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The EML Payments Ltd (ASX: EML) share price is under attack from short sellers, with the company’s short interest increasing over the last few weeks.  

But why are market participants betting against the payment provider’s stock?

At the time of writing, the EML Payments share price is $2.89, 1.4% higher than its previous close.

For context, the broader market is also in the green on Friday, with the All Ordinaries Index (ASX: XAO) gaining 0.42% and the S&P/ASX 200 Index (ASX: XJO) rising 0.44%.

So, what could be driving EML Payment’s short position higher? Let’s take a look.

What’s boosting EML Payments’ short interest?

Betting against the EML Payments share price has ramped up in recent weeks, sending the company’s short position to 8.79%.

That means short sellers have borrowed and sold nearly 8.8% of the company’s stock, hoping its value will fall so it can re-purchase it at a lower price to return to the stock’s lender.

If successful, the short sellers will then pocket any falls in the EML Payments share price as a profit.

The company’s 8.8% short-selling position is significant – placing it as the ninth most shorted ASX share as of The Motley Fool Australia’s latest short-selling breakdown, published each week.

It also places the stock at its most shorted position in years. In fact, as recently as early February, the company’s short interest was tracking at around 5%.

As my colleague James Mickleboro noted, its short position could be due to concerns over the company’s valuation.

Earlier this month, Mickleboro reported EML Payments’ shares are trading at approximately 30 times the company’s estimated financial year 2022 earnings.

However, many brokers are bullish on the company’s future, despite the EML Payments share price having fallen 12% year to date.

Brokers at UBS and Ord Minnett are excited by a deal announced by the company earlier this month, which will see EML Payments entering the European employee benefits market.

EML Payments share price snapshot

The EML Payments share price has had a rough trot lately.

As mentioned above, it has slumped just over 12% so far in 2022. It has also tumbled 41% over the last 12 months, spurred by last year’s Irish disaster.

However, it’s still 88% higher than it was five years ago.

The post Why is the EML Payments (ASX:EML) share price being shorted so much lately? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Has the bottom been and gone for EML (ASX:EML) shares?
• Why Ampol, EML, Vulcan, and Zip shares are zooming higher
• EML Payments (ASX:EML) share price storms higher on ‘milestone’ European deal
• These are the 10 most shorted ASX shares

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. 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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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.45% to 7,420 points.

Here’s what is happening on the ASX 200 on Friday:

Premier Investments half year results

The Premier Investments Limited (ASX: PMV) share price is edging lower today. This is despite the release of the retail giant’s half year results, which revealed earnings ahead of guidance and a record dividend. The Smiggle and Peter Alexander owner reported a 5.5% increase in EBIT to $212 million and a record fully franked interim dividend of 46 cents per share.

BHP shares upgraded

The BHP Group Ltd (ASX: BHP) share price is pushing higher today after being upgraded by Morgans. According to the note, the broker has upgraded the mining giant’s shares to an add rating with a $51.80 price target. The broker made the move after upgrading its iron ore price forecasts.

Ampol’s Z Energy acquisition update

Ampol Ltd (ASX: ALD) shares are trading lower today despite a positive update on its proposed acquisition of Z Energy Ltd (ASX: ZEL). According to the release, Z Energy shareholders have voted in favour of the transaction at a meeting this morning. This brings the deal a step closer to completion. Though, it still requires the receipt of a ‘no objection statement’ from the Takeovers Panel, approval from the Overseas Investment Office, and final orders of the High Court.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the BlueScope Steel Limited (ASX: BSL) share price with a 5% gain. This is despite there being no news out of the steel producer. The worst performer has been the Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price with a 3% decline. This medical device company’s shares have come under pressure this week following a guidance update.

The post ASX 200 (ASX:XJO) midday update: Premier’s record dividend, BHP upgraded appeared first on The Motley Fool Australia.

More reading

• Premier (ASX:PMV) share price on watch after earnings beat and record dividend
• 5 things to watch on the ASX 200 on Friday
• These 3 ASX 200 shares are topping the volume charts on Thursday
• Is the Appen (ASX:APX) share price on the comeback trail?
• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach

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 Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Integrated media company, NZME Ltd (ASX: NZM) is making headlines today following a potential partnership with internet giant, Google.

At the time of writing, the NZME share price is rocketing 15.5% to $1.565 in early morning trade. This means that the company’s shares are up more than 25% in the past month alone.

What did NZME announce?

In its statement, NZME advised that it has signed a letter of intent with Google for the supply of news content to News Showcase. The latter is Google’s online news platform that allows participating publishers to share their expertise and thoughts.

Both parties will now enter a 90-day negotiation period to finalise the key terms set out in the proposal.

It is expected that the final contractual agreement will be based on a minimum term of five years.

NZME also noted that it is currently in commercial discussions with Meta, the parent company which owns Facebook and Instagram. The nature of the potential agreement is in regards to receiving support for a number of digital transformation projects over the next year.

If the Google deal materialises along with other anticipated commercial arrangements, NZME is forecasting an improved EBITDA for FY22. This would be in the range of $67 million to $72 million, given the current trading performance in hand.

NZME chief executive, Michael Boggs touched on the announcement, saying:

We are pleased to have reached a point with Google where we can partner with them to further enable digital growth across NZME’s business, boosting digital revenue for NZME and increasing our audience reach.

We look forward to reaching final agreement with Google that will see NZME’s news content supplied and shared through Google programmes, continuing to support the future of high quality, trusted journalism in Aotearoa.

About the NZME share price

After gaining 15% today, the NZME share price has more than doubled in value over the past 12 months.

Although, when looking at year to date, the company’s shares are up around 16%.

NZME has a price-to-earnings (P/E) ratio of 9.45 and commands a market capitalisation of roughly $308.21 million.

The post Little-known ASX share pops 15% following Google deal appeared first on The Motley Fool Australia.

More reading

• Why this old-school ASX share is under-appreciated: fundie

Suzanne Frey, an executive at Alphabet, 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. 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. owns and has recommended Alphabet (A shares) and Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Meta Platforms, Inc. 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 Qantas Airways Limited (ASX: QAN) share price is marching higher today. The airline is up 0.99%, outpacing the 0.46% gains posted by the S&P/ASX 200 Index (ASX: XJO) at this same time.

Qantas shares closed yesterday at $5.05 and are currently trading for $5.10.

That gives the flying kangaroo a market cap north of $9.5 billion.

So is the Qantas share price approaching its all-time highs?

Not yet!

The highest ever Qantas share price

2019 was a good year for Qantas shareholders.

The airline paid an interim and final dividend, totalling 25 cents, equating to a yield of 3.5% or more, depending on when you’d bought shares. It was also the last year the COVID-19-battered company paid any dividends.

The year was going so well that by 19 December 2019 the Qantas share price had gained more than 29% in the calendar year.

On that date, Qantas shares closed at $7.40, the highest closing price ever.

Qantas achieved that milestone despite rising fuel costs at the time. The record also came shortly after the airline announced its plans to be net carbon neutral by 2050.

What happened next?

Unless you’ve recently returned from Mars, you’ll likely know what happened soon thereafter.

The Qantas share price slipped heading into early 2020 but remained well above its early 2019 levels, right up until 21 February.

On that date, the great pandemic fuelled sell-off sent almost every ASX share tumbling for the next four weeks. ASX travel shares really got the stuffing knocked out of them as international and domestic borders slammed shut.

By 20 March, Qantas shares had cratered to $2.36, down a gut-wrenching 68% from their 19 December 2019 all-time highs.

Then on 20 March 2020, as you’re also likely aware, investors woke up to the reality that the fire sale had been overdone. And Qantas rallied alongside most ASX 200 shares.

The current Qantas share price of $5.10 may still be down 31% from its record closing high. But shares have gained 116% since the 20 March 2020 lows.

We hope shareholders remained seated with their seatbelts securely fastened.

The post What was the highest ever Qantas share price? appeared first on The Motley Fool Australia.

More reading

• Own Qantas shares? Here’s how the airline is planning to profit from NFTs
• Is the Qantas (ASX:QAN) share price about to soar 40% higher?
• Why Arafura, Block, Magellan, and Qantas shares are storming higher
• Why are ASX travel shares taking off today?
• Qantas share price lifts as CEO takes to the skies

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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Although the National Australia Bank Ltd (ASX: NAB) share price is trading lower today, that couldn’t stop it from hitting a new 52-week high of $31.84 on Friday in early trade.

When the NAB share price reached that level, it meant it was up an impressive 23% over the last 12 months.

Can the NAB share price keep rising?

The good news for shareholders is that one leading broker believes the NAB share price still has decent upside potential.

According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on the bank’s shares to $34.50.

This implies potential upside of almost 9% for investors over the next 12 months. And if you include the 4.3% fully franked dividend yield Bell Potter is forecasting in FY 2022, the total return on offer stretches to over 13%.

What did the broker say?

Bell Potter notes that NAB has completed its $2.5 billion on-market share buy-back and announced a further buy-back of up to $2.5 billion.

Combined with its forecast for higher net interest income, this has led to the broker increasing its earnings per share forecasts from FY 2023. The broker explained:

“NAB’s cash earnings are increased by 3% from FY25e, mainly due to higher net interest income (up to 1% from FY25e) and even higher other banking income (3-12% in FY23e through to FY25e from reversion back to normalcy especially in business/private and corporate/institutional banking).

These are offset to some extent by higher credit impairment charges (by up to 15bp – previously 12bp – in FY25e). In addition to lower dividend valuation yield of 3.75% (discount rate is maintained), the price target is therefore increased by $2.00 to $34.50. NAB’s Buy rating is retained.”

All in all, this could make the NAB share price one to consider if you’re looking for exposure to the banking sector.

The post Top broker gives its verdict on the NAB share price appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Why are ASX 200 bank shares underperforming on Thursday?
• NAB share price lower despite new $2.5bn buyback
• NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback
• Banking gains! NAB share price hits yet another 52-week high

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 Bruce Jackson.

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

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

What happened

Today, large-cap cryptocurrencies Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), and Dogecoin (CRYPTO: DOGE) are each seeing very positive price action in the market. These three tokens have appreciated 2.7%, 6.3%, and 8.8% over the past 24 hours, as of 12:10 p.m. ET.

Each of these top tokens has its own individual catalysts today, besides overall positive sentiment building in the crypto market.

For Ethereum, investors continue to place bullish bets on the upcoming proof-of-stake merge of the Ethereum network. Expectations are that staking rewards could be in the 10%-15% range, a factor that should boost the attractiveness of the ETH token substantially.

Solana’s continued rise higher appears to be at least somewhat attributed to a new Grayscale fund focusing on smart contracts. Solana is the largest position in this fund, with an allocation of 24%.

Dogecoin investors appear to be enticed by this network’s continued use case growth. Today, Bitcoin of America announced it was adding Dogecoin to its crypto ATMs.

So what

All of these individual catalysts are big for these respective tokens. For Ethereum, its migration to a true proof-of-stake network is a move many investors are excited about. The potential to earn meaningful passive income while holding ETH for the long term is of interest to many. Accordingly, expectations are that investors could be in addition mode prior to this merge, which could take place as early as May/June of this year.

The addition of altcoins like Solana to various funds and added ATM functionality for meme tokens such as Dogecoin are both broadly positive catalysts. Right now, investors appear to be taking the view that any positive catalyst is a reason to add to this sector, with risk-on sentiment prevailing at the moment.

Now what

So long as crypto investors remain intent on buying the dip on popular cryptocurrencies, these three tokens are likely to continue to see positive momentum in the near term. However, over the medium to long term, the market seems to be undecided on which direction it intends on moving.

Right now, there is a range of macro uncertainties that ought to provide investors with pause. Those taking the long view on this sector may want to look for specific opportunities in this environment. Right now, Ethereum, Solana, and Dogecoin are tokens that are gaining significant attention in this regard.

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

The post Why Ethereum, Solana, and Dogecoin are surging higher today appeared first on The Motley Fool Australia.

More reading

• Investing in cryptos? Here’s what you need to know come tax time: expert
• Can Ethereum reach $4,000?
• Why Bitcoin, Ethereum, and crypto stocks are soaring
• Why this expert says the Ethereum price will triple in 2022
• Is Shiba Inu ready for a bull run?

Chris MacDonald owns Ethereum and Solana. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Ethereum. 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.

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

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

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

What happened

Tesla (NASDAQ: TSLA) stock has the pedal to the metal. For the eighth day in a row, shares of the electric car superstar roared higher — up 2% as of 11:45 a.m. ET on Thursday.  

A couple of positive news items today may explain why Tesla shares continue to zoom higher. 

So what

News item No. 1: You probably heard last year when rental car kingpin Hertz said it was ordering 100,000 pricey new Teslas to add to its rental car fleet, right? At first, those were going to be largely Model 3 sedans, Tesla’s cheapest electric car (if still not exactly cheap at $47,000). Well, last night, Reuters reported that Hertz will also be buying some Model Y crossovers from Tesla as well — and those electro-buggies don’t roll off the car lot for less than $63,000.  

Long story short, for every single Model Y Hertz buys from Tesla, instead of a Model 3, Tesla investors can expect to see 34% more revenue for their Tesla stock.

Now what

Selling electric cars is good business for Tesla, accounting for about 95% of Tesla’s $53.8 billion in revenue last year, according to data from S&P Global Market Intelligence. But electric cars don’t go very far without batteries to operate them — which brings us to news item No. 2:

As Reuters also reported last night, one of Tesla’s battery suppliers, LG Energy Solution, has announced that it will spend $1.4 billion to build a battery factory in Arizona. LG says the factory will supply both “prominent start-ups” and other car companies in North America, presumably referring to LG customers Lucid Group and also to Tesla.

Reuters reports that the new LG factory won’t reach “mass production” levels before 2024, but construction will begin in Q2 2022 — which begins just eight days from today, and promises a relatively quick influx of new battery supplies for Tesla. Considering that Tesla CEO Elon Musk has highlighted battery supply as “the limiting factor” (emphasis added) in Tesla being able to ramp up car production over the next few years, LG’s entry into Arizona can only be good news for Tesla stock.

And that’s exactly how Tesla investors are treating it today. 

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

The post Why Tesla stock zoomed higher again appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock went up again
• Full charge ahead: The Pilbara Minerals (ASX:PLS) share price lifts another 4% today
• Elon Musk wants Tesla to be much, much bigger
• Why Tesla shares are up ahead of ‘Delivery day’
• Why Tesla stock keeps driving higher

Rich Smith has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla. 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.

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

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Until recently, it was the ASX’s largest company. Its shares traded for as much as $110.19 at its all-time high in November 2021 and it still boasts a market capitalisation of more than $180 billion. But the Commonwealth Bank of Australia (ASX: CBA) share price wasn’t always sky high.

In fact, when it first listed, Australians could buy a share in CBA for around the cost of a large cup of coffee today.  

At the time of writing, the CBA share price is $107.63, having gained 0.26% this morning.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.43% today.

However, for simplicity’s sake, this exercise will refer to CBA’s previous closing price – $107.35.

Let’s take a look at how much CBA’s shares have grown over the years.

1991: CBA stock offered for today’s pocket change

Hold onto your hats! For many market watchers, it might be mind-boggling to learn that the first public shares in CBA were sold for just $5.40 apiece.

That’s right – CBA’s stock has gained a whopping 1887.96% since its initial public offering (IPO). And that value-add doesn’t include the dividends investors have received from the iconic bank over the years.

Also worth noting, all dividends ever paid by CBA have been fully franked. Thus, they may have provided value to CBA shareholders beyond their cash worth.

Interested readers can find a breakdown of all dividends ever paid out by the bank here.

CBA’s IPO came on 12 September 1991 – 80 years after it was established as a government-owned retail bank.

It saw investors purchasing 30% of the bank’s stock. The sale of the shares, offered in parcels of at least 400, raised $1.3 billion.

Upon floating, the CBA share price’s first close was $6.46 – a 19.62% gain on the bank’s IPO price.

In 1993, a second share offer, this time of 178 million shares, reduced the government’s holding in CBA to 50.4%.

Finally, in 1996, the bank became the fully public monolith the ASX knows and loves in a third share offering.

CBA share price snapshot

The CBA share price’s historic gains have continued recently.

Over the last 12 months, it has gained 24%. It is also up year to date, having gained almost 5% through 2022 so far.

The post How much were CBA shares when they first floated? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• Why are ASX 200 bank shares underperforming on Thursday?
• Why did the CBA share price just close at a new 2022 high?
• NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback
• Leading brokers name 3 ASX shares to sell today

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 Bruce Jackson.

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The boss of the International Monetary Fund (IMF) this week let slip that it would downgrade its global economic growth forecast next month.

Rising energy prices, other supply shortages, and inflation arising due to the Russia-Ukraine conflict is starting to bite, especially in Europe.

“What we were striving for is for growth to go up and the inflation that has become a problem to go down,” IMF managing director Kristalina Georgieva told an online forum. 

“Instead, we have the exact opposite. Growth is going down, inflation is going up.”

This warning causes DeVere Group chief Nigel Green to worry about the possibility of a global recession.

“Developed economies are having to accept that they are facing the increasing likelihood of a recession in 2022 because of these ongoing supply chain disruptions and red-hot inflation not seen since the 1970s,” he said.

“In addition, developing countries can be expected to be hit hard by the fallout of higher energy and food prices, combined with tighter financial conditions triggered by advanced countries raising interest rates in a bid to control inflation.”

The trouble is, inflation was already running hot from supply issues and post-pandemic economic recovery, even before Vladimir Putin’s troops marched into Ukraine.

And now the invasion is just fanning the flames.

So, what do ASX shares investors do with their portfolios now?

How to protect your investments against a global recession

Geopolitical events often have investors fleeing to ‘safe haven’ assets like gold or cash.

But, according to Green, we’re still in a zero-interest era, so running to those assets while inflation is high doesn’t make sense.

“Cash is often considered a ‘safe haven’ during periods of volatility but it’s going to be negatively impacted by soaring inflation,” he said.

“Rampant inflation means excess cash in your bank accounts will lead to losses in real value. Hardly a safe haven then for those wanting to build long-term wealth.”

For Green, there is only one “clear” strategy for ASX shares investors during these incredibly uncertain times: diversification.

“An unwelcome combination of supply-side issues, soaring prices, climbing business and consumer uncertainty, slower growth and employment mean global recession risks are rising,” he said.

“A considered mix of asset classes, sectors, regions, and currencies offers protection from market shocks.”

He urged investors to seek professional help to guide them through any international economic disturbance.

“Investors would do well to review their portfolios now to ensure they are best-positioned.”

The post A global recession could be coming. Here’s what to do with your ASX shares appeared first on The Motley Fool Australia.

More reading

• Here’s why the Firefinch (ASX:FFX) share price is blazing 8% higher today
• These strong ASX 200 dividend shares just gave shareholders a pay rise
• The ASX share price has slumped 13% this year. Is it still overpriced?
• 2 cheap ASX shares that value investors could love: Experts
• Core Lithium (ASX:CXO) share price falls on shock CEO exit

Motley Fool contributor Tony Yoo 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 Firefinch Ltd (ASX: FFX) share price is having a strong finish to the week.

In morning trade, the lithium and gold explorer’s shares are up 8% to a 52-week high of 97 cents.

Why is the Firefinch share price jumping?

The catalyst for the rise in the Firefinch share price on Friday has been the release of a positive announcement relating to its gold operations.

According to the release, recent drilling activities have led to a substantial resource increase for the Viper and N’Tiola Satellite deposits at the Morila Gold Project in Mali.

The release explains that the Viper mineral resource estimate has increased by 128% to 3.27 million tonnes at 1.15g/t gold for 119,000 ounces of contained gold. Whereas the N’Tiola mineral resource estimate has increased by 18% to 2.90 million tonnes at 1.03g/t gold for 96,000 ounces of contained gold.

All in all, the mineral resource for the Morila Gold Project now stands at 2.5 million ounces of gold.

Firefinch’s managing director, Dr Michael Anderson, was pleased with the news. He said:

“We set out to develop the satellite pits into a solid and confident source of ore to bridge between the tailings treatment operation that we inherited to full production form the Morila Super Pit.”

This investment in drilling has delivered that with now over 200,000 ounces of resource in these two deposits alone and we expect a solid increase in Reserves at these pits to follow. We are already delivering ore from Viper as we start to ramp up to full production from Morila.”

But it may not stop there. Firefinch revealed that further drilling is planned at the Morila Gold Project during the course of 2022.

Following today’s gain, the Firefinch share price is now up 360% since this time last year.

The post Here’s why the Firefinch (ASX:FFX) share price is blazing 8% higher today appeared first on The Motley Fool Australia.

More reading

• 5 ASX mining shares smashing 52-week highs today
• Could the Firefinch (ASX:FFX) share price have 130% upside? Broker weighs in
• Is this boosting the Firefinch (ASX:FFX) share price higher today?
• Get ready! The ASX shares set for a decade-long tailwind: expert

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 Bruce Jackson.

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