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The Metalstech Ltd (ASX: MTC) share price is soaring today after the company released an update on its lithium spin-out plans.

Metalstech has set a date for its shareholders to vote on the spin-out, which would see the company’s lithium assets held under Winsome Resources.

If passed, Metalstech shareholders will receive 1 Winsome share – worth 20 cents – for every 3.5 Metalstech shares in their portfolio.

Right now, the Metalstech share price is 28.5 cents, 16.33% higher than its previous close.

Let’s take a closer look at today’s news from the lithium, cobalt, and gold exploration company.

Shareholders to vote on lithium spin-out

The Metalstech share price is soaring today after the company announced more news of its planned lithium spin-out.

As part of the spin-out, the company will be giving its shareholders $9 million worth of Winsome shares for free.

Metalstech’s shareholders will receive a combined 45 million shares in Winsome.

Shareholders will have the opportunity to vote for or against the spin-out on 4 October. Metalstech has already received indications of support for the spin-out from its major shareholders.

It has previously announced $3 million of Winsome shares will be included in a cornerstone subscription by Lithium Royalty Corp.

Metalstech has also previously stated Winsome’s initial public offering (IPO) will be valued at between $12 million and $18 million.

Lithium Royalty Corp has also paid Metalstech $6.65 million for a gross revenue royalty over the Cancet, Adina, and Sirmac-Clapier lithium assets.

Metalstech share price snapshot

Today’s gains included, the Metalstech share price has soared around 45% since the start of 2021.

It is also about 60% higher than it was this time last year.

At its current share price, the company has a market capitalisation of around $49 million. It has approximately 158 million shares outstanding.

The post Why the Metalstech (ASX:MTC) share price is rocketing 16% on Friday appeared first on The Motley Fool Australia.

More reading

• Why the MetalsTech (ASX:MTC) share price is soaring 15% today

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

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The ClearView Wealth Ltd (ASX: CVW) share price has bolted out of the gates this morning.

Shares in the insurance and wealth management company surged more than 15% higher in early trade and are currently up 14.26%, trading at 62 cents.

Let’s take a look at what ClearView announced.

Time for a strategic review

Investors have pushed the ClearView share price higher after the company announced its intentions to conduct a strategic review earlier today.

The company highlighted that FY21 has been a transformational year and the business has achieved a number of milestones.

Following an evaluation and discussion with the company’s largest shareholder, Crescent Capital Partners, the ClearView board decided to carry out the strategic review process.

ClearView said the review would focus on enhancing customer and policyholder outcomes.

The company also aims to achieve a long-term shareholding base, adding it would consider a change of control as part of the strategic review.

The company will continue to keep shareholders informed in accordance with its continuous disclosure obligations.

ClearView milestones for FY21

ClearView noted various milestones outlined in its full-year results for FY21 had put the company in a strong position.

These milestones include;

• Strong balance sheet and capital base with net cash and investments of $374m as at 30 June 2021
• Raising of $75 million of Tier 2 capital and completion of other capital management initiatives in FY21
• Solid business performance in FY21 in a challenging environment
• Declaration of a fully franked FY21 cash dividend of 1 cent per share
•  Commencement of multi-year life insurance transformation project.

ClearView share price snapshot

ClearView is a diversified financial services company that partners with financial advisers to help clients.

The company operates in 3 separate business segments: life insurance, wealth management and financial advice.

The ClearView share price has had a stellar year, soaring more than 50% since the start of 2021. The company’s shares are also up 76.29% over the past 12 months.

The post ClearView Wealth (ASX:CVW) share price surges 15% on strategic review appeared first on The Motley Fool Australia.

More reading

• Up 29% this week, the Boss Energy (ASX:BOE) share price is soaring again
• Here’s why the Nova Minerals (ASX:NVA) share price is up 13% on Friday
• What is the outlook for the Westpac (ASX:WBC) share price?
• AMA Group (ASX:AMA) share price drops 6% following media criticism
• The Pilbara Minerals (ASX:PLS) share price is up 5% on Friday

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

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The Boss Energy Ltd (ASX: BOE) share price is charging higher again today. Shares are currently trading at 22 cents, up 10% from yesterday’s closing price.

Below we take a look at what’s driving ASX investor interest in the uranium explorer.

What’s driving ASX investor interest?

There is no news out of the company today. However, the Boss Energy share price closed up more than 8% yesterday after the explorer reported on its plans to launch a seismic reflection program at its Honeymoon Uranium Project, located in South Australia.

Seismic surveying isn’t commonly used in the exploration of shallow minerals. Historically it’s been more the realm for crude oil exploration. But Boss says it will enable faster drilling, lower the environmental impact, and cut exploration costs.

Boss intends to survey 2 promising zones it previously identified in a drilling program with the intent to grow its uranium inventory.

With no new releases out of the company, it appears investor sentiment is still buoyed by the pending rollout of the modern seismic reflection system, and perhaps the fairly bullish outlook for uranium in a world looking to rapidly ween itself off fossil fuels.

Boss Energy share price snapshot

The Boss Energy share price has been a stellar performer in 2021, up 110%. That compares to a gain of 12% on the All Ordinaries Index (ASX: XAO).

Over the past month, Boss shares have gained 29%.

The post Up 29% this week, the Boss Energy (ASX:BOE) share price is soaring again appeared first on The Motley Fool Australia.

More reading

• Why the Boss Energy (ASX:BOE) share price is soaring 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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The Nova Minerals Ltd (ASX: NVA) share price has jumped out of the starting blocks in early trade on Friday.

Nova shares are now exchanging hands at 13 cents apiece, a 13% gain from the open.

What’s up with the Nova Minerals share price today?

The Nova Minerals share price is on the move after the company released a key announcement regarding its current infill drilling program.

The announcement expands on an update provided to investors on 1 September regarding the same infill program.

In Friday’s release, Nova advised it had confirmed the “continuity of mineralisation” within the “Korbel main resource” as a part of its flagship Estelle Gold project.

Nova explained that infill drilling at the site is “designed to prove up inferred resource” and also “extend strike length of resource”.

As a result of the drilling, Nova advised that the Korbel Feeder structure has “significant scale with high grade ‘blow out’ zones within the continuous mineralisation”.

Nova advised that “aggressive infill and extension drilling” is still ongoing at Korbel. The company is focused on the goal of “substantially increasing the 4.7 Moz resource” at the site to a size and confidence to “expedite feasibility studies”.

What did management say?

Speaking on the announcement, Nova CEO, Christopher Gerteisen said:

The infill diamond drilling at Korbel is showing strong support and confidence in the consistency and continuity of gold mineralisation in the Korbel’s large mineralised system. The significant intercepts we continue to intersect within the high-grade feeder zone are very encouraging indeed. We have almost 30 holes in the lab awaiting assays and with drilling ongoing at a fierce pace more results will continue to stream in every week.

Touching on the company’s growth vision, Gerteisen added:

Nova’s multi-pronged drilling strategy is designed to advance the Korbel Main deposit towards being a bankable project by 2023. We are focusing on proving up the resource to Indicated status, which can then translate into reserve ounces for our planned starter operation. At the same time, we are pushing forward the resource development program at the RPM prospect and unlocking the wider Estelle Gold District, with additional prospects rapidly coming on line. We aim to grow the global resource inventory and advance the Korbel project in parallel.

Nova Minerals share price snapshot

The Nova Minerals share price has had a choppy year to date, posting a loss of 19% since January 1. Despite this, Nova shares have climbed 88% into the green over the last 12 months.

This has outpaced the S&P/ASX 200 index (ASX: XJO)’s return of about 25% over the past year.

At the time of writing Nova Minerals has a market capitalisation of $193 million.

The post Here’s why the Nova Minerals (ASX:NVA) share price is up 13% on Friday appeared first on The Motley Fool Australia.

More reading

• Why the Nova Minerals (ASX:NVA) share price is down 19% in a month

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 Westpac Banking Corp (ASX: WBC) share price has had a fairly robust year so far in 2021.

Whereas the S&P/ASX 200 index (ASX: XJO) has climbed about 12.4% since 1 January, Westpac shares are more than 32% in the green.

So, what’s the outlook for the oldest of Australia’s big 4 banks?

Westpac has a market capitalisation of $95.8 billion and its share price has climbed a further 4.7% into the green over the past month.

Its shares did slide after the release of its third-quarter update back in August, however.

In the update, Westpac advised it had a CET 1 ratio of 12% on a pro forma basis, and that it is considering returning capital to shareholders as a result.

Despite this, the company also advised it was facing several upcoming headwinds.

For instance, Westpac stated it was facing net interest margin (NIM) pressures and forecasts its NIM for the second half of 2021 to come in lower versus the first half.

It also estimates that expenditures will be higher across the board in FY21 year over year.

Westpac also has a number of planned divestments set for the second half of 2021. These include the sale of Westpac LMI, Westpac Pacific, Motor Vehicle finance, and NZ Life Insurance.

Combined with the sale of General Insurance in July this year and Westpac Life Insurance in FY22, all transactions should deliver a 50 basis points “divestment benefit” to the company’s CET 1 ratio.

What else can be said for the outlook on Westpac shares?

Top brokers have also weighed in, and foresee more value in the Westpac share price. Leading broker Goldman Sachs recently retained its buy rating on Westpac shares and assigned a $29.03 price target.

Goldman likes the Westpac share price based on the company’s fundamentals and valuation. For instance, the investment bank sees the upcoming divestments as a way to release capital and bring operations “back towards Australia and New Zealand banking” — both positives in its eyes.

The broker’s words are echoed by analysts from Morgans, who have an add rating with a $29.50 price target on the Westpac share price. It also believes the company will reinstate its dividend.

The 4.7% gain in the Westpac share price over the past month compares favourably to the Commonwealth Bank of Australia (ASX: CBA) shares, down 0.19% and Australia and New Zealand Banking Group Limited (ASX: ANZ) shares, down 0.79%.

National Australia Bank Ltd. (ASX: NAB) is the leader amongst the big 4 over the past month, with an 8.12% gain. Macquarie Group Ltd (ASX: MQG) is also ahead, up 8.07%.

Foolish takeaway

The Westpac share price has posted a return of 47.5% over the past 12 months, which has outpaced the ASX 200’s gain of about 23%.

Although COVID-19 has plagued the Australian retail and commercial sectors, some experts say the Westpac share price may be set to deliver more gains yet.

It appears the company has made a number of capital budgeting decisions that may positively impact its share price over time, when the full effect of divestments and restructuring efforts are realised.

The post What is the outlook for the Westpac (ASX:WBC) share price? appeared first on The Motley Fool Australia.

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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 Macquarie Group 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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The AMA Group Ltd (ASX: AMA) share price is in the red today after the company knocked back media criticism.

AMA has acknowledged an unnamed media outlet’s claims its business is in dire straits by pointing to its current capital structure review.

The company hopes its review will help it beat a massive $99 million dint in its bottom line, caused by the impact of COVID-19 and reported on in the company’s financial year 2021 earnings report.

AMA’s response hasn’t seemed to quell the market. Right now, the AMA share price is 42 cents, 5.62% lower than its previous close.

Let’s take a closer look at today’s news that could be impacting the automotive smash repair and parts supplier’s shares.

What’s weighing on the AMA share price?

The AMA share price is tumbling after it rebutted media reports.

While the company acknowledged a publication had questioned its capital position, it only repeated news already published within its financial year 2021 report.

While AMA didn’t name the publication speculating on its finances, the Australian Financial Review (AFR) did report on them last night.

And it may be the AFR’s reporting that’s weighing on the AMA share price today.

Within the AFR’s article, it noted AMA needs to restructure its debt before the end of the year – as the company previously announced.

However, the AFR reported the company is strapped for cash, a claim AMA hit back against. The AFR also claimed AMA’s lenders are concerned with the company’s annual report.

AMA’s response to media speculation stated its banking syndicate is supportive of its business. It also noted AMA’s directors are confident the capital structure review will result in positive findings. It said:

While the business is experiencing COVID-19 related repair volume decreases, these impacts are being actively managed. With $64 million in cash as at 30 June 2021 and a low level of net debt versus normalised earnings (pre-COVID-19 effects), the company’s liquidity position remains strong. The group’s insurer partners remain supportive, and we look forward to returning to normal operations as restrictions ease.

Unfortunately, AMA reiterating its confidence hasn’t been enough to save its share price today.

The post AMA Group (ASX:AMA) share price drops 6% following media criticism appeared first on The Motley Fool Australia.

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• What is the outlook for the Westpac (ASX:WBC) share price?
• The Pilbara Minerals (ASX:PLS) share price is up 5% on Friday
• Bellevue Gold (ASX:BGL) share price dives 8% after successful $106 million placement
• Here’s why the ASIA (ASX:ASIA) share price is up 4% in the last week
• Why the BWX (ASX:BWX) share price is moving higher 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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It has been yet another positive day for the Pilbara Minerals Ltd (ASX: PLS) share price on Friday.

In morning trade, the lithium miner’s shares are up 5% to $2.32.

This means the Pilbara Minerals share price is now up 166% since the start of the year.

Why is the Pilbara Minerals share price charging higher?

Investors have been bidding the Pilbara Minerals share price higher today despite there being no news out of the company.

However, a number of lithium shares are rising along with Pilbara Minerals today. This appears to have been driven by bullish sentiment in the industry thanks to rising lithium demand and prices.

For example, at the time of writing, the Mineral Resources Limited (ASX: MIN) share price is up 3.5%, the Orocobre Limited (ASX: ORE) share price is up 4.5%, and the Vulcan Energy Resources Ltd (ASX: VUL) share price is up 6%.

Where next for its shares?

The good news for investors is that one leading broker believes Pilbara Minerals’ shares can still go higher from here.

Last week Macquarie retained its outperform rating and lifted its price target by 35% to $2.70. Based on the current Pilbara Minerals share price, this implies potential upside of 16.5% over the next 12 months.

Macquarie is positive on the company due to its long term production growth potential. It estimates that Pilbara Minerals’ production could grow at an average of 20% per annum over the next seven years thanks to staged developments.

It feels this puts the company in a great position to benefit from rising demand and strong prices for the battery making material.

So, even though Pilbara Minerals’ shares are up 166% this year, Macquarie doesn’t appear to believe it is too late for investors to jump in.

The post The Pilbara Minerals (ASX:PLS) share price is up 5% on Friday appeared first on The Motley Fool Australia.

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• ASX 200 miners dominate most traded shares on Monday
• Why the Pilbara Minerals (ASX:PLS) share price is surging 7% today
• Why ASX lithium shares are having a bumper start to the week
• The materials sector is leading ASX 200 shares 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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The Bellevue Gold Ltd (ASX: BGL) share price opened 8.47% lower to 86.5 cents on Friday after the company completed a $106 million institutional placement.

At the time of writing, the Bellevue share price is still firmly in the red, trading down 8.25% at 87 cents.

Bellevue on track to become significant gold producer

Bellevue announced that it received “firm commitments” for a $106 million institutional placement at 85 cents per share. This represents a 9.9% discount on its last closing price of 94.5 cents on Wednesday, 1 September.

The company said it would use the proceeds, together with its $200 million debt facility, to fund the development of the Bellevue Gold Project in Western Australia.

According to Bellevue’s current development timetable, the company is targeting its first gold production in the June quarter of 2023.

Despite today’s sharp decline, the Bellevue Gold share price has managed to bounce off intraday lows of 85 cents on significant volume. At the time of writing, 6.1 million shares have traded hands, compared to its 10-day average volume of 1.9 million.

Management commentary

Bellevue managing director Steve Parsons commented on demand for the placement, saying:

The strong demand from institutions around the world reflects the quality of the Bellevue Gold Project, the exceptional free cash flow generation forecast and the immense potential for further growth.

With the project fully-funded to production, we will proceed full-steam ahead with development while maintaining a strong emphasis on further growth by increasing and upgrading the mineral resources and ore reserves.

Parsons said ongoing exploration activities would unlock further value and scale to the project.

The stage two feasibility study is based on a resource of 1.5Moz, which represents just half of the total 3Moz resource base at Bellevue. We have already announced a host of high-grade drilling results outside that resource, we have another 14,000 samples awaiting assay and there are now two rigs drilling from underground.

This multi-pronged approach to expanding the resource is aimed at growing the mine life, which will increase the already-strong financial results forecast in this Study

Bellevue Gold share price snapshot

The Bellevue Gold share price is down 26.5% year-to-date.

This performance is in line with the broader ASX gold sector, with high profile names such as Northern Star Resources Ltd (ASX: NST) and Evolution Mining Ltd (ASX: EVN) down 26.9% and 26.3% year-to-date respectively.

The post Bellevue Gold (ASX:BGL) share price dives 8% after successful $106 million placement appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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 an intense week for the BetaShares ASIA Technology Tigers ETF (ASX: ASIA).

Earlier in the week, heightened scrutiny surrounded the exchange-traded fund (ETF) after China announced tightening restrictions on online gaming for children.

Despite the government announcement, the value of the ASIA ETF has climbed 4% over the course of the week.

What’s happening with the ASIA ETF?

While the China government’s decision initially took a toll on gaming and tech companies, most have sprung back during the latter half of the week.

According to publications, China has opted to reduce gaming time for people under the age of 18. Under the new rules, minors will only be allowed to indulge in online gaming between 8:00 pm and 9:00 pm on Fridays, weekends, and public holidays.

One would assume this would decrease traffic and revenue for gaming giants exposed to China. However, companies and analysts have remarked that these new regulations are unlikely to have a big monetary impact.

For example, NetEase Inc (NASDAQ: NTES) stated that less than 1% of its revenue is derived from people under 18. Meanwhile, analysts estimate that roughly 5% of Tencent’s gaming revenue is at the peril of the young demographic.

During the week, Tencent has gained 5.8%, Sea Ltd (NYSE: SE) surged 6%, and NetEase rallied 5.1%. All three of these companies make an appearance in the top 10 holdings of the ASX-listed ASIA ETF.

Funds sitting on the sideline

Additionally, Australia’s sovereign wealth fund — the Future Fund — has decided to reduce its positions in China shares. The decision comes as relations between Australia and China are challenged.

Prior to this statement, Alibaba Group Holding Ltd (NYSE: BABA) and Tencent had been the fund’s sixth and seventh largest positions. One can assume, that may no longer be the case.

At the time of writing, the ASIA ETF is trading 0.38% lower to $10.48 per unit.

The post Here’s why the ASIA (ASX:ASIA) share price is up 4% in the last week appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended Alibaba Group Holding Ltd. and Sea Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended NetEase. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. 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 BWX Ltd (ASX: BWX) share price is climbing in morning trade today, up 1.36% to $4.85.

Below, we take a look at the update of the share purchase plan announcement released by the personal care products company this morning.

What investors need to know about the share purchase plan

The BWX share price is gaining after the company revealed its share purchase plan (SPP), announced last Friday, opened to eligible shareholders in Australia and New Zealand this morning.

BWX will issue news shares at $4.85 per share. That’s priced the same as its institutional placement, which was completed on 1 September and raised $85 million. The BWX share price slipped on that day and closed yesterday at $4.79 per share.

The company notes the issue price of $4.85 per share is an 8.7% discount to the BWX share price of $5.31 at close on 26 August.

That was the last day of trading before the company went into a trading halt pending its announcement of the placement offer.

However, the BWX share price closed yesterday 10% below the 26 August close. It was also 1.3% below the share purchase plan offer.

The company expects to raise $15 million under the SPP. However, it retains the right to increase or decrease that depending on the level of demand.

Eligible shareholders can subscribe to up to $30,000 of new shares, without paying any brokerage or transaction costs.

BWX expects to close its SPP at 5pm AEST on Thursday, 23 September.

What management said

Commenting on the rationale behind the capital raising, BWX chairman Ian Campbell said:

The offer is being undertaken in conjunction with the placement to principally fund the acquisition of a 50.1% majority interest in Go To Enterprise Holdings Pty Ltd, the owner and operator of the ‘Go To’ skin care business by the company and associated costs.

Go-To is an Australian skin care range that provides simple, trusted and effective skin care to the ‘masstige’ market… BWX expects the acquisition of Go-To to be EPS accretive in the first full-year of the partnership with Go-To.

BWX share price snapshot

The BWX share price is up 18% in 2021. This compares to a gain of 14% on the All Ordinaries Index (ASX: XAO).

Over the past month, BWX shares are down 3%.

The post Why the BWX (ASX:BWX) share price is moving higher today appeared first on The Motley Fool Australia.

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• Why Blackmores, BWX, Fortescue, & Wesfarmers shares are dropping
• BWX (ASX:BWX) share price slips 6% on placement update
• BWX (ASX:BWX) share price halted following FY21 results and Go-To acquisition

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