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If you’re wanting to build your wealth over the long term, then you’ll no doubt be on the lookout for some quality buy and hold options.

If that is the case, then you might want to look at the ASX shares listed below. Here’s why they could be excellent buy and hold investments:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX share to consider as a buy and hold investment is this pizza chain operator. Thanks to a combination of same store sales growth, acquisitions, and its international expansion, Domino’s has been a very strong performer over the last decade.

The good news is that these same factors are expected to underpin further strong growth over the next decade. In fact, management is aiming to double its store network during this time in existing markets. It has also just boosted its addressable market by acquiring the Domino’s Taiwan business. And with the company still having significant balance sheet capacity, its acquisitions may not stop there.

One broker that remains positive on its outlook is Bell Potter. It currently has a buy rating and $122.00 price target on its shares.

Xero Limited (ASX: XRO)

Another ASX share to consider as a buy and hold option is Xero. It is a provider of a cloud-based business and accounting solution. Xero’s platform is used by small to medium sized businesses around the world to handle a full suite of tasks. This includes accounting, payroll, and invoicing.

Xero has been bolstering its offering with bolt-on acquisitions. These acquisitions are strengthening its ecosystem of apps that work within its platform.

This is being seen as a key driver of growth in the future. For example, Goldman Sachs believes that the company has a massive opportunity to monetise the ecosystem and drive strong revenue growth over the coming decades.

In light of this, the broker has currently got a buy rating and $151.00 price target on its shares.

The post 2 excellent ASX shares that could be buy and hold options appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• How did the S&P/ASX All Technologies Index (XTX) perform in FY21?
• ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat
• 5 things to watch on the ASX 200 on Monday
• Here’s how some of the top ASX SaaS shares performed in FY21

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 Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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Are you wanting to boost your portfolio with some blue chip ASX 200 shares in July?

Then you might want to look at the blue chips listed below. Here’s what you need to know about them:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company with a portfolio of warehouses, large scale logistics facilities, and business and office parks.

Goodman Group has been growing at a solid rate for years thanks to the success of its own+develop+manage model. This model sees Goodman own high quality properties, develop properties in key locations to meet customer needs, and manage the premium real estate it invests in globally.

When it comes to choosing properties, Goodman focuses on investing in and developing high quality industrial properties in strategic locations, close to large urban populations, and in and around major gateway cities globally. It notes that this is where demand is strong and transformational changes are driving significant opportunities for its business.

FY 2021 has been another year of growth for Goodman. Management recently revealed that it expects to achieve its guidance for operating profit of $1.2 billion and earnings per share growth of 12%.

Morgan Stanley is a fan of Goodman. It currently has a buy rating and $23.00 price target on its shares.

ResMed Inc. (ASX: RMD)

Another blue chip ASX 200 share to look at is ResMed. It is a medical device company with a focus on the sleep treatment market.

The sleep treatment market certainly is a great place to be. Management estimates that there are over 1 billion people globally that suffer from sleep apnoea. And with the vast majority of these people yet to be diagnosed, this gives ResMed a significant market opportunity to grow into.

And thanks to its industry-leading products, wide distribution network, and successful acquisitions, ResMed appears well-placed to capture this growing demand over the next decade.

In the near term, ResMed’s growth looks set to be boosted by the upcoming launch of its new CPAP device, AirSense 11, and a significant product recall by a leading rival.

Macquarie is positive on the company and current has an outperform rating and $34.85 price target on its shares.

The post 2 ASX 200 blue chip shares tipped as buys appeared first on The Motley Fool Australia.

More reading

• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• The 5 best ASX 200 healthcare shares of financial year 2021
• 3 ASX 200 shares named as buys
• 3 blue chip ASX 200 shares named as buys
• Leading broker names 3 blue chip ASX shares to buy

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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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If you’re looking for some growth shares to add to your portfolio, then you might want to look at the ones below.

Here’s what you need to know about these highly rated ASX growth shares:

Afterpay Ltd (ASX: APT)

The first ASX growth to look at is Afterpay. This leading buy now pay later (BNPL) focused payments company has been tipped to continue growing at a strong rate for many years to come. This is being underpinned by the increasing popularity of the BNPL payment method as consumers turn away from credit cards. In addition to this, the company’s global expansion and the launch of new offerings such as Afterpay Money and pay anywhere are supporting its growth. The latter will soon allow US consumers to shop with some of the largest retailers in the world such as Amazon. These retailers collectively account for almost 50% of ecommerce volume in the US. Morgan Stanley remains positive on the Afterpay’s outlook. The broker has an overweight rating and $145.00 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to look at is this leading online furniture and homewares retailer. Temple & Webster has been tipped as a company that could grow strongly over the coming years thanks to its strong market position and the shift to online shopping. And while COVID-19 has been a big boost to sales, it is worth noting that online furniture shopping is still in its infancy compared to other retail categories. This gives Temple & Webster a significant market opportunity to grow into over the next decade. Morgan Stanley is also a fan of Temple & Webster. It currently has an overweight rating and $15.00 price target on its shares.

Whispir Limited (ASX: WSP)

A final ASX growth share to look at is Whispir. It is a software as a service (SaaS) communications workflow platform provider used by 750+ businesses globally to automate interactions between them, their people, and their customers. Management notes that its customers use Whispir’s software to create interactive, multi-party and omnichannel communications from templates, solving simple to complex communications workflow tasks. Demand has been growing strongly for its platform. This has underpinned stellar recurring revenue growth in recent years. Ord Minnett is bullish on Whispir. It currently has a buy rating and $4.25 price target on its shares.

The post 3 ASX growth shares named as buys appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• How did the S&P/ASX All Technologies Index (XTX) perform in FY21?
• Up 12% in a month, is there more to come from the Afterpay (ASX:APT) share price?
• What this leading broker thinks about Afterpay (ASX:APT) and Zip (ASX:Z1P) shares in July
• These 3 ASX 20 shares are up more than 60% in a year

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 AFTERPAY T FPO, Temple & Webster Group Ltd, and Whispir Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Temple & Webster Group Ltd and Whispir 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 Woolworths Group Ltd (ASX: WOW) share price is in the green. By close of trade today, shares in the retailer were selling for $38.21 – up 0.53%. For context, the S&P/ASX 200 Index (ASX: XJO) ended the day 0.02% lower.

The positive price rise comes after The Australian reported Woolworths will be launching its first ‘dark store’.

Let’s take a closer look at the news.

Woolworths’ new dark store

Woolworths has submitted plans to open a dark store in the southern suburbs of Sydney. A dark store is only for the fulfilment of online orders – including pick-up for the first time, and delivery.

The Australian says this facility is just one of several similar sites that will be developed as the company focuses on online and suburban sales.

“To keep pace with customer expectations, we’re planning to open a new customer fulfilment centre in (southern Sydney) to offer more delivery windows and an even more reliable service to our online shoppers,” Woolworths director of e-commerce Annette Karatoni told the paper.

E-commerce sales increased 63% across the group in the third quarter of FY21 to $1.3 billion. Its Australian food division saw e-commerce revenue increase 90.5% to $878 million. E-commerce sales for New Zealand food, Big W, and the now demerged Endeavour Group Ltd (ASX: EDV) increased 37.9%, 34.8%, and 23.8% respectively.

Investors don’t seem to mind this expansion into digital sales, judging by the 17.4% rise in the Woolworths share price over the past year.

The company has 3, soon to be 4, of what it calls “micro-fulfilment centres” that act in a similar capacity, but for delivery orders only. Woolworths also said it would build an automated customer fulfilment centre in Auburn in Sydney’s western suburbs.

Woolworths share price snapshot

Year to date, Woolworths shares have increased around 12.7%. That includes the 15% fall in value the company saw on the day of its demerger with Endeavour Group.

The current Woolworths share price is only 70 cents lower than its 52-week record of $38.91.

Woolworths has a market capitalisation of around $48 billion.

The post Woolworths (ASX: WOW) share price up amid new ‘dark store’ plans appeared first on The Motley Fool Australia.

More reading

• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat
• Where to next for the Woolworths (ASX:WOW) share price?
• Here’s what leading brokers say about the Woolworths (ASX:WOW) share price in July
• Woolworths (ASX:WOW) share price dips as experts predict growth

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 Cimic Group Ltd (ASX: CIM) share price ended the day higher following a media release by its 50% owned investment partnership, Ventia.

At the closing bell, the engineering group’s shares finished 1.02% higher to $19.79.

What did Ventia announce?

Cimic shares advanced throughout the day after investors appeared pleased with the company’s latest news.

In today’s update, Cimic advised that Ventia’s telecommunications business, Visionstream Australia, has been awarded a significant new contract with NBN Co.

The deal is estimated to generate roughly $400 million in revenue to Ventia over a 2.5-year term. This is subject to work order and volumes, however.

The N2P Evolution contract will support NBN Co’s plans to extend its fibre technology into communities around Australia. It hopes that up to 75% of homes and businesses will be on the fixed line network by 2023.

NBN Co is continuing its rollout of fibre, in which eligible premises currently connected via Fibre-to-the-Node technology will progressively gain access to Fibre-to-the-Premises (FTTP) technology.

Works under the new contract are scheduled to commence immediately.

Ventia Group CEO, Dean Banks commented:

We are proud to be extending our long-term relationship with NBN Co. We will be using our knowledge of the nbn network – combined with our extensive experience managing other large-scale telecommunication network build and maintenance programs – to continue supporting the delivery of improved digital connectivity for our communities.

Ventia group executive of telecommunications, Tim Harwood went on to add:

We will deliver these works across Queensland, New South Wales and Victoria utilising our client-focused, innovative and sustainable approach.

We were instrumental in the delivery of the initial nbn build program and the subsequent maintenance of the nbn network over the past decade, and we are looking forward to delivering this new program of work.

About the Cimic share price

Since hitting a 52-week low of $16.86 in April, the Cimic share price has rebounded by more than 15%. However, Cimic shares are still trading at similar levels to those seen in mid-February, when their value nosedived 16% on the group’s full-year results.

Cimic has a market capitalisation of around $6.1 billion, with approximately 311 million shares outstanding. The company ranks 85th on the ASX in terms of market value.

The post Cimic (ASX:CIM) share price climbs higher on significant contract news appeared first on The Motley Fool Australia.

More reading

• Why the Cimic (ASX:CIM) share price is in positive territory today
• Why the Cimic (ASX:CIM) share price is edging higher 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 S&P/ASX 200 Index (ASX: XJO) was flat today, falling by 0.02% to 7,332 points.

Here are some of the highlights from the ASX:

Select Harvests Limited (ASX: SHV)

The Select Harvests share price soared around 16% today after the nut business gave investors an update about its crops and the market.

Select Harvests said that its 2021 harvest has been completed and 100% of the 2021 crop has been delivered to the Carina West processing facility.

With over 60% of the crop processed, it estimates that the crop volume, including from the acquisition of the Piangil orchard, will be approximately 28,250 MT, up from the 2020 crop volume of 23,250 MT.

Management said that processing productivity continues to improve, with the prior year investments in technology delivering efficiency gains and further enhancing post farm gate quality.

Select Harvests also said that the almond industry has experienced significant growth in global demand across all markets, particularly in the traditional markets of India, Europe and China.

Australian almond exports year on year are up 54%, with the South and Central Asian (India) market up 200%, Europe up 69% and the North East Asian (China) market up 9% during the period.

Continued strong shipment numbers and the worsening drought situation in California have led to an appreciation in almond pricing of between 5% and 10% over the last six months.

The business said that 60% of its 2021 crop is committed at prices in the range of A$5.90 per kilo and A$6.40 per kilo. However, the un-committed portion of the crop is the lower value grades.

The development of Select Harvests’ 2022 crop is “progressing well” with good tree health, according to management.

Volumes are benefiting as younger orchards reach maturity. Water supply and pricing is “much improved”.

Polynovo Ltd (ASX: PNV)

Polynovo also gave an update. It said that notwithstanding limited access to US hospitals and surgeons due to COVID, it’s seeing increasing revenue momentum in the US and all other major markets. More than 50% of hospitals are now re-engaging for business.

NovoSorb BTM is a dermal scaffold for the regeneration of the dermis when lost through extensive surgery or burn.

The ASX 200 company said that revenue growth of around 34% is a good indicator of FY21 BTM financial performance and recent business fundamentals have significantly improved.

US BTM revenue in US dollar terms has grown 49% in FY21 over FY20.

The US FY21 fourth quarter BTM revenue was a record US$4.9 million, compared to US$3.3 million in the fourth quarter of FY20.

It saw record monthly BTM revenue of A$3.3 million in June 2021.

FY21 distribution revenue growth was 53% with “strong” increases in Germany, Switzerland and Australia. There has also been further sales in South Africa and India. Finland, Italy and Taiwan has seen “good” first sales in Finland, Italy and Taiwan.

The FY21 Australia BTM revenue has grown 25% despite challenging COVID lockdowns.

The Polynovo share price rose by 1%. 

Nearmap Ltd (ASX: NEA)

The Nearmap share price went up around 14% today after giving an update.

The ASX 200 share said that the annualised contract value is expected to close FY21 at $133.8 million in constant currency terms, exceeding recently upgraded guidance of $128 million to $132 million.

The ACV portfolio in North America saw 54% growth to US$44.5 million. The company said this validated its refined go-to-market strategy. The Australian and New Zealand ACV saw growth of 7% to A$69.1 million.

The HyperCamera3 prototype was tested in flight. Management said this represented a significant technological breakthrough. The commercial roll-out remains on track for FY22.

The post ASX 200 flat, Select Harvest jumps, Nearmap soars appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• Here are 3 ASX 200 shares flying around the markets today
• ASX 200 midday update: Nearmap rockets, Incitec Pivot jumps
• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• Why Nearmap, PolyNovo, Select Harvests, & Youfoodz shares are storming higher

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 Nearmap Ltd. and POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Nearmap 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 Novonix Ltd (ASX: NVX) share price has been going gangbusters today, surging to a mid-afternoon intraday high of $2.69, up 16.5%.

The Novonix share price has since retreated to trade at $2.60 at the market close, up 14.5%

The integrated battery materials developer and supplier has not announced any price-sensitive news since 23 June, where it purchased a second facility to produce anode materials.

But investors have been bidding up the Novonix share price with approximately 9.05 million shares changing hands on Tuesday. This compares to its 10-day average of approximately 1.96 million.

Let’s take a look at what else might be driving a sharp re-rating in Novonix shares.

Battery-related shares are running hot

The Novonix share price isn’t alone in today’s rally. The company supports the global deployment of lithium-ion batteries, and its peers — including battery developers, lithium miners and electric vehicle manufacturers — were also pushing higher.

Talga Group Ltd (ASX: TLG) develops a similar integrated battery anode plant in Sweden to produce anode products and lithium-ion batteries. The Talga share price pushed higher today, up 3.15% to close at $1.31.

Similarly, shares in Ecograf Ltd (AX: EGR) climbed today, closing up 4.17% at 62.5 cents apiece.

Ecograf is also positioned to support the global battery market, with operations in battery anode production and battery recycling.

Elsewhere, ASX lithium shares were surging on Tuesday, with heavyweight miners Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) rallying between 1.63% and 4.88%.

Today’s rally also appears to be supported by gains from Wall Street peers overnight, including top lithium producer Albemarle Corporation and electric car manufacturer Tesla Inc.

About the Novonix share price

The Novonix share price has rallied 111.3% year-to-date, with most of its gains occurring between January and February.

From March onwards, its shares have stalled around the $2.30 level.

With today’s renewed buying interest, the Novonix share price has propped back up to a 5-month high.

The post Why the Novonix (ASX:NVX) share price rocketed 16% today appeared first on The Motley Fool Australia.

More reading

• It’s been a massive year for the Pilbara Minerals (ASX:PLS) share price
• ASX lithium shares are surging on Tuesday. Here’s why
• These 3 ASX 200 shares were big movers this Monday
• Why is the Mineral Resources (ASX:MIN) share price up 4% today?
• Leading brokers name 3 ASX shares to buy 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. owns shares of and has recommended Tesla. 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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If you’re interested in gaining exposure to the small side of the market, then you might want to look at the small cap ASX shares listed below.

Here’s why these small cap ASX shares are ones to watch:

Damstra Holdings Ltd (ASX: DTC)

The first small cap to watch is Damstra. It is a growing integrated workplace management solutions provider which provides a cloud-based workplace management platform that is used by businesses globally. Its platform allows users to track, manage, and protect their workers and assets. Demand has been growing strongly in recent years and has continued in FY 2021. For example, during the third quarter, Damstra’s revenue increased 66% on the prior corresponding period to $6.9 million. This followed its highest ever monthly revenue in March and was underpinned by a 61% increase in active users to 689,000.

MyDeal.com.au Limited (ASX: MYD)

Another small cap to look at is MyDeal.com.au. It is an online retail marketplace with a focus on homewares, furniture, and technology. Like other ecommerce companies, MyDeal has been growing strongly over the last 12 months. This led to the company recently reporting full year sales growth of 111.1% to $218.1 million for the 12 months ended 30 June. This was underpinned by an 83.1% increase in customer numbers to 894,225 and significant momentum in Private Label sales during FY 2021.

Pointerra Ltd (ASX: 3DP)

A final small cap share to watch is Pointerra. It is a technology company that provides a powerful cloud-based solution for managing, visualising, and sharing massive 3D point clouds and datasets. Pointerra’s platform is able to extract vital information from the data that would otherwise take many hours to do. At the end of April, the company’s annualised contract value (ACV) stood at US$7.89 million. This is still only a very small fraction of a total market opportunity that management estimates is worth US$500 billion.

The post 3 growing small cap ASX shares to watch closely appeared first on The Motley Fool Australia.

More reading

• Why the Damstra (ASX:DTC) share price is on the move today
• Why Afterpay, Challenger, MyDeal, & St Barbara shares are charging higher
• Why the MyDeal (ASX:MYD) share price is jumping 20% today
• Here are the 5 best performing ASX tech shares from FY21
• Why Cettire, Damstra, IGO, & Rhipe shares are storming 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. owns shares of and has recommended Damstra Holdings Ltd and Pointerra Limited. The Motley Fool Australia owns shares of and has recommended Damstra Holdings Ltd. The Motley Fool Australia has recommended Pointerra 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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Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s share trading service CommSec tells us the most popular US shares that its ASX investors have been trading the previous week.

Since CommSec is one of the most widely used brokers in Australia, this information can give us an interesting window into what ASX investors are finding exciting over in the USA right now. My Fool colleague James has already taken a look at CommSec’s most popular ASX shares today. But here are the top 10 US shares that CommSec users were trading last week. This week’s data covers 5-9 July.

Tesla in the driving seat, but Apple looking sweet

1. Tesla Inc (NASDAQ: TSLA) – representing 3.5% of total trades with a 67%/33% buy-to-sell ratio.
2. Apple Inc (NASDAQ: AAPL) – representing 2.8% of total trades with a 55%/45% buy-to-sell ratio.
3. GameStop Corp. (NYSE: GME) – representing 2.6% of total trades with a 93%/7% buy-to-sell ratio.
4. Alibaba Group Holding Ltd (NYSE: BABA) – representing 2% of total trades with a 79%/21% buy-to-sell ratio.
5. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2% of total trades with a 66%/44% buy-to-sell ratio.
6. Microsoft Corporation (NASDAQ: MSFT)
7. Amazon.com, Inc. (NASDAQ: AMZN)
8. Nio Inc. (NYSE: NIO)
9. Virgin Galactic Holdings Inc (NYSE: SPCE)
10. Alphabet Inc Class C (NASDAQ: GOOG)

What can we learn from these trades?

That old habits die hard. Last week, we saw Nasdaq newcomer DiDi Global Inc (NYSE: DIDI) make an appearance here after its recent IPO.

Well, this week, we saw the old favourites of ASX investors reclaim their dominance. Electric vehicle and battery manufacturer Tesla is back on top, with investors going from a pretty even buy/sell split last week to decidedly biased towards the buy side this week. That coincides neatly with an 11% increase in the Tesla share price over the past month.

Apple also climbs from 5th spot last week to number 2 this week. Unlike Tesla though, investors are still pretty split down the middle when it comes to buying and selling.

In other news, we see many of the same faces returning. ‘Meme stocks’ like Nio, AMC and GameStop remain popular, as do the US tech blue chips like Apple, Microsoft and Alibaba (which is actually a Chinese company, but US listed). In that vein, we also see the return of Amazon and Google-parent Alphabet after a few weeks’ absence.

It’s interesting to note that Virgin Galactic retains its presence after several weeks of obscurity prior to last week. Perhaps Sir Richard Branson’s well-publicised space flight the other day has inspired some investors.

The post ASX investors were buying Tesla and Apple shares last week appeared first on The Motley Fool Australia.

More reading

• ASX lithium shares are surging on Tuesday. Here’s why
• Why Tesla stock took off on Monday
• The LiveTiles (ASX:LVT) share price is up 14% this month
• This is how Alphabet (still) makes most of its money
• Why Amazon was outpacing the market on Thursday

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares) and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, NIO Inc., Tesla, and Virgin Galactic Holdings Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. 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 Kula Gold Ltd (ASX: KGD) share price surged 32% today after the company announced the discovery of kaolin clays near Southern Cross, Western Australia.

Kula shares settled at 5.7 cents apiece by market close after reaching 6.7 cents at one stage.

Let’s take a closer look at what the announcement has in store for the Australian mineral explorer’s shares.

But first – what is Kula Gold?

Kula Gold is a minerals exploration company based in Western Australia.

Its expertise lies in acquiring “significant geological structures” that are positioned on or near major gold mines. This means its main objective is to find prospective metals, namely gold.

Kula has a market capitalisation of $9.6 million.

What does today’s announcement mean?

Kaolin, also known as kaolinite or ‘white clay’, is used in a variety of skincare products, toothpastes and hair products.

The discovery of the “high quality kaolin clays” is a plus for the company, with recent prices for such kaolin end-products fetching “up to $700 per tonne”.

The company also notes the recent success of several other kaolin miners from the current price action.

Therefore, Kula forms the view the “initial assays are significant in grade” to justify further investigation.

Specifically, the company reported:

RC drilling at the Airfield Project near Southern Cross WA intersected thick >42m vertical kaolin clay development over the 300m drilled length at the newly named Boomerang Kaolin Prospect.

Further touching on the drilling results, the company said:

Whilst Kula’s results are preliminary and need to be confirmed by follow up drilling and assays, the Company
believes that the initial assays are significant in grade and extent and require further investigation and drilling.

Today’s announcement comes after the company announced it had successfully “recognised a geophysical structure” in its Southern Cross Gold project on 2 July.

In its release, Kula explained it had found “large areas of previously unmapped or recognised amphibolite” at this location.

Amphibolite is a stone that is used in paving and road construction. Following the discovery, Kula revealed it had applied for new applications, adding to its 570km2 Airfield location.

Kula share price snapshot

The Kula share price has climbed ~28% this year to date, extending the previous 12 months’ return of 46%.

These gains have outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of ~11.3% this year to date.

The share price is trading just off its 52-week high of 6.9 cents but well above its 52-week low of 2.8 cents.

The post The Kula Gold (ASX: KGD) share price leaps 32% after drilling results 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 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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