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With the holiday season nearly upon us (or perhaps already begun for some lucky folks out there), many investors might be wondering just how they can trade the markets over the holiday period. As the saying goes, ‘money never sleeps’, but the share market certainly does. That’s why most of us can only buy or sell our ASX shares between 10 am and 4 pm, Monday to Friday.

But trading during the Christmas period is definitely not a dead rubber. Those of you readers that have been investing long enough might remember the ‘taper tantrum’ market correction that we saw back in 2018. Well, that saw the ASX 200 fall around 14% between October and late December. And the markets found their low point just around Christmas time, offering up a slew of festive bargains for those of us who could pry ourselves away from the Christmas Even ham. So sometimes it can pay to keep an eye on the markets over the holiday season!

So when exactly will we be able to buy and sell shares over the next week or two?

ASX share market to close for Christmas, New Years

Well, the ASX tells us that the first adjustment to expect is a shortening of trading hours on Christmas Eve (this Friday). Instead of the normal closing time of 4 pm, the ASX markets will instead close at 2 pm. So make sure you get any planned buys or sells done before that time if you don’t want to miss out.

After that, the ASX will be closed completely on Monday 27 December to account for Christmas Day being on a Saturday. It will also be closed on 28 December for Boxing Day.

Trading will then resume on 29 December and will go as normal until 31 December. But New Year’s Eve will also have a shorter trading day, with the markets again closing early at 2 pm.

Following that, the share market will again close completely for New Year’s Day on Monday 3 January, with normal trading to resume on Tuesday 4 January.

Remember, the good people at ASX Ltd (ASX: ASX) need a holiday too. So keep these dates in mind if you are planning some last-minute trades for the 2021 calendar year.

The post Which days is the ASX open and trading over Christmas? appeared first on The Motley Fool Australia.

More reading

• ASX shares to buy for the Omicron COVID outbreak
• Here’s why the ASX (ASX:ASX) share price struggled on Wednesday

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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The Antipa Minerals Ltd (ASX: AZY) share price is roaring higher on Thursday. This comes after the mining exploration company announced an update on the farm-in agreement on the Paterson Project.

At the time of writing, Antipa shares are swapping hands for 4.9 cents apiece, up 6.52%. In comparison, the All Ordinaries (ASX: XAO) is up 0.35% to 7,709.1 points.

What did Antipa announce?

Investors are buying up the Antipa share price after the company revealed a favourable decision by IGO Ltd (ASX: IGO).

According to its release, Antipa advised that IGO Newsearch will assume management of the farm-in agreement on the Paterson Project.

Based in the Paterson Province of Western Australia, the Paterson Project covers a 423 square kilometre tenement. The site is considered to have considerable gold, copper and silver deposits similar to the Newcrest Mining Ltd (ASX: NCM) world-class Telfer gold-copper mine.

IGO’s decision to manage the Paterson Project follows its initial $4 million exploration expenditure commitment. The funds were well ahead of the January 2023 due date stipulated in the Paterson Project farm-in agreement. No joint venture interest was earned by the incurring of this amount.

The next stage requires IGO to spend a further $26 million of exploration expenditure by January 2027. This will see it earn a 70% joint venture interest, which it has elected to manage.

Once the joint venture is formed, IGO is expected to free-carry Antipa to the completion of a feasibility study.

Antipa share price in review

In 2021, the Antipa share price has gained around 10%, but has fallen almost 26% in a month. The company’s shares have noticeably been trending lower since mid-November, nearing a 6-month low of 4.1 cents.

Based on valuation grounds, Antipa commands a market capitalisation of roughly $153.85 million, with 3.14 billion shares outstanding.

The post Here’s why the Antipa Minerals (ASX:AZY) share price jumped 6% today appeared first on The Motley Fool Australia.

More reading

• Drinking, banking, and EVs: 3 value ASX shares I’d buy right now
• Why is the IGO (ASX:IGO) share price in the doldrums today?
• What’s going on with the strange Newcrest (ASX:NCM) share price today?
• Here’s why the Antipa Minerals (ASX:AZY) share price is sliding today
• Top brokers name 3 ASX shares to sell next week

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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The Prospect Resources Limited (ASX: PSC) share price shot out of the blocks early in the session today.

The company’s shares were up 27% at 97 cents shortly after market open. However, they have since retreated are now swapping hands for 79 cents apiece, up 3.27%

Investors are responding positively to a company announcement that Prospect has sold its 87% shareholding in Prospect Lithium Zimbabwe (PLZ) Limited, owner of the Arcadia Lithium Project in Zimbabwe. Here are the details.

What did Prospect Resources announce?

Prospect advised it has executed a binding share sale agreement (SSA) with Huayou International Mining Limited for the sale of its stake in the Arcadia project.

Huayou has agreed to purchase Prospect’s 87% shareholding in PLZ and associated intercompany loans for approximately US$377.8 million (A$524.2 million) via an upfront cash consideration, equating to approximately A$1.23 per Prospect ordinary share.

The company notes this valuation represents a premium to Prospect’s 10-day volume weighted average price (VWAP) of approximately 78%.

Prospect says the transaction represents the “culmination of the strategic partnership process undertaken by [the company] since August 2021”.

Arriving at this outcome wasn’t an easy one for the company. Along the way, Prospect received seven non-binding proposals for the advancement of Arcadia from a range of international parties. These proposals “encompassed structures including development joint ventures, offtake prepayment debt funding and acquisition of Prospect’s interest in Arcadia”.

After “careful evaluation”, the Prospect board formed the view that the sale of its stake in PLZ to Huayou delivers the most attractive risk-adjusted, post-tax value outcome for Prospect shareholders.

What are the details?

There are a number of key conditions to complete the transaction. These include Prospect shareholder approval, requisite Chinese regulatory approvals being obtained by Huayou, and several other precedents outlined in the release.

Payments will be made over several tranches beginning with a deposit of US$20 million immediately payable by Huayou. This is non-refundable in certain circumstances where the transaction does not complete. A break fee of US$20 million payable by Prospect in certain circumstances of non-completion also applies.

Prospect intends to distribute the remaining net proceeds to its shareholders, and anticipates the transaction completing in late Q1 or early Q2 2022.

Prospect Resources share price summary

In the past 12 months, the Prospect Resources share price has soared by around 520%. It has also rallied by 355% this year to date.

It has gained 15% in the past month and is also up by 23% in the past week of trading.

Prospect Resources has outpaced all major benchmarks in these time frames.

The post Here’s why the Prospect Resources (ASX:PSC) share price just rocketed 27% appeared first on The Motley Fool Australia.

More reading

• Which days is the ASX open and trading over Christmas?
• Here’s why the Antipa Minerals (ASX:AZY) share price jumped 6% today
• The Neometals (ASX:NMT) share price is on fire, up 10% today. Here’s why
• Brokers name 3 ASX shares to buy today
• Westoz (ASX:WIC) share price surges 9% on ASX WAM merger

The author has no positions 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 Neometals Ltd (ASX: NMT) share price is rocketing today. This comes after the company provided an update on its wholly-owned Barrambie Titanium and Vanadium Project (Barrambie).

At the time of writing, the advanced materials company’s shares are up 9.9%, trading at $1.11 apiece.

Pilot plant online for offtake agreement

Investors appear to welcome the company’s progress, sending the Neometals share price higher today.

In its release, Neometals advised it has successfully brought its gravity beneficiation plant online at Menzies in Western Australia. This will see around the production of titanium-rich gravity concentrate samples for evaluation by potential Chinese offtake counterparties.

Neometals said it would produce and ship around 150 tonnes of gravity concentrates in the first quarter of 2022.

About 100 tonnes of the product will be distributed towards titanium slag producer, Jiuxing Titanium Materials (Liaonging).

In April, Neometals entered into a memorandum of understanding (MoU) with Liaonging for commercial-scale trials as part of its offtake evaluation process.

The company said delivery of the mixed gravity concentrate represented the final stage of the Jiuxing Barrambie offtake due diligence.

Jiuxing commercial smelting trials are scheduled for completion in the second quarter of 2022. It is anticipated that this will lead to advance negotiations for formal offtake agreements in October 2022.

Subject to the successful Jiuxing trial, positive pre-feasibility study, and board approval, execution of a Barrambie contract could come as early as December 2022.

The remaining mixed gravity concentrate bulk sample is expected to go to other potential off-takers.

Neometals share price summary

Over the past 12 months, the Neometals share price has zoomed upwards by more than 384%, with year-to-date up 323%.

The company’s shares hit an all-time high of $1.19 this month, before treading slightly lower.

Neometals commands a market capitalisation of around $605 million and has approximately 548 million shares on issue.

The post The Neometals (ASX:NMT) share price is on fire, up 10% today. Here’s why appeared first on The Motley Fool Australia.

More reading

• Why Betmakers, Centuria, Neometals, and Syrah shares are storming higher
• Why Australian Clinical Labs, Humm, Neometals, and Viva Energy are rising
• Neometals (ASX:NMT) share price jumps on battery recycling update
• Here’s why the Neometals (ASX:NMT) share price is surging 6% today
• Minerals Resources (ASX:MIN) share price wobbles on lithium agreement

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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Australian Clinical Labs Ltd (ASX: ACL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and increased their price target on this pathology company’s shares to $6.60. Goldman notes that Australian Clinical Labs has upgraded its first half guidance for the fourth time thanks to strong demand for COVID-19 testing and a solid performance from its base business. The broker believes testing volumes could remain high for some time yet and expects the company to benefit greatly. The Australian Clinical Labs share price is trading at $5.81 on Thursday.

Lovisa Holdings Ltd (ASX: LOV)

A note out of UBS reveals that its analysts have initiated coverage on this fashion jewellery retailer’s shares with a buy rating and $21.25 price target. The broker likes Lovisa due to its strong position in a fragmented market. Furthermore, UBS expects the company to benefit from reopening tailwinds, operating leverage, and its store expansion. In respect to the latter, UBS sees significant room for Lovisa to expand its store network globally in the future. The Lovisa share price is fetching $19.47 this afternoon.

Rio Tinto Limited (ASX: RIO)

Analysts at Citi have retained their buy rating and $115.00 price target on this mining giant’s shares. This follows news that Rio Tinto has acquired the Rincon Lithium project in Argentina for US$825 million. Citi notes that the project has the potential to be a low cost, low carbon footprint brine project of 50ktpa LCE. The broker appears to be a fan of the move and feels it confirms Rio Tinto’s ambition to be a serious player in lithium/battery materials. The Rio Tinto share price is trading at $99.32 today.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Medibank and NIB rise, Bega sinks
• Is Rio Tinto (ASX:RIO) paying too much for the Rincon lithium project?
• Why Brickworks, Charter Hall, Magellan, and Rio Tinto shares are falling
• Why Afterpay, Lovisa, Liontown, and Pilbara Minerals shares are racing higher
• ASX 200 (ASX:XJO) midday update: Rio Tinto’s lithium acquisition, Pilbara Minerals jumps

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 Australian Clinical Labs Limited and Lovisa Holdings 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 Westoz Investment Company Limited (ASX: WIC) share price is on fire today. Westoz shares are currently trading at $1.29 each, up a pleasing 8.86% at the time of writing. Since the S&P/ASX 200 Index (ASX: XJO) is ‘only’ up 0.23% at the same time, this is a marked outperformance from Westoz shares. This is especially notable, because, before today, Westoz shares had actually gone backwards over 2021 thus far, falling by 0.84%. Now, their year to date return stands at a far healthier 8%. 

So what’s going on here?

Well, this rise appears to be the result of a big announcement out this morning regarding Westoz.

Westoz to be acquired by WAM Capital

WAM Capital Limited (ASX: WAM), the giant Listed Investment Company (LIC), has announced this morning that it has entered into an arrangement to acquire Westoz in full. Under the arrangement, WAM Capital will acquire all shares of Westox that it doesn’t already own. In exchange, shareholders will receive 0.652 shares in WAM Capital. This makes this deal an all-scrip one. That gives the offer a value of roughly $1.447 for every Westox share. So no wonder Westoz is rocketing towards that level today.

Westoz’ board has said that the offer will be subject to “independent expert determining that the Proposed Transaction is in the best interests of Westoz shareholders”. However, the board also said that ” in the absence of a superior proposal, the Westoz Board of Directors believe the Proposed Transaction is in the best Interests of Westoz shareholders and intend to vote their own Westoz shares in favour of the Proposed Transaction”.

Here’s what Westoz chair Jay Hughes had to say on this deal:

An investment in WAM Capital through the Proposed Transaction offers our shareholders greater liquidity and a more favourable alignment between market price and underlying asset value for their holdings. WAM Capital also offers a similarly successful track record of underlying portfolio performance.

Westoz shareholders will be able to vote on this proposed marriage next April, with a proposed date of 21 April for implementation.

But this isn’t the only deal WAM Capital has announced today. This $2 billion LIC has also announced that it also intends to acquire Ozgrowth Limited (ASX: OZG) as well. Ozgrowth is another LIC, and WAM is also proposing to pay for the acquisition with the issuance of new shares.

A big day for shareholders of WAM Capital, Ozgrowth and Westoz, indeed!

The post Westoz (ASX:WIC) share price surges 9% on ASX WAM merger appeared first on The Motley Fool Australia.

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• Green light? WAM Capital (ASX:WAM) share price lifts as PM Capital board says just do it
• Invested in WAM Capital (ASX:WAM) shares? Here’s what to watch in 2022
• WAM (ASX:WAM) share price higher on PM Capital fund takeover news
• You want an ASX share to hold for 4 years? Here are 2!
• Own WAM Capital (ASX:WAM) shares? Here’s what the company has planned for 2022

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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The Lithium Energy Ltd (ASX: LEL) share price is surging today on the back of a graphite project update.

The company’s shares were trading at 81 cents apiece early today, a gain of almost 11%. They have since retreated to 76.5 cents, still up 4.79% on yesterday’s closing price.

Let’s take a look at what may be weighing on investors’ minds today.

What did the lithium miner announce?

The company provided a wide-ranging update on its drilling, test work, and manufacturing potential at the battery miner’s Burke graphite project in Queensland.

Lithium Energy is a battery minerals explorer, also operating at the Solaroz lithium project in Argentina.

Test work to improve the production of battery-grade graphite is progressing nicely and high purity graphite concentrate from drill samples is being produced.

This graphite will be purified and tested by the CSIRO to help the company market the use of this graphite for lithium-ion batteries.

Further, Lithium Energy is planning a drilling expedition in the first quarter of 2022.

Drilling at the Burke tenement is aimed at upgrading the mineral resource to a higher standard. Doing so would help Lithium Energy explore the commercial potential of a new purified spherical graphite manufacturing operation. This production would tap into high-grade graphite from the Burke tenement as the feedstock.

The company is also planning to drill for graphite at the Corella tenement, located 150km south of the Burke tenement.

Lithium Energy is gauging interest from engineering companies to advance the planned manufacturing facility.

Lithium Energy share price snapshot

The Lithium Energy share price has surged 282% this year to date after the company joined the ASX in May.

In the past week, the company’s shares have gained more than 8%.

The company has a market capitalisation of about $58 million based on its current share price.

The post What’s driving the Lithium Energy (ASX:LEL) share price higher today? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Lithium Energy (ASX:LEL) share price is tumbling 6% today

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decent gain. At the time of writing, the benchmark index is up 0.4% to 7,395.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price is up over 3% to 81.5 cents. This morning the betting technology company announced an agreement to become the exclusive provider of pari-mutuel racing services for Caesars Entertainment’s brick-and-mortar retail sportsbook locations in Nevada. Caesars Entertainment is the largest casino-entertainment company in the United States and one of the world’s most diversified casino-entertainment providers.

Centuria Capital Group (ASX: CNI)

The Centuria Capital share price is up 4% to $3.48. This follows the announcement of a series of healthcare property acquisitions across Australia and New Zealand totalling more than $466 million. This includes a geographically dispersed New Zealand portfolio of 38 aged care assets for NZ$291million (A$276million).

Neometals Ltd (ASX: NMT)

The Neometals share price has jumped 8% to $1.09. This morning Neometals revealed that it has successfully commissioned its pilot plant and commenced production of a titanium-rich gravity concentrate sample for offtake evaluation trials. Approximately 150 tonnes of gravity concentrates will be produced and shipped in the first quarter of 2022.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price has surged 23% higher to $1.63. Investors have been buying this battery materials producer’s shares after it announced an offtake agreement with electric vehicle giant Tesla to supply natural graphite Active Anode Material (AAM) from its production facility in Vidalia, USA. Tesla will offtake the majority of the proposed initial expansion of AAM production capacity at Vidalia at a fixed price for an initial term of four years.

The post Why Betmakers, Centuria, Neometals, and Syrah shares are storming higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Medibank and NIB rise, Bega sinks
• Syrah (ASX:SYR) share price rockets 32% higher on Tesla deal
• Why Australian Clinical Labs, Humm, Neometals, and Viva Energy are rising
• Neometals (ASX:NMT) share price jumps on battery recycling update
• Here’s why the Neometals (ASX:NMT) share price is surging 6% today

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 Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group 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 next year is almost here. There are some impressive ASX shares to consider for 2022 which experts have rated as buys.

Businesses which are growing quickly have the ability to achieve attractive compound growth over a number of years.

Bubs Australia Ltd (ASX: BUB)

Bubs is a leading goat milk infant formula business, but the Bubs share price has dropped by 24% this year.

The business is rated as a buy by the broker Citi, with a price target of $0.58. That suggests a potential rise of the share price of just over 25% in the next year, if the broker is right.

Citi notes the recovery that Bubs is seeing, particularly when it comes to the daigou channel. The broker also thinks that the ASX share can also expand its addressable market.

Bubs gave investors an insight into potential performance in 2022 with its FY22 first quarter update. Total gross revenue nearly doubled to $18.5 million, whilst Bubs infant formula daigou sales increased 648% year on year.

The ASX share is also making progress internationally. For the first three months of FY22, international (excluding China) gross revenue increased 489% year on year, contributing 24% of quarterly sales. Export sales of Bubs infant formula to markets outside of China grew 154%.

Bubs has signalled its expanding global strategy by establishing entities in New Zealand, China and the USA.

Looking at the product categories, the infant nutrition portfolio – which has higher margins than the adult goat dairy portfolio – saw growth of 89%. The infant formula gross revenue grew 124% year on year and 64% quarter on quarter.

Bubs management say that they are confident on its vision to take Bubs to a global stage.

ELMO Software Ltd (ASX: ELO)

ELMO Software is a leading HR and payroll tech company. It has a substantial presence in both Australia and the UK.

It’s currently rated as a buy by the broker Morgan Stanley with a price target of $7.80. This would be a rise of more than 50%, if the broker’s prediction ends up being right.

ELMO Software is steadily adding more modules for its small and medium clients to utilise. This can increase revenue made from the client, and make the ELMO software even more valuable to the client (and make them more ‘sticky’).

The broker thinks the ASX share can benefit from a number of tailwinds, such as more companies utilising digital tools and software.

In the first three months of FY22, revenue increased 52% to $20.7 million and annualised recurring revenue (ARR) surged 61% to $88.5 million. Cash receipts went up 78% to $27.7 million whilst the business had $75.7 million of cash on hand. The company becoming cashflow neutral/positive could help investor thoughts on the business, according to the broker.

Extending ELMO’s module suite, it recently launched ‘Experiences’ for improve employee engagement and ‘COVIDsecure’ for things like recording, monitoring and reporting COVID vaccination and test status.

The post Are these 2 impressive ASX shares buys for 2022? appeared first on The Motley Fool Australia.

More reading

• Top broker: The Bubs (ASX:BUB) share price has more than 20% upside
• 2 top ASX growth shares that could be worth buying
• 2 promising and rapidly growing ASX growth shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Elmo Software. The Motley Fool Australia owns and has recommended Elmo Software. The Motley Fool Australia has recommended BUBS AUST FPO. 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 Nova Minerals Ltd (ASX: NVA) share price is surging today after the company emerged from Tuesday’s trading halt.

The jump follows this morning’s release of a comprehensive company report — detailing a large increase in the gold extraction expected to be reaped from its Alaskan project.

Nova Minerals estimates another 55% will be extracted from the site, totalling around 9.6 million ounces. 

At the time of writing, the Nova Minerals share price is up 10.78% at $1.14. In early trading, it was as high as $1.20 — a near 17% gain on its last closing price.

Alaskan project a ‘company-making’ development

The Australian-based resource exploration company operates a flagship gold exploration site in Alaska, in an area deemed the Tintina gold province.

Within its ‘Estelle’ site, two out of 15 extraction zones have shown the promising gold deposits which are driving the Nova Minerals share price today.

These two sites are the Korbel Main deposit and the RPM deposit.

The company entered a trading halt back in October as it released its initial maiden gold resource estimate of 1.5 million ounces at the RPM deposit.

Commenting on today’s announcement, Nova Minerals chief executive Christopher Gerteisen said:

Korbel Main at our Estelle gold project is a ‘company-making’ deposit with high grades continuing to highlight the massive upside potential that remains. Korbel Main changes the future for Nova and our shareholders. It only represents a small area of the extensive local mineralised system.

Nova’s management, with much credit to our team on the ground, has taken the Estelle gold project from discovery to a multi-deposit gold district in a short timeframe and on relatively limited funding and the exciting point is that we’re only getting started.

Further updates for Nova Minerals

With further goals on target, Gerteisen said the company had discovered minerals at two more zones within the Estelle project. He said he was confident its “global resource inventory will continue to grow for many years to come”.

Gerteisen also said the company was still awaiting assay results for an already drilled 8,000m at the Korbel Main site, which are set to be released to shareholders in a mineral resource update next year.

In the meantime, multiple diamond rigs would be mustered at the site.

Pre-feasibility studies in “metallurgy, geotechnical, mining, environmental, infrastructure, and hydrogeology” are also continuing amid the drilling projects.

Nova Minerals share price snapshot

The Nova Minerals share price has dropped around 31% over the last month and year. 

The company, which also has an indirect interest in lithium, has a market capitalisation of $183.8 million based on its current share price.

The post Here’s why the Nova Minerals (ASX:NVA) share price jumped 17% today appeared first on The Motley Fool Australia.

More reading

• Is the Nova Minerals (ASX:NVA) share price really shooting 800% higher today?

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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