Tag: Motley Fool

  • Why is the Block share price sliding today?

    a young man sits on the floor with his back against a sofa hunched over his phone in one hand and his other hand on top of his head as though he is seeing bad news as his face looks sad and anguised.a young man sits on the floor with his back against a sofa hunched over his phone in one hand and his other hand on top of his head as though he is seeing bad news as his face looks sad and anguised.

    The Block Inc (ASX: SQ2) share price is in the red today. Block shares are currently swapping hands at $115.12, a 3.45% fall.

    For perspective, the S&P/ASX 200 Index (ASX: XJO) is 0.36% in the green at the time of writing.

    Let’s take a look at what could be impacting the Block share price today.

    US listing slides

    Block shares may be down, but it is not the only buy now, pay later (BNPL) ASX share to slide today. The Openpay Group Ltd (ASX: OPY) share price is down 6.35%, Sezzle Inc (ASX: SZL) shares have dropped 2.17%, and the Zip Co Ltd (ASX: ZIP) share price is descending 0.53%. Meanwhile, Beforepay Group Ltd (ASX: B4P) shares are climbing 1.27%. The S&P/ASX All Technology Index (ASX: XTX) is falling 1.2% today.

    Block’s ASX share price appears to be following in the footsteps of the company’s US listing. Block Inc (NYSE: SQ) fell 5.29% on the New York Stock Exchange on Monday.

    Daiwa Securities cut the price target on Block’s US listing to $100 from $170. This is still 25% more than the current share price of $79.70. Further, Daiwa relegated the share from a “strong buy” to “buy”.

    Block recently reported a 22% fall in revenue to US$3.96 billion. However, gross profit jumped 34% year on year to US$1.29 billion. The company also reported a positive start to the second quarter of this year.

    Block listed on the ASX for the first time in February after acquiring Afterpay.

    Block share price snapshot

    The Block share price has descended 35% on the ASX since it listed, while it is down 32% in the past month alone. In the last week, Block shares have slumped by 14%.

    For perspective, the benchmark ASX 200 index has dropped nearly 5% in the year to date.

    Block has a market capitalisation of about $5 billion based on the current share price.

    The post Why is the Block share price sliding today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Block right now?

    Before you consider Block, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Block wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. 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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  • Here’s why the Calix share price is leaping 6% on Tuesday

    Woman looks amazed and shocked as she looks at her laptop.Woman looks amazed and shocked as she looks at her laptop.

    Shares of Calix Ltd (ASX: CXL) are worming their way higher on Tuesday and are now trading 5.86% higher from the open. At the time of writing, the Calix share price is $7.04. Earlier it soared to $7.22, its highest mark in the past five days of trading.

    In wider market moves, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) has also spiked more than 1% into the green.

    What’s up with the Calix share price?

    Investors might be bidding up the Calix share price in response(ASX: CXL) are worming their way higher on Tuesday and now trade 5% higher from the open.”> to a company announcement this morning.

    Calix advised that it and project partner Pilbara Minerals Ltd (ASX: PLS) have been awarded a $20 million grant from the Australian Government under the Modern Manufacturing Initiative (MMI).

    This will be used to support the further development and demonstration of the proposed Mid-Stream Project at the Pilgangoora lithium project in Western Australia.

    The release said: “Grant funding will be used as part of a joint venture (JV) to be entered into between Pilbara Minerals and Calix for the progression of a demonstration-scale chemicals facility at the Pilgangoora Project — with the aim of producing lithium salts for global distribution via an innovative midstream ‘value-added’ refining process.”

    Speaking on the announcement that is likely fuelling the Calix share price today, managing director Phil Hodgson said the company was “very grateful” for the $20 million grant. He added:

    This world-first project aims to develop a low carbon process for lithium salt production into a rapidly growing market that is increasingly demanding more sustainable practices.

    The Calix and Pilbara Minerals teams are working very well together on this joint development and we look forward to progressing this important technology.

    What’s next for Calix?

    Both parties are reportedly hoping to finalise the JV agreement by “early Q3 2022”, prompting a final investment decision in late 2022 or early 2023.

    In the last 12 months, the Calix share price has spiked 184%. It has also gained 6% this year to date.

    The post Here’s why the Calix share price is leaping 6% on Tuesday appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Calix right now?

    Before you consider Calix, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Calix wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Why Meta Platforms stock just rose while Amazon sank

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    A woman works on her desktop and tablet, having a win with crypto.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    What happened

    On Monday, Meta Platforms (NASDAQ: FB) and Amazon (NASDAQ: AMZN) were tagged by a storied investment bank as stocks worthy of consideration. Interestingly, the pair went in different directions as investors reacted, with Meta shares eking out a slight (0.7%) gain in price on the day and Amazon stock falling by over 2%.

    So what

    Morgan Stanley (NYSE: MS) analyst Brian Nowak reiterated his overweight (read: buy) recommendation on Meta shares and said that Amazon has fine potential to become a very compelling buy.

    In his latest research note on Meta, he focused on the steps the social media pacesetter is apparently taking to save expenses. He said that if the company were to enact a hiring freeze, it could filter down into a 4% to 16% improvement in free cash flow (FCF) per share for all of 2022. Nowak added that he would still rate the company a buy without such moves; with them, Meta’s FCF improvement might be “significant.”

    He feels that Amazon has similar potential. He cited the giant retailer’s $6 billion annual spend on “other bets” as a prime candidate for reductions. “In our view,” he wrote, “AMZN still does not screen as being ‘inexpensive’ on FCF in this increasingly FCF focused market.” 

    Now what

    Of the two stocks, investors seem to be taking Nowak’s argument on Meta more to heart. He certainly makes an interesting point about Amazon, but at the moment, that company is clouded by an intensifying war of words between founder Jeff Bezos and the Biden administration over economic policy. The high-profile businessman escalated the fight on Monday, posting a pair of tweets that took aim at both its failed Build Back Better initiative and a rather sideways criticism of Amazon’s labor policies.

    No matter how wealthy or powerful, when an individual gets into a tussle with the government that individual tends to lose. It’s not surprising that Bezos’ spat with the current administration is dampening investor sentiment on his company. 

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    The post Why Meta Platforms stock just rose while Amazon sank appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

    *Returns as of January 12th 2022

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    Eric Volkman has positions in Meta Platforms, Inc. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon and Meta Platforms, Inc. The Motley Fool Australia has recommended Amazon and Meta Platforms, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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  • ‘Future-proof your portfolio’: experts pick 3 quality growth ASX shares to buy

    The hands of three people are cupped around soil holding three small seedling plants that are grouped together in the centre of the shot with the arms of the people extending into the edges of the picture.The hands of three people are cupped around soil holding three small seedling plants that are grouped together in the centre of the shot with the arms of the people extending into the edges of the picture.

    It’s almost a biblical test of faith for investors in growth shares this year.

    As inflation persists and interest rates rise, the market is abandoning businesses whose valuations rely on future earnings.

    But the fact remains rates still remain very low by historical standards and will still be even after multiple hikes this year.

    “There’s been so much hysteria around it. But you have to remember we’re only at 0.35% — and rates were at 2% before COVID hit,” TMS Capital portfolio manager Ben Clark told a Livewire video.

    “And the economy’s growing faster now than it was then.”

    Both Clark and Tribeca portfolio manager Jun Bei Liu indicated that stock prices will eventually catch up for quality businesses with positive and growing earnings.

    But the emphasis is on “quality”.

    “Our portfolio has been gradually moving towards more healthcare — some of the structural growth leaders. But remember, these companies have delivered growth for decades and they will continue to do so for the next few decades,” she said.

    “Soon the market will come back to those companies and realise that everywhere else growth is going to be hard to deliver.”

    Liu and Clark specifically named such 3 ASX shares that are tempting buys at the moment:

    ‘Future-proof your portfolio’

    CSL Limited (ASX: CSL) is “an easy one” for Liu.

    “Its earnings were hurt by the pandemic, simply because the blood collection was tough over the last few years,” she said.

    “In its most recent update, CSL actually talked [about] that — it’s actually picking up quite quickly, which means earnings will grow quite significantly after that short-term disruption.”

    The CSL share price has dropped more than 6.3% for the year so far, and 12.7% since November.

    With the cool-off in share price, Liu reckons CSL shares are “trading on a very reasonable multiple for the growth it is going to deliver”.

    “The company is fully funded, generating really great cash flow. It’s really helping you to future-proof your portfolio.”

    ‘One of the highest quality businesses’

    According to Clark, “most fundies” would count Xero Limited (ASX: XRO) as “one of the highest quality businesses on the exchange”.

    “But it’s been very expensive, and it’s just got significantly cheaper.”

    Indeed, he noted the accounting software provider has not reported any results this calendar year, yet its share price has plummeted 40%.

    “On face value, it still looks expensive, mainly because they pump about 80% of their revenue back into investment,” said Clark.

    “That’s the business that is at the tipping point of the overshoot… that could run hard if we start to see that play out.”

    ‘Mature’ growth businesses are the safest in this climate

    Seek Limited (ASX: SEK) is a “mature” growth business that has “a lot of certainty around the earnings”, according to Clark.

    “The multiple compression isn’t going to be too violent from this stage,” he said.

    “You still want to avoid businesses that need the share market to fund their future growth. That is not where you want to be at the moment.”

    Analysts at Firetrail noticed a pattern in the US that they suspect will be replicated in Australia.

    “Since COVID-19, the rate of voluntary resignations in the US has soared to its highest level in over 25 years, well above levels seen post-GFC,” they said in a memo to clients.

    “This trend will benefit a company like Seek, who is a beneficiary of higher labour force turnover.”

    The Seek share price has lost more than 25% since the start of the year.

    The post ‘Future-proof your portfolio’: experts pick 3 quality growth ASX shares to buy appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

    *Returns as of January 12th 2022

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    Motley Fool contributor Tony Yoo has positions in CSL Ltd. and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended SEEK Limited. 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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  • Could the Tyro share price be on the comeback trail?

    surprised shopper, unexpected news, person at computer with payment card,

    surprised shopper, unexpected news, person at computer with payment card,After yesterday’s falls, the Tyro Payments Ltd (ASX: TYR) share price is enduring another slight dip so far this Tuesday. At the time of writing, Tyro Payments shares are down 0.46% at $1.08 each.

    It’s been a rough time for this payment terminal provider recently, no way around it. This is a company that is down more than 62% in 2022 so far, and down more than 70% over the past year, after all. We are a long way from the company’s 52-week high of $4.39 a share.

    But since the new 52-week low of 99 cents per share that Tyro hit last Thursday, the company is now up more than 10%. So could this mean that Tyro Payments shares are on the comeback trail?

    Tryo has had a rough time to be sure. The payments company has not escaped from the savage selling that many ASX tech shares have seen in recent weeks. That’s despite Tyro reporting some solid growth numbers for the first half of FY2022 back in February. These included a 30.6% increase in transaction value to $15.8 billion, as well as a 29.9% rise in revenues to $149.2 million.

    Tyro has also been reporting a weekly COVID trading update to investors. The most recent of these was released yesterday. It showed that Tyro’s transaction volumes over April came in at $3.216 billion, a 43% increase on the $2.246 billion the company recorded in April 2021. For May year to date, it had recorded $29.07 billion in transactions, a 35% increase from the previous year’s $21.56 billion.

    Is the Tyro share price going to bounce back?

    So what’s next for Tyro Payments?

    Well, as my Fool colleague Tristan covered back in March, brokers Ord Minnet and Morgans both rated Tyro shares as a buy following the release of its half-year earnings back in February. Even though both brokers noted that “margins and costs were worse than expected” in these results, they are both still expecting to see growth from Tyro going forward.

    So that’s what two ASX brokers reckon. But only time will tell if the Tyro share price has finally turned a corner on its recent woes.

    At the current Tyro share price, this ASX tech share has a market capitalisation of $558.6 million.

    The post Could the Tyro share price be on the comeback trail? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Tyro Payments right now?

    Before you consider Tyro Payments, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Tyro Payments wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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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  • Oz Minerals share price rallies on potential $200m acquisition

    Three satisfied Whitehaven coal miners with their arms crossed looking at the camera proudlyThree satisfied Whitehaven coal miners with their arms crossed looking at the camera proudly

    The OZ Minerals Limited (ASX: OZL) share price jumped nearly 2% in early trade on news it has an option over what could be Australia’s largest undeveloped open pit copper-gold deposits.

    Management announced it had signed a binding term sheet with explorer Havilah Resources Ltd (ASX: HAV).

    The term sheet gives OZ Minerals the option to acquire 100% of the Kalkaroo project. It also sets the basis for a strategic partnership between the miners in the prospective Curnamona Province in South Australia.

    The OZ Mineral share price isn’t the biggest winner

    The OZ Minerals share price rallied to a high of $21.85 before settling down to trade 0.75% higher at $21.62 at the time of writing.

    But it’s the Havilah share price that saw most of the action. It surged 164% to 45 cents this morning. At the time of writing, it’s settled at 32 cents a share, 88% higher. The term sheet is material to the mining junior as OZ Minerals will pay $1 million a month to Havilah for the period of the term sheet.

    Half of the payment will be used by the explorer to identify and advance nearby exploration opportunities in the Curnamona Province.

    Details of the term sheet

    Further, OZ Minerals is committed to spending another $76 million on exploration at the Kalkaroo project and on partnership activities.

    In return, the S&P/ASX 200 Index (ASX: XJO) miner has up to 18 months to decide if it wants to buy the Kalkaroo project for $205 million.

    Earnout component pushes acquisition cost to a max of $135m

    It will have to pay Havilah another $65 million upon a 30% uplift in Kalkaroo’s Measured and Indicated Resource estimate. This is as well as a copper price-linked contingent payment in each year of production up to a maximum cumulative amount of $135 million.

    Kalkaroo’s Mineral Resource estimate of 245Mt @ 0.45% Cu and 0.39g/t Au was announced by Havilah in 2018.

    OZ Minerals chief executive Andrew Cole said:

    The agreement provides a low-cost option and flexibility to study the Kalkaroo project, while retaining the optionality to acquire 100% of the project for a fixed acquisition price together with any deferred contingent consideration.

    We believe our approach of taking projects from an early study phase through development and into operation can unlock significant value for our stakeholders, something we have demonstrated with Carrapateena, now in its third year of operation, and continue to show with West Musgrave as we approach a final investment decision on the project later this year.

    OZ Minerals share price still in the red

    Shareholders will be hoping that the deal will help turn sentiment towards the OZ Minerals share price. Its shares have fallen more than 12% over the past 12 months while the ASX 200 has gained around 1%.

    Meanwhile, the Havilah share price has been saved by today’s jump. Its shares were wallowing around a more than one-year low but are now around 17% ahead over a 12-month period.

    The post Oz Minerals share price rallies on potential $200m acquisition appeared first on The Motley Fool Australia.

    Should you invest $1,000 in OZ Minerals right now?

    Before you consider OZ Minerals, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and OZ Minerals wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    Motley Fool contributor Brendon Lau has positions in OZ Minerals Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Woodside share price rises after merger clears final regulatory hurdle

    An oil refinery worker stands in front of an oil rig with his arms crossed and a smile on his face as the Woodside share price climbs todayAn oil refinery worker stands in front of an oil rig with his arms crossed and a smile on his face as the Woodside share price climbs today

    The Woodside Petroleum Limited (ASX: WPL) share price is lifting as shareholders get ready to go to the polls on the company’s planned merger with BHP Group Ltd (ASX: BHP)’s oil and gas portfolio.

    And, in the nick of time, the merger has received its final regulatory tick of approval.

    At the time of writing, the Woodside share price is $30.97, 1.54% higher than its previous close.

    For context, the S&P/ASX 200 Index (ASX: XJO) is also up 0.3% on Tuesday.

    Let’s take a closer look at what’s going on with the oil and gas giant this week.

    The latest on Woodside’s major merger

    The Woodside share price is in the green on Tuesday. Its gains come after the company announced the National Offshore Petroleum Titles Administrator has given its merger with BHP’s petroleum assets the thumbs up.

    The regulator ­– a facet of the Australian Government – administers and manages petroleum and gas titles in Australian waters.

    Now all that’s left to do is to put the merger to a shareholder vote. Woodside investors will get their say on the plan at the company’s annual general meeting on Thursday.

    If approved, the merger is expected to be completed on 1 June.

    Fortunately for ASX energy fans, the Woodside share price isn’t alone in the green today.

    Right now, the S&P/ASX 200 Energy Index (ASX: XEJ) is recording a 1.8% gain.

    It’s being led by the Beach Energy Ltd (ASX: BPT) share price. It is recording a 4.4% lift.

    Meanwhile, shares in Whitehaven Coal Ltd (ASX: WHC), Santos Ltd (ASX: STO), and Worley Ltd (ASX: WOR) are up 2.95%, 2.29%, and 2.91% respectively.

    The momentum comes after many energy commodity prices increased by 2% to 3% on Monday.

    Brent crude oil lifted 2.4% to US$114.24 a barrel while US Nymex crude oil rose 3.4% to US$114.20 a barrel, according to CommSec. Meanwhile, the price of thermal coal increased 2.5% to US$402.50 a tonne.

    Woodside share price snapshot

    Today’s gains included, the Woodside share price is 37% higher than it was at the start of 2022.

    It has also gained nearly 38% since this time last year.

    The post Woodside share price rises after merger clears final regulatory hurdle appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Woodside right now?

    Before you consider Woodside, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Latin Resources share price races 9% higher on lithium update

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

    The Latin Resources Ltd (ASX: LRS) share price is having a strong day on Tuesday.

    In morning trade, the lithium explorer’s shares are up 9.5% to 11.5 cents.

    Why is the Latin Resources share price racing higher?

    Investors have been bidding the Latin Resources share price higher today following the release of an update on the company’s Salinas Lithium Project in Brazil.

    According to the release, the company has secured an additional highly prospective tenement, expanding the Salinas Lithium Project’s footprint to the east to cover additional strike extensions of the regional prospective host stratigraphy.

    Latin Resources has achieved this through an exclusive and binding 24-month option agreement over the new concession from Mineracao Salinas. This allows it to acquire a 100% interest in this tenement.

    Positively, the Lajinha tenement is highly prospective, with known outcropping spodumene bearing pegmatites. Its addition expands Latin Resources’ strategic land package to over 6,230 hectares in the Salinas lithium corridor.

    Management commentary

    Latin Resources’ Managing Director, Chris Gale, was very pleased with the development. He commented

    We are very pleased to have secured the Lajinha tenement area, we continue to expand our foothold in this developing regional lithium pegmatite field. Our preliminary reconnaissance mapping and outcrop sampling of this area has confirmed the presence of spodumene pegmatites. Our regional mapping team will now complete a more systematic survey to better understand the extent of the known pegmatite system and select initial drill sites.

    Mr Gale also spoke positively about the company’s ongoing drilling plans, which will support its first maiden JORC Resource at the Salinas Lithium Project. He adds:

    With resource definition drilling underway at our main Bananal Valley area, first pass drilling underway at our Monte Alto area, first pass mapping and sampling completed at our Salinas South area; and now the initial systematic work to commence at the new Lajinha tenement – this provides the Company with a full project lithium development pipeline in the Salinas Region.

    Now the company has made a significant new lithium discovery, this strategic expansion approach to our exploration is critical for long-term success of developing our first maiden JORC Resource.

    Following today’s gain, the Latin Resources share price is up almost 300% in 2022.

    The post Latin Resources share price races 9% higher on lithium update appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Latin Resources right now?

    Before you consider Latin Resources, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Latin Resources wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Why is the A2 Milk share price falling today?

    Three guys in shirts and ties give the thumbs down.

    Three guys in shirts and ties give the thumbs down.

    The A2 Milk Company Ltd (ASX: A2M) share price is trading lower on Tuesday morning.

    At the time of writing, the struggling infant formula company’s shares are down 0.5% to $4.11.

    Why is the A2 Milk share price falling?

    The weakness in the A2 Milk share price on Tuesday appears to have been driven by news of the sudden exit of one of the company’s executives.

    According to the release, Race Strauss has resigned from his position of Chief Financial Officer (CFO) to take some personal leave before pursuing other interests.

    Mr Strauss will step down from his role immediately but will remain available to support the company through the FY 2022 year-end process and to assist with an orderly transition to a new CFO.

    Though, A2 Milk has acted extremely fast and has found a replacement already. The company has appointed David Muscat as its new CFO, effective in October.

    Mr Muscat is currently the CFO of DIM Brands International (formerly Hanes Europe Innerwear), and prior to this was the CFO of Hanes Australasia.

    In the meantime, the company’s current Group Head of Finance – FP&A and Risk, Mark Sherwin, will assume the position of interim CFO from today until David Muscat commences in the role.

    Management commentary

    A2 Milk’s Managing Director and CEO, David Bortolussi, commented:

    Race has been a key member of the Executive Leadership Team and has played an important role in our turnaround journey and navigating the business through the pandemic. During his tenure, Race has built capability in the Finance and IT functions, including the implementation of a new ERP system. I would like to express my thanks to Race for his dedication and contribution to a2MC, and we wish him all the best in his future endeavours.

    I am delighted to have the opportunity to work with David Muscat again and to welcome him to a2MC. He is a capable and experienced finance and people leader, who I am sure will make a valuable contribution to our strategy and execution going forward. I also want to thank Mark Sherwin for stepping into the Interim CFO role. Mark is highly regarded in our company and known to many of our investors through his previous Investor Relations role.

    The post Why is the A2 Milk share price falling today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in A2 Milk right now?

    Before you consider A2 Milk, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and A2 Milk wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. 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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  • Why is the Pilbara Minerals share price climbing today?

    a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.

    The Pilbara Minerals Ltd (ASX: PLS) share price is making early headway today, up by 2.3% in early trade at $2.66.

    Investors might be responding to a company announcement out of the lithium producer’s camp today outlining a government grant it had received.

    In wider market moves, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) has also spiked more than 1% from the open today.

    What was announced?

    Pilbara advised that, along with its project partner, Calix, it has been awarded a $20 million grant from the Australian Government.

    The grant falls under the Modern Manufacturing Initiative (MMI) — Manufacturing Translation Stream. It will be used to support the further development and demonstration of the proposed Mid-Stream Project at the Pilgangoora lithium project.

    Speaking on the announcement, Pilbara Minerals’ managing director and CEO Ken Brinsden said the company is “very pleased to be able to access the Australian Government’s MMI grant funding”.

    He said:

    The Mid-Stream Project is expected to facilitate waste minimisation in key end-use markets, which decarbonises the hard-rock lithium supply chain and creates competitive “value-added” products that can serve global markets directly.

    We are pleased to be partnered with Calix and their fantastic team, to build-on the technology and ultimately market it around the world.

    The company said the funding will be used as part of a joint venture (JV) between Pilbara Minerals and Calix for the progression of a demonstration-scale chemicals facility at the Pilgangoora project. This aims to produce lithium salts for global distribution via an innovative midstream “value-added” refining process.

    What’s next?

    Pilbara Minerals notes that it and Calix have moved through negotiations in relation to the JV to develop a small-scale demonstration plant.

    Both parties are hoping to sign in early Q3 2022, with a final investment decision on the project to be decided in late 2022 to early 2023.

    In the last 12 months, the Pilbara Minerals share price has spiked almost 150%. However, it is down by 16% so far in 2022.

    The post Why is the Pilbara Minerals share price climbing today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Pilbara Minerals right now?

    Before you consider Pilbara Minerals , you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pilbara Minerals wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of January 13th 2022

    More reading

    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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