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Shares in Rumble Resources Ltd (ASX: RTR) dropped today following news the company has secured the remaining interests in 2 exploration licences. The Rumble Resources share price closed today’s trade at 53.5 cents – 5.26% lower than its previous session’s close.

Rumble Resources announced it has exchanged a total of 1.3 million new shares for the 30% remaining stakes in two separate exploration licences at the Braeside Project. It already held a 70% interest in both licences.

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

Wholly owned project

The Rumble Resources share price is dropping today after it bought the remaining interest in 2 exploration licences at the Braeside Project.

The Braeside Project covers 670sq km in Western Australia’s Pilbara region. It consists of 4 exploration licences.

Ramble Resources announced it has bought 30% of licence E45/2032 from Maverick Exploration Pty Ltd. In return, it will provide Maverick Exploration with 1.8 million new fully paid ordinary shares.

The company also paid 500,000 new fully paid ordinary shares to Great Sandy Pty Ltd for the remaining 30% stake in licence E45/4368.

The Braeside Project houses deposits of zinc, lead, silver, vanadium, and copper.

It also houses a small-scale mine named Ragged Hills, which historically produced high-grade lead, zinc, and silver.

Over multiple phases of exploration, Rumble Resources has previously identified 45 priority targets at the Braeside Project.

The company also owns the Warroo Project and Lamil Project, which are both located nearby the Breaside Project.

In total, the 3 projects cover 2738.6sq km.

Rumble Resources share price snapshot

Despite today’s fall, the Rumble Resources share price has been performing exceptionally well lately.

It has gained a whopping 345% since the beginning of 2021. It has also gained 311% since this time last year.

The company has a market capitalisation of around $350 million, with approximately 614 million shares outstanding.

The post Here’s why the Rumble Resources (ASX:RTR) share price fell 5% today appeared first on The Motley Fool Australia.

More reading

• Why the Rumble Resources (ASX:RTR) 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 Weekend Sunrise on Sunday to discuss the latest COVID lockdown crisis, whether the RBA will need to respond, and how to make sure you’re not getting dudded on your credit card.

The post Another lockdown. Will the RBA move? Plus, making sure you have the best credit card appeared first on The Motley Fool Australia.

More reading

• ASX 200 rises, API soars, Wesfarmers up
• Here’s why the Rumble Resources (ASX:RTR) share price fell 5% today
• 75% of Aussies think the Bitcoin (CRYPTO:BTC) bubble will burst
• Why the Grange Resources (ASX:GRR) share price is up 27% in a week
• Why is the Mineral Resources (ASX:MIN) share price up 4% today?

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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Cryptocurrencies like Bitcoin (CRYPTO: BTC) have arrived as a mainstream investment in 2021.

This is because institutional investors have started buying into the asset.

It’s difficult to work out precisely why the professionals have changed their tune. After all, the criticism that the cryptocurrencies don’t have any intrinsic value has not altered. 

The value of the currency is still purely driven by supply and demand.

Despite increasing ownership, it seems most Australians share this scepticism.

New research from comparison site Finder shows that 73% of Australians think Bitcoin is a ‘bubble’ that will eventually burst.

One Bitcoin was worth about $450 in 2015, while today one Bitcoin is worth more than $45,000. That’s a 100-multiple return in six years.

Related to the bubble forecast is that 63% of those surveyed thought Bitcoin is a “purely speculative” investment.

Medallion Financial Group managing director Michael Wayne admitted to The Motley Fool last month that there are many people with valid investment theses for cryptocurrencies.

“I wish these people the best luck, but also caution that there’s an equally as good chance it could all end in tears.”

Bitcoin believers are likely to be younger

Despite the scepticism found in the study, more than one third of Australians (35%) thought Bitcoin would eventually be used more than fiat currency.

“While only 17% of Aussies own cryptocurrency, twice that amount believe it has a significant role to play in the future of currency,” said Finder personal finance expert Kate Browne.

Not surprisingly, generation Z was the most likely to believe in Bitcoin’s world domination. More than half of them, and 45% of millennials, thought fiat currency would one day take a back seat.

Marcus Today director Marcus Padley said last month that the volatility in value puts off most older Australians from buying into cryptocurrencies.

“Bitcoin isn’t an investment — it’s too volatile. Certainly not for my [client] demographic, as most of my members are over the age of 60,” he told ABC News Breakfast.

“It’s too much of a gamble. It’s ‘unannualisable’.”

Funnily enough, the Finder research showed Australians were split right down the middle on whether Bitcoin is “a legitimate investment”.

The post 75% of Aussies think the Bitcoin (CRYPTO:BTC) bubble will burst appeared first on The Motley Fool Australia.

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• This little known token has gained 40 times more than Bitcoin today
• These 5 cryptos outperformed Bitcoin in FY21, delivering more than 2500%
• This is the only reason to invest in Bitcoin
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high

Motley Fool contributor Tony Yoo owns shares of Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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 Grange Resources Ltd (ASX: GRR) share price has waltzed through today’s session in the green. Grange Resources’ shares closed at 78.5 cents, up 4.67% on the day.

Including today’s gains, the company’s share price is up 30% over the previous 5 trading sessions.

Whilst there was no market sensitive news for the company today, let’s take a look at what it’s been up to lately.

Firstly – who is Grange Resources?

Grange Resources stands on the podium as one of Australia’s leading producers of iron ore pellets.

The company has three key locations in Tasmania and Western Australia that produce more than 2.2 million tonnes of iron ore products and more than1.2 billion tonnes of high-quality mineral resources.

Grange originates the bulk of its revenue from iron ore sales into China, Japan, Australia and Korea, but also recognises revenue from housing unit developments in these regions.

Iron ore and the Grange Resources share price

Shares in the minerals exploration and production company have climbed 45% over the previous month, outpacing the S&P/ASX 200 Index (ASX: XJO)’s return of 0.20% over this period.

At the same time, iron ore spot prices have surged by 39% year to date.

Large upticks in the price of iron ore occurred during May where the price ran from $179 to highs of $208 by the end of that month.

It’s quite possible investors have rewarded Grange Resources shares lately as the company has high exposure to iron ore through its core operations.

Since 30 May, the Grange Resources share price has skyrocketed from 52 cents to today’s close of 78.5 cents, a 51% jump.

Grange’s earnings results

There has been no market sensitive information released by the company since its quarterly report on 27 April 2021.

In its filings, the company showed positive results for Q2 2021, increasing pallet production to 616 kilotonnes, up from 479 kilotonnes the previous quarter.

The company also realised a 25% increase in average prices received to $297.66 per tonne during the quarter.

Grange Resources also grew its cash position considerably over this time from ~$74 million to $258 million, as demonstrated by the company’s balance sheet.

Following this announcement, the Grange Resources share price has climbed 31% to today’s market price.

Foolish takeaway

The Grange Resources share price continues its positive run this year to date, having jumped 27% into the green over the previous 5 trading sessions and 42% over the last month.

The run-up in share price for the company is possibly a result of iron ore prices running hot and positive earnings releases in earlier months.

At the time of writing, Grange Resources has a market capitalisation of $908 million and trades at a price to earnings ratio of 4.46.

The post Why the Grange Resources (ASX:GRR) share price is up 27% in a week appeared first on The Motley Fool Australia.

More reading

• 75% of Aussies think the Bitcoin (CRYPTO:BTC) bubble will burst
• Why is the Mineral Resources (ASX:MIN) share price up 4% today?
• Why the Liontown Resources (ASX:LTR) share price is in a trading halt
• Here’s why the NRW (ASX:NWH) share price is rocketing 13% today
• Why Bell Financial, Sayona Mining, Strike, & Soul Patts are sinking

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

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The Mineral Resources Ltd (ASX: MIN) share price continues to trend higher, adding another 4.21% today to $59.57.

The company has operations in both iron ore and lithium mining, as well as a mining services division offering services including processing, crushing and logistics.

What’s driving the Mineral Resources share price?

The Mineral Resources share price is enjoying the best of both worlds with iron ore and lithium peers rallying strongly on Monday.

Iron ore majors BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) have finished 3.36%, 3.18% and 1.91% higher today.

According to Mineral Resources, the company is Australia’s 5th largest iron ore producer, with aspirations to more than triple its iron ore production in the next five years from 20 million tonnes per annum (Mtpa) to 90Mtpa.

Iron ore prices have continued to defy expectations, currently trading around US$215/tonne. On the back of sky-high prices, Mineral Resources is wasting no time capitalising with its production plans.

The company also operates two high-profile lithium joint ventures, one with Chinese lithium giant Ganfeng and the other with US-based Albemarle.

Pleasingly, ASX lithium heavyweights, Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) also have delivered a strong showing today, up 2.94%, 2.35% and 2.5% respectively.

To capitalise on surging lithium prices, an upgrade project is currently underway with its Ganfeng joint venture, aiming to expand Mt Marion’s production from 206,000 tonnes of spodumene concentrate per annum to 450,000 tonnes pa.

More broadly speaking, resources is the best performing sector on Monday, with the S&P/ASX Materials (INDEXASX: XMJ) up 2.22%.

Mineral Resources share price snapshot

The Mineral Resources share price set a new all-time record high of $59.68 this afternoon.

The company’s shares have been a standout performer, running 59% year-to-date and 162% in the last 12 months.

Mineral Resources has a market capitalisation of about $11.2 billion. The figure pales in comparison to iron ore giants such as Fortescue, which has a market capitalisation of about $75.9 billion.

The post Why is the Mineral Resources (ASX:MIN) share price up 4% today? appeared first on The Motley Fool Australia.

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• Why this sector is lifting the ASX 200 higher today
• These 3 ASX 20 shares are up more than 60% in a year

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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The Liontown Resources Limited (ASX: LTR) share price missed out on the strong gains being made by the share market on Monday.

This is because the lithium explorer requested a trading halt before the market open this morning.

Why is Liontown Resources share price in a trading halt?

According to the release, Liontown Resources requested the halt pending an announcement in relation to a capital raising.

The release explains that management expects to make the announcement prior to the commencement of trading on Wednesday, with the Liontown Resources share price remaining halted until then.

This certainly is an opportune time for the company to raise funds. With lithium miners such as Orocobre Limited (ASX: ORE) recently revealing very strong lithium price increases, the lithium sector has been on fire.

In fact, prior to its trading halt, the Liontown Resources share price had doubled in value in 2021 and was trading within an inch of its record high.

Why is Liontown Resources raising funds?

Liontown Resources has yet to reveal to the market what it is aiming to raise and why.

However, the AFR is reporting that the company is trying to raise $50 million at 76 cents per new share. This represents a discount of 10.1% to the Liontown Resources share price at the close of play on Friday.

The report advises that the proceeds from the capital raise will go toward accelerating the construction and production of its flagship Kathleen Valley Tantalum Project. Management reportedly sees an opportunity to capitalise on an expected market deficit in the lithium sector. As a result, it is aiming to deliver its first production 12 months ahead of schedule.

In addition to this, the company is believed to be using some of the funds to support further exploration and drilling of its hard rock lithium Buldania site.

Liontown Resources last tapped the market for funds in October. At that point, the company raised $12.5 million at 23 cents per new share.

The post Why the Liontown Resources (ASX:LTR) share price is in a trading halt appeared first on The Motley Fool Australia.

More reading

• Why Australian Ethical, Clinuvel, Liontown Resources, & Tabcorp shares are dropping
• Here are the 5 best performing ASX All Ords shares from FY21
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• Liontown (ASX:LTR) share price hits new 52-week high
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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 NRW Holdings Limited (ASX: NWH) share price is one of the ASX’s top performers today. This comes after the diversified service provider announced the sale of its mobile mining assets.

At the time of writing, NRW shares are up 13.27%, trading at $1.75.

What’s driving the NRW share price today?

Investors appear to welcome the company’s latest news, sending the NRW share price to a new monthly high.

In its release, NRW advised that Boggabri Coal Operations, part of the Idemitsu Group, will acquire the majority of the major mining equipment from Golding Contractors.

Established in 1942, Golding Contractors is a wholly-owned subsidiary of NRW focused on delivering civil infrastructure, urban and mining services. The company is headquartered in Queensland and operates on the east coast of Australia.

Boggabri Coal exercised an option to buy 38 major mobile mining assets under the maintenance services and hire agreement. The companies are targeting a completion date for the equipment transfer by the end of this month.

While the transaction is being processed, Golding Contractors will continue to perform maintenance services on site, operating the existing mobile mining assets along with 50 other pieces of major equipment.

NRW revealed that the taken-up option would reduce the group’s pre-tax earnings of around $1.8 million per year. The equipment will be sold for roughly $81 million, with $64 million used to pay down asset financing debt. Unaudited pro forma net debt stands at around $115 million and is projected to fall to $34 million after payment.

At the end of June 2021, NRW had approximately $145 million in cash with $260 million of debt.

What did the head of NRW say?

NRW CEO and managing director Jules Pemberton touched on the sales agreement, saying:

The option for Boggabri Coal Operations to acquire all or part of the associated mining fleet was identified at the time of the acquisition of BGC Contracting. This transaction will reduce debt and increase return on capital employed.

We look forward to continuing to support BCO to ensure we are best placed to continue to provide our services beyond the current contract completion date of December 2022.

The NRW share price is trading 6.67% higher than this time 12 months ago. But after climbing to a 52-week high of $3.19 in January, shares in the company changed direction and have fallen more than 40% in 2021 alone.

The post Here’s why the NRW (ASX:NWH) share price is rocketing 13% today appeared first on The Motley Fool Australia.

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• Maca (ASX:MLD) share price sinks 6% on Karara Project update
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• Brokers name 3 ASX shares to buy now

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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In late afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a sold gain. At the time of writing, the benchmark index is up 0.8% to 7,330.4 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:

Bell Financial Group Ltd (ASX: BFG)

The Bell Financial share price is down 6.5% to $1.67. This follows the release of the financial services company’s half year profit guidance. According to the release, Bell Financial is expecting to deliver a first half profit before tax of $24 million. While this is a record, it is just a 3% increase on the prior corresponding period. The market appears to have been expecting better.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down 2% to 9.5 cents. This morning the lithium explorer announced the outcome of its share placement. According to the release, Sayona Mining has received strong support to raise $45 million through its placement to institutional and sophisticated investors. These funds will be raised at a 21% discount of 7.5 cents per new share.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price has fallen 6% to 30.5 cents. This is despite the release of a potentially positive announcement this morning. That announcement reveals that Strike has completed production testing at its West Erregulla 4 well. The results from this testing “demonstrate similar productivity characteristics consistent with the regional Permian gas fairway wells from Waitsia and Beharra and supports the progression of the Phase 1 development.”

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

The Washington H. Soul Pattinson share price is down 1.5% to $33.09. This morning the investment house said it would support the takeover offer of Australian Pharmaceutical Industries Ltd (ASX: API) by Wesfarmers Ltd (ASX: WES). Some investors may believe that Soul Patts is selling out too cheaply.

The post Why Bell Financial, Sayona Mining, Strike, & Soul Patts are sinking appeared first on The Motley Fool Australia.

More reading

• Why is the Soul Patts (ASX:SOL) share price down this Monday?
• Strike Energy (ASX:STX) share price see-sawing today
• Sayona Mining (ASX:SYA) share price sinks 8% on capital raising efforts
• ASX 200 midday update: Wesfarmers makes API takeover bid, BHP & Rio Tinto rising
• Wesfarmers (ASX:WES) share price rises on API takeover offer

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 owns shares of and has recommended Washington H. Soul Pattinson and Company 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 Crown Resorts Ltd (ASX: CWN) share price is slipping today amid reports there’s increasing risk the Victorian royal commission could find the gaming giant unfit to hold its Melbourne casino licence.

Additionally, it’s rumoured Crown executives, including its chair, might soon be facing the chopping block as a result of Crown’s alleged failings.

At the time of writing, the Crown share price is $10.85 – 1.27% lower than its previous close.

While the fall may look slight, it’s a stretch behind the broader market. Currently, the All Ordinaries Index (ASX: XAO) is 0.75% higher today. The S&P/ASX 200 Index (ASX: XJO) is also in the green, having jumped 0.78%.

Let’s take a closer look at the news that may be driving the Crown share price down today.

What, or who, is at risk at Crown?

According to reporting by the Australian Financial Review (AFR) and The Australian, Crown might be in full damage control as it realises there’s a real chance it may not walk away from the Victorian royal commission with its gaming licence.

The royal commission is looking into Crown’s suitability to run its Melbourne casino after the Bergin inquiry found it was unsuitable to run its Sydney casino. The Bergin inquiry found Crown ignored money laundering and had company links to organised crime.

While a takeover bid and a merger proposal have kept the Crown share price in the green this year, market watchers will likely be keeping a close eye on the company from now on.

According to the AFR, heads may soon roll as Crown seeks to protect its licence. Its chair Helen Coonan’s may be the first on a spike.

Coonan has claimed to be heading a culture shift at the gaming casino, but both publications question her sincerity.

On 2 July, lawyers sent a letter on behalf of Crown to the Victorian Gaming Minister requesting a meeting and claiming it’s “in the public interest” that Crown holds a casino licence in Victoria.  

The AFR stated the letter is evidence that Crown is beginning to panic.

Today’s movement of fhe Crown share price might well be evidence the market is feeling anxious too.

Crown share price snapshot

Despite falling 15% since 1 July, the Crown share price has gained 12% this year.

It has also gained 20% since this time last year.

The company has a market capitalisation of around $7.4 billion, with approximately 677 million shares outstanding.

The post Crown (ASX:CWN) share price falls amid reports heads are on the block appeared first on The Motley Fool Australia.

More reading

• Crown (ASX:CWN) share price lower following earnings guidance update
• Top brokers just upgraded these ASX shares to “buy”
• Crown (ASX:CWN) share price lower despite Oaktree proposal

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 Fortescue Metals Group Limited (ASX: FMG) share price is a top performer on Monday, currently rallying 3.14% to $24.62.

2021 has been a choppy year for Fortescue shares, which hit an all-time high of $26.40 on 8 January before plunging to lows of $18.87 by 22 March.

Despite the recent volatility in the Fortescue share price, it’s rallied by around 65% in the past 12 months.

These moves have broadly coincided with the surge in iron ore prices, from about US$110 per tonne a year ago, to US$215 today.

With sky high iron ore prices supporting the bullish performance of Fortescue shares, where could iron ore prices go next?

The Australian Government’s commodity forecaster, Office of the Chief Economist (OCE) published its quarterly report last month, providing an outlook for iron ore prices, demand and supply.

Let’s take a look at what the OCE had to say about iron ore.

What’s driving iron ore prices?

The OCE report pointed to “strong demand for steel products in China and other advanced economies, as the global recovery continues to pick up pace coming out of the COVID-19 pandemic.”

“In China, fiscal stimulus has targeted new infrastructure investment throughout 2020 and into 2021, driving higher construction activity and demand for steel.”

From a supply-side perspective, it said that “tightness in supply from the world’s two major producers — Australia and Brazil — has also contributed to the substantial rally in iron ore prices.”

What’s next for iron ore?

Despite sky high iron ore prices, the OCE isn’t bullish about the medium-to-long term outlook for iron ore prices.

According to the quarterly report, “prices for iron ore are expected to ease from the second half of 2021, leading to some moderation in earnings over the subsequent two years. Total export value for iron ore is forecast to be $137 billion in 2021–22 and $113 billion in 2022–23.”

“Prices are forecast to average around US$150 a tonne in 2021, before falling to below US$100 a tonne by the end of 2022, as Brazilian supply recovers and Chinese steel production softens”.

What does this mean for the Fortescue share price?

According to Goldman Sachs, the Fortescue share price could be vulnerable to a fall in iron ore prices.

The broker currently has a sell rating on the iron ore giant’s shares with a 12-month target price of $18.20.

The post The Fortescue (ASX:FMG) share price is surging, but what’s next for iron ore? appeared first on The Motley Fool Australia.

More reading

• Why this sector is lifting the ASX 200 higher today
• These 3 ASX 20 shares are up more than 60% in a year
• Why the Fortescue Metals (ASX:FMG) share price is flying high on Monday
• ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat
• Why the Fortescue (ASX:FMG) share price is getting left behind in 2021

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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