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An analyst has expressed concern about mortgage applications lodged with Australia and New Zealand Banking Group Ltd (ASX: ANZ).

ANZ shares closed at $27.63 on Tuesday, a 0.54% fall. For perspective, the S&P/ASX 200 Financials Index (ASX: XFJ) finished 0.91% lower. The S&P/ASX 200 Index (ASX: XJO) also ended the session down 1.93%.

Let’s take a look at what this analyst had to say about ANZ.

Mortgage application concerns

A UBS mortgage survey found more than 50% of people applying for a new mortgage with the ANZ had inaccuracies on their applications, The Australian reported.

UBS analyst John Storey said:

We think this is particularly concerning, given ANZ’s persistent declines in mortgage market share, and the fact that 81 per cent of the 93 respondents who misrepresented their ANZ originated loan claim they were advised to do so by their banker.

However, an ANZ spokesman defended the company’s loan verification process, the Australian Financial Review reported. He said:

After several years of similar external reports about the quality of applications, our delinquency numbers have gone down, not up.

Our numbers are as good as, if not better, than our peers which provides a strong indicator of ANZ’s capacity to accurately verify loan applications

Citi analysts have recently rated ANZ shares as a buy with a price target of $30.75. This is 11% more than the current share price.

ANZ share price summary

The ANZ share price has slipped nearly 4% over the past 12 months, while it is 0.51% in the green year to date.

In the past month, ANZ shares have climbed 0.14% while they are up 0.84% in a week.

The bank has a market capitalisation of $77 billion based on the current share price.

The post Own ANZ shares? Here’s what this top broker finds ‘particularly concerning’ appeared first on The Motley Fool Australia.

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• Own ANZ shares? Here’s why this broker is predicting ‘revenue headwinds’
• Do CBA shares offer the highest big bank dividend yield?
• Is the ANZ share price a smart idea for dividend income?

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 Bruce Jackson.

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There are a wide range of exchange-traded funds (ETFs) available to Aussie investors.

Today we look at an ASX ETF that tracks a specific industry, namely healthcare. And we look at why two financial pros list it as a ‘buy’.

A defensive ASX ETF

In an ageing world with the global pandemic still very much in circulation, healthcare shares have received plenty of attention these past two years.

Aussie investors looking for exposure to international healthcare stocks with a single investment may wish to look into the BetaShares Global Healthcare ETF (ASX: DRUG).

This ASX ETF is invested in a wide range of international healthcare companies. Some 45% of them are involved in pharmaceuticals, with 19% focused on healthcare equipment, and 11% in the biotechnology space.

DRUG’s top four holdings are UnitedHealth Group Inc (NYSE: UNH), Johnson & Johnson (NYSE: JNJ), AbbVie Inc (NYSE:ABBV) and Pfizer Inc (NYSE: PFE).

Year-to-date, this ASX ETF is down 2.4%. That compares to a 3.9% loss posted by the All Ordinaries Index (ASX: XAO) so far in 2022.

Why these two fundies list DRUG as a buy

Speaking with Livewire, Felicity Thomas from Shaw and Partners said DRUG was an ASX ETF to buy.

According to Thomas:

If you think we’re going into a recessionary environment, you want to tilt your portfolio to be a little bit more defensive. Healthcare is defensive and we’ve got an ageing population globally, so I think it’s a really good long-term play

Now we’re not looking at an imminent recession here in Australia just yet. But a growing cohort of economists is beginning to predict that the United States could be heading down that road sooner than later. And where the world’s biggest economy goes, most others tend to follow.

Steering clear of potential recessions, Ben Nash from Pivot Wealth also listed this ASX ETF as a buy, citing the immense expenditures going into healthcare globally.

Nash said:

I think that we’re seeing huge amounts of money being spent on healthcare in Australia and globally. The US is one of the biggest global markets and healthcare costs are pretty staggering over there. I think that plus the secondary exposure to the property market makes this one a solid performer for the medium to long term.

Investors looking for an ASX ETF to add to their portfolios for the longer term may want to run their slide rule across DRUG.

The post A defensive ASX ETF for a recessionary environment: experts appeared first on The Motley Fool Australia.

More reading

• Why Chalice Mining, EML Payments, Mineral Resources, and South32 shares are tumbling
• Is the IGO share price cheap after dropping 9% in a week?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• What’s happening to ASX nickel shares today?
• 3 ASX 300 shares defying the carnage to reach new 52-week highs

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Johnson & Johnson. 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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In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. At the time of writing, the benchmark index is down 2% to 7,323.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 10% to $6.37. Investors have been selling this mineral exploration company’s shares amid broad weakness in the resources sector due to softening commodity prices and the release of its quarterly update. The latter spoke about delays to the commencement of off-track drilling in the Julimar State Forest.

EML Payments Ltd (ASX: EML)

The EML Payments share price is down a massive 38% to $1.67. This follows the release of a trading update this morning which revealed that the payments company has downgraded its earnings guidance. This followed a tough third quarter, which saw EML report a 22% decline in underlying net profit after tax and amortisation.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price is down 9.5% to $54.94. As well as the aforementioned weakness in the resources sector, this morning Mineral Resources announced plans to raise US$1 billion. The mining and mining services company will raise the funds via a senior unsecured notes offering. Mineral Resources intends to use the cash proceeds from the offering for general corporate purposes, including for capital expenditures.

South32 Ltd (ASX: S32)

The South32 share price has sunk 7.5% to $4.47. This follows the release of the mining giant’s quarterly update, which appears to have fallen short of expectations. South32 also revealed an increase to its operating unit cost guidance for FY 2022 due partly to inflated input costs.

The post Why Chalice Mining, EML Payments, Mineral Resources, and South32 shares are tumbling appeared first on The Motley Fool Australia.

More reading

• South32 share price sinks 8% amid rising cost guidance
• Why is the Mineral Resources share price sinking 9% today?
• ASX 200 stocks dive 2.4% in worst trading day since Ukraine crisis hit
• EML share price crashes 35% amid guidance cuts
• 5 things to watch on the ASX 200 on Tuesday

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. owns and has recommended EML Payments. The Motley Fool Australia owns and has recommended EML Payments. 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 IGO Ltd (ASX: IGO) share price has slipped 6% in Tuesday’s session and is $12.755 at the time of writing.

After climbing amid a global resources boom in 2022, the IGO share price has fallen from a high of $14.17 just five days ago.

Joining IGO is the S&P/ASX 300 Metals & Mining Index (ASX: XMM). It’s also slipped 5.35% in today’s session and 11% this past week. IGO is down 9% over the same period

Is the IGO share price cheap?

The rally in commodities, plus IGO’s recent bid to secure Western Areas Ltd (ASX: WSA), has seen some volatility in the IGO share price in recent weeks.

After the miner sweetened its takeover offer to $3.87 a share, up from an earlier $3.36, analysts at RBC Capital Markets noted they saw “strategic rationale” in the decision.

In a recent note, RBC Capital analyst Kaan Peker noted “there is strategic rationale with consolidating Western Australia nickel sulphide producers”.

Peker reckons the offer – that values Western Areas at nine times next year’s earnings before interest, tax and amortisation (EBITDA) projections – could be accretive for IGO’s own pre-tax earnings as early as FY22.

Meanwhile, analysts at JP Morgan recently retained their overweight rating on IGO and value the company at $17.40 per share.

“IGO [is] a one-stop stock for EV raw materials,” the broker mentioned in a recent note. “Our overweight rating reflects the upside relative to our DCF valuation, high earnings growth and growing FCF yield.”

Earlier, the broker had mentioned IGO was well-positioned to take on the Western Areas acquisition, finishing 1H FY22 with $570 million in cash on its balance sheet.

JP Morgan also took note of IGO’s latest earnings that showed capital expenditures (capex) guidance for FY22 is high at $250-$300 million. That’s more than three times what the broker was budgeting.

“Management called out a number of projects to enable further expansions, but the spend is not on the CGP3/4/5 expansions themselves,” the broker wrote on IGO’s capex guidance.

“[The Greenbushes mine] costs of $388/tonne included royalties of $146/tonne, which when backed out showed costs were steady [quarter-on-quarter].”

The consensus of analyst estimates values IGO at $13.25 a share, according to Bloomberg data. Judging from that valuation, and depending on one’s own valuation, IGO could be cheap with the pullback.

From the list of broker coverage, 53% rate it a buy whereas 30% say it’s a hold right now. Together, that’s 83% saying to either buy or hold onto IGO shares at present.

IGO share price snapshot

In the last 12 months, the IGO share price has climbed 77% and is up 11% for the year, even with this most recent pullback.

The company has a market capitalisation of $9.6 billion at the current share price.

The post Is the IGO share price cheap after dropping 9% in a week? appeared first on The Motley Fool Australia.

More reading

• What’s happening to ASX nickel shares today?
• Here are the top 10 ASX mining companies by market cap
• Why IGO, Lake Resources, Regis Resources, and ResApp shares are charging higher
• ASX 200 midday update: IGO increases Western Areas offer, BlueScope makes US acquisition
• IGO share price charges higher after lifting its Western Areas takeover offer

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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has kicked off the trading week by getting up on the wrong side of the bed, it seems. The ASX 200 has had a clanger so far today, having fallen by 1.98% and is sitting at just over 7,300 points.

But rather than dwelling on that, let’s delve a little deeper into the shares currently topping the ASX 200’s volume charts, according to investing.com.

The 3 most-traded ASX 200 shares by volume this Tuesday

Fortescue Metals Group Limited (ASX: FMG)

Our first ASX 200 share up today is the iron ore miner Fortescue. Twiggy’s resources giant has had a hefty 26.95 million of its shares change hands as it currently stands. With no news out from Fortescue today, we can assume that the nasty share price selloff this company has endured so far is responsible for this elevated trading volume. At the present time, Fortescue shares are down by almost 7% at $19.74. This comes after the iron ore price itself was heavily sold off in recent days.

Pilbara Minerals Ltd (ASX: PLS)

Another resources share is next up today in ASX 200 lithium producer Pilbara Minerals. This Tuesday has seen a sizeable 27.43 million Pilbara shares bought and sold thus far. There have also been no major news or announcements out of Pilbara itself today. As such, it again looks as though this high volume of shares trading is a result of the company’s share price itself. Like Fortescue, Pilbara has also had some nasty share price movements today. The company is currently down by 5.23% at $2.62 a share. 

Paladin Energy Ltd (ASX: PDN)

ASX 200 uranium share Paladin is our final and most traded share of the day as it presently stands. This Tuesday has seen a whopping 28.19 million Paladin shares find a new home so far. Once more, we seem to have a large share price fall to thank for this volume (it really hasn’t been a good day for ASX mining shares). At the time of writing, the Paladin Energy share price has lost 2.12% and is sitting at 81 cents. 

The post Here are the 3 most heavily traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

More reading

• Why is the Endeavour share price escaping unscathed on Tuesday?
• Is the Zip share price set to sink below the $1 mark for the first time since 2018?
• Sinking iron ore price sends ASX 200 mining shares tumbling
• ASX 200 stocks dive 2.4% in worst trading day since Ukraine crisis hit
• The Fortescue share price is falling 6% on Tuesday. Here’s why

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 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 nickel shares are sliding on Tuesday amid a tough day on the markets for mining companies.

Nickel shares on the ASX include Nickel Mines Ltd (ASX: NIC), Mincor Resources NL (ASX: MCR), Panoramic Resources Ltd (ASX: PAN), and IGO Ltd (ASX: IGO). The S&P/ASX 200 Resources Index (ASX: XJR) is 5.14% lower at the time of writing.

Let’s take a look at why these shares are suffering today.

Nickel prices fall

The Nickel Mines share price is down 3.8% today and, at the time of writing, Mincor is trading 4.12% lower. Meanwhile, IGO is 6.45% in the red while Panoramic Resources is down 4.48%.

It seems volatility in world nickel markets is returning with the price of nickel on the London Metal Exchange “moving erratically”, Trading Economics reported.

The nickel price fell 1.4% in a day on global markets to US$32,607 per tonne. Shanghai’s most active nickel contract also dropped more than 3%, according to a report cited by NAB trade.

This is in stark contrast to early March when the nickel price briefly hit more than US$100,000 per tonne. This led to the London Metal Exchange (LME) freezing trading of the commodity for a few days. In the past year, the nickel price has skyrocketed 96%.

On Friday, Mincor Resources reported it is on the verge of reaching nickel producer status. The company’s first nickel concentrate is expected in the June quarter. Mincor has cash in the bank of $84.4 million.

Meantime, Nickel Mines will release its quarterly results on Thursday 28 April.

Share price recap

The Nickel Mines share price has dropped more than 11% in the past year while Mincor has surged 136%. The Panoramic share price has also soared. It’s 117% higher in the past year while IGO has rocketed 77%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned 4% in the past year.

The post What’s happening to ASX nickel shares today? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX mining companies by market cap
• How has the Nickel Mines share price been performing since the big squeeze?
• All that glitters isn’t gold: Here are the worst performing ASX mining shares of the quarter
• Why IGO, Lake Resources, Regis Resources, and ResApp shares are charging higher
• ASX 200 midday update: IGO increases Western Areas offer, BlueScope makes US acquisition

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 Bruce Jackson.

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The market has taken a turn for the worst today, with the S&P/ASX 300 Index (ASX: XKO) following its more recognisable peers into the red. But some ASX 300 shares are bucking the trend to not only record gains on Tuesday, but to surpass their highest point in more than a year.

Right now, the ASX 300 is down 1.94%. That’s comparable to the falls recorded by both the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) on Tuesday.

So, which ASX 300 shares are reaching long-forgotten highs today, and what’s inspiring them to trade in the green? Let’s take a look.

3 ASX 300 shares hitting new 52-week highs

Irongate Group Ltd (ASX: IAP)

The Irongate share price hit a new all-time high of $1.94 in intraday trade on Tuesday.

Interestingly, there’s been no news from the real estate investment trust (REIT) to explain its buoyancy.

However, the company is currently in the throws of a takeover proposal from a partnership involving Charter Hall Group (ASX: CHC).

The proposal – which has been given the thumbs up from Irongate’s board ­– will see the ASX 300 company’s shareholders receiving $1.90 of cash per share they own.

Shareholders will also be eligible for Irongate’s upcoming dividend up to the value of 4.67 cents per share.

Eclipx Group Ltd (ASX: ECX)

Fleet lease and management services provider, Eclipx is also in the green today.

In fact, the ASX 300 stock surged 2.8% to trade at $2.88 at its intraday high – the highest it’s been since 2018.

There’s been no news from the company lately. Though, its share price has gained nearly 34% year to date.

Hotel Property Investments Ltd (ASX: HPI)

Finally, rounding out the ASX 300 shares reaching new 52-week highs on Tuesday is Hotel Property Investments.

The REIT’s stock rose to $4.05 – a new all-time high ­– despite the broader market trading in the red today.

The last time the ASX heard news from the company was in February when it released its results for the first half of financial year 2022.

The post 3 ASX 300 shares defying the carnage to reach new 52-week highs appeared first on The Motley Fool Australia.

More reading

• How diversified is the Vanguard Australian Shares Index ETF?
• Vanguard Australian Shares ETF (ASX:VAS) plummets! What’s going on?
• Hoping to bag the next Vanguard Australian Shares Index ETF (ASX:VAS) dividend? Read this

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 owns and has recommended Hotel Property Investments 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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The S&P/ASX 200 Index (ASX: XJO) is having a fairly awful start to this short week of trading. At the time of writing, the ASX 200 has lost a nasty 1.9% after falling by as much as 2.4% earlier this morning. But one ASX 200 blue chip share, in particular, seems to be escaping unscathed today. That would be the Endeavour Group Ltd (ASX: EDV) share price.

Endeavour is the alcohol and pubs company that was spun out of Woolworths Group Ltd (ASX: WOW) last year. It owns the Dan Murphy’s and BWS bottle shop chains, as well as Woolies’ old pub assets.

At the time of writing, the Endeavour share price is up a healthy 1,3% so far today. It goes without saying that that is a marked outperformance of the broader markets.

So what is sparing Endeavour shares from the fate of most of the other ASX 200 shares today?

Why is the Endeavour share price popping its cork today?

Well, it’s not entirely clear. There hasn’t been any news out of Endeavor out today. Or indeed since its quarterly trading update that was released last week. As my Fool colleague Brooke covered at the time, this saw Endeavour report a 2.1% slip in sales over the three months to 3 April 2022.

So it’s possible that today’s strong performance from Endeavour is a result of the company’s nature. As we reported with Woolworths earlier today, investors often flock to the ‘safety’ of consumer staples shares like Endeavour in times of market fear and selling pressure. Food, drinks and vices like alcohol tend to have a reputation as ‘recession-proof’ products. As such, many investors feel safer owning these kinds of companies in times of uncertainty – such as today’s market-wide selloff.

That could explain why other businesses in Endeavour’s consumer staples sector, such as Woolies, Coles Group Ltd (ASX: COL), Metcash Limited (ASX: MTS) and Treasury Wine Estates Ltd (ASX: TWE), are all doing far better than the ASX 200 today.

At the current Endeavour share price, this ASX 200 blue chip has a market capitalisation of $13.92 billion, with a dividend yield of 3.22%. 

The post Why is the Endeavour share price escaping unscathed on Tuesday? appeared first on The Motley Fool Australia.

More reading

• Is the Zip share price set to sink below the $1 mark for the first time since 2018?
• How is the Woolworths share price managing to defy today’s sell-off?
• 5 things to watch on the ASX 200 on Tuesday
• Top brokers name 3 ASX shares to sell next week
• These were the best performing ASX 200 shares last week

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 no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended Treasury Wine Estates 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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As any investor in the Zip Co Ltd (ASX: ZIP) share price would know, it’s been a fairly dismal year. Even though we’re still only in April, 2022 has so far seen Zip shares lose more than 75% of their value. If we stretch that period to February 2021, Zip is now down more than 91%.

But the losses have unfortunately accelerated today. At the time of writing, the Zip share price has lost another 1.36% and is now sitting at $1.085 a share. This comes after the buy now, pay later (BNPL) company hit a new 52-week low of just $1.04 a share earlier this morning. These latest falls follow Zip releasing its less-than-well received third-quarter update last week.

So given Zip’s recent share price trajectory, it might not be unreasonable to assume that the ASX’s largest BNPL share could have a share price under $1 in the near future. If that did happen, it would be the first time since late 2018 that Zip was priced at such a level.

So could that be what’s in store for Zip?

Zip shares: Future penny stock or buy today?

Well, anything’s possible, of course. But one ASX investing expert reckons Zip could have brighter days in front of it. As my Fool colleague James covered at the time, analysts at broker Citi reckon Zip shares could well go higher from here.

Citi currently has a neutral (high risk) rating on Zip shares. But the broker has also rated the company with a 12-month share price target of $2.15. That would be more than double the current share price.

Here’s some of what the broker said on Zip:

While TTV growth was slower than expected and bad debts in AU increased qoq, on balance we see the 3Q update as positive with customer growth in the US accelerating in spite of tightening of risk settings, net transaction margins improving and Zip reducing costs faster than expected…

While stronger-than-expected growth on the back of Enterprise merchant additions represents upside potential, we are Neutral/High Risk (2H) rated as we are concerned about the potential for bad debts to remain elevated and the impact to top line growth from cost reduction measures.

So no doubt investors will be hoping that a $2.15 share price becomes a reality for Zip over the next year. But we shall have to wait and see if this ASX BNPL share can turn its fortunes around.

The post Is the Zip share price set to sink below the $1 mark for the first time since 2018? appeared first on The Motley Fool Australia.

More reading

• Have ASX tech shares finally reached the bottom?
• 5 things to watch on the ASX 200 on Tuesday
• Is the Zip share price weakness a buying opportunity?
• Top brokers name 3 ASX shares to sell next week
• These were the best performing ASX 200 shares last week

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. owns and has recommended ZIPCOLTD FPO. 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 Lithium Plus Minerals Ltd (ASX: LPM) share price is trailblazing its debut on the ASX today. This comes after the lithium explorer provided an update in regards to its capital raise.

At the time of writing, Lithium Plus shares are up an astounding 188% to 72 cents.

Lithium Plus announces successful listing on ASX

In today’s statement, Lithium Plus advised it has successfully raised $10 million which reached the maximum targeted subscription amount in new equity funds.

Notably, Suzhou CATH Energy Technologies Co Ltd (CATH) conducted a $2.2 million cornerstone investment.

CATH is a subsidiary of CATL, the world’s largest electric vehicle battery manufacturer.

In total, 97 million Lithium Plus shares were listed at 25 cents apiece to eligible investors.

The register composition comprises 43% of board and management, 9% from CATH, and 48% making up “other” investors.

The raised funds allow the company to pursue exploration activities at its wholly-owned Bynoe Lithium Project in the Northern Territory.

The Bynoe Project is located adjacent to Core Lithium Ltd‘s (ASX: CXO) Finniss Lithium Project.

Lithium Plus stated that the Bynoe Project tenements are home to a similar geological setting to Finniss. Several of the key Bynoe prospects are located directly along strike from Core’s BP33 deposit.

Recent drilling at BP33 returned high-grade spodumene rich intersections including 57.35 metres at 1.83% Li2O and 51 metres at 1.63% Li2O.

Lithium Plus executive chairman, Dr Bin Guo commented:

We are delighted to have successfully reached this significant point in the Lithium Plus journey. The IPO process has provided a strong validation of the outright quality of the Bynoe Project, as recognised by all participating investors including our cornerstone IPO subscriber, CATH.

We now look forward to delivering upon the substantial potential of Bynoe and our other key tenements. That process commences in coming weeks with the planned start of drilling at the Lei and Cai Prospects. We are now simply excited to get started on aggressively exploring this world-class package of lithium ground.

More on the Lithium Plus

With operations based in the Northern Territory, Lithium Plus is focused on five projects within two highly prospective areas.

They include its flagship Bynoe Project and Wingate Project located in the Bynoe area, with the Barrow Creek, Spotted Wonder, and Moonlight Project situated in the Arunta province.

Based on today’s price, Lithium Plus commands a market capitalisation of roughly $31.67 million.

The post Lithium Plus Minerals share price explodes 180% on ASX debut appeared first on The Motley Fool Australia.

More reading

• Is the Zip share price set to sink below the $1 mark for the first time since 2018?
• Are CBA shares a buy? Here’s what analysts say
• Perseus Mining share price slips despite record quarter
• South32 share price sinks 8% amid rising cost guidance
• Why is the AGL share price outperforming today?

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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