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July was another big month for ASX shares, with some enjoying tailwinds as others faced fresh troubles.

ASX travel companies came under renewed pressure with the COVID-19 delta variant seeing much of Australia’s eastern seaboard enduring a new wave of extended lockdowns.

Global markets were also roiled by further crackdowns in China, hitting tech shares and education companies.

Cybersecurity shares were, broadly, among the winners, with hackers remaining a top concern for governments and businesses around the globe.

This saw the Betashares Global Cybersecurity ETF (ASX: HACK) gain 6.5% in July. By comparison the All Ordinaries Index (ASX: XAO) gained a more modest 1.6% in July.

If you’re not familiar with HACK, the exchange traded fund (ETF) provides ASX investors with exposure to 39 leading global cyber security shares.

Its top holdings include Zscaler (7.0%), Crowdstrike Holdings (6.4%), Accenture (6.4%), and Cisco Systems (5.9%).

HACK’s strong run in July coincides with Saxo Markets’ report, released today, on the performance of their equity theme baskets in July.

Cyber security shares lift on demand and sentiment

According to Saxo Markets, cyber security shares led the pack among its equity baskets’ performance in July:

Cyber security was the big winner in July, up 5.1% driven by positive news sentiment and strong earnings momentum for the industry.

Last Wednesday, [US President Joe] Biden signed an executive order on cyber security which aims at upgrading the US on cyber security efforts and ensure the US is prepared for cyber-attacks, which recently included the big Colonial Pipeline which is critical US infrastructure.

Small-cap ASX cyber security share Archtis Ltd (ASX: AR9) also enjoyed a strong run in July, with shares closing the month up 40%.

With a current market cap of $79 million, you won’t find Archtis among HACK’s blue-chip holdings. Zscaler, for example, has a market cap of approximately AU$45 billion.

At the bottom of Saxo’s July performance list

With Chinese President Xi Jinping’s government continuing its crack down on tech companies and targeting the for-profit education market as well last month, Saxo’s worst-performing basket was its China Consumer & Technology basket, down 11.9% in July.

According to Saxo:

China is moving away from the previous economic growth at all-costs model emulated on the US/Hong Kong success to that of Germany with a much deeper focus on high-end technology clusters working together and with more frugal values emphasising less on consumption.

The new trajectory is also hitting Chinese IPOs in the US and caused an 11.9% decline in our China Consumer & Technology basket in July driven by foreign investors recalibrating their exposure to emerging markets and China.

China’s CSI 300 Index fell 8% in July. With a 12-month gain now whittled down to 7.7%, it now counts among the worst performers over the past year among the major global exchanges.

Spiralling back to cyber shares and HACK…

How has this ASX cyber security ETF been performing?

Over the past 12 months the HACK share price is up 31%, compared to a gain of 26% posted by the All Ords.

Year-to-date, the ASX cyber security ETF has gained 11%. Shares are down 1% in intraday trading today.

The post ASX Cyber Security ETF in line with Saxo Market’s top performers appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. 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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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on form again and reaching new highs. The benchmark index is currently up 0.5% to 7,602.4 points.

Here’s what has been happening on the ASX 200 on Wednesday:

CBA delivers strong profit growth and $6 billion share buyback

The Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher today after delivering a strong full year result. For the 12 months ended 30 June, the banking giant reported a 19.8% increase in cash earnings to $8,653 million. This compares to the analyst consensus estimate of $8,464 million. This strong form and its even stronger balance sheet allowed the bank to announce a $6 billion off-market share buyback.

IAG lower on FY 2021 results

The Insurance Australia Group Ltd (ASX: IAG) share price has given back its morning gains and is now trading lower. This follows the release of a mixed full year result by the insurance giant. IAG reported a 3.8% increase in gross written premium to $12,135 million but a net loss after tax of $427 million. The latter was driven by a range of one-offs. Excluding these one-offs, its cash earnings was up 170% to $747 million.

Computershare shares higher following full year results

The Computershare Ltd (ASX: CPU) share price is rising today after investors responded positively to its full year results. The stock transfer company reported an 0.8% decline in full year management revenue to US$2.3 billion and a 7.3% fall in management earnings per share to 52.03 US cents. The latter was just ahead of its guidance for an 8% decline. Looking ahead, management is guiding to a stronger year in FY 2022. It expects management earnings per share growth of 2%.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the IRESS Ltd (ASX: IRE) share price with a gain of over 5%. This follows the receipt of an improved takeover proposal. The worst performer on the ASX 200 has been the Megaport Ltd (ASX: MP1) share price with a 5% decline. This morning analysts at Ord Minnett downgraded the company’s shares to a sell rating with a lower price target of $15.00. This follows the release of its FY 2021 results yesterday.

The post ASX 200 midday update: CBA results and $6bn buyback, IAG falls 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 MEGAPORT FPO. The Motley Fool Australia owns shares of and has recommended Insurance Australia Group Limited. The Motley Fool Australia has recommended MEGAPORT 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 Creso Pharma Ltd (ASX: CPH) share price is having a fantastic day on the ASX.

The company’s shares are soaring after it announced its subsidiary, Mernova, has been granted a medical cannabis licence in Canada. Mernova has also received a number of new purchase orders.

Right now, the Creso Pharma share price is 8% higher than its previous close. Shares in the company are swapping hands for 14 cents apiece.  

Let’s take a closer look at today’s news from the pharmaceutical cannabis producer.

News from Mernova

The Creso Pharma share price is gaining today following news of Mernova’s new sales licence.

Mernova can now sell medicinal cannabis products directly to customers.

In the past, Health Canada had only allowed the company to sell its medicinal products through wholesalers. Although, it was able to sell directly to recreational cannabis users.

Creso Pharma said that CA$500 million was spent on medicinal cannabis products in Canada in 2019.

The company also believes Mernova’s new licence could create a recurring revenue stream.

The Creso Pharma share price is also likely being driven by news of purchase orders.

Mernova has recently received CA$224,580 ($242,546) worth of purchase orders for products under its Ritual Green and Ritual Sticks brands.

Mernova said the purchase orders highlight increasing demand for its recreational products.

Commentary from management

Mernova’s managing director, Jack Yu, commented on the news from Creso Pharma today:

The direct-to-patient medicinal market has the potential to be huge for us. It increases our distribution channels from four provinces and territories to nation-wide, and allows for direct-to-patient sales, which provides us with increased control over pricing, as well as direct interaction with, and feedback from, valued customers…

Purchase orders for recreational sales continue to grow steadily, and we anticipate increased growth with the introduction of new strains and additional products, in the coming months.

Creso Pharma share price snapshot

Today’s gains aren’t enough to get the Creso Pharma share price back into the green.

The company’s shares are currently trading for 25% less than they were at the start of 2021. However, they have gained 237% since this time last year.

The company has a market capitalisation of around $149 million, with approximately 1.2 billion shares outstanding.  

The post Here’s why the Creso Pharma (ASX:CPH) share price is up 8% today 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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The Vital Metals Limited (ASX: VML) share price isn’t going anywhere on Wednesday. This comes after the rare earths mining company requested a trading halt before market open.

As such, Vital Metals shares remain frozen at 6.1 cents apiece. It’s worth noting that the company’s shares have gained almost 25% in the past week.

Why are Vital Metals shares in a trading halt?

The Vital Metal share price was placed in a trading halt this morning pending an important acquisition announcement.

While no details have been given by the company, several media outlets have indicated what’s happening behind the curtain.

According to the Australian Financial Review, Vital Metals is set to acquire two projects from Quebec Precious Metals Corporation. Reportedly, both parties have signed a binding term sheet involving the C$8 million (A$8.5 million) purchase.

The first takeover relates to the Kipawa Rare Earth project in which Vital Metals will buy a 68% stake. The remaining 32% interest is held by joint venture partner Investissement Quebec.

Meantime, the second investment is for a 100% interest in the Zeus Rare Earth project.

Both heavy rare earth projects are expected to complement Vital Metals’ light rare earth operations at Nechalacho in Canada’s Northwest Territories. This could potentially make the company the only producer of both heavy and light rare earth materials in North America.

Just last week, Vital Metals completed its first rare earths production at its Nechalacho project.

About the Vital Metals share price

Since this time last year, Vital Metals shares have risen sharply by more than 280%. In 2021 alone, the company’s share price is up 90%, reflecting positive investor sentiment.

Vital Metals presides a market capitalisation of roughly $253.4 million with approximately 4.1 billion shares on its registry.

The post Why is the Vital Metals (ASX:VML) share price is in a trading halt today? 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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The Insurance Australia Group Ltd (ASX: IAG) share price has pared back early gains following the insurer’s latest full year results release.

IAG share price falls despite increased dividends

The Aussie insurer announced its full year results for the period ended 30 June 2021 (FY2021) prior to market open.

Cash earnings jumped 170% to $747 million compared to last year with insurance profit climbing 35.9% to $1,007 million.

The IAG share price shot higher at the open following this morning’s update but has since fallen into the red. Other highlights included a 3.8% growth rate for Gross Written Premium (GWP) and a full year dividend up 100% to 20 cents per share.

Despite reporting a $427 million net loss after tax due to one-off costs, there were some positives for IAG. An improved insurance margin of 13.5% was notably boosted by robust customer retention numbers and lower natural peril costs.

Today’s announcement saw the IAG share price climb higher at the open before falling later in the morning. That’s despite the Board doubling the FY2020 dividend on the back of stronger cash earnings.

The 20 cents per share distribution represents a 66% payout ratio of cash earnings, within the target range of 60-80%.

What’s the outlook for FY2022?

The IAG share price started the day strongly before edging into the red this morning. Investors are interested in not just FY2021 numbers but also what lies ahead.

IAG is forecasting “low single-digit GWP growth” and an insurance margin of between 13.5-15.5% for FY2022.

Management was bullish on the outlook for this year with Managing Director and CEO Nick Hawkins saying the below:

We are optimistic about the outlook for IAG and are reintroducing guidance for FY22.

The strength of our core business and its sound underlying performance in FY21, our new operating model with clear, embedded executive responsibilities, as well as greater certainty in the economic outlook, mean that we are confident that IAG’s underlying performance will continue to improve.”

How has the IAG share price performed in 2021?

Shares in the Aussie insurer are falling late on Wednesday morning following today’s results. The ASX insurer’s shares are up more than 10% in 2021 but still lag the S&P/ASX 200 Index (ASX: XJO).

The post IAG (ASX: IAG) share price falls after earnings despite dividend boost appeared first on The Motley Fool Australia.

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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 owns shares of and has recommended Insurance Australia 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 Rhinomed Ltd (ASX: RNO) share price is rocketing higher on Wednesday.

In morning trade, the medical device company’s shares are up a massive 90% to a 52-week high of 38 cents.

This means the Rhinomed share price is now up approximately 125% since the start of the year.

Why is the Rhinomed share price rocketing higher?

The catalyst for the rise in the Rhinomed share price on Wednesday has been the announcement of a major purchase order from the government.

According to the release, the company has received purchase orders and begun supplying NSW Health Pathology with an initial one million Rhinoswabs. This is part of NSW Health Pathology’s program to support testing capability.

The company has commenced deliveries, with these initial orders being fulfilled over the coming weeks. It notes that the revenue associated with the initial order represents between approximately 25% and 35% of its unaudited FY 2021 revenues of $3.9 million.

What is Rhinoswab?

The company highlights that its Rhinoswab nasal swab technology improves the sample collection process.

Rhinoswab is reportedly substantially more comfortable and easier to use than the standard nasal swab, captures a larger sample, can accelerate the sample collection process, and significantly reduce queues and waiting times.

The technology works with existing PCR pathology workflows and equipment and has equivalent cost and quality to the US and European standard of care nasopharyngeal swabs.

In order to respond to increasing demand both at home and abroad, Rhinomed is now scaling up its manufacturing facilities.

Rhinomed’s CEO, Michael Johnson, said: “We are thrilled to receive this support for this Australian innovation. The Rhinoswab can make a meaningful impact on the SARS-CoV-2 testing process and enable more people to be tested quickly and easily. With approximately 2 billion SARS-CoV-2 tests having been carried out globally over the last 18 months (close to 26 million in Australia alone), there is a major opportunity for Rhinoswab to radically improve the testing process, clinical outcomes and user experience.”

The post Why the Rhinomed (ASX:RNO) share price is rocketing 90% higher 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. 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 Neometals Ltd (ASX: NMT) share price is soaring today following news of the company’s vanadium recovery pilot plant.

Neometals reported that trials were complete and had resulted in excellent product purity with higher vanadium concentrates.

Right now, the Neometals share price is 80 cents, 6.67% higher than its previous close.

Let’s take a closer look at today’s news from the mineral exploration and development company.

Successful trials

The Neometals share price is gaining after the company advised it has completed pilot trials for its Vanadium Recovery Project.

During the trials, the project processed around 14 tonnes of vanadium-bearing steel by-product (slag) from 3 Scandinavian steel mills.

Neometals said the processed slag consistently had a purity of more than 99.5% vanadium pentoxide. As a result, the project’s operational costs would be less than they would have otherwise been.

Additionally, the process was found to have recoveries of more than 75%.

According to today’s release, the process in which Neometals recovered vanadium from slag uses carbon dioxide. The company plans to get future carbon dioxide from emissions sources. Therefore, it anticipates the final project may have net-zero carbon emissions.

Neometals managing director Chris Reed said the trial results had “significantly de-risked the project”.

What next?

Neometals funded and managed the project’s evaluation activities with the hopes of securing a 50% joint venture interest with Scandinavian mineral development company, Critical Metals. The Neometals share price gained 6% when the company announced the planned joint venture in April 2020.

Neometals now plans to select engineers for the project and begin a feasibility study. It will also work to provide larger samples for product evaluation and offtake discussions.

Potential off-take partners in Europe and Japan have already been sent samples of Neometals’ ammonium metavanadate and vanadium pentoxide. They will now determine if the products are suitable for use in high tech and battery applications.

One of Neometals’ by-products, stabilised slag material, may also be useful to concrete or building materials manufacturers. Potential customers will test samples of the by-product.

The company expects to complete the project’s feasibility study by the end of June 2022.

Neometals share price snapshot

The Neometals share price is having a good run on the ASX.

It has gained 167% year to date. It is also currently 307% higher than it was this time last year.

The company has a market capitalisation of around $411 million, with approximately 548 million shares outstanding.  

The post Neometals (ASX:NMT) share price rockets 7% after pilot trial update 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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The Seek Ltd (ASX: SEK) share price has slipped into the red in early trade. Seek shares are now exchanging hands at $29.07 apiece, a 3.1% drop from the open.

Earlier, the digital job advertising company released the outcomes of its strategic review into its Asia Pacific & Americas (AP&A) and Investments businesses.

The share price dip comes on the back of Seek’s announcement to the market before the open.

Quickly adding some colour

To quickly recap, the purpose of Seek’s strategic review was to “provide greater independence” to its AP&A and Investments businesses.

Seek announced back in February that it has a two-pronged strategy.

The first aim, regarding AP&A, is to “focus on growth opportunities” while concurrently “retaining exposure to Investments”.

Secondly, Seek wants its Investments business to operate “independently and access third party capital”. Ultimately, the company’s strategic play permeates the Investments arm as an “investor and business builder”.

As such, the company created an independent unit trust, known as the SEEK Growth Fund, to achieve these primary goals of independence and access to capital.

What did Seek announce today?

Seek confirmed the creation of the Fund, in addition to the particulars around its operations as a going concern.

Firstly, Seek will transfer its holdings in online education services and “14 early-stage ventures” as seed assets in exchange for units in the Fund.

The exchange will occur at “an independently assessed” fair value of $1.215 billion.

In addition, the new firm will be headed by Seek co-founder Andrew Bassat who will remain independent and act autonomously of Seek.

Moreover, the fund has secured a further $460 million capital raise to “fund future investments”, as per the company’s announcement. The breakdown includes a $260 million round from investors with the remaining $200 million coming from Seek directly.

As a result of the changes, Seek’s FY21 and FY20 results will show adjustments to recognise the divested assets as “discontinued operations” for accounting purposes.

Seek will now recognise revenue from the two entities in a single ledger on its consolidated income statement instead.

Speaking on the release, Seek chair Graham Goldsmith said:

As an independent entity, the Fund can make the long-term investment decisions required to build large and sustainable businesses. With greater access to capital, the team can support the existing portfolio and make new investments in the human capital management sector. SEEK is pleased to retain all of its existing economic exposure to these high growth businesses.

Seek share price snapshot

The Seek share price has posted a year to date return of 1.65%, extending the previous 12 months’ gain of 35%.

Whilst it has lagged the S&P/ASX 200 Index (ASX: XJO) this year to date, Seek shares have outpaced the broad index’s return of around 25% over the past year.

The post Seek (ASX:SEK) share price slides after growth fund spin off appeared first on The Motley Fool Australia.

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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 recommended SEEK 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 Core Lithium Ltd (ASX: CXO) share price has come out of a trading halt today and shot straight to a record high. This comes after the emerging lithium producer announced an update to its capital raising efforts.

Core Lithium shares rocketed 20.83% at market open to an all-time high of 43.5 cents. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.46% to 7,866 points.

Core Lithium shares have since retreated to 40 cents apiece, 9.72% higher than yesterday’s close.

What’s driving the Core Lithium share price higher?

Investors are buying Core Lithium shares as the company prepares to fund its Finniss Lithium Project.

According to its release, Core Lithium advised it has received strong support to raise $91 million through an institutional placement. The offer was presented to domestic and global investors at an issue price of 31 cents per share. This represents a 13.9% discount on the closing price on 6 August 2021, and a 2.4% discount on the 5-day volume-weighted average price.

In total, the company’s registry will gain 293 million new ordinary shares.

Core Lithium will use its existing placement capacity to create the new shares. Under listing rule 7.1, this allows the company to issue up to an additional 15% of its total shares without shareholder approval. The company will use an extension to the listing rule (7.1A) to issue the remaining shares (117.3 million).

With the $34 million equity investment from Ganfeng Lithium Co Ltd, Core Lithium will use the combined funds to develop its Finniss Lithium Project. This includes upfront capital expenses such as plant construction, the Grants open pit pre-strip, and other mine establishment costs.

In addition, the company will make an environmental bond payment to the Northern Territory government.

Core Lithium will also use some of the monies for a drilling program to accelerate reserve and resource growth.

A share purchase plan (SPP) is on offer to raise an additional $15 million. The SPP applies to retail investors at the same price as the placement. The closing date of the SPP is 2 September 2021.

What did the managing director say?

Core Lithium managing director Stephen Biggins commented:

We are very pleased with the overwhelming support received in the Placement in this transformational moment for Core.

Together with the Ganfeng equity investment and the share purchase plan, we are now fully funded to complete Stage 1 development of Finniss and have the financial flexibility to assess future growth initiatives.

… We look forward to executing on our plan to commence anticipated first production in late 2022.

The Core Lithium share price has gained more than 700% over the past 12 months and is up 165% year to date.

The post Core Lithium (ASX:CXO) share price rockets 20% on capital raising efforts appeared first on The Motley Fool Australia.

More reading

• Why the Core Lithium (ASX:CXO) share price remains frozen today
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• Why the Core Lithium (ASX:CXO) share price is advancing 6% 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 Lake Resources N.L. (ASX: LKE) share price has been a very strong performer on Wednesday.

In morning trade, the lithium explorer’s shares are up a sizeable 11% to 64 cents.

This means the Lake Resources share price is now up a massive 700% since the start of the year.

Why is the Lake Resources share price charging higher?

Investors have been bidding the Lake Resources share price higher today after it released an update on the funding of its flagship Kachi Lithium Project. This clean lithium project is based in the Catamarca Province within the Lithium Triangle in Argentina.

According to today’s announcement, UK Export Finance has provided a strong expression of interest to support approximately 70% of the total finance required for the Kachi Lithium Project. This is subject to standard project finance terms.

The UK Export Finance is the Export Credit Agency of the United Kingdom. In the last five years it has provided 14 billion pounds (A$26.4 billion) of support for UK exports and international trade.

The release notes that the project finance would deliver a significantly lower cost of capital than traditional financing structures, with the principal repaid over an 8.5 year period post-construction.

Though, it is worth noting that the expression of interest is not a binding commitment and is subject to a series of standard project finance terms and due diligence. This includes suitable structured offtake contracts, the successful completion of Kachi’s Definitive Feasibility Study, and an Environmental and Social Impact Assessment (ESIA) to Equator Principles.

A “watershed moment”

Lake’s Managing Director, Steve Promnitz, believes this is a major milestone, which goes some way to explaining why the Lake Resources share price is charging notably higher today.

He said: “This offer is a watershed moment for Lake – to have a leading ECA willing to indicate financial support for Kachi provides an enormous vote of confidence in our clean energy project. The support reflects not only Kachi’s robust financials but also its considerable ESG benefits such as a small environmental footprint, satisfying a number of defined Sustainable Development Goals.”

Mr Promnitz isn’t resting on his laurels, though. He will be working hard to turn this expression of interest into committed funding.

He explained: “We acknowledge that we have significant work to convert this EOI into a committed funding arrangement. We are pleased that a number of international banks have already approached us who have expressed an interest to be part of Kachi’s development and their interest is dependent on having a strong ECA like UKEF.”

“Essentially this EOI is stating that if Lake does what it says it’s going to do in the DFS and ESIA, the project will be funded. Combined with backing from potential international off-takers, investors will increasingly see progress towards successful production and expansion of Kachi, perfectly timed to meet the needs of a decarbonising world,” he concluded.

The Lake Resources share price is now trading within sight of its record high.

The post Why the Lake Resources (ASX:LKE) share price is jumping 11% today appeared first on The Motley Fool Australia.

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• Here’s why the Lake Resources (ASX:LKE) share price is charging 5% higher

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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