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The AVZ Minerals Ltd (ASX: AVZ) share price surged then fell today after the company announced a co-operation agreement with the government of Congo.

Shares in the company were trading 6.25% higher at 17 cents late this afternoon before slipping back to their opening price of 16 cents just at the market close.

Let’s take a look at what mineral explorer announced.

Government agreement

Today, AVZ Minerals announced that the Democratic Republic of Congo (DMC) had approved a draft co-operation agreement with the company.

The company said the document approval would aid the company’s Manono Lithium and Tin Project, adding the draft represented “significant financial opportunity”.

With the new DMC government being sworn in on April 27, the company said the news represented a step in the right direction for the Manono Special Economic Zone (MSEZ). It noted the agreement could lead to tax concessions and import duty relief.

AVZ managing director Nigel Ferguson welcomed the news, saying:

The final co-operation agreement will deliver significant long-term economic benefits for the project, as well as further underpinning our substantial investment in the DRC.

It will also deliver long-term benefits for the people of the Manono region, including access to improved health and education services, stable employment opportunities and upgraded infrastructure including electricity supply.

The company noted that the agreement was still in the draft stage, with the AVZ Minerals team in DRC “working hard” to finalise negotiations. It expects the DRC Government to sign the formal decree “as soon as practicable and hopefully in May 2021”.

About the AVZ Mineral share price

AVZ Minerals is an Australian mineral explorer. The company’s key operation is the Manono project in the Democratic Republic of Congo in Africa.

While the mine is not yet operational, the company continues to focus on progressing it.

The AVZ Mineral share price has had a ripper year so far, gaining 166% over the past 12 months. This exceeds the All Ordinaries Index‘s (ASX: XAO) more modest 33.5% gain.

More reading

• Why the AVZ Minerals (ASX:AVZ) share price is sinking 11% today
• Here’s why the AVZ Minerals (ASX:AVZ) share price is sinking today

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) went up by 1.3% today, ending at 7,173 points.

Here are some of the highlights from the ASX:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price suffered today, it dropped by 13.1% after a trading update.

The infant formula business downgraded its revenue expectations again. A2 Milk said it’s now forecasting FY21 revenue will come between $1.2 billion to $1.25 billion.

A2 Milk said that the China infant nutrition market has been and continues to be challenging for international infant formula producers.

While the third quarter trading was broadly in line with management’s plan, the company said it’s clear that the actions taken to address challenges in the daigou and reseller channel, as well as cross border e-commerce (CBEC), will not result in sufficient improvement in pricing, sales and inventory levels to meet previous guidance based on April sales being well below plan.

The board asked management to do a review of inventory and the conclusion of that is inventory is higher than had been anticipated. The challenges that the company is seeing has been exacerbated by the excess inventory.

A2 Milk is going to take more aggressive actions to address excess inventory, which will impact FY21 revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) and potentially the first quarter of FY22.

The company will also increase marketing investment in the fourth quarter of FY21 and into FY22 to drive consumer demand.

A2 Milk’s leadership recognises that the Chinese market and channel structure is changing rapidly and has therefore commenced a comprehensive process to review its growth strategy and executional plans to respond to this new environment.

Due to these various impacts, the FY21 EBITDA margin is now expected to be in the order of 11% to 12%, excluding acquisition transaction costs.

The A2 Milk board is considering a potential share buy-back. Despite that, it was one of the worst performers in the ASX 200.

Crown Resorts Ltd (ASX: CWN)

The Crown Resorts share price went up 7.25% after announcing two takeover bids.

Firstly, Crown announced that Blackstone Group had increased its bid for the casino business by $0.50 per share from $11.85 to $12.35 per share. Other than the increase in the indicative offer price, the key terms of the revised offer are consistent with that has been previously announced.

Crown has also received a merger proposal from Star Entertainment Group Ltd (ASX: SGR). The proposal is that Star will exchange each Crown share for 2.68 Star shares. The merger proposal also contemplates a cash alternative of $12.50 per Crown share, subject to a cap of 25% of Crown’s total shares on issue, with any scale back to occur on a pro rata basis.

If the cash alternative is fully taken up, it would result in pro forma ownership of the merged entity of 59% of Crown shareholders and 41% of Star shareholders.

Star stated that it has estimated a merger with Crown would result in indicative cost synergies of between $150 million to $200 million per annum. There is also the potential to unlock “significant value” from a sale and leaseback of the merged entity’s property portfolio.

The Crown board has not yet formed a view about either of these proposals.

The Star share price also grew by 7.7% today. It was one of the best performers in the ASX 200.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price went up 2.75% after announcing it’s going to demerge its Endeavour Group business, which includes Dan Murphy’s, BWS and ALH.

Woolworths shareholders will receive one new Endeavour Group share for each Woolworths share they own.

The supermarket business will retain a 14.6% interest in Endeavour Group after the demerger. Bruce Mathieson Group, the joint venture partner, will also retain 14.6%.

Subject to board approval and trading conditions, $1.6 billion to $2 billion could be returned to shareholders.

Woolworths Chair Gordon Cairns said:

The Woolworths Group Board believes that a demerger of Endeavour Group will enhance shareholder value and it will create two leading ASX-listed companies. We believe both businesses, post demerger, have strong future prospects and will benefit from greater simplicity, focus and ongoing partnership.

More reading

• Why a2 Milk, American Pacific Borate, Appen, & Incitec Pivot are tumbling lower
• Why Crown, Fortescue, Nearmap, & Tyro shares are charging higher
• 2 ASX 200 COVID-19 shares to buy
• Why the A2 Milk (ASX:A2M) share price is crashing 15% lower today
• ASX 200 up 1.1%: A2 Milk crashes, Crown-Star $12bn merger, Woolworths update

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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 Hub24 Ltd (ASX: HUB) share price was trading in the red this afternoon despite the company announcing an update on its strategic alliance with Clearview Wealth Ltd (ASX: CVW).

At the close of trade, the investment platform provider’s shares were down 2.48%, trading at $23.18.

What did Hub24 announce?

In its release, Hub24 advised it has completed the wrap platform development and bulk transition from Clearview. This transfer entails the administration services of $1.4 billion funds under administration (FUA) to Hub24. The strategic wrap platform consists of ClearView’s WealthSolutions Super, LifeSolutions Super, and WealthSolutions investor directed portfolio service (IDPS).

Hub24 said that both parties developed a private label IDPS and Super wrap solution to provide investment continuity and minimise customer disruption. As a result, most of the FUA has moved across to the private label from Clearview’s administrator. Both advisors and customers can now access the new product through the Hub24 platform.

Last year, Clearview’s WealthSolutions2 white label for IDPS and Super was launched onto Hub24’s network. Since then, 14 managed portfolios have been made available to advisors using the Hub24 retail offer.

Words from the management

Hub24 managing director Andrew Alcock said:

HUB24’s capability to seamlessly deliver large scale transitions has once again been proven. The teams across HUB24 and ClearView have been working together to achieve this for ClearView’s customers following the launch of the white label last year. We look forward to continuing to work with ClearView on product development initiatives going forward.

ClearView managing director Simon Swanson went on to add:

ClearView is in the middle of a multi-year transformation program to ensure that we remain easy to do business with and continue to deliver high quality, fit-for-purpose life insurance, wealth management and financial advice solutions. We look forward to continuing our relationship with HUB24.

About the Hub24 share price

The Hub24 share price has accelerated over the last 12 months, delivering gains of more than 120%. Hub24 shares fell to a 52-week low of $9.01 during late June before moving on an upwards trajectory. The company reached an all-time high of $27.80 this year and is within striking distance of breaking that new record again.

Based on the current Hub24 share price, the company commands a market capitalisation of around $1.5 billion.

More reading

• Why Adore Beauty, Appen, HUB24, & News Corp shares are charging higher
• Which ASX 200 shares were the best performers this week?
• Hub24 (ASX:HUB) share price slides despite record growth
• Why brokers think these 3 top performing ASX 200 shares can beat the market
• 2 ASX tech shares rated as buys by brokers

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The Pilbara Minerals Ltd (ASX: PLS) share price spearheaded the lithium cohort today and was up 10.5% at $1.31 by the end of trading. 

The Pilbara share price achieved most of its gains in the first hour of trade but released a positive drilling results announcement before the market close to further extend its bullish day. 

Pilbara share price flies on “exceptional” drill results 

In today’s release, Pilbara reported significant initial assay results from exploration and resource extension drilling programs at its Pilgangoora Lithium-Tantalum project in Western Australia. 

The programs are currently targeting the previously under-explored region adjacent to its recently acquired Altura Lithium Operations tenement boundary.

Currently, 7,009 drill metres have been completed in the proposed 9,500 metre program. Select assay results received from its first nine holes in the program include: 

15m @ 2.35% Li2O and 100ppm Ta2O5 from 142m (PLS1315)
22m @ 1.27% Li2O and 87ppm Ta2O5 from 125m (PLS1316)
18m @ 2.01% Li2O and 75ppm Ta2O5 from 168m (PLS1319)
18m @ 1.81% Li2O and 80ppm Ta2O5 from 150m (PLS1320)
20m @ 1.55% Li2O and 89ppm Ta2O5 from 174m (PLS1321)

Pilbara notes it will incorporate the results from this drilling program into its updated combined Pilgangoora Project Mineral Resource, which is scheduled for release in the September quarter. 

Management commentary 

Commenting on the results, Pilbara Minerals CEO Ken Brinsden said: 

The area adjacent to the old Altura tenement boundary has always offered significant exploration potential and was considered one of the benefits for Pilbara Minerals undertaking the Altura asset acquisition.

These results from the current program confirm the potential endowment of this area and we intend to work hard on this area in the coming months to add further value to the integrated operations.

Brinsden said as one of the world’s great lithium resources, the Pilgangoora Project would play “an important part in raw materials supply across the globe, including value-added products, as the global decarbonisation push and electrification drive gather significant momentum”.

A strong day for ASX lithium shares 

ASX lithium shares appear to be taking charge despite no catalyst from the likes of Tesla Inc (NASDAQ: TSLA) or renewables ETFs such as the Global X Lithium & Battery Tech ETF.

The Galaxy Resources Ltd (ASX: GXY) closed today up 2.98% at $4.15 at a 2-year high. While the Orocobre Ltd (ASX: ORE) share price has also surpassed a 2-year high, up 3.45% to $7.20. 

The Pilbara share price is currently leading the pack but is still 5% off its 22 January 2021 high of $1.385. 

More reading

• These could be the next up and coming ASX lithium shares
• Tesla boss: ASX lithium shares set to boom
• Why the Galaxy (ASX:GXY) share price rocketed 55% higher in April
• 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 Kerry Sun 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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If you’re a fan of growth shares, then you might want to take a look at the ones listed below.

Here’s why these quality ASX growth shares have been tipped as ones to buy right now:

Altium Limited (ASX: ALU)

This electronic design software provider could be a growth share to look closely at. As well as being the company behind the Altium Designer and Altium 365 platforms, it also has the Octopart electronic parts search engine business and the NEXUS design collaboration platform supporting the core business.

All these businesses have exposure to the growing internet of things and artificial intelligence markets. And as these markets are underpinning an explosion in electronic devices globally, demand for Altium’s offering looks likely to increase materially in the future. Especially given how its platforms are widely regarded as the best in the industry by some distance.

One broker that is positive on the company’s future is Citi. Late last month the broker put a buy rating and $33.50 price target on Altium’s shares. It suspects that the company is nearing the end of its COVID-19 related downgrade cycle and remains positive on the long term.

Pushpay Holdings Group Ltd (ASX: PPH)

Another ASX growth share to look at is Pushpay. It is a leading donor management and community engagement platform with a focus on the faith sector.

It has been growing strongly in recent years but still has an enormous runway for growth. For example, management has set itself a target of winning 50% of the medium to large US church market in the future. This represents US$1 billion in revenue, which is almost 8 times greater than FY 2020’s revenue.

Pleasingly, it looks well-positioned to achieve this thanks to its industry-leading platform. This platform was also bolstered by the acquisition of US$87.5 million church management system provider Church Community Builder last year.

This has led to the launch of ChurchStaq, which is the amalgamation of its Pushpay and Church Community Builder software. It brings together digital giving, donor development, church apps, and church management software (ChMS) to deliver a fully integrated engagement platform.

Goldman Sachs is positive on Pushpay and believes it is well-placed for long term growth. The broker has a buy rating and ~$2.59 price target on its shares.

More reading

• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high
• Got money to invest? Here are 2 ASX shares to buy
• These were the worst performing ASX 200 shares last week
• Are there buying opportunities among ASX COVID fallen stars?
• 3 ASX shares to buy in May 2021

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 PUSHPAY FPO NZX. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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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It certainly was a great start to the week for the Australian share market. The S&P/ASX 200 Index (ASX: XJO) has just closed the day with a gain of 1.3% to 7,172.8 points.

Doing some of the heavy lifting today were the banks. They all pushed notably higher, except for the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price.

Its shares actually ended the day with a 1.3% decline to $27.38. This compares to gains of 1.1% to 1.3% for the rest of the big four.

Why was the ANZ share price underperforming today?

The good news is that the ANZ share price wasn’t out of form on Monday due to anything operational or broker related.

The decline in the bank’s shares was entirely attributable to them trading ex-dividend this morning for its upcoming interim dividend.

In fact, if you were to remove the dividend from the equation, the ANZ share price would have recorded a gain of over 1% today.

The ANZ dividend

Last week when ANZ released its half year results, the bank declared a fully franked interim dividend of 70 cents per share.

Based on its last close price, this dividend represents a yield of 2.5%.

Eligible shareholders, those that owned shares prior to the market open today, can now look forward to being paid this dividend in around seven weeks on 1 July.

Is the ANZ share price in the buy zone?

While it is now too late to get hold of its interim dividend, it may not be too late for potential share price returns.

According to a note out of Morgans from last week, its analysts currently have an add rating and $34.50 price target on the bank’s shares.

Based on the current ANZ share price, this price target implies potential upside of 26% over the next 12 months.

Given the potential return on offer, it will come as no surprise to learn that ANZ is the broker’s top pick in the sector right now.

More reading

• The ALS (ASX:ALQ) share price is flying on news of debt refinancing
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high
• 2 highly rated ASX dividend shares with generous fully franked yields
• The big four banks and Macquarie offer these juicy dividend yields
• 2 blue chip ASX dividend shares given buy ratings

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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The Commonwealth Bank of Australia (ASX: CBA) is looking to “build Australia’s future economy” through its new joint venture with data science firm Quantium.

The joint venture will see data procured from Australia’s top retail bank to deliver data-driven insights to Australian businesses, governments and investors.

The partnership is the second the banking giant has announced today. The announcement of its joint venture with Quantium followed news its partnered with e-commerce operator Bigcommerce Holdings IncB.

At the time of writing, the Commonwealth share price has sunk from its intraday high of $95.18 – which was yet another 52-week high. Shares in the bank are currently swapping hands for $94.85, representing a 0.99% gain from its previous closing price.

Let’s take a look at Commonwealth Bank’s newest joint venture.

Commonwealth Bank X Quantium

Commonwealth Bank and Quantium have teamed up to create CommBank iQ.

CommBank iQ will use data pooled from the Commonwealth Bank’s retail transactions and Quantium’s data science capabilities to deliver insights to Australian businesses, policymakers, and investors. The bank says this will help “shape and drive the country’s future economy”.

The Australian Financial Review (AFR) reported Quantium ditched its long-term agreement with Australia National Bank Ltd (ASX: NAB) in favour of its joint venture with CBA.

According to the AFR, Quantium approached the Commonwealth Bank, hoping it could access CBA’s unmatched data pool of Australian retail transactions.

According to the bank, CommBank iQ will offer various solutions, including insights reports, decision support tools, and AI decision engines that will use data to automate decision-making. This will likely prove useful to institutions looking to act on customer insights.

Both CBA and Quantium will contribute team members to the joint venture. Quantium will also contribute its big data tech stack.

CommBank iQ will use best practice data ethics and governance standards. All data handled by the joint venture will be aggregated and de-identified.

CommBank iQ will begin trading in the second half of 2021.

Commentary from management

The Commonwealth Bank’s group executive of institutional banking and markets, Andrew Hinchliff, commented on the joint venture. Hinchliff said CommBank iQ would help Australia’s leading institutions steer the nation’s economic recovery and transition.

As Australia’s biggest bank, we see more transactions than any other institution in the country…

CommBank iQ will help Australian institutions become more customer centric and better able to quickly identify and respond to both complex problems and significant growth opportunities.

Quantium’s CEO Adam Driussi said:

Commbank iQ’s experienced consultants will also offer the commercial skills and sector experience to identify and unlock hidden value for a wide range of institutions. It’s a truly exceptional solution that promises to solve challenging problems and create better products and services for Australians.

More reading

• 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
• How the Commonwealth Bank (ASX:CBA) share price moved this week
• Australia’s trust in big banks up 19% in just 2 years: report

Motley Fool contributor Brooke Cooper 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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It was another disappointing day for the Adore Beauty Group Ltd (ASX: ABY) share price on Monday.

At one stage, the online beauty retailer’s shares were down as much as 9% to a record low of $3.34.

When the Adore Beauty share price hit that level, it meant it was down a disappointing 50% from its October IPO listing price of $6.75.

Why is the Adore Beauty share price under pressure?

As well as being caught up in an ecommerce selloff along with the likes of Kogan.com Ltd (ASX: KGN) and Redbubble Ltd (ASX: RBL), a disappointing trading update last week has weighed heavily on the Adore Beauty share price.

That update revealed that Adore Beauty achieved revenue of $39.4 million. While this was a 47% increase on the prior corresponding period, it is a 22% decline on the average quarterly revenue it achieved during the first half.

In addition to this, management’s decision to change the goal posts when reporting its active customers has confused investors.

Instead of reporting active customers on a 12-month basis as normal, it elected to report them on a 9-month basis.

Management revealed that active customer reached 687,000 at the end of March on a 9-month basis. This was up 69% on the prior corresponding 9-month period.

However, it was a decline on the 12-month active customers it reported at the end of December of 777,000. 

No explanation was given for the change in reporting. Nor did management advise whether its numbers are growing or declining on a 12-month rolling basis. In light of this, investors may be concerned that the company is cherry picking metrics.

What else is weighing on sentiment?

The response to its update from brokers also appears to be weighing on the Adore Beauty share price.

For example, Shaw and Partners cut its price target by 28% to $6.00 and Morgan Stanley slashed its price target by 43% to $5.00. UBS was a little more forgiving, cutting its price target by 9.7% to $5.60. 

It is, however, worth noting that they all have the equivalent of buy ratings on its shares. So all is not clearly lost.

And while Morgan Stanley has warned that the next couple of quarters could be challenging, it remains positive. Due to its leadership position in a structural growth market, the broker believes it is worth sticking with the company.

It is expecting Adore Beauty to post a decline in revenue in the first half of FY 2022, before returning to growth in the second half.

More reading

• Are there buying opportunities among ASX COVID fallen stars?
• Why Adore Beauty, Appen, HUB24, & News Corp shares are charging higher
• Brokers name 3 ASX shares to buy now
• Why the Adore Beauty (ASX:ABY) share price is rebounding 7% today
• Why Adore Beauty, Appen, Flight Centre, & Nearmap shares are sinking

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Adore Beauty Group Limited. 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 has been a solid performer on Monday.

In afternoon trade, the banking giant’s shares are up 1% to $27.06.

This latest gain means the NAB share price is now up 18% since the start of the year.

Can the NAB share price go even higher?

One leading broker that believes the NAB share price can still go higher from here is Morgans.

According to a recent note, the broker has retained its add rating and $29.00 price target on the bank’s shares.

Based on the current NAB share price, this implies potential upside of 7.2% excluding dividends.

And if you include the $1.29 per share fully franked dividend the broker is expecting this year, this potential return stretches to approximately 12%.

Why is Morgans positive on NAB?

The broker has named a few reasons why it is bullish on the NAB share price.

One of those is that it still believes its provisioning looks conservative, even after its net release.

It commented: “The 1H21 credit impairment benefit of $128m is less than our forecast of $517m. NAB’s collective provision (CP) coverage of credit risk weighted assets (CRWA) was 155bps at Dec-2020 and we were expecting this to be reduced to 140bps at Mar-2020. However, NAB has only reduced this coverage to 150bps at Mar-2020, which we believe to be a very conservative coverage ratio given the improvement in the economic outlook.”

“While there was an ‘underlying’ net provision release of $114m and a release of Economic Adjustment (EA) of $235m, NAB topped up its forward-looking adjustments (FLAs) by $221m primarily for aviation and high-risk mortgage exposures. We now forecast NAB’s CP coverage to be reduced to 140bps in 2H21F,” it explained.

Another reason to be positive is the increasing potential for capital management.

Morgans notes that NAB’s CET1 ratio of 12.4% is better than it was expecting. It also points out that it compares very favourably with APRA’s ‘unquestionably strong’ benchmark of 10.5%.

In light of this and management’s target CET1 range of 10.75% to 11.25%, it believes NAB will be looking to conduct capital management in the form of share buybacks.

The broker is forecasting surplus CET1 capital of $9.1 billion at the end of FY 2022, equating to $2.75 per share.

All in all, it appears to believe that this and the improving outlook for the sector makes the NAB share price good value at the current level.

More reading

• 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
• IOOF (ASX:IFL) share price higher on transformational acquisition update

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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The Investigator Resources Ltd (ASX: IVR) share price is surging today after the company confirmed regional silver potential in Paris (South Australia).

Investigator shares are up 9% at the time of writing, trading at 9.6 cents per share, further boosting their high 688% yearly return. 

Investigator Resources is a mineral exploration company focusing on copper, gold, silver and nickel exploration. Its operations include Paris silver, Peterlumbo, Maslins IOCG and Eyre Peninsula projects.

Investigator’s Paris of the South

Today’s update focuses on Investigator’s 100% owned Peterlumbo tenement, which hosts the Paris Silver Project in South Australia. This is home to several drilling targets that were subject to a major drilling operation throughout 2020 and has recently returned assays.

The strongest silver intersections were at the company’s Argos, Ares and Paris Dyke targets. The miner found the highest grade at Argos, which returned three metres at 10g/t of silver from 56 metres deep and two metres at 13g/t of silver from 69 metres deep.

Additional results included 25 metres at 0.33% lead and 0.3% zinc from 53 metres deep.

These are the latest in a line of silver mining results that have sent the Investigator share price climbing.

According to the miner, its Paris project is more than just a pretty name. It’s the “highest grade undeveloped silver project in Australia”.

A “shallow, high-grade silver deposit amenable to open-pit mining”, Paris hosts an Australasian 2012 resource estimate of 9.3 metres at 139g/t silver and 0.6% lead for 42 million ounces of contained silver and 55 kilotonnes of contained lead. 

The company says an updated resource estimate is due to be finalised within weeks. Metallurgical test work currently targets opportunities to “maximise recoveries”, with a pre-feasibility study due in June this year.

What did management say?

Investigator managing director Andrew McIlwain said the results demanded further study:

With more recent work naturally focussed on the growth and advancement of the Paris Silver Project’s resource, little work had been undertaken following up known regional opportunities. When capital was raised in August 2020, a commitment was made to pursue the thesis that similar mineralisation could feasibly exist within close proximity to Paris.

We are encouraged by the results, particularly at Ares and Argos, where we are looking for a Paris repeat along trend from Paris. Identification of silver mineralisation in this wide spaced reconnaissance drill program supports our optimism that the region may hosts other further silver deposits and we will embark on further drilling at Argos, Ares and Helen, as well as at Paris Dyke – which delivered encouraging results close to the existing Paris silver resource – in the next few months.

Investigator share price snapshot

The Investigator share price has made impressive yearly returns, led by constant high-grade silver results from its Paris mine. Trading at one cent in June last year, the gains have been consistent, with few significant drops in between.

Still, the Investigator share price has a long way to climb to reach its decade high of 33 cents, set all the way back in 2012.

More reading

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Motley Fool contributor Lucas Radbourne-Pugh 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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