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The Field Solutions Holdings Ltd (ASX: FSG) share price is heading north after the company announced its completed capital raise.

During late-afternoon trade, the regional telco carrier’s shares are swapping hands for 18 cents a pop, up 9.09%.

Details of the share placement

Investors are buying up Field Solutions shares after the company released the latest results of its capital raising efforts.

In the release, Field Solutions advised it has received firm commitments to raise $20 million through an institutional placement. The offer was presented to institutional and professional investors at an issue price of 16.5 cents per share. This equates to approximately 121.2 million new ordinary shares being added to the company’s registry.

Field Solutions highlighted that it received applications totalling more than $40 million, reflecting strong interest from institutional and sophisticated investors.

The company said it would allocate the proceeds towards funding the company’s growth strategy and providing flexible opportunities when accelerating its network expansion.

Field Solutions will use its existing placement capacity to create the new shares. Under listing rule 7.1, this allows up to an additional 15% of its total shares to be issued without shareholder approval (78,472,768 shares). The company will use an extension to the listing rule (listing rule 7.1A) to issue the remaining shares with the additional 10% capacity (55,648,512 shares).

What did management say?

Field Solutions CEO Andrew Roberts said:

The additional funding will allow us to support working capital in the roll-out of our Regional Australia Network (RAN), covering 6 states and allow capability to extend further if opportunities arise to increase coverage and capability.

… To have outstanding support provided by significant cornerstone funds not previously invested, and further support from existing holders, this is a great boost to see such confidence in our vision to build a network for rural, regional and remote Australia.

Field Solutions share price review

Since listing in October, Field Solutions shares have accelerated to post a gain of more than 300%. The company’s share price is about 14% off its 52-week high of 21 cents reached last month.

Based on today’s price, Field Solutions presides a market capitalisation of roughly $100.1 million, with around 556.5 million shares on issue.

The post Here’s why the Field Solutions (ASX:FSG) share price is roaring 9% today appeared first on The Motley Fool Australia.

More reading

• QMines (ASX:QML) share price jumps 14%, up 30% in 6 days
• Forrestania Resources (ASX:FRS) share price rockets 45% on IPO
• Why Damstra, EML, Orica, & South32 shares are storming higher
• These 3 ASX resources shares are going ex-dividend today
• Why the Sandfire (ASX:SFR) share price is lifting 5% today

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

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The Qmines Ltd (ASX: QML) share price is trading 14% up on the day and is now changing hands at 40 cents each.

Qmines shares entered a trading halt as of 11:30am today, however were changing hands at 39 cents apiece prior to this.

Trading has since commenced after the company gave its reasoning for the halt, as is discussed below.

It’s been an impressive week for Qmines, both on the company front and with its share price.

It has gained around 60% in the past 6 days of trade, well ahead of the S&P/ASX 200 index (ASX: XJO).

Let’s uncover what’s been driving the Qmines share price of late.

Quick rundown on Qmines

Qmines is on the quest to become Australia’s first zero carbon producer of copper and gold.

The company made its debut on the ASX this year at 27 cents per share. Its share price then went absolutely bonkers afterwards, soaring 77% to 48 cents in a matter of weeks post-IPO.

Its flagship project up at the historic Mount Chalmers copper and gold mine has been in production on-and-off again since 1860, under a number of former operators.

At the time of writing, Qmines has a market capitalisation of almost $39 million.

What’s fuelling the Qmines share price lately?

To set the scene here we have to take a walk back into last month, to where Qmines announced it had intersected new mineralisation at the Mount Chalmers site.

Prior to this, it had exchanged on 2 separate contracts to acquire just over 40 acres of land right next to Mount Chalmers.

It will expand drilling there, after historical soil sampling displayed signs of copper in the ground.

And this leads us back into the present day, where the QMines share price has jumped from a low of 29.5 cents on 22 September right up to today’s market price, a 32% climb.

Stepping back and taking a look at the price of copper, we see it made a substantial leap on 21 September from US$4.0255/lbs to its recent high of US$4.308 per pound a week later.

It has since come back down some and now trades at US$4.207/lbs, still 4% above its August lows.

Qmines is an ASX resource share that produces copper, meaning it is considered a price taker. As such, its share price can and does fluctuate with volatility in the commodity markets.

Earlier today, reports highlighted that the Qmines’ combined projects could have up to $1 billion worth of copper underneath them, at the current pricing.

However, QMines shares went into a trading halt earlier today as mentioned – and the reason was due to the company’s “statement to the in-ground valuation as this is not permitted under the JORC code”.

The company requested that the $1 billion valuation reference be removed from the article, which has been completed, as per the release.

Qmines also notes that “there is no reasonable basis for making these statements under the listing rules or JORC code” that governs these kinds of statements for public companies.

The company is adamant that investors “should not rely on the retracted information as a basis for an investment decision”.

Nonetheless, the commentary suggests that Qmines’ feels it is sitting on a plethora of copper resource.

So putting it all together, if we add Qmines’ recent activity at Mount Chalmers to the recent rally in copper prices, the story begins to unfold as to what’s driving the Qmines share price lately.

Qmines share price snapshot

The Qmines share price has chugged along nicely this year, having gained 30% since first listing in May. It’s jumped a further 18% into the green this past month alone, helped by last week’s 32% climb.

Each of these results have outpaced the broad index’s return of approximately 15% this year to date.

The post QMines (ASX:QML) share price jumps 14%, up 30% in 6 days appeared first on The Motley Fool Australia.

More reading

• Forrestania Resources (ASX:FRS) share price rockets 45% on IPO
• Why Damstra, EML, Orica, & South32 shares are storming higher
• These 3 ASX resources shares are going ex-dividend today
• Why the Sandfire (ASX:SFR) share price is lifting 5% today
• Why is the Li-S Energy (ASX:LIS) share price tumbling 13% today?

The author Zach Bristow 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 Forrestania Resources Ltd (ASX: FRS) share price is taking off on the company’s ASX debut.

Forrestania is in the business of mineral exploration and development. It’s focused on gold, lithium and nickel in Western Australia.

It owns 3 projects: the Forrestania Lithium, Gold, and Nickel Project; the Southern Cross Gold Project, and the Leonora Gold Project.

Forrestania’s stock debuted on the ASX at 1pm this afternoon.

At the time of writing, the Forrestania share price is 29 cents, 45% higher than its prospectus’ offer price.

However, today’s intraday high saw it trading at 39 cents, representing a 95% increase on its offer price.

Let’s take a closer look at Forrestania Resources and its first day on the ASX.

Forrestania share price soars on ASX debut

The Forrestania share price is performing well on its first day on the ASX.

Under the company’s prospectus, 25 million Forrestania shares were offered for 20 cents apiece. Thus, Forrestania’s Initial Public Offering (IPO) earned it around $5 million.

The company now has 51 million shares on offer. It also has an enterprise value of around $5 million.

Under its prospectus’ offer, Forrestania had an expected market capitalisation of around $10.2 million. At its current share price, the company’s market capitalisation is $14.7 million.

The company will be putting the cash from its IPO towards exploration and development at its projects. It will also put some towards repaying its debt and paying its vendors.

The company bought the Forrestania Project from Firefly Resources Ltd (ASX: FFR).

Following its IPO, Forrestania will conduct an exploration program for known specialised lithium-caesium-tantalum pegmatites at the project.

Previous drilling at the Forrestania Project returned assay results including:

• 33 metres grading 3.2% lithium oxide from 69 metres, including 13 metres at 4% lithium oxide from 81 metres

The purchase cost Forrestania $50,000, as well as 12% of its shares. That places Firefly as Forrestania’s largest shareholder.

Another major shareholder is investment company Citycorp Nominees, which has a 9.2% holding in Forrestania.

The post Forrestania Resources (ASX:FRS) share price rockets 45% on IPO appeared first on The Motley Fool Australia.

More reading

• QMines (ASX:QML) share price jumps 14%, up 30% in 6 days
• Why Damstra, EML, Orica, & South32 shares are storming higher
• These 3 ASX resources shares are going ex-dividend today
• Why the Sandfire (ASX:SFR) share price is lifting 5% today
• Why is the Li-S Energy (ASX:LIS) share price tumbling 13% 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is bouncing back and on course to record a strong gain. At the time of writing, the benchmark index is up 1.6% to 7,310.1 points.

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

Damstra Holdings Ltd (ASX: DTC)

The Damstra share price is up 6.5% to 91.5 cents. This follows news that the workplace management software company has signed an agreement to acquire TIKS Solutions for $18 million in cash and shares. The Australia-based workplace safety and compliance management company generated revenue of $4.14 million in FY 2021 and was free cash positive.

EML Payments Ltd (ASX: EML)

The EML Payments share price is up 3% to $3.86. This morning the payments company announced the completion of its acquisition of Sentenial. This follows approval by French and U.K. financial regulators. The deal will see EML take control of Sentenial’s open banking product suite, Nuapay, for an upfront enterprise value of $112.7 million. The deal also includes an earn-out component of up to $64.4 million.

Orica Ltd (ASX: ORI)

The Orica share price has jumped 14% to $13.74. Investors have been buying this commercial explosives company’s shares following the release of a broker note out of Morgans. According to the note, the broker has upgraded the company’s shares to an add rating with a $13.70 price target.

South32 Ltd (ASX: S32)

The South32 share price is up almost 4% to $3.52. This morning the mining giant announced the acquisition of an additional 25% shareholding in Mozal Aluminium in Mozambique from MCA Metals. South32 has exercised its pre-emptive rights to acquire the additional stake for US$250 million. This brings its ownership of the smelter up to 72.1%.

The post Why Damstra, EML, Orica, & South32 shares are storming higher appeared first on The Motley Fool Australia.

More reading

• Here are 3 ASX 200 shares topping the volume charts so far today
• Damstra (ASX:DTC) share price soars 10% on acquisition news
• Which ASX 300 shares are leading the way on Thursday?
• Orica (ASX:ORI) share price jumps 15% on broker upgrade
• ASX 200 (ASX:XJO) midday update: Zip shares rise on Microsoft deal, big four banks rebound

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 Damstra Holdings Ltd and EML Payments. The Motley Fool Australia owns shares of and has recommended Damstra Holdings Ltd and EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 index (ASX: XJO) is charging higher in afternoon trade and has gained 1.6% at the time of writing.

At the same time, the S&P/ASX 200 Resources index (XJR) is beating most of the pack, gaining around 2% since the open today.

In light of this, these 3 ASX resources shares are all going ex-dividend today. This means shareholders have until the closing bell today to buy these shares to qualify for the payments.

Here are the details.

Ci Resources Ltd (ASX: CII)

Diversified industrial company Ci Resources is set to pay a 1 cent per share final dividend to its shareholders on 29 October after going ex-dividend from today.

Ci Resources is rewarding shareholders with a total of 3 cents in dividends per share for CY21, after growing its net profit after tax (NPAT) a phenomenal 21,137% year over year to $4,600 million as shown in its preliminary FY21 report.

The earnings’ strength has helped Ci reinstate its final dividend after temporarily suspending the full program in FY20.

Despite the dividend restart, its payment to shareholders has crept down from 11 cents per share in FY17.

At the current market price, Ci Resources has a trailing 12-month dividend yield of 1.67%, and will trade on a forward yield of 0.8%.

PTB Group Ltd (ASX: PTB)

PTB Group, which specialises in turboprop engines for the aviation industry, paid $1.55 million in dividends during the financial year.

It is set to pay a 2.5 cents per share final dividend to shareholders, bringing its total FY21 dividend to 5 cents per share.

The company targets a dividend payout ratio of 30% to 50% of NPAT and was able to do so on its FY21 earnings results.

PTB Group’s dividend decision comes as little surprise after it gained a record 182% year on year jump in profit before income tax (PBIT) to over $16.6 billion for the year.

PTB also saw a record result in earnings before interest, tax, depreciation and amortisation (EBITDA) of $22.7 million, up 100% on the year. The company ended the quarter with a record cash balance of around $20 million.

As such, PTB Group’s shareholders will enjoy the 2.5 cents per share dividend payment into their brokerage accounts on 29 October as well.

Westgold Resources Ltd (ASX: WGX)

One other ASX resources share that is going ex-dividend today is West Australian gold mining company Westgold Resources.

The gold specialist, with a current market capitalisation of more than $708 million, marks its maiden dividend payment of 2 cents per share after going ex-dividend today.

Westgold is awarding shareholders the payout after gaining an FY21 revenue result of $517 million, which helped NPAT grow 122% year over year to around $77 million.

As this is Westgold’s first dividend ever, the board took a “pragmatic view” in assigning the payment, after the company’s impressive earnings figures.

Importantly, Westgold’s dividend is unfranked, meaning there may be tax implications that investors should familiarise themselves with.

Shareholders will realise Westgold’s inaugural dividend into their accounts in around 2 weeks time, on 15 October.

These 3 ASX resources shares are all set to pay scheduled dividends into the coming weeks.

The post These 3 ASX resources shares are going ex-dividend today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Gascoyne (ASX:GCY) share price is rocketing 23% today
• ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200

The author Zach Bristow 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 Sandfire Resources Ltd (ASX: SFR) share price has surged more than 5% higher on Thursday after a retail entitlement offer from the Aussie resources group.

Why the Sandfire share price is lifting 5% today

Sandfire today released its retail entitlement offer booklet for eligible shareholders. It comes as the Aussie mining and exploration company seeks to raise approximately $322 million from the fully underwritten offer.

The 1 for 1 pro-rata accelerated non-renounceable entitlement offer are being offered at $5.40 per share. At the time of writing, the Sandfire share price has climbed 5.4% higher to $5.42 per share.

In total, the Aussie miner is seeking to raise $1.248 billion from its latest equity raising. That comprises both an entitlement offer (institutional and retail) and institutional placement. Sandfire is looking to raise $963 million in the entitlement offer and a further $285 million from the placement.

Citigroup Global Markets Australia and Macquarie Capital Australia are underwriting the entitlement offer.

Today’s retail offer release has investors bidding up the Sandfire share price. The funds will go towards funding the group’s latest big ticket acquisition.

Shares in the Aussie copper producer were halted last Thursday as the company announced it had entered into a binding sale and purchase agreement with Trafigura and Mubadala Investment Company to acquire 100% of Minas De Aguas Tenidas (MATSA) on a consideration of US$1.86 billion.

The takeover will see Sandfire take control of the MATSA mining complex in Spain. It delivers the Aussie mining company an international site with an estimated 12 years mine life.

Sandfire is looking to use an $897 million debt facility secured by MATSA in conjunction with the $1.2 billion equity raise to finance the takeover.

Foolish takeaway

The Sandfire share price is climbing higher today in line with the retail offer price on offer to eligible shareholders. Shares in the Aussie copper miner are now up 6.5% year to date with a market capitalisation of a touch under $2 billion.

The post Why the Sandfire (ASX:SFR) share price is lifting 5% today appeared first on The Motley Fool Australia.

More reading

• Why Limeade, Paradigm, Sandfire, & Vita shares are falling
• Which ASX 300 shares are leading the way on Monday?
• ASX 200 (ASX:XJO) midday update: Fortescue jumps, Wesfarmers dealt takeover blow
• Leading brokers name 3 ASX shares to buy today
• The Sandfire (ASX:SFR) share price drops 13% on entitlement offer completion

Motley Fool contributor Ken Hall 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 Li-S Energy Ltd (ASX: LIS) share price has been tumbling lower on Thursday. Shares in the Aussie lithium playwe are down a whopping 13.7% despite no new announcements today.

So, what’s wreaking havoc on the recently-listed battery technology group on Thursday?

Why the Li-S Energy share price is tumbling 13% today

Let’s start with a little bit about Li-S Energy. The group launched a $34 million initial public offering (IPO) in early September. However, Li-S Energy was initially spun out of the diversified investment group PPK Group Limited (ASX: PPK).

Excitement over the huge market opportunity ahead led the Li-S Energy share price to surge upon listing on Tuesday.

Shares in the battery technology group climbed as high as $3.05 having been listed at $0.85 per share. The oversubscribed IPO turned out to be a hit as investors clambered to snap up shares in the Aussie small-cap.

However, there appears to be a hangover of sorts from that initial head price increase. The Li-S Energy share price is down over 13% today despite no news from the company.

In an interview with The Motley Fool, covered by Fool colleague James Mickleboro, Li-S Energy CEO, Dr Lee Finniear, commented on the IPO:

It’s wonderful to see Australian investors get behind home grown technology. We’ve been delighted with the market’s response to the listing and look forward to the future growth of the company.

Dr Finniear also noted the company’s significant market opportunity and was optimistic that EV manufacturers will be taking note of its technology.

With the massive growth forecast in the EV and battery market, and the demand for higher energy, lighter, safer batteries, we expect strong interest from EV manufacturers and others who are well aware of the limitations of existing lithium ion batteries.

Foolish takeaway

After rocketing higher on its first day on the markets, the Li-S Energy share price is returning back to earth on Thursday. Shares in the battery technology group are down more than 13% with investors watching closely to see how the company’s performance is in the coming months.

The post Why is the Li-S Energy (ASX:LIS) share price tumbling 13% today? appeared first on The Motley Fool Australia.

More reading

• Why BlueBet, Gold Road, Li-S Energy, & Myer shares are dropping
• Li-S Energy (ASX:LIS) share price up another 3% in second day of trading
• Why PPK (ASX:PPK) and Li-S Energy are this fund’s largest positions
• Li-S Energy (ASX:LIS) IPO booms amid excitement over huge market opportunity
• Li-S Energy (ASX:LIS) share price explodes 200% higher after ASX IPO

Motley Fool contributor Ken Hall 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 Pro Medicus Limited (ASX: PME) share price is surging higher on Thursday. Shares in the Aussie biotech group have climbed more than 5% in a sharp rebound from Wednesday’s session.

At the time of writing, the Pro Medicus share price is up 4.05%, trading at $54.71.

What’s with the Pro Medicus share price today?

Today’s share price move hasn’t been sparked by any news or announcements from the Aussie healthcare group. In fact, Pro Medicus hasn’t released any ASX announcements at all since September 2.

However, that hasn’t stopped investors piling into the company’s shares and bidding up the Pro Medicus share price on Thursday.

It’s possible today’s moves are a rebound after shares in the ASX healthcare informatics group slumped lower yesterday. The company’s shares have been under pressure amid broader weakness in the healthcare and technology sectors.

While yesterday had signs of profit-taking after year to date gains above 50%. Any fears of extended losses have subsided for now, however, as momentum has returned to the healthcare group’s shares on Thursday.

A rising tide?

There is also the old ‘rising tide raises all ships’ adage that could be at play. The S&P/ASX 200 Index (ASX: XJO) has added 1.82% at the time of writing in a good day for Aussie investors.

Strong investor sentiment could be playing its part with the Pro Medicus share price roaring back to life after a disappointing day of trade on Wednesday.

It’s yet another day of gains in what is shaping up to be a good year for shareholders. Despite somewhat stagnating earlier this year, the company’s value has been steadily climbing since May.

Steady gains appear to have been supported by new contract signings including an 8-year, $14 million deal with The University of Vermont.

Foolish takeaway

It looks like the good times just keep on rolling for the Pro Medicus share price. Shares in the ASX biotech have now more than doubled in the last 12 months with gains of 104%.

The post The Pro Medicus (ASX:PME) share price is surging 5% on Thursday appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, Mineral Resources, Pilbara Minerals, & Pro Medicus shares are falling
• The healthcare sector is weighing on the ASX 200 on Tuesday
• 2 small-cap ASX shares with an edge over rivals
• Here are 3 reasons why Pro Medicus (ASX:PME) is a great ASX share to own
• Top brokers name 3 ASX shares to sell today

Motley Fool contributor Ken Hall 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 Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is having a rip-roaring day of trading on the ASX boards this Thursday so far. At the time of writing, the ASX 200 is up a very healthy 1.81% to 7,327 points.

Let’s dig a little deeper though, and check out the shares that are topping the raw trading volume charts so far today, according to investing.com.

3 ASX 200 shares topping the volume charts so far today

South32 Ltd (ASX: S32)

ASX 200 resources share South32 is our first cab off the rank today. This Thursday has seen an impressive 13.8 million South32 shares change hands thus far.

With no major news or announcements out of this diversified miner, we can probably put this volume down to the movements the South32 share price has seen today. This company is currently up a healthy 2.36% to $3.47 a share, almost certainly prompting the elevated trading volume we have seen.

Pilbara Minerals Ltd (ASX: PLS)

Our second share today is the ASX 200 lithium producer Pilbara Minerals. Pilbara has seen a hefty 16.48 million of its shares bought and sold so far this Thursday.

Again, there are no major developments out of the company so far. So we can probably put this high volume of shares down to the robust rise we see in the Pilbara share price at this point of the trading day. Pilbara is presently up 1.77% to $2.02 a share.

Beach Energy Ltd (ASX: BPT)

And our final and most traded ASX 200 share so far today goes to ASX 200 energy share Beach. Beach has been a popular share this week, and today it seems things are no different. A whopping 23.6 million BPT shares have found new owners so far.

Again, it seems to be all about that share price move with this company. Beach has seen a pretty massive surge in its valuation so far today, with the company’s shares up a pleasing 6.75% to $1.46 a share. As my Fool colleague Kerry discussed this afternoon, we largely have rising oil prices to thank.

The post Here are 3 ASX 200 shares topping the volume charts so far today appeared first on The Motley Fool Australia.

More reading

• Up 7%, the Beach Energy (ASX:BPT) share price is surging. Here’s why
• Which ASX 300 shares are leading the way on Thursday?
• ASX 200 (ASX:XJO) midday update: Zip shares rise on Microsoft deal, big four banks rebound
• Why are Pilbara (ASX:PLS) shares getting so much attention lately?
• Why the South32 (ASX: S32) share price is on watch today

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 Tempus Resources Ltd (ASX: TMR) share price is on a roller-coaster this week after the company released seemingly good news on Monday.

Before the ASX opened for this week, Tempus announced more positive assay results from its Elizabeth Gold Project.

Despite the seemingly good news, the Tempus share price slipped on Monday and continued falling on Tuesday and Wednesday, clocking up an 11.4% fall over the 3 days.

At the time of writing, the Tempus share price is 19 cents, having rebounded 8.57% on Thursday.

Let’s take a look at the news that might have driven the Tempus share price this week so far.

Tempus’ week so far

The Tempus Resources share price is soaring today after a tough start to this week.

On Monday, the company announced it suspects it’s intercepted a new gold vein at its Canadian Elizabeth Gold Project.

The company released assay results from 4 drill holes completed at the project, highlights of which included:

• 1 metre at 4.9 grams of gold per tonne from 40.1 metres and 0.7 metres at 9.1 grams of gold per tonne from 51.5 metres.

In one hole, the company found visible gold which could signify a previously undiscovered gold vein.

Tempus’ CEO Jason Bahnsen commented on the finding, saying:

When we get visible gold at Elizabeth, it can lead to ‘bonanza’ grade intersections as we’ve seen with previous holes announced from this years’ drilling.

Despite the positive update, the market sent the Tempus share price lower. However, that dip is being corrected today for no obvious reason.

Also worth noting, is the sheer number of Tempus shares that have been traded this week.

The first 3 sessions of this week saw between 934,387 and 974,430 Tempus shares swapping hands, and around 3.9 million have been traded today.

To put that into perspective, an average month sees around 1.7 million Tempus shares traded.

Tempus Resources share price snapshot

This week’s dip has added to Tempus’ struggles on the ASX.

Right now, the company’s stock is trading for 24% less than it was at the start of 2021. It has also dipped 5% since this time last year.

The post What’s happening with the Tempus (ASX:TMR) share price this week? appeared first on The Motley Fool Australia.

More reading

• Qantas (ASX:QAN) share price set to take flight: fund manager
• These 4 ASX financial shares are going ex-dividend today
• Top brokers name 3 ASX shares to sell today
• Fortescue (ASX:FMG) share price up 3% as iron ore prices edge higher
• Up 7%, the Beach Energy (ASX:BPT) share price is surging. Here’s why

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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