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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the month with a disappointing decline. The benchmark index is currently down 0.55% to 7,494 points.

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

Metcash trading update

The Metcash Limited (ASX: MTS) share price is trading lower on Wednesday following the release of a trading update. That update revealed that the company has started FY 2022 positively, with Liquor and Hardware sales up strongly during the first 16 weeks of the year. They are up 9.5% and 16.3% respectively, over the prior corresponding period. Things haven’t been quite as positive for its Food business, with sales down 1.4% excluding the impact of the 7-Eleven supply contract loss.

Wesfarmers shares go ex-dividend

The Wesfarmers Ltd (ASX: WES) share price is falling on Wednesday. This has been driven by the conglomerate’s shares going ex-dividend this morning. Last month the Wesfarmers Board declared a fully franked final dividend of 90 cents per share. This will now be paid to eligible shareholders on 7 October. A potential $2.00 per share capital return awaits shareholders in December if approved at its annual general meeting next month.

Brokers divided on Altium shares

The Altium Limited (ASX: ALU) share price is pushing higher on Wednesday despite being the subject of a broker upgrade and downgrade. The team at Citi have upgraded Altium’s shares to a buy rating with a trimmed price target of $35.40. Whereas the team at Macquarie have downgraded its shares to an underperform rating with a reduced price target of $27.60. The Altium share price is currently fetching $30.17.

Best and worst ASX 200 performers

The Flight Centre Travel Group Ltd (ASX: FLT) share price has been the best performer on the ASX 200 today with a 4% gain on no news. The worst performer on the ASX 200 has been the Blackmores Limited (ASX: BKL) share price with a 6% decline. This appears to have been driven by profit taking after a strong gain in August.

The post ASX 200 midday update: Metcash update, Wesfarmers goes ex-div appeared first on The Motley Fool Australia.

More reading

• How did the ASX 200 shares perform compared to the FTSE 100 shares in August?
• Metcash (ASX:MTS) share price drops following trading update
• Here’s why the Wesfarmers (ASX:WES) share price is sinking today
• The Blackmores (ASX:BKL) share price surged 35% in August to a 52-week high. Here’s why.
• These were the best performing ASX 200 shares in August

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 Altium. The Motley Fool Australia owns shares of and has recommended Altium, Blackmores Limited, and Wesfarmers Limited. 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 AGL Energy Ltd (ASX: AGL) share price has hit a record low at $6.36 in early trade on Wednesday.

Let’s investigate further.

What’s up with the AGL share price today?

On Tuesday, AGL announced plans to restructure its senior management team, culling several members from its senior ranks.

The company will see a number of key executives exit over the coming periods into December of FY22.

This aligns with the planned demerger date which AGL hopes to finalise by the fourth quarter of FY22. Recall that AGL’s plan will see it demerge into two ASX-listed companies, AGL Australia and Accel Energy.

Investors have also been selling AGL shares on the back of its FY21 results in August.

The AGL share price has wallowed in a sea of red since January 1 as the company advances on its plans to demerge into these two separate entities.

Over the month of August alone, AGL shares dived another 12% into the red, which just goes to underscore current investor sentiment.

In fact, it’s been a difficult time over the last five years for the AGL share price, having sunk by 77% over that time from a high of $27.61.

There is no market-sensitive information for the company today. Therefore, it stands to reason that investors continue to sell the company’s shares as part of the wider downtrend in the AGL share price.

Foolish takeaway

AGL is advancing on its plans to demerge into two separate ASX-listed entities, Accel Energy and AGL Australia.

It has scheduled a completion date by the fourth quarter of FY22 and hopes to finalise the demerger by then.

At the time of writing, AGL has a market capitalisation of $3.95 billion.

The post AGL Energy (ASX:AGL) hits record low, slides a further 12% in August appeared first on The Motley Fool Australia.

More reading

• AGL (ASX:AGL) share price struggles amid major management shake-up
• Here’s why the AGL (ASX:AGL) share price is down today
• August hasn’t been a great month so far for the AGL (ASX:AGL) share price
• Here’s why the AGL (ASX:AGL) share price is down 6% in a week
• How does the AGL (ASX:AGL) earnings result compare to Origin?

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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iSignthis Ltd (ASX: ISX) is accelerating its lawsuit against ASX Ltd (ASX: ASX), claiming the exchange operator unjustly suspended the company’s stock.

At the same time, it has announced it’s planning to demerge its European subsidiary, effectively splitting the company in two.

Additionally, iSignthis has posted its half-year results for the 6 months ended 30 June 2021.

The iSignthis share price is $1.07, as it has been since 2019.

According to the company’s new statement of claim, the ASX suspended its stock without cause and, in doing so, breached the Corporations Act. iSignthis first brought the claim against the ASX this time last year.

Let’s take a look at the latest news from the payment and authentication company.

Demerger of European assets

iSignthis has announced its intention to demerge its subsidiary, ISX Financial EU Ltd.

Under the plan, iSignthis’ shareholders would hold 100% of ISX Financial EU following the split. The subsidiary would then probably seek to list on another exchange, giving shareholders the chance to trade its stock.

Following the demerger, iSignthis will hold a $6 million convertible note in ISX Financial EU, 100% of ISX Financial EU’s shares, and around $4.3 million in cash.

Additionally, iSignthis notes its legal claim against the ASX as part of its balance sheet. It commented it has the funds to “pursue its Federal Court litigation against ASX, which it will continue to do with vigour.”

The company’s Cyprus-based non-executive director Christakis Taoushanis has today become chair of ISX Financial EU.

The demerger is dependant on shareholder approval. iSignthis will put it to a shareholder vote at its annual general meeting, which will likely happen in October.

Half-year results

Here’s how iSignthis performed over the first half of 2021:

A quick note: all values are converted from euro at the exchange rate at the time of writing.

• $17.29 million revenue, down 7.58% on that of the prior comparable period
• Loss after tax of $607,841. For the first half of 2020 the company recorded a profit of $738,271.54.
• The company paid $1.94 million in legal costs towards its suits against ASIC and the ASX
• Revenue from customers fell 7.58% to $17.27 million

iSignthis stated the drop in customer revenue was due to its move away from card acquiring and towards instant and batched interbank payments and the creation of a multi-rail ecosystem centred on its flykk service.

New statement of claim

According to iSignthis’ new statement of claim, the ASX suspended it from the exchange due to “mere suspicion” and representatives of both ASX and ASIC had had a conversation in which they “spitball(ed)” the best method to suspend the company’s stock.

iSignthis was suspended from trading pending an ASIC and ASX investigation into its share price’s volatility in October 2019. It is still suspended.

iSignthis is also claiming it was treated differently than 13 other listed companies in similar situations. Additionally, it alledges ASX made false representations about the suspension.

The company has lodged its new statement of claim with the Federal Court of Australia.

It’s seeking $464.4 million in damages for the suspension.

The company claims representatives of ASIC and ASX spoke on the phone the morning of its suspension. An ASIC representative is said to have stated they were looking into iSignthis’ 2018 revenue but it “did not reveal a ‘smoking gun.’”

According to iSignthis, ASX’s representative stated they’d considered a suspension but didn’t have hard evidence. Some participants of the phone call also allegedly noted the suspension was a “major litigation risk”.

iSignthis states that, due to the suspension, it has incurred $159,836 of public and media relations costs, fees of $156,815 from an independent expert’s review, and has lost commercial arrangements.

The post Here’s why the iSignthis (ASX:ISX) share price is halted appeared first on The Motley Fool Australia.

More reading

• RAIZ Invest (ASX:RZI) share price crashes 16% amid leadership fight
• Afterpay (ASX:APT) ‘Touch Ventures’ eyes IPO
• What’s happening with the Sydney Airport (ASX:SYD) share price?
• How did the ASX 200 shares perform compared to the FTSE 100 shares in August?
• Why the Immutep (ASX:IMM) share price is leaping 5% 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 RAIZ Invest Ltd (ASX: RZI) share price is falling heavily on Wednesday morning.

At the time of writing, the investment platform provider’s shares are down 16% to $1.66.

Though, despite today’s heavy decline, the RAIZ Invest share price is still up an impressive 70% in 2021.

Why is the RAIZ Invest share price crashing today?

Investors have been selling down the RAIZ Invest share price today following the release of a surprising announcement this morning.

According to the release, the company has received a request from BBH-GL Nominees to call a meeting of shareholders.

BBH-GL Nominees is a company associated with RAIZ Invest’s Founder, Managing Director and CEO, George Lucas.

At the last count, BBH-GL Nominees held 4,458,338 RAIZ Invest shares, making it a substantial holder with greater than 5% of its shares outstanding. This gives it the right to call a meeting of shareholders pursuant to s249D of the Corporations Act (Cth) 2001.

Why is there a meeting being called?

BBH-GL Nominees and Mr Lucas have requested the convening of a general meeting of shareholders to vote on a surprise resolution.

According to the release, the resolution is: “That pursuant to section 203D of the Corporations Act and clause 10.19(e) of the Company’s Constitution, Nina Finlayson, Kevin A Moore and Kelly Humphreys are removed as directors of the Company with effect from the close of this meeting.”

No details have been provided on why BBH-GL Nominees and CEO George Lucas want these directors to be removed.

It is also worth noting that one of these directors, Kevin Moore, is the RAIZ Invest Chairman and only joined the company on 1 December 2020.

For the Founder and CEO to attempt to remove his Chairman after less than a year, is not a good look for a company and hints at some major disagreements in the board room. Which certainly goes a long way to explaining the weakness in the RAIZ Invest share price today.

Further details are expected to be released ahead of the proposed meeting.

The post RAIZ Invest (ASX:RZI) share price crashes 16% amid leadership fight appeared first on The Motley Fool Australia.

More reading

• Raiz (ASX:RZI) share price rockets on FY21 results
• One Delta lockdown winner and 2 other rocketing ASX shares
• 5 ASX shares to hold for 5 years
• Here’s why the Raiz (ASX:RZI) share price is storming 8% higher 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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Afterpay Ltd (ASX: APT) shares are in the headlines again today with the buy now, pay later business eyeing an initial public offering (IPO) for Touch Ventures.

What is Touch Ventures?

Touch Ventures is going to be the new name for AP Ventures.

AP Ventures is an investment vehicle where Afterpay is the largest shareholder. It aims to create long-term value for its shareholders by investing in high growth companies. According to the AP Ventures website, Afterpay owns/owned 44% of this business.

AP Ventures says:

AP Ventures provides high growth, scalable companies that have proven revenue models with access to capital and, where appropriate, Afterpay’s experience, merchants and customers.  Particular areas of interest includes retail innovation, consumer and finance, and data with a preference for businesses that are or can expand globally.

We target making investments of $10m+ and are interested in post revenue and later stage companies looking to scale.  While not generally our focus, we may from time to time pursue early stage opportunities where there is a strong strategic rationale.

Planning for an IPO?

According to reporting by the Australian Financial Review, Touch Ventures is working on a plan to IPO and list onto the ASX. It is currently pitching to potential institutional investors to try to raise $100 million.

It could start trading on the ASX by the end of September 2021, with a listing price of $0.40 per share.

The AFR said that Afterpay has already agreed to invest $10 million into the raising and current shareholder Woodson Capital is expected to participate in this raising as well. Touch Ventures directors are also expected to take part to the tune of a few million dollars.

The newspaper also reported that Alex Waislitz’s Thorney Investment Group is likely to participate and become a substantial investor in the business.

Investors are being told that AP Ventures has already invested more than $75 million in five companies, including two buy now, pay later companies – Happay in China and Postpay in the United Arab Emirates.

It was pointed out that the biggest investment that Touch Ventures has made is a US$25 million investment for 10% of Sendle, which is a competitor to Australia Post.

A final interesting point that the AFR reported was that Touch Ventures may invest around 5% of the new funds into earlier stage investments.

Afterpay share price snapshot

Afterpay shares are down around 2% at the time of writing, but since 30 July 2021 it has gone up 37% after receiving an all-share takeover offer from global payments giant Square Inc (NYSE: SQ).

The post Afterpay (ASX:APT) ‘Touch Ventures’ eyes IPO appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares in August
• How do you value the Afterpay (ASX:APT) share price?
• Why you should NOT use stop-loss orders
• Afterpay (ASX:APT) share price rises amid Amazon’s BNPL move
• ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has seen renewed interest this past week.

Shares in the airport have been trending higher in the past 7 days, nudging 52-week highs.

Let’s take a look at why investors have been bidding up the Sydney Airport share price.

Sydney Airport shares maintain takeover momentum

Despite widespread lockdowns and border closures, shares in Sydney Airport have soared in 2021.

The company has managed to maintain the momentum following a $22.6 billion buyout offer in July.

A consortium of infrastructure investors – IFM Investors, Global Infrastructure Management, and QSuper – launched the takeover offer, valuing Sydney Airport at $8.25 per share.

The offer saw shares in Sydney Airport storm more than 34% on the day.

Fast forward to September and the Sydney Airport share price has managed to hold onto much of its gains.

Shares in the infrastructure giant were recently buoyed after the company released its half-year report.

How did Sydney Airport perform in the last 6 months?

The effects of the COVID-19 pandemic were reflected in Sydney Airport’s half-year report for FY21.

For the 6 months ending 30 June 2021, the airport noted a 36.4% decline in overall passenger numbers.

Highlights from Sydney Airport’s half-year report include:

• Net loss after tax benefit of $97.4 million. This is up 81.7% on the loss in the prior corresponding period’s (pcp).
• Revenue down 31.3% on the pcp to $351 million
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $210.8 million – a 29.8% loss on the pcp
• A negative cash flow of $565.5 million for the 6 months

Outlook for Sydney Airport shares

Sydney Airport is Australia’s largest international gateway, generating revenue through various operations.

Since the start of the year, shares in Sydney Airport have soared more than 25%.

In comparison, the broader S&P/ASX200 Index (ASX: XJO) has only managed to gain around 13% in 2021.

Following the takeover offer, Sydney Airport’s management noted the predatory nature of the bid and noted sunnier days ahead for the infrastructure giant.

One of the key catalysts for the Sydney Airport share price will be vaccination rates in Australia.

According to the federal government’s National Plan, overseas travel is on the cards once 80% of the population is vaccinated.  

At the time of writing, shares in Sydney Airport are trading lower for the day at around $7.87.

The post What’s happening with the Sydney Airport (ASX:SYD) share price? appeared first on The Motley Fool Australia.

More reading

• ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX
• Why the Sydney Airport (ASX:SYD) share price has beaten the ASX 200 in the last year
• If you invested $1,000 in Sydney Airport (ASX:SYD) shares a decade ago, here’s what it would be worth now
• What Sydney Airport’s results could mean for Flight Centre (ASX:FLT) shares
• What could Sydney Airport’s results mean for Webjet (ASX:WEB) shares?

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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Welcome to September, fellow Fools! With a new month and season upon us today, it’s a great time to check out how the markets performed on the month that has just passed us by. So today, we’ll be checking out the S&P/ASX 200 Index (ASX: XJO), and how it went over August compared with the United Kingdom’s FTSE 100 Index (INDEXFTSE: UKX). 

Much how the ASX 200 encompasses the largest 200 companies on the Australian share market, the FTSE 100 tracks the performance of the largest 100 companies listed on the London Stock Exchange. Both of these indexes are useful benchmarks that effectively track the performance of the Aussie and British share markets respectively. So let’s see how we measured up against the Motherland over August.

So the ASX 200 started August at a level of 7,392.6 points. Yesterday, the ASX 200 closed at 7,543.3 points. That puts its total gains for August at a healthy 2.04%.

So how does this compare to the FTSE 100?

Well, the FTSE 100 started August at 7,032.3 points. Yesterday, it ended the month at 7,119.7 points. That puts its monthly gain at 1.24%.

So head to head over August, the ASX 200 comes up on top with a 2.04% gain, clearly outperforming the FTSE 100’s 1.24%.

The ASX 200 also comes out on top over some other periods too, as of today anyway. Year to date in 2021 so far, the ASX 200 has managed to put on a very pleasing 11.91%. Over the same period, the FTSE 100 is up 8.34%.

Over the past 12 months, we also see the ASX 200 pip the FTSE to the post. The ASX 200 has managed to gain 25.65% over the past 12 months. In contrast, the FTSE 100 has put on 21.45%.

How does the ASX 200 compare to the FTSE 100?

There are both similarities and differences in how these two indexes are constructed. For one, the FTSE actually has a few famous Aussie names on it. You’ll find both Rio Tinto Limited (ASX: RIO) and BHP Group Ltd (ASX: BHP) amongst its top 10 holdings, which of course is a very similar situation to the ASX 200.

But while the ASX 200 has 5 bank shares in its top 10 holdings, the FTSE presently only has one – HSBC Holdings plc (LON: HSBA). That’s according to fund provider BetaShares, whose BetaShares FTSE 100 ETF (ASX: F100) tracks the FTSE 100.

Instead of more banks, the FTSE has a global tobacco giant in British American Tobacco plc (LON: BATS), an alcoholic beverages company in Diageo plc (LON: DGE) and a pharma titan in AstraZeneca plc (LON: AZN). All companies that we can’t really say we have an ASX equivalent to.

Even so, the numbers speak for themselves: ASX investors have fared better than FTSE 100 investors over August, 2021 so far, and the past 12 months. Bring on the Ashes!

The post How did the ASX 200 shares perform compared to the FTSE 100 shares in August? appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares in August
• These were the worst performing ASX 200 shares in August
• Warning: This is when the share market will turn
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 rises, Harvey Norman falls, Mesoblast sinks

Motley Fool contributor Sebastian Bowen owns shares of Betashares FTSE 100 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended British American Tobacco, Diageo, and HSBC Holdings. 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 Immutep Ltd (ASX: IMM) share price is gaining today following news of the company’s Two ACTive Immunotherapies (TACTI-002) trial.

Recruitment for the trial’s stage 2 of part B is now officially complete.

Right now, the Immutep share price is 55.5 cents, 4.72% higher than its previous close. Additionally, the company’s shares are flying off the shelf.

At the time of writing, more than 1.6 million Immutep shares have swapped hands today. For comparison, an average month sees slightly more than 1.7 million of the company’s securities traded.

Let’s take a closer look at today’s news from the biotech company.

Immutep finishes part B recruitment

The Immutep share price is in the green today on news its TACTI-002 trial’s stage 2 of its part B can begin.

The company has managed to recruit a milestone 154 non-small cell lung cancer (NSCLC) patients for its trial. The now-enrolled patients represent 84% of the participants needed to complete the trial.

Immutep is continuing to recruit patients for the trial’s part A’s expansion phase.

The trial is operating at 19 clinical sites across Australia, Europe, the United States, and the United Kingdom.

It’s evaluating the combination of Immutep’s efti with Merck and Co.‘s KEYTRUDA (pembrolizumab) in patients with second line head and neck squamous cell carcinoma or non-small cell lung cancer in first and second line.

So far, the company believes it has presented encouraging data from the trial’s first stages.

It plans to present more data from the trial at a scientific conference in late 2021 or early 2022.

Immutep share price snapshot

The Immutep share price has been performing well on the ASX lately.

It is currently 33.3% higher than it was at the start of 2021. It has also gained 192% since this time last year.

The company has a market capitalisation of around $472 million, with approximately 850 million shares outstanding.

The post Why the Immutep (ASX:IMM) share price is leaping 5% today appeared first on The Motley Fool Australia.

More reading

• Immutep (ASX:IMM) share price jumps 5% on Chinese patent grant
• Why the Immutep (ASX:IMM) share price is charging 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Tuesday night to discuss the ASX’s record streak, plus BHP Group Ltd (ASX: BHP) versus Twiggy’s Fortescue Metals Group Limited (ASX: FMG), and expectations for GDP.

The post 11 straight months of gains for ASX 200. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

More reading

• BHP (ASX:BHP) share price history: The major highlights (and low points)
• These were the worst performing ASX 200 shares in August
• ASX 200 miners beware as UBS warns iron ore will sink under US$100 in 2022
• Leading brokers name 3 ASX shares to sell today
• The BHP (ASX:BHP) share price is down 14% in a month. Here’s why

Motley Fool contributor Scott Phillips 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 shares in the lithium and battery sector have once again topped the leaderboards last month.

This is despite a sharp 10-20% drawdown across most ASX lithium shares during mid-August as lofty valuations and broader market volatility witnessed sellers take control.

The lithium sector continues to benefit from higher spot prices and the hype around increased electric vehicle adoption. This has helped many prospective explorers and emerging players surge in valuation in a short period of time.

Top performing ASX shares in August

Charger Metals NL (ASX: CHR)

The Charger Metals share price has topped the list as one of the best performing ASX shares in August. Shares in the diversified explorer surged 173% in August from 23 cents to 63 cents.

The company successfully listed on the ASX on 9 July, raising $6 million at an issue price of just 20 cents.

Charger Metals is in its early days, with an interest in the following projects:

• A 70% interest in the Coates nickel-copper-cobalt project
• An 85% interest in Coates North Project
• A 70% interest in the Bynoe lithium and gold project
• A 70% interest in the Lake Johnston lithium and gold project

The capital raised from the initial public offering will be used to fund the company’s exploration activities to determine whether or not these projects can be monetised in the future.

Recent announcements from Charger Metals include the commencement of exploration activities at Bynoe and an aerial electromagnetic survey at Coates.

Novonix Ltd (ASX: NVX)

The Novonix share price rallied 75% in August from $2.58 to $4.52.

The company is an emerging battery player, focused on the development of technologies that support longer life batteries, higher efficiency, reduced material usage and reduced waste.

Novonix reported its FY21 results on 26 August, with revenues increasing 22.9% to $5.2 million and a loss before tax of $18 million.

A near-term focus for the company is to produce its own synthetic graphite used in lithium-ion batteries. The company is targeting a capacity of 10,000 tonnes per annum in early 2023 before ramping up production to 40,000 tonnes by 2025 and 150,000 tonnes by 2030.

Jindalee Resources Ltd (ASX: JRL)

Jindalee is another top-performing ASX share in the exploration space. The company owns two prospective US-based lithium projects.

The Jindalee share price added 55% in August to $3.79.

The McDermitt project is Jindalee’s flagship project and what the company calls “the largest lithium deposit in the USA”.

The company has a busy schedule ahead with plans to continue mining studies and an initial scoping study, obtain a permit for additional drilling and engage with US investors for additional funding.

The post Guess which sector August’s top performing ASX shares all came from appeared first on The Motley Fool Australia.

More reading

• Why the Novonix (ASX:NVX) share price is rocketing 20%
• Why ASX lithium shares are having a bumper start to the week
• Which ASX companies are starting off the week as the top movers in the ASX 300 today?
• Novonix (ASX:NVX) share price slides despite 23% revenue growth
• What’s going on with ASX lithium shares today?

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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