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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. The benchmark index is currently down 0.35% to 7,370 points.

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

AMP shares rise on update

The AMP Ltd (ASX: AMP) share price is rising today after the financial services company confirmed it will continue to manage its $7 billion office fund. According to the release, after hearing advice from an independent advisory committee, the trustee board of AMP Capital Wholesale Office Fund (AWOF) decided AMP can keep hold of the fund.

Lithium miners jump

It has been a good start to the week for lithium miners such as Orocobre Limited (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS). Both lithium shares are outperforming today, potentially due to a bullish broker note out of Macquarie Group Ltd (ASX: MQG). The broker has retained its equivalent of buy ratings on these shares due to the positive outlook for battery making ingredients.

Travel shares fall

The travel sector has been performing particularly poorly today. This appears to have been driven by rising COVID-19 cases in the US and Europe, which has led to some countries locking back down again. The likes of Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) are among the hardest hit on Monday.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Nickel Mines Ltd (ASX: NIC) share price with a 6.5% gain. This follows the announcement of a memorandum of understanding which secures the next phase of the nickel producer’s growth. The worst performer has been the Flight Centre share price with a 4.5% decline following weakness in the travel sector.

The post ASX 200 (ASX:XJO) midday update: Lithium miners jump, Flight Centre tumbles appeared first on The Motley Fool Australia.

More reading

• The Woolworths (ASX:WOW) share price is up 20% so far in 2021. Here’s why
• Here’s why ASX 200 travel shares are getting hammered today
• AMP (ASX:AMP) share price lifts as company retains control of office fund
• These are the 10 most shorted ASX shares
• Are these 2 strong ASX 200 shares buy rated?

Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, Macquarie Group Limited, and Webjet 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 PPK Group Limited (ASX: PPK) share price is looking ripe for the taking to one Australian fund manager.

In September, PPK shares became the focus of the market as one of its joint ventures, Li-S Energy Ltd (ASX: LIS), got set for its market debut. The listing of the lithium-sulphur battery tech company garnered an oversubscribed initial public offering (IPO). In turn, investors began to bid up the PPK Group share price in anticipation of a blockbuster Li-S Energy listing.

However, with PPK retaining ~45% ownership of the battery tech company, the euphoria has since gradually faded.

Despite this, the team at EGP Capital is still bullish on PPK Group. Let’s take a closer look at why this fund’s sentiment isn’t waning.

Why this fund sees value in ASX-listed PPK Group

After roughly a 33% retracement in the PPK Group share price since the end of August, EGP Capital’s weighting toward the company in its Concentrated Value Fund has fallen from 15% to 7.8%. Correspondingly, the diversified business has shifted from the fund’s largest holding to its third-largest holding.

It was a positive month of returns for the fund, outpacing the S&P/ASX 200 Index (ASX: XJO) by 1.3%. Although, there were 2 companies that weighed on the fund’s monthly returns. One of these companies was ASX-listed PPK Group, falling nearly 15% throughout October.

Undeterred by PPK’s poor monthly performance, EGP Capital chief investment officer Tony Hansen outlined the fund’s stance on the billion-dollar business. In EGP’s October report, Hansen explained:

In simple terms, I think there was enormous interest in the LIS IPO and particularly large institutional money managers that wanted exposure to LIS realised that because the IPO was so oversubscribed, they would not get it by participating in the IPO.

What I suspect they then did was to buy PPK as a proxy for LIS (given it would own almost half of the business post listing). This buying then reversed after LIS listed as these institutions sold their PPK on market to purchase the LIS they really wanted to own.

The fund believes that such an approach, if true, demonstrates flawed thinking by these institutions. The reason for this is that ASX-listed PPK Group offers numerous opportunities outside of Li-S Energy. As such, EGP Capital considers PPK to be worth much more than Li-S Energy.

Another take

EGP Capital is not alone in liking what PPK Group has to offer. In an article published last month, we covered 4 ASX shares that chief investment officer and founder of Regal Investment Fund (ASX: RF1) Phil King likes in the battery and lithium space.

That list included PPK Group alongside other high-profile names in the industry. The fundie highlighted the significant research and development progress made by PPK and its subsidiary Li-S Energy.

Finally, despite the recent weakness, the PPK Group share price has returned 104.5% on the ASX since the beginning of the year.

The post Here’s why this fund manager thinks PPK (ASX:PPK) is a great buying opportunity appeared first on The Motley Fool Australia.

More reading

• The Li-S Energy (ASX:LIS) share price is still running low. What’s happening?

Motley Fool contributor Mitchell Lawler 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 Silver Lake Resources Limited. (ASX: SLR) share price is in reverse on Monday morning. This comes despite the gold producer announcing an update on the acquisition of Harte Gold Corporations’ credit facilities.

At the time of writing, Silver Lakes shares are down 4.02% to $1.79. Regardless of the drop today, its shares are still up close to 15% in the past month.

What did Silver Lake update the ASX with?

Investors are sending the Silver Lake share price lower, following the company’s completed transaction. Not helping is the broader S&P/ASX 200 Index (ASX: XJO), which has fallen 0.79% to 7,338 points.

In its release, Silver Lake advised it has secured the credit facilities provided by BNP Paribas (BNP) to Harte Gold.

Canadian-listed, Harte Gold is a mining company that owns and operates the Sugar Zone mine in Ontario, Canada. The site comes with an associated 81,287-hectare land package.

BNP is a French international banking group, the largest in Europe and seventh largest in the world by total assets.

Silver Lake acquired a $US41.3 million non-revolving term facility and a US$22 million revolving facility. Together, the US$63.3 million line of credit has an outstanding interest of $US2.3 million.

A forbearance agreement between Harte Gold and BNP was entered since 30 July 2021. The facilities are secured by a first lien on all the assets, property and undertaking of Harte Gold. The forbearance period is due to expire at the end of this month.

Harte Gold has committed various events of default under the credit agreement, including non-payment of certain principal and interest payments.

Silver Lake funded the transaction through the use of its existing cash reserves.

Silver Lake share price snapshot

Over the past 12 months, Silver Lake shares have fallen around 3% despite surging since late September. When looking at 2021 alone, its shares have flatlined for the period.

Silver Lake commands a market capitalisation of roughly $1.61 billion with approximately 885.40 million shares outstanding.

The post Here’s why the Silver Lake (ASX:SLR) share price is slipping today appeared first on The Motley Fool Australia.

More reading

• Why is the Silver Lake (ASX:SLR) share price having such a stellar run of late?
• These were the best performing ASX 200 shares in October
• Why has the Silver Lake (ASX:SLR) share price leapt 30% in a month?

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 AMP Ltd (ASX: AMP) share price is in the green this morning after the financial services company confirmed it will keep hold of its $7 billion office fund.

After hearing advice from an independent advisory committee and legal and financial advisers, the trustee board of AMP Capital Wholesale Office Fund (AWOF) decided the embattled company can keep the fund’s reins.

At the time of writing, the AMP share price is $1.155, 1.76% higher than its previous close.

Let’s take a closer look at today’s announcement from AMP.

AMP share price up on AWOF win

After a long battle, it has been decided that AMP will continue its management of AWOF, albeit upon implementing multiple changes.

Under the ruling, AMP must make changes to the fund’s governance, increase its manager alignment, and reduce its fee arrangements.

Despite the adjustments, the findings are a significant win for AMP Capital. Keeping AWOF on its books likely sees it in a stronger position ahead of its planned demerger of AMP Capital’s Private Markets.

AMP Capital has also committed to put up to $500 million of alignment capital towards supporting AWOF and its other real estate funds.

The trustee board’s finding could be a blow to GPT Group (ASX: GPT) and Mirvac Group (ASX: MGR). They were both vying for control of the top-performing office fund.

Both groups’ share prices are relatively flat today. GTP is 0.1% lower and Mirvac shares are unchanged from Friday’s closing price. However, they’re marginally better than the broader market. The S&P/ASX 200 Index (ASX: XJO) is currently down 0.52%.

Right now, the AMP share price is just 0.85% lower than it was this time last month. However, it’s still 25% lower than it was at the start of 2021.

What did management say?

AMP Capital CEO Shawn Johnson commented on the trustee board’s findings, saying:

Our strong track record, as well as the recent $2.2 billion Pacific Fair and Macquarie Centre transaction – the largest of its type in Australian history – demonstrates our capability to continue delivering for our investors in real estate.

This decision recognises the commitment of our real estate team, who deliver every day for AWOF unitholders, and follows a comprehensive and detailed review against our peers.

The post AMP (ASX:AMP) share price lifts as company retains control of office fund appeared first on The Motley Fool Australia.

More reading

• Is there still hope for the AMP (ASX:AMP) share price?
• AMP (ASX:AMP) share price higher after $40 million APRA enforcement
• Why AMP (ASX:AMP) shares might be in the spotlight next week
• Can AMP (ASX:AMP) maintain control of its $7 billion office fund?
• How to get more women trading ASX shares for a living

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 week might be about to start off with a bang for Nimy Resources Limited (ASX: NIM) as the company prepares for its initial public offering (IPO).

The junior nickel explorer’s shares are set to float on the ASX at 12:30pm AEDT Monday. Under its prospectus, Nimy’s shares were going for 20 cents apiece.

Let’s take a look at the company that will soon be the newest nickel-focused ASX participant.

What does Nimy Resources do?

Nimy Resources is a nickel explorer with 100% ownership of the greenfield exploration project Mons Nickel.

The Mons Nickel Project is in Western Australia’s Yilgarn Craton. According to the company, the Yilgarn Craton makes up part of a tier-one mining jurisdiction with substantial nickel and gold resources.

The project has had minimal nickel exploration and Nimy Resources hopes modern exploration techniques will expose its potential. So far, Nimy has put together a database including aerial geophysical surveys, soil and rock chip samples, ground magnetics, and drilling results from previous exploration.

Additionally, the company completed the project’s maiden drill campaign in October 2020. Through the campaign, Nimy drilled 20 reverse circulation holes to a depth of around 200 metres. Of those, 16 intersected substantive widths of nickel mineralisation with mineralisation, in many instances, ongoing at end of hole.

Nimy Resources to hit the ASX

Nimy Resources raised around $6.4 million through its initial public offering (IPO).

That was within its expected range of between $6 million and $7.5 million.

To do so, it sold around 32 million Nimy shares for 20 cents apiece.

At the time of listing, the company will have around 114 million shares outstanding. Thus, the company has an expected market capitalisation of approximately $22.8 million.

Over the 2021 financial year, the company brought in $90,517 in revenue and recorded a pre-tax loss of $677,971. It ended the financial year with $972,664 of cash in the bank and $631,762 of total equity.

Nimy Resources hasn’t provided the market with earnings guidance going forward. It states that, due to the current status of its project and the nature of mineral exploration and development, its directors don’t believe it’s appropriate to forecast its future earnings.

It likely goes without saying, all eyes will be on Nimy Resources and its share price when it floats on the ASX this afternoon.

The post Nickel explorer Nimy Resources (ASX:NIM) lists on the ASX today. Here’s what you need to know appeared first on The Motley Fool Australia.

More reading

• What are Kogan (ASX:KGN) shares really worth? Here’s what Scott Phillips says
• These are the 10 most shorted ASX shares
• Regis Resources (ASX:RRL) share price falls despite upbeat exploration update
• Fortescue’s push to axe diesel subsidies could cost ASX miners billions
• 5 ASX shares that could slump this week

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 Kogan.com Ltd (ASX: KGN) share price has been under pressure in 2021.

Since the start of the year, the ecommerce company’s shares have lost 53% of their value. This has been driven largely by inventory issues after management failed to predict a slowdown in sales once bricks and mortar stores reopened.

This led to significant inventory issues, which weighed heavily on its margins and ultimately the Kogan share price.

Is the Kogan share price good value now?

Given the weakness in the Kogan share price this year, investors may be wondering if it is good value now.

To address this question, we asked Motley Fool’s Chief Investment Officer Scott Phillips for his thoughts on valuing Kogan’s shares. Phillips said:

“Kogan, and other companies with fast growing sales, can be difficult beasts for investors to accurately value. The unknowns include the rate of annual growth, in the short-medium term, and for how long each company can continue to grow at those elevated rates, before they become mature companies and growth becomes more moderate. Obviously the longer, and stronger, that growth, the better.

The next consideration is the level of profitability a company can sustain, usually expressed as a percentage of sales. The higher the better, obviously. Here’s where it gets tricky. If you think Kogan can grow sales at, say 20% per annum for 5-10 years, before slowly falling to, say 5% per year over the decade thereafter, and can deliver a profit margin of close to 10% of sales, you have a much more valuable business than if growth falls to 5% p.a. within the next couple of years, and it can only bank 6% of that as profit.”

The difficulties of growth investing

Scott Phillips highlighted Kogan’s shares as an example of the inherent difficulties of growth investing.

“The challenge for investors is that even those two scenarios — and the range of potential outcomes is even wider — present very different valuation stories. That’s ‘growth investing’ for you — it’s impossible to be precisely accurate, so you’re aiming to be roughly right. And Kogan has one more wrinkle: some costs in the most recent results should be ‘one-offs’ if management is right, meaning the starting point is unusually low, and it’s best to adjust for those factors if you don’t think they’ll happen again in future.”

The bottom line

Overall, Phillips notes that whether or not the Kogan share price proves to be cheap will depend on which scenario unfolds. He concluded:

“Bottom line, though: If you think Kogan can deliver something closer to the first scenario, it’s probable that shares are cheap, today. If they can’t, and the future looks closer to the second, there may not be much valuation upside from here.”

The post What are Kogan (ASX:KGN) shares really worth? Here’s what Scott Phillips says appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Why is the Kogan (ASX:KGN) share price still dropping? Scott Phillips weighs in
• These are the 10 most shorted ASX shares
• Why are Kogan (ASX:KGN) shares being shorted in November?
• Finally, a good day for the Kogan (ASX:KGN) share price. What’s happening?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool’s chief investment officer Scott Phillips owns shares in Kogan.com ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com 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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Once a week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues to be the most shorted ASX share after its short interest rose to 12.3%. This high level of short interest appears to be due to valuation concerns and rising COVID cases in Europe.
• Kogan.com Ltd (ASX: KGN) has seen its short interest rise week on week again to 11.5%. Short sellers don’t appear to believe this ecommerce company’s performance is improving as quickly as hoped.
• Redbubble Ltd (ASX: RBL) has short interest of 10.5%, which is up slightly week on week. Short sellers have been increasing their positions in this ecommerce company since the release of disappointing quarterly update.
• Webjet Limited (ASX: WEB) has short interest of 9.3%, which is up meaningfully week on week. Short sellers seem confident this online travel agent’s half year results this week will disappoint.
• Zip Co Ltd (ASX: Z1P) has seen its short interest rise to 9.2%. Reports of rising fraud in the BNPL industry and increasing competition could be weighing on investor sentiment.
• Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.9% of its shares held short, which is up week on week again. This defence and space company recently downgraded its earnings guidance.
• Mesoblast limited (ASX: MSB) has short interest of 8.7%, which is down week on week. This biotech company’s precarious financial position is likely to be weighing on sentiment.
• Cooper Energy Ltd (ASX: COE) has 8.5% of its shares held short, which is up week on week again. A disappointing performance from its Sole Gas operation appears to be behind this high level of short interest.
• Inghams Group Ltd (ASX: ING) has 8.4% of its shares held short, which is flat week on week. This appears to be due to concerns that this poultry producer could be negatively impacted by higher grain costs.
• BHP Group Ltd (ASX: BHP) is back in the top ten with 7.1% of its shares held short. This appears to have been driven by weakness in iron ore prices.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

More reading

• Fortescue’s push to axe diesel subsidies could cost ASX miners billions
• Why all eyes will be on the Webjet (ASX:WEB) share price next week
• 2 high yield ASX dividend shares named as buys
• Could the BHP (ASX:BHP) share price be a big dividend income opportunity?
• Why Magnis, Nanosonics, WiseTech, and Zip shares are dropping

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 shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited and Kogan.com ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Webjet 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 Regis Resources Limited (ASX: RRL) share price is falling on Monday morning.

At the time of writing, the gold miner’s shares are down 2% to $2.09.

Why is the Regis Resources share price falling?

The fall by the Regis Resources share price on Monday appears to have been driven by weakness in the gold price offsetting an upbeat exploration update from the Duketon Belt and Albany Fraser Belt (Tropicana).

In respect to its update, according to the release, recent drilling activities have delivered strong results at Duketon and Tropicana.

Highlights from Duketon include exceptionally high-grade intervals at Rosemont, thick, high-grade intersections at Ben Hur, and further strong mineralisation at Garden Well. Management notes that the latter demonstrate the potential for establishing a new underground resource and potentially an additional underground production area.

As for Tropicana, management revealed that strong results at Boston Shaker continue to demonstrate down-plunge growth potential up to 200 metres below the current resource envelope and promising regional drilling has identified the prospective Tropicana mine geological sequence in areas previously not recognised.

Management commentary

Regis Resources’ Managing Director, Jim Beyer, was pleased with the results from the company’s drilling campaign.

He commented: “Our investment in organic growth continues to return positive results at both Duketon and Tropicana. This supports our view that these operations will have mine lives well in excess of the current reserves.”

“Regional exploration continues to advance early stage projects, showing the potential for further discoveries in the belts. Drill testing of target areas is identifying strong vectors to economic mineralisation and increasing the geological understanding in new highly prospective but poorly explored areas,” he added.

The Regis Resources share price has been out of form this year. The company’s shares are down 45% from $3.76 since the start of the year.

The post Regis Resources (ASX:RRL) share price falls despite upbeat exploration update appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
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• 5 things to watch on the ASX 200 on Thursday
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• Top brokers name 3 ASX shares to sell 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. 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 miners could lose sizeable cashflow from the government as Fortescue Metals Group Limited (ASX: FMG) campaigns for the diesel subsidy to be shifted to green energy instead.

The Australian has reported that Fortescue Chair Dr Forrest has been meeting with senior government figures, such as the Prime Minister Scott Morrison, that the subsidy money could be used to “retool Australia, to support green hydrogen, green ammonia and green electricity”. He has also reached out to Labor, to try to achieve bipartisan support.

If the subsidy were ended to Australia’s miners, it could mean that the government would keep between $5 billion to $7 billion a year. It’s estimated that the tax credit total could reach $8.9 billion by 2024.

But most of that subsidy money goes to a select few, large companies like BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue. Fortescue is responsible for around $300 million, with BHP and Rio Tinto reportedly getting even more. Newcrest Mining Limited (ASX: NCM) was another that was named as a sizeable recipient.

Dr Forrest is reportedly proposing that the rebate start to be tapered off from 2025.

Miners aren’t the only ones that claim this diesel credit

The Australian reported that mining companies claim approximately 45% of the total subsidy.

Dr Forrest’s plan reportedly would allow small, medium-sized and family businesses to be able to claim a rebate, as would most agricultural businesses and tourism operators, and that it would be phased out over five years.

It was noted that environmental groups call this rebate a subsidy for fossil fuels, whilst miners say it’s important for Australian industry to be competitive on costs.

Efforts to go green by Fortescue and the world

The Australian reported that last month, Goldman Sachs analysts has calculated that decarbonising its Pilbara operations could cost Fortescue over US$7 billion.

However, Dr Forrest has said repeatedly that Australia (and the world) doesn’t really have a choice and it’s better to do it sooner rather than later.

I will refer to Fortescue Future Industries in a moment, but the large shift of decarbonisation is identified by some investors as a large opportunity, not just purely a cost. For example, Nick Griffin from Munro Partners, recently said to Livewire:

I’d just leave you with this: we think it’s roughly a $30 to $50 trillion expense to de-carbonise the planet. And that’s a $30 to $50 trillion revenue opportunity for the companies that can provide these solutions.

This has potential to be as big an opportunity as the internet was for the last 20 years. That’s the one that we sit and look at today, and go, “This is what excites us about the next 10 years of doing our job.

Fortescue Future Industries (FFI) is the green division of the company that is aiming to take a global leadership position in the renewable energy and green products industry. It wants to make green hydrogen the most globally traded seaborne commodity in the world.

Fortescue says FFI is a key enabler of the ASX miner’s decarbonisation strategy, including Fortescue’s recently announced industry leading target to achieve net zero scope 3 emissions by 2040.

FFI’s teams have made progress on a number of areas.

There has been the successful combustion of ammonia in a locomotive fuel.

It has completed the design and construction of a combustion testing device for large marine (ship) engines with pilot test work underway and a pathway to achieve completely renewable green shipping fuel.

It has finalised the design of a next generation ore carrier (ship) that will consume renewable green ammonia.

FFI has been testing battery cells to be used on Fortescue haul tricks.

It has designed and constructed a hydrogen powered haul truck and a hydrogen powered drill rig for demonstration, with systems testing underway.

Fortescue Future Industries has successfully completed production of high purity green iron from Fortescue ores at low temperature in a continuous flow process.

Finally, it has successfully initially trialled to used waste from the green iron ore process noted above, with other “easily source materials” to make green cement.

The post Fortescue’s push to axe diesel subsides could cost ASX miners billions appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• Why has the Rio Tinto (ASX:RIO) share price fallen in a hole over the past month?
• Top brokers name 3 ASX shares to buy next week
• Own Fortescue (ASX:FMG) shares? Here’s the latest threat to Twiggy’s $100b hydrogen plans
• 2 high yield ASX dividend shares named as buys

Motley Fool contributor Tristan Harrison owns shares of Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Normally, we investors can’t say with much certainty whether an ASX share will rise or fall in value at any point in the future. If an investor could, they’d probably be at the top of the Rich List, and we’d know all about it. But there is one particular circumstance we can point to in which it is fairly easy to predict a share price fall. That would be the ex-dividend date.

When an ASX income-producing share pays a dividend, it needs to inform the market of the date on which any new shareholders will be cut off from receiving the said dividend. This is known as the ex-dividend date. And because new shareholders can’t receive this dividend, its value leaves the company’s share price. This usually results in a commensurate share price drop.

So here are 5 ASX dividend shares that will experience this in the coming week. So keep your eyes out for that ex-dividend slump.

5 ASX shares going ex-dividend this week

Elders Ltd (ASX: ELD)

Our first dividend share trading ex-dividend this week is agri-business Elders. Elders is scheduled to trade ex-dividend today, meaning that you had to have owned shares on Friday at the latest if you are to receive this company’s final dividend of 22 cents per share, 20% partially franked, that will be paid out on 17 December. At Friday’s closing share price of $11.79, Elders shares have a dividend yield of 3.56%.

Amcor CDI (ASX: AMC)

Packaging giant Amcor is another share that is scheduled to trade ex-dividend this week, on Tuesday to be precise. Shareholders can look forward to receiving Amcor’s unfranked quarterly dividend of 16 cents per share on 14 December. At Amcor’s last share price of $16.60, this company has a dividend yield of 3.78%.

Whitefield Limited (ASX: WHF)

One of the ASX’s ‘old-school’ listed investment companies (LICs), Whitefield is another ASX share trading ex-dividend this week. Whitefield’s fully-franked interim dividend of 10.25 cents per share will hit investors’ bank accounts on 10 December after the company trades ex-div on Wednesday. At Whitefield’s last share price of $5.83, this LIC has a dividend yield of 3.52%.

GrainCorp Ltd (ASX: GNC)

Another agri-business going ex-dividend on Wednesday is GrainCorp. Investors can look forward to receiving GrainCorp’s final dividend of 10 cents per share, fully franked, on 9 December. At Friday’s last share price of $7.20, GranCorp shares offer a yield of 2.5%.

Nufarm Ltd (ASX: NUF)

Our last ASX dividend share for today is another agricultural company in Nufarm. This chemicals manufacturer will be sending its final and unfranked dividend of 4 cents per share out the door on 17 December after it trades ex-dividend on Thursday this week. At the last share price of $4.81, Nufarm had a dividend yield of 0.58%. Nuf said.

The post 5 ASX shares that could slump this week appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares Goldman Sachs rates as conviction buys
• Why Chalice Mining, CBA, Nufarm, and SEEK shares are sinking
• Nufarm (ASX:NUF) share price falls despite stellar profit growth
• Macquarie warns the next ASX market downturn could come as soon as February
• 5 things to watch on the ASX 200 on Tuesday

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 shares of and has recommended Amcor Limited. The Motley Fool Australia has recommended Elders 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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