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The APN Property Group Ltd (ASX: APD) share price is climbing higher than a skyscraper today. At the time of writing, shares in the real estate investment manager are selling at 90 cents – a 47.5% increase on the previous day’s close.

The sharp price rise comes after APN announced it has agreed to the DEXUS Property Group (ASX: DXS) offer to buy 100% of the company for 91.5 cents a share. The Dexus share price is currently $10.28 – up 0.29%.

Let’s take a closer look at today’s announcement.

APN share price surges on takeover

In a statement to the ASX, APN Property Group reported it has received, and is recommending shareholders accept, the offer from Dexus for control of the company. According to the statement, all directors are unanimous on this assessment and intend to vote as such. The directors control 33% of the company.

The offer of 91.5 cents represents a:

• 50.0% premium on the previous day’s APN share price.
• 64.3% premium over the 1-month volume-weighted average price.
• 65.8% premium over the 3-month volume-weighted average price.

The takeover bid will be subject to the standard caveats before it can be implemented, namely shareholder approval, no material changes to either company, and court and regulator permission.

Dexus will pay for the shares using its existing cash reserves. Given there are roughly 329.6 million shares outstanding in APN, the total cost of the transaction will be approximately $302 million.

Any break in the deal will incur a $3 million fee from one side to the other.

Management commentary

APN chair Chris Alyward said:

Dexus’ all cash proposal represents compelling value to APN securityholders including a material premium to APN’s trading price. We believe the combination of the two businesses will provide incremental growth opportunities for the APN business as well as its underlying funds, investors and our team members. The APD Directors consider this to be a very attractive offer and unanimously recommend that securityholders vote in favour of the schemes, subject to no superior proposal being made and the independent expert concluding the schemes are in the best interests of APN securityholders.

In a separate statement explaining Dexus’ rationale to its shareholders, Dexus CEO Darren Steinberg said:

This transaction supports our strategic initiative of expanding and diversifying our funds management business, increasing our suite of funds on offer outside of wholesale funds into listed REITs, real estate securities funds and unlisted direct property funds. The transaction also expands our investor network to include retail and high net worth capital.

We believe APN is a high-quality real estate funds management business that complements our existing platform, and we look forward to APN’s executives joining and strengthening the Dexus team while continuing to deliver strong results for investors.

Dexus and APN share price snapshots

Before today’s announcement, the APN share price had appreciated 27.1% over the past year. After today, it’s now 87.5% higher than this time last year. The Dexus share price is 11% higher when compared to 12 months ago.

In the first two months of 2020, just before the COVID-induced market crash, Dexus shares were trading as high as $13.42. It has a market capitalisation of $11.1 billion.

More reading

• What’s happening with the Dexus (ASX:DXS) share price today?
• 7 ASX 200 shares with emission reduction strategies
• Leading brokers name 3 ASX shares to buy today
• 3 ASX shares to buy for the real estate explosion
• This beaten-down ASX sector could soon be turning the corner

Motley Fool contributor Marc Sidarous 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 National Australia Bank Ltd (ASX: NAB) share price is trading lower today despite the release of a positive update.

At the time of writing, the banking giant’s shares are down 0.3% to $27.01.

What did NAB announce?

This morning NAB provided the market with an update on its proposed acquisition of Australian neobank, 86 400.

According to the release, the Federal Court of Australia has made orders approving the scheme of arrangement under which NAB will acquire the remaining share capital in 86 400.

This was the final approval the bank needed for the acquisition, following the prior receipt of approvals from the Treasurer, the Australian Prudential Regulation Authority (APRA), and the Australian Competition and Consumer Commission (ACCC).

In light of this, the scheme is expected to become effective on Wednesday 12 May 2021 and implementation is expected to occur on 19 May 2021.

Why is it acquiring 86 400?

In January, NAB announced its intention to acquire 86 400 to accelerate the growth of its own digital bank, UBank. It believes it can achieve this by combining UBank’s established customer base and name with 86 400’s technology and innovation capability.

UBank’s CEO, Philippa Watson, explained: “Bringing together UBank and 86 400 will help deliver on NAB’s long-term strategy to enhance the customer experience and meet their changing needs. This will create a stronger and more competitive banking alternative for Australian customers.”

“Together we will develop a leading digital bank that attracts and retains customers at scale and pace and creates the next generation of simple, fast and mobile banking solutions,” she added.

This sentiment was echoed by 86 400’s CEO, Robert Bell. He said: “Since day one, our mission has been to help Australians take control of their money. With all of the necessary approvals now received, we’ll soon have the resources to reach many more people with our innovative, easy-to-use and award-winning products and features.”

Despite today’s weakness, the NAB share price is still up 18% year to date.

More reading

• Is the NAB (ASX:NAB) share price great value?
• Commonwealth Bank (ASX:CBA) share price hits record high. Here’s why
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high
• The big four banks and Macquarie offer these juicy dividend yields
• 4 reasons this broker thinks the NAB (ASX:NAB) share price is a buy

Motley Fool contributor James Mickleboro 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 top brokers have been busy adjusting their estimates and recommendations once again. This has led to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Premier Investments Limited (ASX: PMV)

According to a note out of Macquarie, its analysts have retained their outperform rating and $31.00 price target on this retail conglomerate’s shares. The broker has been looking at the UK market and was pleased to see strong retail sales growth following the reopening of the economy. Overall, it believes this demonstrates how Premier Investments is well-placed to benefit from a combination of the global economic reopening and organic growth. The Premier Investments share price is fetching $25.56 today.

REA Group Limited (ASX: REA)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this property listings company’s shares to $179.10. According to the note, the broker was pleased with REA Group’s third quarter update. And while it feels that the Australian property market is losing a bit of steam and buyers are becoming more cautious, it remains very positive on its medium term growth prospects. This is thanks to its sales mix shift and depth products growth. The REA Group share price is fetching $155.89 today.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Ord Minnett have retained their buy rating and lifted their price target on this telco giant’s shares to $4.10. According to the note, the broker is expecting Telstra’s average revenue per user (ARPU) metric to increase in FY 2022 thanks to mobile plan price increases from both it and rival Optus. In addition to this, due to Telstra’s leadership position in 5G, the broker is predicting market share gains in the post-paid market. The Telstra share price is trading at $3.46 today.

More reading

• Telstra (ASX:TLS) ‘on track’ to meet ambitious 5G targets
• Brokers weigh in on the REA (ASX:REA) share price after third quarter results
• Top broker tips REA Group (ASX:REA) share price to rise 20%
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high
• 2 ASX 200 shares to buy for dividends

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A defensive rotation continued overnight with the Nasdaq Composite (NASDAQ: .IXIC) falling 2.55%. This compares to the 1.04% fall from the S&P 500 Index (SP: .INX) and the unscathed Dow Jones Industrial Average Index (DJX: .DJI) which was down just 0.10%. 

The contrasting performance of the tech-heavy Nasdaq could once again put pressure on S&P/ASX 200 Index (ASX: XJO) tech shares on Tuesday. 

Why ASX200 tech shares could face more selling pressure 

It’s been a challenging market for tech investors with the S&P/ASX200 Info Tech (INDEXASX: XIJ) sliding ~9.5% this month, compared to the broader ASX 200 which is up ~2%.

A similar narrative is taking place on Wall Street where the S&P 500 and Dow Jones are hovering all-time record highs, while the tech-heavy Nasdaq has slumped 5.6% in quick succession from record territory. 

Last night, sectors including consumer cyclical, communication services and technology all slumped between 1.95% to 2.30%. While defensive sectors including materials, consumer defensive and utilities closed the session between 0.20% and 0.75% higher. 

US tech mega caps experienced heavy selling across the board with household names including Tesla Inc, Facebook Inc, Apple Inc, Amazon.com Inc, Netflix Inc, Microsoft Corporation and Alphabet Inc all falling between 2% to 6.50%. 

This could see a follow-through for ASX 200 tech shares on Tuesday, placing local tech-heavyweights such as Afterpay Ltd (ASX: APT), Xero Ltd (ASX: XRO) and Wisetech Ltd (ASX: WTC) under pressure. 

Why are tech shares suddenly selling off? 

One theory is that investors might be diverting attention to the prospect of higher inflation as the economy comes out of the coronavirus pandemic.

The pent-up demand could drive an increase in prices, which could eventually prompt central banks to take the brakes off record low interest rates. This could in turn weigh on the valuations of richly valued shares including ASX200 tech shares. 

More reading

• How will the Afterpay (ASX:APT) share price react when US rival delivers trading results overnight?
• 5 things to watch on the ASX 200 on Tuesday
• 3 unstoppable growth trends to invest in today
• Facebook to invest $15 million into regional Australian news media
• Dogecoin price drops by a third after Elon Musk calls it a “hustle” on comedy show

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. 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 recommends Alphabet (C shares), Amazon, Apple, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares in Wisetech, Xero and Afterpay and recommends the following options: long January 2022 $1920 calls on Amazon, short March 2023 $130 calls on Apple, short January 2022 $1940 calls on Amazon, and long March 2023 $120 calls on Apple. The Motley Fool Australia has recommended 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 Pendal Group Ltd (ASX: PDL) share price is backtracking today after providing an update on its equity raise.

At the time of writing, the fund manager’s shares are swapping hands for $7.17, down 2.3%.

What did Pendal announce?

Investors are heading for the hills after Pendal shares come out of a trading halt today.

In this morning’s release, Pendal advised it has completed a fully underwritten institutional placement. The offer received significant interest in which both new and existing institutional investors participated to raise $190 million.

Pendal will issue around 27.9 million ordinary shares under the placement, representing about 8.6% of its entire issued capital. The price for each share is set at $6.80 apiece, reflecting a 5.2% discount to the dividend-adjusted last closing price of $7.17.

The newly created shares will be issued using the company’s existing placement capacity. Under listing rule 7.1, this allows up to 15% of its shares to be issued without shareholder approval. The company noted that the issued shares would not be eligible for the H1 FY21 interim dividend declared yesterday.

The monies raised from the placement will partly fund the acquisition of Thompson, Siegel & Walmsley LLC. Pendal has agreed to take over the investment management firm for a price of US$320 million. This will be paid through a combination of equity, debt and existing capital reserves from Pendal.

Pendal Group CEO Nick Good commented:

The response represents a clear endorsement of Pendal’s strategic acquisition of TSW, a business which is highly complementary to Pendal. The acquisition will accelerate our growth opportunities in the US market and delivers scale and diversification benefits for Pendal across investment capability, asset classes, geographies and distribution channels.

It is expected to deliver significant benefits for Pendal shareholders, strengthening the diversity of earnings and growth in shareholder returns.

Settlement of the placement is planned for this Thursday, with the new shares available for trading the day after.

Pendal share price review

It’s been a mixed year for Pendal shares, moving in circles for most of the 12-month period. Recently, however, the company’s shares reached a 52-week high of $7.80 before treading lower as a likely result of profit-taking.

The Pendal share price is roughly 20% higher since this time last year and is up 12% on year-to-date performance.

More reading

• Why is the Pendal (ASX:PDL) share price frozen today?
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• These were the best performing ASX 200 shares last week
• The Pendal (ASX:PDL) share price lifts on funds update

Motley Fool contributor Aaron Teboneros 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 Arafura Resources Limited (ASX: ARU) are soaring in early trade today after the company unveiled its Nolans Project’s feasibility study.

The Arafura share price is up 11.1% at the time of writing, trading at 20 cents apiece.

Nolans is a neodymium-praseodymium (NdPr) project, located in the Northern Territory. It’s 100% owned by Arafura.

Let’s take a look at the project’s feasibility.

Nolans Project

The Nolans Project will include a mine and processing plant, as well as other related infrastructure. It will mine NdPr and produce NdPr oxide on-site.

The feasibility study found Nolans has a mine life of 38 years and the ability to produce 4,440 tonnes of NdPr oxide each year.

It expects the project’s earnings before interest, tax, depreciation, and amortisation (EBITDA) to be $354 million a year.

According to Arafura, Nolans operating costs could be ultra-low – costing US$24.76 per kilogram of NdPr oxide.

Nolans has been assessed by both the Northern Territory Environment Protection Authority and the Australian Government Department of the Environment and Energy. It’s now the only NdPr-focused project in Australia with environmental permits for mining, beneficiation, extraction, and separation of rare earths.

Arafura expects the feasibility study will be the basis for securing finance, with the company targeting a final investment decision in August 2022.

Front-end engineering and design (FEED) activities are expected to start at the Nolans Project next quarter.

Commentary from management

Arafura managing director Gavin Lockyer commented on the feasibility study, saying:

The size of the Nolans deposit will provide our customers security of supply for their critical raw materials and our ‘ore to oxide’ at a single site provides provenance that their product is being derived from processes aligned with their ESG priorities.

With the forecast demand growth for NdFeB magnets to support the manufacture of electric vehicles amongst other applications, the rising imperative for nations to shore up sustainable supply chains and the lack of alternative NdPr sources outside of China, Arafura is moving ahead with greater confidence than ever before.

Arafura Resources share price snapshot

The Arafura Resources share price has performed well on the ASX lately.

Currently, the Arafura share price is up 38% year to date. It’s also gained 157% over the last 12 months.

The company has a market capitalisation of around $210 million, with approximately 1.1 billion shares outstanding.

More reading

• Why has the Arafura Resources (ASX:ARU) share price dropped 9%?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

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The Woolworths Group Ltd (ASX: WOW) share price is pushing higher again on Tuesday.

In morning trade, the retail conglomerate’s shares are up 1% to $41.00.

What is moving the Woolworths share price today?

This morning the Australian Competition and Consumer Commission (ACCC) provided an update on its thoughts on Woolworths’s proposed acquisition of leading foodservice supplier PFD Food Services.

This followed the receipt of responses from Woolworths and PFD in relation to the ACCC’s statement of issues in December. That statement outlined preliminary competition concerns.

According to the release, Woolworths and PFD have offered a draft behavioural undertaking designed to maintain a degree of separation and independence between the two parties for three years after the acquisition, but the duration could be shorter in certain circumstances.

The ACCC is now seeking views on a proposed undertaking offered by Woolworths and PFD.

ACCC Chair, Rod Sims, said: “The release of an undertaking for public consultation should not be viewed as a sign that we will ultimately accept it, or any other form of undertaking.”

“We are seeking feedback from market participants about whether the proposed behavioural undertaking is likely to address competition concerns raised by Woolworths’ acquisition of PFD.”

What are the temporary measures?

The release explains that Woolworths and PFD have indicated that the temporary measures in the draft undertaking are designed to preserve the current market dynamics and enable market participants, such as independent suppliers, to continue to do business with Woolworths and PFD independently.

They believe that this will allow the market to adjust to Woolworths and PFD ceasing to be independent of each other.

The proposed undertaking would also place obligations on PFD’s board and governance structure and impose confidentiality protocols regarding certain supplier information.  These obligations are intended to last three years, unless certain early termination clauses are triggered.

In addition, PFD would be required to implement a charter in dealing with suppliers which reflects certain principles of the Food and Grocery Code of Conduct. This will need to be in place for five years, with any changes to the charter needing to be approved by the ACCC.

Mr Sims concluded: “The undertaking is behavioural in nature and imposes obligations on the companies to act in certain ways and not undertake certain actions. It will be important to get feedback from market participants on whether the undertaking provides a sufficient remedy to address the competition concerns.”

Judging by the Woolworths share price performance today, investors appear optimistic this development will be enough to get the deal over the line.

More reading

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• ASX 200 up 1.1%: A2 Milk crashes, Crown-Star $12bn merger, Woolworths update
• Centuria Industrial (ASX:CIP) share price falls despite lease extension
• Woolworths (ASX:WOW) share price rises on Endeavour demerger update
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths 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 Pilbara Minerals Ltd (ASX: PLS) share price is dropping on Tuesday morning.

At the time of writing, the lithium miner’s shares are down 3% to $1.26.

Why is the Pilbara Minerals share price lower?

Investors have been selling the company’s shares today despite it announcing a memorandum of understanding (MOU) with multi-award-winning Australian technology company Calix Ltd (ASX: CXL).

According to the release, the MOU covers the development of a joint venture project to develop a midstream lithium chemicals refinery.

The two parties will undertake a scoping study to assess a new refining process incorporating Calix’s unique calcination technology and subsequent production of a concentrated lithium salt midstream product for lithium batteries.

The release explains that Pilbara Minerals currently processes its ore to produce a spodumene concentrate which is then shipped to customers overseas for conversion into lithium carbonate or lithium hydroxide. This is ultimately used for in the production of lithium ion batteries.

However, should this midstream lithium chemicals refinery be developed, it could cornerstone a full battery production supply chain in Australia.

Management notes that the project is in strong alignment with Government strategies to on-shore processing and manufacturing, more sustainable mining and processing, and critical minerals strategies for battery materials.

Furthermore, with spodumene-derived lithium salts from Australian producers potentially hitting 500kT by 2030, and with current lithium carbonate prices well in excess of US$10,000 per tonne, the two companies believe this represents a considerable licensing opportunity for the joint venture and a multi-billion-dollar export value opportunity for Australia.

The scoping study will run until late 2021. If positive, Pilbara Minerals and Calix intend to form a joint venture to build a demonstration facility, starting with a Definitive Feasibility Study (DFS).

Management commentary

Pilbara Minerals’ Managing Director, Ken Brinsden, said: “Firstly, the conventional calcination of fine ore incurs increased losses via dust. Secondly, legacy calcination techniques are very energy and carbon intensive, using fossil fuels in an environment of significant heat losses. And lastly, the lack of uniform temperature control can lead to either incomplete phase change or partial melting of the concentrate impurities, both of which hinder the recovery of lithium in subsequent extraction processes.”

“Calix and Pilbara Minerals have conducted calcination trials of Pilgangoora spodumene in its electrically fired BATMn reactor, at Calix’s Bacchus Marsh facility, and it successfully demonstrated high conversion rates, zero dust emissions and avoided any partial melting concerns. With these promising results, we will now move to a scoping study phase to investigate installing a calciner and downstream demonstration processing plant at Pilgangoora to allow the processing of fine, low grade ore to produce lithium salt material for export overseas.”

More reading

• How the Pilbara (ASX: PLS) share price outshone its lithium peers today
• These could be the next up and coming ASX lithium shares
• Tesla boss: ASX lithium shares set to boom
• Why ASX lithium shares like Orocobre (ASX:ORE) soared in April
• The Core Lithium (ASX:CXO) share price jumped over 11% today

Motley Fool contributor James Mickleboro 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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Telstra Corporation Ltd (ASX: TLS) announced yesterday that it’s “on track” to cover 75% of Australians with its 5G network by June this year. The Telstra share price finished yesterday’s session up by 0.58% to $3.49 per share.

Telstra operates Australia’s largest 5G network and began rolling out 5G home internet coverage at the end of last year. It announced in August 2020 that it aims to cover 75% of Australians by June 2021 and says it’s “well on track” to reach the target.

Telstra’s 5G coverage

Telstra believes it now has enough customers connected to the faster network speeds to attain an accurate picture of how fast its services will be for the average consumer.

The telco says it has improved download speeds across its network by 19% since the beginning of the 5G rollout, and now offers average speeds within peak evening periods of between 50 – 600 megabits per second (Mbps). The average speed is 378 Mbps. 

It’s also planning to double the included download data limits on its 5G home internet plans to one terabyte per month, in response to consumer feedback.

mmWave internet technology

mmWave – pronounced as millimetre wave – is a short-range, high-frequency network technology that offers more bandwidth than standard frequency network connections. Telstra also announced it has recently acquired the “mmWave spectrum we need across Australia to power the next evolution of our 5G network.”

The company said in its update that it would make a significant difference to the internet speeds of its customers.

We have already begun deploying 5G mmWave in selected sites in 5 capital cities and have achieved record-breaking download speeds using this technology in testing earlier this year.

Implementing mmWave on our 5G network will be like adding more lanes to a freeway, making it even faster while allowing more people on the network at the same time.

Telstra share price snapshot

Having fallen to a multi-year low of $2.66 in November last year, the Telstra share price has since rebounded and now sits almost one dollar higher. Telstra shares are currently up by around 17% in 2021 so far and have gained almost 14% over the past year. 

More reading

• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high
• 2 ASX 200 shares to buy for dividends
• This broker thinks you should buy the TPG (ASX:TPG) share price dip
• Telstra (ASX:TLS) and 2 other dividend shares with yields over 6% today
• Blue chip ASX 200 shares breaking out into 52-week highs

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra 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 IGO Ltd (ASX: IGO) share price will be on watch today after the company announced a new joint-venture diamond drilling gold project.

IGO is an exploration and mining company with a portfolio of operating and exploration assets across Australia. It’s partnering with small-cap Australian miner Moho Resources Ltd (ASX: MOH) on its new Crossroads gold drilling prospect.

IGO and Moho ready to go

The companies announced this morning that they’re preparing to undertake diamond drilling at their Crossroads Project joint gold exploration venture, located in the West Australian wheat belt.

In the release, Moho noted that a geochemical review had identified a “broad zone of gold mineralisation” at the Crossroads prospect. The company will start drilling in four separate target holes, with assays expected in the third quarter of 2021.

The initial drilling projects will largely aim to learn more about the site’s geology and lithology. The company aims to determine the orientation of potential gold deposits within the ore in Crossroads to inform further drilling projects. 

The company also noted a “halo” around the surveyed gold mineralisation site of tungsten (W), molybdenum (Mo) and arsenic (As) deposits.

Moho management comments

Moho Managing Director, Shane Sadleir, said the initial surveys are exciting.

The association of a geochemical halo of W – Mo – As anomalism with the recently identified gold mineralisation from RC drilling at the Crossroads prospect is very encouraging. We are looking forward to testing the extension of this mineralisation and the relationship with lithology and structures with the upcoming diamond drilling program.

IGO share price snapshot

The IGO share price is up double-digits in the past month after bullish notes from broker Macquarie on 6 May.

IGO shares have been significant climbers over the past few months, rising by more than $1 per share since the beginning of April. Overall, it’s up 72% over the past 12 months and 23% since 2021 began.

The IGO share price finished yesterday’s trading 2.3% higher at $7.86.

More reading

• Broker sees upside for these ASX 200 mining shares
• Why the Regis Resources (ASX:RRL) share price is in focus
• IGO (ASX:IGO) share price lifts on latest updates
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• ASX 200 flat: Zip raises $400m, Bank of Queensland results, Regis crashes

Motley Fool contributor Lucas Radbourne 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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