The Great Boulder Resources Ltd (ASX: GBR) share price is accelerating on Thursday. This comes after the Australian miner released its drilling results at the Mulga Bill prospect within the Side Well Project.

At the time of writing, the Great Boulder share price is up a sizeable 68.6% to 14.5 cents apiece. In comparison, the All Ordinaries Index (ASX: XAO) is down 0.87% to 7,745 points.

What were the results?

In today’s statement, Great Boulder revealed the initial results from its third phase of reverse circulation (RC) drilling at the site in Western Australia.

The first assays returned significant grades of gold across 6 holes at the site. They are as follows:

• 14-metre intercept at 36.12 grams per tonne (g/t) of gold (Au) from a depth of 91 metres, including 3 metres at 149.89g/t Au from 91 metres (21MBRC034);
• 6-metre intercept at 24.33g/t Au from a depth of 132 metres, including 4 metres at 34.86g/t Au from 134 metres (21MBRC034); and
• 2-metre intercept at 9.61g/t Au from a depth of 100 metres (21MBRC036).

The bonanza results are the highest grades ever recorded at the Side Well Project and seem to have had a positive effect on the Great Boulder share price.

In total, 15 RC holes were drilled as part of the program. Nine holes remain to be evaluated and reported. The findings are expected in the next fortnight.

In addition, diamond drilling was completed in mid-August, with those results anticipated in October.

RC drilling is ongoing at Mulga Bill and air-core (AC) drilling is due to start at the Whiteheads Gold Project in Western Australia later this month.

Management commentary

Managing director Andrew Paterson commented on the results which are driving the Great Boulder share price:

These results demonstrate the high-grade potential at Mulga Bill. We’re learning more about the potential of this project with every drill program.

Given its location, size and the results we’ve seen to date I think Mulga Bill has the potential to have a plus million-ounce gold endowment.

These holes were drilled at the start of July, indicating assay results are currently taking 8 weeks to report. We have over 4,000 samples in the pipeline which we’ll be reporting as soon as results are available.

About the Great Boulder share price

Over the past 12 months, Great Boulder shares have posted gains of around 190% for investors. The Great Boulder share price is closing in on its multi-year high of 15 cents reached in late May 2021.

Great Boulder has a market capitalisation of roughly $44.4 million, with approximately 355 million shares outstanding.

The post Great Boulder (ASX:GBR) share price rockets 68% on drilling results appeared first on The Motley Fool Australia.

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

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It has been an eventful day for the Redbubble Ltd (ASX: RBL) share price on Thursday.

In early trade, the ecommerce company’s shares were down as much as 8.5% to $3.83.

The Redbubble share price has recovered since then and is now trading just 1% lower for the day at $4.15.

Why is the Redbubble share price bouncing around?

Investors were quick to sell down the Redbubble share price this morning after the company revealed that its Co-Founder, former CEO, and current Chairman, Martin Hosking, has been selling shares.

According to the release, Mr Hosking sold a total of 5 million Redbubble shares on-market on Wednesday for an average of $4.20 per share. This equates to a total consideration of $21 million for the shares.

As we saw recently with insider selling at Dicker Data Ltd (ASX: DDR), this provoked a negative (and potentially unwarranted reaction) from some investors.

Particularly given how Mr Hosking, like David Dicker from Dicker Data, still has a significant holding after the sale.

Why is he selling shares?

Redbubble provided the market with an explanation for the sale. Which, judging by the Redbubble share price recovery, appears to have eased nerves.

It explained: “The sale of shares by Mr Hosking has been undertaken to meet Mr Hosking’s financial commitments. On completion of the sale Mr Hosking will continue to hold an interest in 39.5 million Redbubble shares (representing 14.43% of all issued Redbubble shares), and he will remain as Redbubble’s largest shareholder. Mr Hosking has confirmed he remains committed as a long-term significant shareholder of Redbubble.”

Furthermore, with Redbubble shares down 30% in 2021, Mr Hosking certainly cannot be accused of selling at the top.

Is this a buying opportunity?

The team at Morgans believe the weakness in the Redbubble share price this year is a buying opportunity.

Late last month the broker upgraded the company’s shares to an add rating with a $4.83 price target. This implies potential upside of greater than 20% over the next 12 months.

The post Why the Redbubble (ASX:RBL) share price fell 8% today appeared first on The Motley Fool Australia.

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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 Dicker Data Limited. The Motley Fool Australia owns shares of and has recommended Dicker Data 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 West Wits Mining Limited (ASX: WWI) share price is tumbling in late morning trade, down 12% at time of writing.

Below we take a look at the ASX gold explorer’s latest market announcement.

What did the gold explorer report?

West Wits’ share price is falling today despite the company reporting “strong results” from the Definitive Feasibility Study (DFS) at Qala Shallows, stage 1 of its Witwatersrand Basin Project in South Africa.

This covers the first of 5 planned stages of development the company has at the Witwatersrand Basin Project.

West Wits reported a “substantial” Maiden Ore Reserve of 3MT at 2.88 grams of gold per tonne for 278,000 ounces. This includes a Proved Ore Reserve of 830,000t at 3.13g/t for 84,000oz.

The Life-of-Mine (LOM) for Qala Shallows is estimated at 17 years, with All In Sustaining Cost (AISC) estimated at US$1,144/oz of gold. The company forecast a 5.5-year payback period for the US$50 million peak funding requirement.

West Wits said it plans to commence development of its Qala Shallows Project this month. The stage 1 project represents some 40% of the total planned production and potential of the Witwatersrand Basin Project.

What did management say?

Commenting on the results of the DFS, West Wits managing director, Jac van Heerden said:

The completion of the DFS is a key achievement in West Wit’s journey of transforming from an exploration operation to a robust, mid-tier gold production company. Historically, the Witwatersrand Basin produced more than 35% of total global gold production and here we stand today, with positive DFS results, at the dawn of a gold revival in the same area.

West Wits share price snapshot

The West Wits share price is up 195% over the past 12 months, well outpacing the 24% gains posted by the All Ordinaries Index (ASX: XAO) over that same time.

2021 has seen the West Wits share price struggle, with shares down 26% year-to-date.

The post West Wits (ASX:WWI) share price tumbles 12% despite strong gold potential 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 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 PointsBet Holdings Ltd (ASX: PBH) share price has been out of form so far in 2021.

Since the start of the year, the sports betting company’s shares have fallen 7.5%.

Is the weakness in the PointsBet share price a buying opportunity for investors?

According to a note out of Goldman Sachs this week, its analysts believe the PointsBet share price is in the buy zone.

That note reveals that the broker has reiterated its buy rating but trimmed its price target slightly to $14.75.

Based on the latest PointsBet share price of $10.59, this price target implies potential upside of 39% over the next 12 months.

Why is Goldman bullish?

Goldman remains bullish on PointsBet due largely to its massive opportunity in the United States market.

It estimates that the company will have a US$37 billion total addressable market in the US by FY 2033. This represents a 37% compound annual growth rate between 2019 and 2033.

Its analysts commented: “We reiterate our Buy rating on PBH, with our thesis underpinned by i) PBH’s leverage to the burgeoning US Sports Betting and iGaming market, ii) our view that PBH is well-placed to achieve 10% share in states it operates in, iii) upside risk to LR sustainable margins in Aus and the US, iv) Scalability benefits ahead noting positive impacts from the NBCUniversal deal to come and iGaming synergies, and v) strong management team and execution track record.”

In addition, the broker believes the current PointsBet share price does not “reflect much upside from potential license wins in states such as NY.”

Though, given how the company recently missed out on a licence in Arizona, along with BlueBet Holdings Ltd (ASX: BBT), it is understandable why some investors aren’t getting carried away with this one.

Nevertheless, should the company be successful in gaining a New York licence, the broker appears to believe this will result in the PointsBet share price responding very positively.

The post Leading broker tips PointsBet (ASX:PBH) share price to rise 39% appeared first on The Motley Fool Australia.

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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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended BlueBet Holdings Ltd and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BHP Group Ltd (ASX: BHP) share price is currently the worst performer on the  S&P/ASX 200 Index (ASX: XJO) on Friday.

At the time of writing, shares in the iron ore major are down 6.73% to a 9-month low of $42.00.

Why is the BHP share price free-falling?

The good news is that the decline in the BHP share price on Friday is largely driven by its shares trading ex-dividend.

When a share trades ex-dividend, it means that new holders will not be eligible to receive an upcoming dividend payment.

A company’s share price typically falls on the ex-dividend date to the amount of the upcoming dividend.

About the BHP dividend

Investors who held BHP shares before the ex-dividend date will be eligible to receive the company’s final dividend.

BHP will be paying its shareholders a fully franked US$2.00 per share. This equates to $2.72 at current exchange rates.

The dividend will be paid out to eligible investors on Tuesday, 21 September.

At the time of writing, the BHP share price has declined $3.06. This means that about 88% of its decline is attributable to the dividend.

What else is weighing on BHP?

Broader market weakness and declines across the mining sector could also be driving down the BHP share price.

The ASX 200 is down 0.91% to 7,458.3 with most sectors in the red.

In addition, the S&P/ASX 200 Materials (INDEXASX: XMJ) index is the worst-performing sector on Friday, tumbling 2.70%.

BHP share price enters negative year-to-date territory

BHP shares hit an all-time high of $54.55 on 30 July, representing a year-to-date return just shy of 30%.

They are now down 2.35% this year following rapidly deteriorating iron ore prices and today’s ex-dividend.

There are increasing concerns that iron ore prices might remain subdued in the short-to-medium term as China demand eases and global supply accelerates.

The post Why the BHP (ASX:BHP) share price is down 7% today 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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ASX 200 bank shares have stalled in the past month with momentum likely dampened by the recent jump in COVID-19 cases and extended lockdowns across major Australian cities.

The banking heavyweights, Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) might also need a breather after surging 20-30% year-to-date.

The Australian reported that major banks might soon begin to feel the impact of lockdowns as volume and housing growth begin to moderate.

Lockdowns could slow near-term growth prospects for ASX 200 bank shares

The Australian quoted commentary from Macquarie which flagged that “housing growth for the major banks, excluding the troubled ANZ Bank business, moderated to 6-7 per cent from double-digit annualised growth in June.”

More broadly speaking, the Australian Bureau of Statistics reported a 1.6% month-on-month decline in new loan commitments for housing, despite surging 82.7% in the past 12-months.

By comparison, housing loan commitments increased 5.5%, 3.7% and 4.9% across March, April and May respectively.

“While the full impact of the current lockdown will not be known for some time, we expect balance sheet growth to dampen in the fourth quarter of this year and potentially in the first quarter of 2022,” Macquarie reported.

It could go both ways

Despite the prospect of slowing housing and loan growth, Macquarie analysts said that “if property prices continue to rise, the likely pent-up demand may result in a better outlook for 2022 credit growth.”

The Australian would point to redeeming factors such as the “relatively buoyant” 0.7% increase in Australia’s gross domestic product in June.

“The Australian Bureau of Statistics said domestic demand explained the better than anticipated result, with housing spending, private investment and public expenditure all strong, offsetting a fall in mining export volumes.”

The post ASX 200 bank shares could struggle due to lockdowns – expert 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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ASX energy companies tend to keep a close eye on what’s happening with OPEC+.

The bottom line for S&P/ASX 200 Index (ASX: XJO) companies like Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL), after all, is they are highly dependent on the price of crude.

The powerful Saudi-led oil cartel, which includes Russia, slashed oil output in early 2020, when the pandemic saw the global demand for fuel evaporate. More recently it’s been lifting its members’ production caps as the world began to reopen.

What did OPEC announce?

OPEC+ has agreed to increase its daily crude supply by 400,000 barrels per day (bpd). That’s largely in line with their earlier intentions. And the members agreed to the increase in an unusually brief video conference.

Commenting on the decision in the Australian Financial Review, Bart Melek, head of commodity strategy at TD Securities said, “COVID-19 continues to be a problem and OPEC+ seems quite comfortable injecting supply into this environment.”

Melek added that this “has many market observers worried about previous expectations of a significantly tighter market”.

Speaking on Bloomberg TV, Christyan Malek, head of oil and gas at JPMorgan Chase & Co, said, “OPEC have proven once again that they can meet and do things seamlessly.”

He noted that this harmony will likely come into play to enable the cartel “to respond flexibly” to any global supply and demand changes over the coming year.

With “expectations of a significantly tighter market” not in doubt, ASX energy shares may find their profit margins under increased pressure.

How have these ASX energy shares been performing?

Leading ASX energy share, Woodside Petroleum has seen its share price drop 11% over the past month. Shares remain up 2.5% over the past full year.

The Santos share price is also in the red over the past month, down 5%. The Santos share price is up 12% since this time last year.

Brent crude hit recent highs of US$77.16 on 5 July and has since retraced more than 7% to US$71.59.

Little wonder then that ASX energy shares are watching OPEC’s output forecasts closely.

The post ASX energy shares on watch after OPEC’s latest move 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 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 won’t be going anywhere today.

This morning the gold explorer requested a trading halt prior to the market open.

Why is the Bellevue Gold share price in a trading halt?

The Bellevue Gold share price was placed in a trading halt this morning so the company could undertake a material capital raising.

According to the release, Bellevue is aiming to raise $131 million via a placement and share purchase plan. This comprises an underwritten placement to raise $106 million at 85 cents and a share purchase plan to raise up to $25 million at the same price.

The placement price represents a discount of 10.5% to the latest Bellevue Gold share price.

Why is Bellevue Gold raising funds?

The gold explorer is raising funds after completing the Bellevue Gold Project Stage Two feasibility study.

That study reveals that its production estimate has increased by 25% to 200,000 ounces per annum at an all-in sustaining cost (AISC) of $922 per ounce for the first five years.

Management notes that the study puts Bellevue Gold into an exclusive club of global gold projects characterised by a tier-1 location, reserve grade of +5 g/t, and forecast production of +180,000 ounces per annum. It highlights that there are only seven other assets in the world that meet these criteria.

In addition, the company estimates that its annual pre-tax free cashflow will average $270 million per annum in first five years.

Though, it is worth noting that this is based on a gold price of $2,400 per ounce, which is broadly where it trades today. Whether the precious metal will hold up at these levels as rates rise, only time will tell.

What will it cost?

According to the release, the pre-production capital requirement for stage two is estimated at $252 million.

But thanks to its capital raising and an underwritten and credit-approved project loan of $200 million from Macquarie Group Ltd (ASX: MQG), Bellevue Gold is now fully funded to production.

Bellevue Gold’s Managing Director, Steve Parsons, said: “There is one key point of differentiation between this exclusive group of which Bellevue is now a member and other rankings in the industry. That point is superior financial performance.”

“Only seven other assets in the world boast a grade of more than 5 g/t and annual production of +180,000oz in a tier-one location. This study shows Bellevue has Reserves of 1Moz at 6.1 g/t. That underpins annual production of 200,000oz at an AISC of just A$1,014/oz, which in turn generates pre-tax cashflow of A$270M a year.”

Positively, with drilling still underway, Mr Parsons believes there is significant scope to continue growing the production rate and mine life.

“Only 50 per cent of the 3.0Moz Resource sits within the mine plan. And since we completed the current Resource estimate in July, we have announced a number of strong drilling results from outside this inventory. These results demonstrate the potential for further increases in the annual production rate and mine life. With this in mind, we have designed the processing plant so that it can be expanded quickly and in a cost-effective manner,” he added.

The Bellevue Gold share price is expected to return to trade on Monday following the completion of its placement.

The post Why the Bellevue Gold (ASX:BGL) share price is in a trading halt appeared first on The Motley Fool Australia.

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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 Webjet Limited (ASX: WEB) share price is flying high.

At the time of writing, shares in the online travel agency are trading for $5.68. That’s down 1.05% on the day but it’s up 14% in a month. While the company has had one price-sensitive announcement in that time, it doesn’t fully explain what’s going on.

Let’s take a closer look at what’s going on for the company.

What’s going on with Webjet?

In Webjet’s only price-sensitive announcement of the month, the company revealed its accommodations booking service, WebBed, has returned to profitability. As well, the company said the COVID-19 pandemic is “accelerating the structural shift to online booking”.

The Webjet share price rose 3.5% on this news.

However, the company had upward momentum going into this positive trading announcement. So, what’s going on?

For starters, many of the top ASX travel shares had an incredible rally between 20 August and 26 August. Webjet shares rose 18.2%, Qantas Airways Limited (ASX: QAN) appreciated 18.6%, and the Flight Centre Travel Group Ltd (ASX: FLT) share price rocketed 23.8%.

While it’s hard to know for certain what exactly causes share prices to move as they do, one possible answer may be renewed optimism over vaccines and international travel.

Both the Prime Minister, Scott Morrison, and the NSW Premier, Gladys Berejiklian, have in recent days talked of the prospect of opening international borders once 80% of the population is fully vaccinated. Australia’s inoculation uptake has accelerated at an incredible pace in recent months. For example, 70% of eligible NSW residents will have received their first dose by the end of today.

Not everyone shares this confidence in the Webjet share price, however. In the most recent data, it was revealed Webjet shares are the most-shorted on the ASX. As Motley Fool has reported, concerns remain the highly infectious Delta strain of the coronavirus could delay the full reopening of the travel market.

Webjet share price snapshot

Over the past 12 months, the Webjet share price has soared by 56%. It’s outpaced the S&P/ASX 200 Index (ASX: XJO) by an incredible 34 percentage points. Year-to-date, however, it is up 11% – roughly even with the benchmark index.

Webjet has a market capitalisation of around $2.2 billion.

The post Here’s why the Webjet (ASX:WEB) share price is up 14% in a month appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Sidarous 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 Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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 AMP Ltd (ASX: AMP) share price has been struggling through 2021 so far. In fact, it’s been struggling for years now. It has slipped a massive 78% since the start of 2018.

Right now, the AMP share price is $1.11. That’s 28% lower than it was at the start of 2021.

Let’s take a look at what’s been weighing on AMP’s stock lately.

A quick refresher

A brief history lesson is needed to get a grasp on why the AMP share price has been so heavy in 2021.

Let’s go back to 2018, when the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was only just ramping up and AMP’s shares reached their highest close of the last 5 years ($5.47 for those interested).

That was the last time the AMP share price saw such comparatively dizzying heights. AMP was dragged through the coals by the royal commission, during which it admitted to misleading ASIC and charging its customers fees without providing a service.  

As a result of the findings, ASIC began what turned into a 3-year investigation into AMP. The watchdog dropped the hunt in July, declaring that, despite the Royal Commission’s calls for criminal charges, AMP was to get off scot-free.

However, AMP’s stock never quite recovered from the plunge that followed the findings.

2021 for the AMP share price

The AMP share price has weathered a number of additional blows this year.

Early this year, the company looked to enter a joint venture with Ares Management Corp (NYSE: ARES). Ares had offered to buy AMP in 2020 before backing out.

Under the joint venture, Ares and AMP Capital’s private markets would pair up, with AMP receiving a $1.55 billion payday.

However, Ares ghosted AMP, letting the joint venture’s 30-day exclusivity period slide by.

If you’ve never been told not to work with your exes, you have now.

The AMP share price has also potentially been weighed down by its demerger plan. AMP announced its plans to split into AMP Limited, a retail-focused wealth and banking group, and Private Markets, a global investment manager, earlier this year.

Finally, AMP’s new CEO, Alexis George, has been busy warning the market that AMP won’t be undergoing a quick recovery.

Despite its recent woes, the AMP share price was boosted last month when the company released strong earnings for financial year 2021. Those interested can find the contents of the company’s full-year report here.

The post The AMP (ASX:AMP) share price is down 28% so far in 2021. Here’s why appeared first on The Motley Fool Australia.

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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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