities Group (ASX: INA), Star Entertainment Group Ltd (ASX: SGR), Sealink Travel Group Ltd (ASX: SLK) and Village Roadshow Ltd (ASX: VRL).

Eating out would probably benefit the food shares listed on the ASX like Domino’s Pizza Enterprises Ltd. (ASX: DMP), Collins Foods Ltd (ASX: CKF), Retail Food Group Limited (ASX: RFG) and Redcape Hotel Group Pty Ltd (ASX: RDC).

You’d think that private transport would be good for shares like Ampol Ltd (ASX: AMP), Viva Energy Group Ltd (ASX: VEA) and Waypoint REIT Ltd (ASX: WPR).

Increased spending on personal care would be good for shares like BWX Ltd (ASX: BWX), McPherson’s Ltd (ASX: MCP), Sigma Healthcare Ltd (ASX: SIG) and Australian Pharmaceutical Industries Ltd (ASX: API).

It also looks like it would be good news for childcare related shares like G8 Education Ltd (ASX: GEM), Think Childcare Ltd (ASX: TNK) and Arena REIT No 1 (ASX: ARF).

What about travel?

People are also asked about their travel intentions. The ABS survey revealed that 55% were planning to go on a domestic holiday while less than a third were planning an international holiday.

Of the people planning to take a domestic holiday, 20% intended to go within the following month and another 68% planned to go within the following six months. Most people aren’t thinking about an international holiday in the short-term. Of people thinking about an overseas holiday, 44% were thinking about doing it within six to 12 months and 31% were thinking about taking the holiday more than a year in the future.

Shares like Webjet Limited (ASX: WEB), Flight Centre Travel Group Ltd (ASX: FLT), Qantas Airways Limited (ASX: QAN) and Sydney Airport Holdings Pty Ltd (ASX: SYD) are obviously being disrupted by COVID-19 right now, but it’ll be pleasing for them that people are thinking about taking domestic holidays.

Do any of these ASX shares look like buys?

I think there’s a case for many of the shares hit by COVID-19 if you think about the long-term. Shares should be long-term investments. What happens over the next 12 months shouldn’t change your long­-term thinking about a business too much, unless it could go bust. I’m not sure about travel shares at today’s prices. The rising case numbers in Melbourne have hurt the prospect of the country being completely COVID-19 free this year, and may limit travel between Melbourne and the rest of the country for a bit longer.

I do believe that shares like BWX, McPherson’s, API and Ingenia could be ones to watch over the next couple of years. I’m quite excited by the prospect of the continuing international earnings growth for BWX and McPherson’s.

More reading

• Leading brokers name 3 ASX shares to buy right now
• Broker survey points to more upside for JB Hi-Fi and these ASX stocks
• ASX 200 drops 1.15%: Fisher & Paykel Healthcare impresses, big four banks tumble
• Why Galaxy, Jumbo, Webjet, & Zip Co shares are sinking lower
• 3 top ASX growth shares to buy for FY21

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited and Webjet Ltd. The Motley Fool Australia owns shares of EXPERNCECO FPO. The Motley Fool Australia has recommended Collins Foods Limited, Crown Resorts Limited, Domino’s Pizza Enterprises Limited, and Flight Centre Travel Group 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.

The post ABS reveals which industries (and ASX shares) may rebound hard after COVID-19 appeared first on Motley Fool Australia.

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At the small end of the Australian share market, I believe there are a good number of shares with the potential to grow into much larger entities in the future.

Three which I think ought to be on your watchlist right now are listed below. Here’s why I think they have very promising futures:

Clover Corporation Limited (ASX: CLV)

The first small cap to watch is Clover. It is a producer of ingredients such as omega-3 oils that go into infant formula, supplements, and baby food. Clover has been growing at a strong rate over the last few years thanks largely to increasing demand for ingredients from infant formula manufacturers. Pleasingly, I’m confident that its strong growth can continue over the coming years. Especially given favourable changes to ingredient requirements in a number of key markets.

Mach7 Technologies Ltd (ASX: M7T)

Another small cap share to add to your watchlist is Mach7. It is a medical imaging data management solutions provider which offers software that helps inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. Demand for its offering has been growing strongly, leading to Mach7 reporting a 158% increase in first half revenue to $9.1 million. Since then the company has announced the acquisition of Client Outlook. It is a leading provider of an enterprise image viewing technology and increases Mach7’s total addressable market from US$0.75 billion to US$2.75 billion.

MNF Group Ltd (ASX: MNF)

A final small cap to watch is MNF Group. It specialises in Voice over Internet Protocol (VoIP) technology, which is used to convert analogue audio signals into digital data that can be sent over the internet. Demand for VoIP services has been growing very strongly this year because of the pandemic and the work from home initiative. So much so, in April MNF Group was able to reaffirm its full-year guidance for earnings before interest, tax, depreciation and amortisation (EBITDA) of between $36 million and $39 million. 

More reading

• Why ResMed and these ASX shares have just hit new highs
• Fund managers have been buying these ASX shares
• 3 undervalued ASX growth companies to add to your portfolio
• Are these beaten down ASX shares in the buy zone?
• 3 exciting small cap ASX healthcare shares to watch

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 Clover Limited, MACH7 FPO, and MNF Group Limited. The Motley Fool Australia has recommended MACH7 FPO and MNF Group 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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One advantage of investing in your 20s is that you can afford to take higher risks.

This doesn’t mean you should start day trading your savings away, it just means you can invest in companies which might not be suitable for investors approaching retirement.

This is because if you’re in your 20s, you have a lot of time to recover your losses if things don’t go to plan.

Another advantage of investing in your 20s is the ability to benefit greatly from compounding.

For example, a single $10,000 invested in the share market and earning a 9% return would grow to be worth ~$23,700 in 10 years. Whereas in 40 years it would be worth a massive ~$315,000.

If you can then afford to invest $5,000 into the share market each year after year one (and earn the same return), you’ll have amassed a fortune of $2.15 million at the end of year 40.

That certainly is a nice nest egg to retire on, with only a very limited outlay each year.

With that in mind, here are three top ASX shares I think could be good options for investors in their 20s:

Afterpay Ltd (ASX: APT)

The first share that I think investors in their 20s ought to consider buying is this payments company. I believe it is well-positioned for growth over the next decade thanks to the growing popularity of buy now pay later with consumers and retailers and its international expansion opportunity.

Bubs Australia Ltd (ASX: BUB)

Another option to consider is Bubs. It is a goat’s milk-focused infant formula and baby food company which has been growing its top line at a rapid rate over the last couple of years. Pleasingly, I believe it still has a long runway for growth. Especially given its growing distribution footprint online in China and offline in Australian supermarkets. 

Pushpay Holdings Group Ltd (ASX: PPH)

A final option to consider is Pushpay. It is a provider of a donor management system, including donor tools, finance tools, and a custom community app to the faith sector. It has been growing at a rapid rate thanks to its leadership in a niche but lucrative market. I believe can continue its growth over the coming years thanks to its sticky product, the shift to a cashless society, and its industry-leading software.

More reading

• These are the 3 reasons I own Pushpay shares
• Is the Pushpay share price too high to buy?
• 3 top ASX growth shares to buy for FY21
• 10 high quality ASX shares to buy in FY 2021
• Invest $50 per day in ASX shares to generate a $50,000 passive income

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 BUBS AUST FPO and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended BUBS AUST FPO and PUSHPAY FPO NZX. 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.

The post Are you in your 20s? Here’s why I would buy these quality ASX shares appeared first on Motley Fool Australia.

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I follow a few investing groups on Facebook was recently asked on one why I owned shares in fast-growing payments company Pushpay Holdings Ltd (ASX: PPH).

It was a great question. The Pushpay share price has been rocketing this year, leaving some investors scratching their heads. Everyone invests for different reasons and for me Pushpay has the makings of a great long-term growth story.

These are my 3 reasons why I think Pushpay is a winner:

1. Pushpay is a ‘top dog’ in an important, emerging industry

Pushpay’s software allows church attendees to make donations through mobile payments. The company was one of the first in the contactless payments space and in transforming the way people give money. Growth exploded and there were signs early on that Pushpay was becoming a dominant player in the niche.

Becoming a ‘top dog’ has proven invaluable in 2020. The on-set of COVID-19 has made in-person church gatherings difficult. It has forced churches to find alternative ways to keep congregations connected, informed and the church funded. Pushpay’s perfect positioning helps to meet that need.

2. Pushpay has a strong switching cost moat

I want to own companies with strong economic moats and Pushpay, to me, is an example of a company with high switching costs.

It becomes a time-consuming and disruptive process to change to a competing product once customers and the congregation are set up with the software and app. I think this sustainable advantage will help Pushpay retain customers and produce high rates of return over a long period.

3. The business has a history of superb execution

One of my initial arguments for owning Pushpay shares was that it was led by Co-founder and CEO, Chris Heaslip. A visionary leader, Heaslip had a history of delivering on the aggressive goals set for the company. Imagine my nervousness when both Chris Heaslip and fellow co-founder, Eliot Crowther exited the business in short order, selling down significant proportions of their shareholdings!

Yet, even in the face of such massive management upheavals, the business has continued to thrive. To me, this is evidence of an extremely robust business model.

Peter Lynch has a quote that says “Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it.” Pushpay is certainly not being run by idiots, but having a highly effective business model means the company has escaped the ‘key person risk’ which can be common to start-ups.  

Foolish takeaway

My thesis for owning Pushpay shares centred around it being an early mover in an important, emerging industry with a strong economic moat. But the business model has proven to be incredibly robust and sturdy enough to endure a storm of management changes. In my view, these are markers of a great business and the type of companies I want to own in my portfolio.

More reading

• Are you in your 20s? Here’s why I would buy these quality ASX shares
• Is the Pushpay share price too high to buy?
• 10 high quality ASX shares to buy in FY 2021
• Why Xero and these ASX tech shares just hit record highs
• 3 high quality ASX shares I would buy if there were another market crash

Regan Pearson owns shares of PUSHPAY FPO NZX. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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 Auteco Minerals Ltd (ASX: AUT) share price is flying today after the gold explorer released its maiden JORC Resource for its flagship project.

At the time of writing, Auteco Minerals shares have skyrocketed 100% to 16 cents apiece. 

About Auteco Minerals

Auteco Minerals is an emerging mineral exploration company focused on advancing high-grade gold resources at the Pickle Crow Gold Project.

The Pickle Crow project is located in the Uchi sub-province of Ontaria, Canada. The province hosts major projects such as Evolution Mining Ltd (ASX: EVN)’s 25-million ounce Red Lake gold complex, Newmont’s Musselwhite gold mine (5.7 million ounces), and First Mining’s Springpole project (4.7 million ounces).

The Pickle Crow deposit was originally discovered in the early 1930s and commenced commercial production in 1935. Operating until 1966, the mine produced 1.5 million ounces of gold at an average grade of 16 grams per tonne (g/t) gold.

What’s moving the Auteco share price?

This morning, Auteco announced a maiden JORC 2012-compliant inferred resource of 830,000 ounces of gold at 11.6g/t gold for its Pickle Crow project.

The resource is based on a review of the existing data at the project, including previous non-JORC estimates, and runs from the surface immediately adjacent to existing underground and surface infrastructure.

The company noted that mineralisation remains open on all lodes along strike and at depth.

“This maiden JORC Resource, which has been independently calculated, confirms Pickle Crow is a significant, high-grade deposit with immense growth potential,” said executive chair Ray Shorrocks.

Auteco started its maiden drilling program at Pickle Crow last month. Since then, nine holes for 2,079 metres have been completed, with all assays pending analysis.

What now?

Based on visually-encouraging observations from the first few drill holes, Auteco has added a second drill rig and increased the initial drill program from 5,000 metres to 10,000 metres.

“This is just the beginning of work at Pickle Crow,” said Mr Shorrocks.

Looking forward, Mr Shorrocks said the company’s active exploration has three goals:

1. Adding geological confidence to already identified areas of mineralisation that can be brought into the resource inventory;
2. Extensions to the current known resources; and
3. New discovery through step out exploration.

Auteco Minerals shares last traded at 16 cents apiece, which gives the company a current market capitalisation of around $210 million.

More reading

• Are you in your 20s? Here’s why I would buy these quality ASX shares
• These are the 3 reasons I own Pushpay shares
• 3 star ASX 200 shares for all types of investors
• Microsoft is giving up on retail
• Here are 2 easy ways to invest in quality international shares on the ASX

Motley Fool contributor Cathryn Goh 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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