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It’s no secret the ASX ­­­– like Australia itself – is home to a multitude of mining companies. And cream-of-the-crop mining shares are often found on the S&P/ASX 200 Index (ASX: XJO).

The ASX 200 has had a good run so far this year. It’s currently 10.03% higher than it was at the start of this year. It’s been boosted again today, with the ASX 200 gaining another 1.65%.

And these 3 mining shares are taking advantage of the ASX 200’s enthusiasm. They’re currently topping the list of the ASX 200’s best performing mining shares of 2021.

Which miners are leading the way?

Pilbara Minerals Ltd (ASX: PLS)

Pilbara Minerals is leading the ASX 200 mining pack so far this year, having gained 68.10% year to date.

Currently, the Pilbara Minerals share price is $1.46.

Pilbara Minerals claims to be the ASX’s leading pure-play lithium producer, with operations near Port Hedland, Western Australia. The company also produces tantalum – a metal often used in alloys and as a filament due to its high strength and melting point.

It has a market capitalisation of around $3.9 billion, with approximately 2.9 billion shares outstanding.

Champion Iron Ltd (ASX: CIA)

Champion Iron shares are currently swapping hands for $6.48 – 34.54% more than they were at the start of 2021.

The company is – you guessed it ­– an iron miner. It has a number of operations in Québec, as well as one in Canada’s Newfoundland and Labrador.

The company has a market capitalisation of around $3.1 billion, with approximately 506 million shares outstanding.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas Rare Earths share price is also up there, having gained 28.23% since the start of this year.

Its shares are currently trading for $5.36 apiece.

As its name suggests, Lynas is a rare earth miner. It has rare earth assets in Australia and a manufacturing facility in Malaysia.

Lynas has a market capitalisation of around $4.9 billion, with approximately 901 million shares outstanding.

The post The top performing ASX 200 mining shares of 2021 appeared first on The Motley Fool Australia.

More reading

• Here are the best performing ASX 200 tech shares so far in 2021
• ASX 200 up 1.3%: Soul Patts-Milton merger, IGO jumps
• 3 top ASX shares in sector selling at 30% discount: expert
• Iluka (ASX:ILU) share price jumps even as it pours water on M&A rumours
• 5 things to watch on the ASX 200 on Tuesday

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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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

Yet again, this buy now pay later provider’s shares were the most traded on the CommSec platform last week. Zip’s shares accounted for 2% of trades on the platform, with just 40% of the volume coming from buyers. Unfortunately for the sellers, the Zip share price jumped almost 14% over the shortened week thanks to improving investor sentiment in the tech sector.

Betashares Nasdaq 100 ETF (ASX: NDQ)

This ETF was popular with investors again last week. The Betashares Nasdaq 100 ETF was attributable to 1.7% of trades on CommSec, with 71% coming from buyers. The technology-focused ETF stormed 4.7% higher during the week, hitting a record high in the process. A rotation back into growth shares gave the index, and therefore the ETF, a boost last week.

BetaShares Global Sustainability Leaders ETF (ASX: ETHI)

This ethical investment focused ETF was also in demand with investors again last week. Its unit were attributable to 1.4% of trades on CommSec, with a sizeable 88% of the volume from buyers. This buying pressure helped drive the ETF up 3.2% for the week.

A2 Milk Company Ltd (ASX: A2M)

This beaten down infant formula company’s shares were back in favour with investors last week. Its shares accounted for 1.4% of trades on the platform, with 58% of the volume coming from buyers. These buyers will certainly have been pleased to see the a2 Milk share price jump 9.5% over the period.

iShares Core S&P/ASX 200 ETF (ASX: IOZ)

Finally, this popular ETF makes the top five again after accounting for 1.3% of trades on CommSec. And with buyers making up 89% of the volume, they will have been pleased to see the ETF carving out a gain of 0.8% for the period.

The post A2 Milk and Zip were among the most traded ASX shares last week appeared first on The Motley Fool Australia.

More reading

• 2 exciting ASX tech shares that could be buys
• Here are the 3 most active ASX 200 shares trading today
• Zip (ASX:Z1P) and Afterpay (ASX:APT) shares withstand market selloff
• Selling some ASX shares before tax time? Here’s what you should know
• These are the 10 most shorted shares on the ASX

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 BETANASDAQ ETF UNITS and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended A2 Milk. 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 recent history, technology shares have often outperformed the S&P/ASX 200 Index (ASX: XJO). In fact, the information technology sector has outperformed the Australian benchmark index 11 out of the past 15 years.

Unfortunately for tech investors, 2021 is so far looking like a win for the passive index investors. But that doesn’t mean that all of the ASX 200 tech shares are suffering this year. Here are the three top techies bucking the trend.

Top 3 ASX 200 tech shares

Last week we recapped the best performers out of all the ASX-listed shares. This one is solely for our tech friends.

The big reveal…

Iress Ltd (ASX: IRE)

Iress is a provider of financial services software across the Asia Pacific, United Kingdom, Europe, United States, and Africa. The $2.52 billion company boasts a customer base of over 9,000 businesses.

Ironically, the Iress share price was in negative territory for the year until earlier this month. An unsubstantiated rumour that the company was in the acquisition sights of a big bidder sent shares flying.

The rumours appear to be whispers in the wind, but the elevated share price has remained. As a result, this ASX 200 tech company’s share price has risen 22.2% year-to-date (YTD).

Megaport Ltd (ASX: MP1)

Despite featuring frequently in the top 10 most shorted ASX shares, Megaport has been the second-best tech share to own from the start of the year. The company which provides flexible connectivity for its customer’s network needs has rallied 27.8% so far in 2021.

A by-product of the pandemic disruption is that more companies are seeking flexible and scalable solutions for their networking needs. This was demonstrated by Megaport’s Q3 FY21 annualised revenue increasing a further 8% to $81 million quarter-over-quarter. This was buoyed by its customers growing from 2,043 to 2,117 during the quarter.

Analysts at UBS have a buy rating and a price target of $17.10 on the ASX tech name. Though, the recent Megaport share price strength has put it above this target, with shares going for $18.20 at the time of writing.

Codan Limited (ASX: CDA)

At the top of the tech podium is metal detector, communications, and tracking solutions manufacturer Codan. If you read our best performing ASX 200 shares roundup last week, this company will look familiar.

A combination of strong metal detector sales and a couple of earnings accretive acquisitions has bumped up the share price so far in 2021.

The first acquisition of Domo Tactical communications adds a long-term supplier of network solutions to more than 20 key United States government agencies. This acquisition is expected to contribute $9 million to the bottom line in its first year of ownership.

Codan’s second acquisition involves a leading US-based provider of mission critical communication solutions. The company known as Zetron is forecasted to be earnings accretive in FY22.

Evidently, investors are pleased about Codan’s expansion. This ASX 200 tech share has delivered a 52.5% return so far this year – making it the best performing.

The post Here are the best performing ASX 200 tech shares so far in 2021 appeared first on The Motley Fool Australia.

More reading

• ASX 200 up 1.3%: Soul Patts-Milton merger, IGO jumps
• 3 top ASX shares in sector selling at 30% discount: expert
• Iluka (ASX:ILU) share price jumps even as it pours water on M&A rumours
• 5 things to watch on the ASX 200 on Tuesday
• ASX tech company Megaport (ASX:MP1) share price hits all-time high

Motley Fool contributor Mitchell Lawler 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 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 S&P/ASX 200 Index (ASX: XJO) has returned to form on Tuesday and is racing higher. In early afternoon trade, the benchmark index is up 1.5% to 7,345.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are surging higher:

Bank of Queensland Limited (ASX: BOQ)

The Bank of Queensland share price is up 5% to $9.22. This appears to be a delayed reaction to news that the regional bank’s acquisition of ME Bank has been given Treasurer approval. Management believes the acquisition will help the bank compete better with the big four.

IGO Ltd (ASX: IGO)

The IGO share price has stormed 6% higher to $7.52. Investors have been buying the clean energy focused mining company’s shares after it revealed that a key condition precedent to forming a new lithium joint venture with Tianqi Lithium Corporation has progressed. As a result, IGO expects the transaction to complete on or before 30 June. The joint venture’s first focus will be on commissioning Train 1 at the Kwinana Lithium Hydroxide Refinery.

Milton Corporation Limited (ASX: MLT)

The Milton share price has jumped 16% to $5.80. Investors have been buying the investment company’s shares after it announced a proposed merger with fellow investment house Washington H. Soul Pattinson and Co. Ltd (ASX: SOL). The arrangement will see the latter acquire 100% of the share capital in Milton it does not already own. The all-scrip proposal values Milton at approximately $6.00 per share. Both companies have close ties and share the same chairman, Robert Millner.

Openpay Group Ltd (ASX: OPY)

The Openpay share price has surged 17% higher to $1.65. This follows news that the buy now pay later provider has entered into an agreement to acquire 100% of Payment Assist for GBP11.5 million. The deal also includes a potential earn-out component of up to GBP17 million. Payment Assist is a leading BNPL provider to the UK automotive sector.

The post Why Bank of Queensland, IGO, Milton, & Openpay are surging higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 up 1.3%: Soul Patts-Milton merger, IGO jumps
• Milton share price rockets 14% after Soul Patts merger news
• Iluka (ASX:ILU) share price jumps even as it pours water on M&A rumours
• Here’s why the IGO (ASX:IGO) share price is racing 9% higher today
• Openpay (ASX:OPY) share price shoots higher on UK acquisition

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 Oneview Healthcare PLC (ASX: ONE) share price has surged as high as 52 cents today, the highest point it’s been since 2019.

The healthcare software company’s shares have pulled back slightly, still up 6.38% trading at 50 cents at the time of writing.

Let’s take a look at what’s driving the Oneview share price out of the doldrums to new highs in 2021.

Oneview reveals contract details

Last Friday, Oneview revealed it had signed public healthcare provider Northern Health, its first Cloud Start customer in Australia.

Cloud Start is a fully-managed Samsung tablet solution, enabling virtual care, entertainment, up-to-date patient information and other services.

Under the agreement, Cloud Start will be deployed at the Northern Health, Stage 2 Inpatient Unit Expansion Project, enabling patients to communicate with their clinicians in a COVID-19 safe manner.

In today’s announcement, Oneview provided the material terms of the contract with Northern Health.

According to the statement, the agreement will include an initial contract for 126 beds with a term of 5 years.

The implementation will include standard software fee arrangements on a per bed per day basis, where no material conditions need to be satisfied before a customer signs up and becomes legally bound to a contract.

Oneview advised that it does not expect the revenue from this deal to be material in 2021.

The Oneview share price hits ten-bagger status

The Oneview share price has taken investors who bought shares in January to the promised land, surging ~1,010% this year from 4.5 cents to 51 cents at the time of writing.

The healthcare technology company first started making moves on 1 February, when it signed a distribution agreement with Samsung. Under the agreement, Samsung would distribute Oneview’s Cloud Start product to healthcare-focused enterprise resellers.

The Oneview share price surged from ~115% from 4.5 cents to 9.5 cents on the day.

The second leg up came about on 12 March, after the company signed an investor awareness agreement with S3 Consortium trading, better known as Next Investors. The company’s shares surged 100% from 8 cents to 16 cents on the day of the agreement.

Since then, the company has continued to kick goals, including the attainment of ISO 27001 certification award, the launch of its cloud-based care experience platform, CXP Cloud Enterprise and Friday’s first Cloud Start customer signing.

The post Up another 6%, Oneview (ASX:ONE) share price hits 10-bagger status today appeared first on The Motley Fool Australia.

More reading

• Why the Oneview (ASX:ONE) share price is climbing today
• These 5 ASX shares are delivering the biggest gains in 2021
• The Pilbara (ASX:PLS) share price is up 20% in two weeks

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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Shares in Sayona Mining Ltd (ASX: SYA) are in the dumps today, at one stage sinking by 13%.

At the time of writing, the Sayona share price has recovered slightly to 5.9 cents – 9.23% lower than its previous close.

It comes after the company ended a trading halt with an update on its bid for Canadian lithium producer North American Lithium Inc (NAL).

According to Sayona’s release, the bid must pass through the Superior Court of Quebec’s commercial division to go ahead. However, it is being contested by an alternative bidder.

Let’s take a closer look at today’s news from the emerging lithium producer.

Court battle

Sayona has entered a joint bid with Piedmont Lithium Inc (ASX: PLL) for NAL. If successful, Sayona’s subsidary Sayona Québec will buy 75% of NAL while Piedmont takes home 25%.

NAL is a lithium miner with a mine and concentrator in the Val d’Or district in Québec.

In 2019, the company halted its operations and sought protection from creditors from the Québec Superior Court. The court ended its protection of NAL later in 2019 and started the process of obtaining bids for the company and its assets.

Sayona submitted its bid for NAL in February 2020. Since then, the bidding process has been pushed back several times because of COVID-19.

Sayona’s joint bid is now being jointly contested by an alternative bidder and an unsecured creditor of NAL. Sayona didn’t name the contesters or their grounds for contesting its joint bid.

Sayona’s motion to acquire NAL was filed to the court on 11 July and a resulting preliminary hearing was held on 18 June.

There, the court scheduled the motion’s substantive hearing for 28 June.

Is successful, Sayona plans to make NAL profitable once more and develop a lithium hub in Canada.

In 2018, NAL produced around 114,000 tonnes of spodumene. It had a nameplate capacity of 180,000 tonnes. With further investment, Sayona believes it also could produce battery-grade lithium carbonate.

Commentary from management

Sayona’s managing director Brett Lynch said of the court process:

We are continuing to work our way through the process of acquiring NAL, as per our joint bid with Piedmont 
Lithium.

We remain confident of progressing this through to successful completion and delivering the benefits of our bid for all stakeholders.

Sayona share price snapshot

Despite today’s dramatic fall, the Sayona share price has been performing exceptionally well lately. It has gained 450% since the start of 2021.

The lithium company has a market capitalisation of around $328 million, with approximately 5 billion shares outstanding.

The post Here’s why the Sayona (ASX:SYA) share price is plummeting 9% appeared first on The Motley Fool Australia.

More reading

• These 5 ASX shares are delivering the biggest gains in 2021
• Why the Piedmont Lithium (ASX:PLL) share price is gaining today
• Why the Piedmont Lithium (ASX:PLL) share price is lifting today
• ASX lithium shares are charging up 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. owns shares of and has recommended Piedmont Lithium Inc. 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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Brokerage is something that most investors love to hate. Charging a fee per trade, brokerage adds to the ‘frictional costs’ of investing and financially punishes investors for trading – especially if an investor trades frequently. Well, some promising news might be heading these investors’ way.

Stake is an Australian brokerage company that has made a name for itself by offering brokerage-free access to the US markets for ASX investors. Due to this lack of brokerage, Stake is often called ‘Australia’s Robinhood’. That’s after the similarly-modelled US company. The Motley Fool has discussed Stake before, which you can read more about here.

Until now, Stake only competed against the other popular ASX brokerage platforms like Commonwealth Bank of Australia‘s (ASX: CBA) CommSec and National Australia Bank Ltd.‘s (ASX: NAB) NABtrade for the trading of US shares. But it looks like this is about to change.

A Stake in the ASX?

According to the company’s website, Stake is planning on allowing its customers to also trade and invest in ASX shares. That’s in addition to the US shares it already offers. Here’s some of what Stake said:

Soon, you’ll be able to invest in all publicly traded stocks and ETFs on the ASX and Chi-X through Stake. But don’t expect the same-old to what’s already out there. We’ll be redefining what brokerage looks like for the ASX, to provide you more control and greater transparency…

We’ll be releasing full details about our offering in the coming months but expect a new ASX brokerage model that’s fresh and exciting.

The post Zero ASX brokerage? Popular broker Stake is launching ASX share trading appeared first on The Motley Fool Australia.

More reading

• CBA (ASX: CBA) tech hiring to amp-up as it nears $200 billion valuation
• ASX 200 up 1.3%: Soul Patts-Milton merger, IGO jumps
• Leading brokers name 3 ASX shares to sell today
• Top broker says the Commonwealth Bank (ASX:CBA) share price is still overvalued
• Why are blue-chip ASX 200 shares selling off today?

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited. 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 Bitcoin (CRYPTO: BTC) price is getting hammered.

One Bitcoin is worth US$32,234 (AU$42,979). That’s down 10% in the past 24 hours. The Bitcoin price is now less than half the all-time highs of US$64,829 reached in mid-April.

And it’s not just Bitcoin that’s falling.

According to data from CoinGecko, the global crypto market cap is currently US$1.31 trillion. That’s down 14.9% over the past 24 hours and down from some US$2.6 trillion just last month.

A valuable lesson in cryptocurrency risk, perhaps, for the estimated 4 million Australians who said they planned to invest in cryptos as a means of accumulating wealth.

Why is the Bitcoin price crashing?

You’ll hear all sorts of reasons why the Bitcoin price is tumbling.

Technical analysts like to point to something called the ‘death cross’.

If you’re not familiar, the term simply means that an asset’s average price over the past 50 days has dropped below its 200-day moving average.

In share markets, this can – but certainly doesn’t always – indicate that a company is under pressure and could suffer further share price falls.

But in the wild west of cryptocurrencies, the ‘death cross’ hasn’t proven a statistically reliable indicator. At least, not yet.

In fact, Bitcoin passed into the dreaded death cross in March 2020. By 15 March 2020, the Bitcoin price was down to US$5,355. And, well, you know what happened next.

The digital token went ballistic, hitting US$64,829 just 13 months later.

So if it’s not the death cross, what is pushing the Bitcoin price lower?

China cracks down on its banks

The Chinese government has been ramping up its efforts to crack down on or even eliminate Bitcoin and Ethereum (CRYPTO: ETH) trading and mining within the Middle Kingdom.

The People’s Bank of China (PBOC) central bank has linked cryptocurrencies to money laundering, financial instability and illegal cross-border transactions.

As Bloomberg reports:

Representatives from Industrial and Commercial Bank of China Ltd., Agricultural Bank of China Ltd. and payment service provider Alipay were reminded of rules that prohibit Chinese banks from engaging in crypto-related transactions… China Construction Bank Corp., Postal Savings Bank of China Co. and Industrial Bank Co. were also at the meeting, according to the PBOC statement.

Jeffrey Kleintop, chief global investment strategist for Charles Schwab & Co said:

The fact that there’s a crackdown there perhaps does take away some of its lustre. I’m not sure it’s a signal of a longer-term change in direction, but it can certainly create some volatility. No one is sure the extent of the crackdown and China is an important player in the Bitcoin market.

Meltem Demirors, chief strategy officer at CoinShares, added, “There’s just a lot of fear, and when there’s fear, people sell risky assets. I do think that Bitcoin’s still perceived as a risk-on asset. Generally, investors are skittish.”

Bitcoin price hit by mining bans

It’s not just Chinese financial institutions that are being banned from handling cryptos.

The Bitcoin price, along with the Ether price, is also under pressure from renewed Chinese bans on crypto mining.

And according to the Cambridge Bitcoin Electricity Consumption Index, China was responsible for approximately 65% of global Bitcoin mining as of April 2020.

Sichuan, the region in China where most crypto mining takes place, is taking steps to stamp out all such activity, with Bloomberg quoting a report from China’s Global Times, stating “the closure of many Bitcoin mines in the province has resulted in more than 90% of China’s Bitcoin mining capacity being shuttered”.

Oh…don’t forget the stablecoin crash

One more lodestone pulling down the Bitcoin price appears to be the rapid crash by stablecoin (not-so-stablecoin?) Titan to almost zero.

Edward Moya, senior market analyst at Oanda Corp, cited the Titan crash in an email (from Bloomberg):

Bitcoin tumbled as the demise over the Titan token raised the pressure of regulators to deliver more protections for the public. Titan’s crypto crash was a surprise to many as it is a partially collateralized stablecoin. Given the risk-off environment that is hitting Wall Street, cryptocurrencies are under pressure.

So with the Bitcoin price now at less than half its record highs, is it time to buy the dip…or time to avoid the falling knife?

I’ll get back with you on that next month!

The post Ignore the ‘death cross’…here’s why the Bitcoin price is crashing appeared first on The Motley Fool Australia.

More reading

• Cryptocurrencies like Bitcoin just tanked again!
• Are 4 million Aussies about to lose a fortune on Bitcoin?
• ASX 200 Weekly Wrap: ASX makes it 5 out of 5
• How Elon Musk’s tweets move the cryptocurrency market
• Is Facebook about to finally launch its cryptocurrency?

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 Red 5 Limited (ASX: RED) share price is racing higher today. This comes following an update on its King of the Hills (KOTH) gold project.

At the time of writing, the gold producer’s shares are up 4.29% to 18.3 cents.

What’s driving the Red 5 share price higher?

Red 5 shares are climbing after the company provided investors with a positive update this morning.

According to its release, Red 5 has awarded a mining services contract to Macmahon Holdings Limited (ASX: MAH).

This follows an in-depth tender process that saw a number of contracting companies compete for Red 5’s open pit and underground mining activities. Red 5 signed a letter of intent (LOI) with Macmahon in early March, leading to the formally awarded contract.

The contract will run for an initial 5-year period beginning in the March quarter of 2022. Macmahon estimates the award will generate revenue of more than $650 million over the life of the deal.

More on the KOTH gold project

The KOTH gold project, wholly owned by Red 5, is situated in the Eastern Goldfields region of Western Australia.

The gold mine has a 16-year life, with more than 2.4 million ounces of ore reserve, and 4.1 million ounces of mineral resource.

The open pit and underground mine is expected to have its first gold pour in the June quarter of 2022.

Management commentary

Red 5 managing director Mark Williams said of the award:

We’re pleased to have finalised agreed contract terms with Macmahon and formally appointed them as our open pit and underground mining contractor. Macmahon is one of the strongest mining contractors in the market, and we are looking forward to partnering with them to deliver Australia’s next significant new gold mine.

Importantly, the contract terms are in line with the mining unit costs outlined in the KOTH FFS. Operational efficiencies and cost benefits have been realised in having both mining operations managed by a single contractor.

Given the current tightness in the labour market in Western Australia’s mining sector, we believe Macmahon is well placed to secure the skilled resources required to operate the underground and open pit mines at KOTH.

The Red 5 share price has sunk more than 40% over the last 12 months. In addition, it is down 27% in 2021 alone.

The post Here’s why the Red 5 (ASX:RED) share price is surging today appeared first on The Motley Fool Australia.

More reading

• Best ASX value buys for the commodities supercycle
• Why ASX gold share Red 5 (ASX:RED) is on a rollercoaster 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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Cryptocurrencies like Bitcoin (CRYPTO: BTC) are in the news again this morning… and not for the reason cryptocurrency investors might like. Cryptocurrencies have endured a nasty sell-off overnight.

This might be especially disappointing for those who follow the crypto space. Just last week, Bitcoin climbed back over US$40,000 a coin for the first time since mid-May, perhaps giving the illusion that the crypto crash we have witnessed over the past month or two might finally have turned a corner.

But alas for those optimists, that doesn’t seem to be the case as of yet. Since yesterday morning, Bitcoin has slumped from almost US$36,000 a coin to the current price of US$32,254. That’s a slide of more than 10% in just over 24 hours.

It’s not just Bitcoin either. Ethereum (CRYPTO: ETH) was as high as US$2,264 a coin yesterday morning but is going for US$1,938 this morning, down more than 14% in just over 24 hours. Ethereum is the second largest cryptocurrency by market capitalisation, behind Bitcoin. The third largest crypto is Ripple (CRYPTO: XRP). It was almost at 78 US cents yesterday morning. But today, Ripple is down to 62.9 US cents – a drop of close to 20%.

The almighty Dogecoin (CRYPTO: DOGE) has copped some of the worst selling pressure. It’s down more than 34% since yesterday morning and is sitting at 18.8 US cents a Dogecoin.

A one-word summary of the crypto space in the past 24-30 hours? Ouch.

Cryptocurrencies like Bitcoin sell off… But why?

So why is this happening? According to a report in the Australian Financial Review (AFR) today, crypto investors can largely blame China. This report tells us that China has apparently “summoned officials from its biggest banks to a meeting to reiterate a ban on providing cryptocurrency services”.

The AFR reckons that this is ” is the latest sign that China plans to do whatever it takes to close any loopholes left in crypto trading”.

Obviously, increased barriers to entry into the crypto market itself in the world’s second-largest economy is not good news for said crypto markets. It may also be a harbinger of things to come: what if other countries follow China’s lead? Here’s what Jeffrey Kleintop, chief global investment strategist for Charles Schwab & Co, told the AFR:

The fact that there’s a crackdown there perhaps does take away some of its lustre… I’m not sure it’s a signal of a longer-term change in direction, but it can certainly create some volatility. No one is sure the extent of the crackdown and China is an important player in the bitcoin market.

Who knows where Bitcoin will go from here. But one thing seems certain: the trademark volatility of the cryptocurrency space doesn’t look like it’s going anywhere anytime soon.

The post Cryptocurrencies like Bitcoin just tanked again! appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns Bitcoin, Ether and Ripple. 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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