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Aussie billionaire Gerry Harvey, founder and chair of Harvey Norman Holdings Ltd (ASX: HVN), has been on a buying spree in 2023 – snapping up more than $76 million worth of the S&P/ASX 200 Index (ASX: XJO) company’s shares.

And the reason behind the bolstered stake might be a simple one. Harvey apparently believes the Harvey Norman share price is far too low.

Right now, stock in the ASX 200 furniture and electrical retailer – which also has its fingers in the property pie – is trading for $3.715.

Could it still boast as much as a 115% upside? Let’s take a look.

Gerry Harvey snaps up $75 million of his own company’s stock

The Harvey Norman share price has ultimately gone next to nowhere over the last five years, lifting just 8% over that time compared to the broader ASX 200’s 21% gain. Though, the retail stock boasted a peak of around $6 in 2021.

And the company’s boss thinks it can get back there – and beyond, encouraging Australians to sell their houses, cars, and boats and sink the cash into Harvey Norman shares, as per the Australian Financial Review (AFR).

The billionaire reportedly values his company’s stock at between $6 and $8 a pop – a potential upside of 61% to 115% on its current level.

No doubt Harvey hopes it could reach such levels.

He appears to hold around 421 million shares in the company. That’s over 20 million more than he held at the end of last year and nearly 33.8% of the company’s register, according to ASX data.

Indeed, the billionaire has snapped up 1.5 million shares for nearly $5.5 million over the week to Monday.

His current stake is worth approximately $1.5 billion today but could sell for around $3.3 billion if the Harvey Norman share price was to reach $8.

Has the market undervalued Harvey Norman shares?

The Harvey Norman share price tumbled 7% on the back of the company’s half-year earnings, released late last month. The company’s boss reportedly dubbed the sell off a “total overreaction”.

Neglected in the company’s valuation, Harvey told the AFR, is its property portfolio, valued at $3.9 billion according to its earnings report.

However, the entire company’s market capitalisation is just $4.6 billion right now – meaning the market appears to be undervaluing either its property holdings or its retail business.  

Goldman Sachs is bullish on the company on that basis.

It has a buy rating and a $4.70 price target on Harvey Norman shares – representing a 26% upside. It also expects the last half saw the peak of the company’s franchisee support costs.

The post Why has Gerry Harvey bought up $76m of Harvey Norman shares in 2023? appeared first on The Motley Fool Australia.

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More reading

• How I’d invest $20k in ASX 200 shares to earn a second income of $140 a month
• Goldman Sachs says these ASX dividend shares with 7%+ yields are buys
• 8 ASX All Ords shares trading ex-dividend this week
• Buy these ASX 200 dividend shares for a second income: analysts
• $72m and counting: ASX 200 director’s massive share buy-up continues

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 positions in and has recommended Goldman Sachs Group and Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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When it comes to investing in ASX dividend stocks, there is one company that I continue to buy hand-over-fist. It’s not often we find companies that we would be happy to have dominate our portfolio. But if the share market closed tomorrow and I was forced to own just one company for 10 years, it would certainly be Washington H. Soul Pattinson and Co Ltd (ASX: SOL).

Washington Soul Pattinson or Soul Patts as it’s more easily known, is one of the oldest companies in Australia. It first opened its doors in 1903 but has a history that predates Federation.

Soul Patts started out as a chain of pharmacies. But today, it has grown to something quite different. In 2023, this company functions as a collective investment house. It owns large chunks of other ASX shares, as well as a portfolio of unlisted assets, that it manages on behalf of its investors.

So why do I like this company so much?

Why can’t I stop buying this ASX dividend share?

Well, there are a couple of reasons. Firstly, it is inherently diversified. Soul Patts’ other investments represent a broad cross-section of the Australian economy. It owns significant chunks of a handful of other ASX shares. These include Brickworks Limited (ASX: BKW), TPG Telecom Ltd (ASX: TPG) and New Hope Corporation Limited (ASX: NHC).

But it doesn’t stop there. Soul Patts also owns a huge portfolio of blue chip ASX shares as well, thanks to its acquisition of the listed investment company (LIC) Milton Corporation a few years ago.

But, as mentioned earlier, it also has various unlisted assets too. These include swim schools, citrus farms and industrial property. So an investment in Soul Patts is really an investment in this diversified portfolio of quality assets.

12.3% per annum?

But the primary reason I can never own enough shares of this company is its impressive and unrivalled performance history over an extremely long period of time. Soul Patts only reported its latest earnings last week.

These told us that, as of 31 January, the company has delivered a total shareholder return (share price growth plus dividends) of 12.3% per annum over the past 20 years.

Compare that against the All Ordinaries Accumulation Index’s return of 9.3% per annum over the same period, and we can see why this company is a winner. That works out to be a cumulative return of 921% for the 20 years to 31 January, against the All Ords’ 498%.

These returns include Soul Patts’ famous fully-franked dividends. This company is the only ASX dividend stock on the market that has given investors an annual dividend increase every year since 2000.

So given Soul Patts’ inherent diversification, plus its truly outstanding returns over a long period of time, I think this ASX dividend stock is a no-brainer for any investor today. It’s why I keep buying, and don’t plan on stopping.

The post Why I continue buying shares of this magnificent ASX dividend stock hand over fist appeared first on The Motley Fool Australia.

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More reading

• How to make passive income for life with just $5 a day
• Is time running out to buy high-yield ASX dividend shares?
• Why these 3 ASX 200 shares could be leading picks for dividends and growth
• Passive income beasts: 3 ASX dividend shares I’d buy for retirement
• Looking to bag the bolstered Soul Patts dividend? Here’s what you need to know

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Tpg Telecom. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The shares of ASX lithium stock Loyal Lithium Ltd (ASX: LLI) are on ice today.

Loyal Lithium shares have soared 30% in the last week and were last trading at 32 cents apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) has climbed 1.19% in a week.

So what is going on with this ASX lithium stock?

What’s happening?

Loyal Lithium shares are frozen today at the company’s request. The company is exploring lithium in the James Bay District of Quebec and Sarcobatus Flat in Nevada, USA.

The lithium explorer requested voluntary suspension ahead of an announcement. Loyal Lithium said this relates to a “proposed transaction under listing rule 11.1”. It added:

This voluntary suspension will be in place until the Company has complied with the procedures outlined in section 2.10 of ASX Guidance Note 12 in relation to the proposed transaction.

Under listing rule 11.1, a company must provide full details to the ASX as soon as practicable if it plans to make a “significant change”.

Loyal Lithium shares shot up 52% yesterday from 21 cents to 32 cents. However, Loyal Lithium was not the only lithium share to rise.

ASX lithium shares skyrocketed amid news Liontown Resources Ltd (ASX: LTR) had received and rejected a takeover offer from lithium giant Albemarle Corp (NYSE: ALB). Albermarle has a market capitalisation of US$25.6 billion.

Meanwhile, on Monday, Loyal Lithium announced it had identified “multiple high value targets” at the Trieste Lithium Project in James Bay, Canada. Loyal Lithium acquired this project in October 2022.

Commenting on this news, managing director Adam Ritchie said:

The identification of high value targets at the eastern extension of the Trieste greenstone provides us with great confidence prior to our summer field program.

Share price snapshot

The Loyal Lithium share price has risen nearly 21% in the last year. However, in the past month, it has dropped 3%.

This ASX lithium stock has a market cap of about $19 billion based on the current share price.

The post Guess which ASX lithium stock has just been halted amid a ‘proposed transaction’ appeared first on The Motley Fool Australia.

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More reading

• This beaten-up ASX 300 tech share is down 60% in a year, and directors are buying it up
• Own CBA shares? Here’s the ASX 200 bank’s latest small business outlook
• The latest Fortescue dividend is being paid today. Here’s what you need to know
• Is the lithium price now on the way back up?
• Broker says buy Pilbara Minerals shares now for 44% upside

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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The Appen Ltd (ASX: APX) share price is pushing higher on Wednesday.

At the time of writing, the ASX 300 artificial intelligence data services company’s shares are up almost 2% to $2.77.

This is despite the S&P ASX All Technology index dropping into the red today after a poor night for tech stocks on Wall Street.

Why is this ASX 300 tech share rising?

Investors have been buying this ASX 300 tech share on Wednesday after it announced further insider buying.

Insider buying is often seen as a bullish signal. That’s because nobody knows a company better than its management team and board of directors.

So, if they are investing their hard-earned money into the company’s shares, they must have confidence that its shares are worth more than the market’s current valuation of them.

And with the Appen share price down over 60% since this time last year, it seems that they believe this is the case with this ASX 300 share.

Who is buying Appen shares?

Last week, a change of director’s interest notice revealed that non-executive director, Stuart Davis, picked up 49,000 Appen shares through an on-market trade.

Davis paid an average of $2.53 per share, which equates to a total consideration of just under $124,000.

Hot on the heels of this purchase, the company revealed this morning that another director has been buying shares.

According to the notice, Ms Vanessa Liu bought 17,600 shares through an on-market trade on Monday. She paid an average of $2.73 per share, which equates to a total consideration of just over $48,000.

Time will tell if these are profitable investments for the directors. But with this ASX 300 share currently fetching $2.77, they are both in the black already.

The post This beaten-up ASX 300 tech share is down 60% in a year, and directors are buying it up appeared first on The Motley Fool Australia.

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More reading

• Guess which beaten-up ASX 300 tech share is up 16% this month

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 positions in and has recommended Appen. 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 Scott Phillips.

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Commonwealth Bank of Australia (ASX: CBA) shares are down 0.7% during trade on Tuesday.

For some context, the S&P/ASX 200 Financials Index (ASX: XFJ) is down 0.9% at this same time.

Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $96.06. CBA shares are currently changing hands for $95.43 apiece.

That’s the share price action.

Now here’s what’s happening with Australia’s small businesses.

What’s keeping small business owners awake at night?

According to new research, released by CBA this morning, 33% of Australia’s small businesses expect to see consumer demand slide. And the full impact of fast-rising business costs has yet to fully trickle through for many of the surveyed smaller companies.

Declining consumer demand amid high inflation is their top concern, at 36%. Meanwhile, 31% of respondents listed the increasing cost of business insurance as their primary concern, while 28% cited higher transportation and logistics costs.

But CBA reported that many small businesses, both private and ASX small-cap shares, are working to get ahead of the curve before any potential slowdown.

33% of small Aussie businesses have already cut spending on non-essentials. And 32% have adjusted their personal spending. 27% of respondents also said they’re now more disciplined around budgeting and expense tracking.

“While inflation is creating challenges for many small business owners, the sector remains focused on being prepared,” Mike Vacy-Lyle, CBA’s group executive, business banking, said.

“We’re seeing customers respond in pragmatic ways by making adjustments to their operations in response to an anticipated reduction in consumer demand,” he added.

The research showed that small business owners aren’t as worried about the fast-rising cost of living as consumers. But the share of owners expressing concerns has increased since CBA’s last survey in October.

How have CBA shares been tracking?

As you can see in the chart below, CBA shares have followed the benchmark index lower since February, leaving the share price down 6% in 2023.

The post Own CBA shares? Here’s the ASX 200 bank’s latest small business outlook appeared first on The Motley Fool Australia.

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More reading

• Is time running out to buy high-yield ASX dividend shares?
• Stay away from this ASX sector (and buy this one instead): expert
• Own CBA shares? This could be the banking major’s next acquisition
• How much do I need to invest in ASX shares for $100 in weekly passive income?
• Is right now a once-in-a-decade opportunity to buy ASX 200 bank shares?

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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Today is a good day for Fortescue Metals Group Ltd (ASX: FMG) shareholders for a couple of reasons.

The first is that the Fortescue share price is rising 1.5% to $20.89 this morning. That’s despite the market edging lower.

The second is that it is payday for eligible shareholders, with the Fortescue dividend hitting bank accounts today.

The Fortescue dividend

Last month, the iron ore giant released its half-year results. It reported a 3.6% decline in revenue to US$7.84 billion. This reflects softer iron ore prices, which offset the miner’s record-breaking shipments.

It was the same for Fortescue’s earnings, with underlying earnings before interest, tax, depreciation and amortisation (EBITDA) falling 8.7% to US$4.35 billion.

As you might have guessed, this put pressure on the Fortescue interim dividend and led to the miner’s board cutting it by 13% to a fully franked 75 cents per share.

This represented a 65% payout ratio, which is consistent with Fortescue’s dividend policy of paying out 50% to 80% of its profits to shareholders.

And while a dividend cut is always disappointing, it is worth noting that this still equates to an above-average dividend yield of 3.6%. And that’s before the final dividend is even paid!

What’s next?

According to a note out of Bell Potter, its analysts expect an even larger dividend to be paid in the second half.

The broker has pencilled in a fully franked final dividend of 148.8 cents per share, which brings the full-year Fortescue dividend to 223.8 cents per share. This represents a massive full-year yield of 10.7%.

However, it is worth noting that Bell Potter isn’t recommending investors buy its shares. It currently has a sell rating and $14.45 price target on them, which suggests potential downside of 30%.

The post The latest Fortescue dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Fortescue share price lifts on production update
• How I’d invest $20k in ASX 200 shares to earn a second income of $140 a month
• Guess which ASX All Ords stock is lifting on a $55m deal with Fortescue
• Fortescue share price marching higher amid green iron ‘major breakthrough’

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Lithium prices have been tumbling since November 2022, with the carbonate variety used to manufacture electric vehicle (EV) batteries more than halving in value since its peak in November 2022.

The lithium carbonate price has sunk from about US$85,000 per tonne to about US$38,000 per tonne today. This is the lowest price in 15 months, according to Trading Economics data.

This has been caused by an increasing global supply and a recent temporary pullback in Chinese demand.

China is the world’s largest EV manufacturer and the world’s second-largest importer of lithium behind South Korea.

In late 2022, the Chinese government announced the impending end of subsidies for local lithium battery makers and EV manufacturers.

So they went into overdrive before the subsidies ended, creating a large inventory that slowed global demand for both lithium and batteries over the past few months.

But analysts are predicting a resurgence in the lithium price in the second half of 2023.

What’s the outlook on the lithium price?

Citi resources analyst Kate McCutcheon says Chinese battery makers are now restocking supplies and demand is returning.

However, the outlook for the lithium price is varied.

Here’s a sample of broker predictions about where the lithium price will go later in 2023 and into 2024.

• Citi — US$40,000
• Macquarie — US$57,500
• UBS — US$54,750

In the Australian Financial Review (AFR), McCutcheon said:

We don’t think that [lithium] prices go back to the peaks, but we do expect prices to pick up from spot in the back end of this year, and moderate to $US40,000 a tonne for carbonate for next year.

Which ASX 200 lithium shares does Citi like best?

Citi ranks Pilbara Minerals Ltd (ASX: PLS) as its preferred buy-rated ASX lithium share.

McCutcheon said Pilbara Minerals was the “most leveraged” to the lithium price.

… so if I were to track spot prices to equity performance, Pilbara is the one that correlates most strongly, and it’s delivering the highest free cashflow yield across my gold and base metals coverage.

Citi is neutral-rated on Mineral Resources Ltd (ASX: MIN), which produces both lithium and iron ore. She says the company’s earnings are becoming increasingly weighted towards lithium.

Ain’t that the truth. As we reported last month, Mineral Resources’ lithium revenue in 1H FY23 came in at $997.2 million, up from $143 million a year earlier.

Citi rates Core Lithium Ltd (ASX: CXO) shares a sell.

McCutcheon explains:

They have to dewater their flooded open pit, so a likely production gap is a headwind, as are legacy contracts that they signed, one of which has a price ceiling.

ASX 200 lithium shares were on fire yesterday after a US giant made a takeover bid for a small local player.

Matthew Frydman, a senior research analyst at MST Financial, says despite falling lithium prices of late, “the medium-term outlook is still very favourable for Australia’s established [lithium] producers”.

The post Is the lithium price now on the way back up? appeared first on The Motley Fool Australia.

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More reading

• Broker says buy Pilbara Minerals shares now for 44% upside
• Pilbara Minerals share price races higher on ‘important milestone’
• Why the outlook for these ASX 200 lithium shares could be ‘very favourable’
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in Core Lithium and Macquarie Group. 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 positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Pilbara Minerals Ltd (ASX: PLS) share price has declined in the last month, but could it be about to take off?

Pilbara shares have slid 5.7% from $4.17 at market close on 28 February to $3.97 at the time of writing. In late morning trading, Pilbara shares are up more than 3%.

In contrast, the S&P/ASX 200 (ASX: XJO) is 0.16% in the red so far today.

Let’s take a look at the outlook for Pilbara Minerals shares.

Can Pilbara go higher?

RBC Capital markets is tipping the Pilbara Minerals share price could have significant upside.

Analysts have placed an “outperform” rating on Pilbara with a $5.65 price target.

This suggests an upside of 43.8% based on the current share price.

RBC is forecasting strong operational performance and earnings growth for Pilbara in FY23 and FY24, according to a Thomson Reuters report cited by NAB trade.

The broker is predicting Pilbara to more than double lithium carbonate equivalent (LCE) production from 53kt in FY23 to 107kt by FY25.

Pilbara’s share price soared nearly 12% yesterday amid news Liontown Resources Ltd (ASX: LTR) had received and rejected a takeover approach from global lithium giant Albemarle Corp (NYSE: ALB).

Final investment decision

Meanwhile, Pilbara has announced today it has made a final investment decision to lift production capacity at its Pilgangoora Project.

This investment is set to boost spodumene concentrate production from 680,000 tonnes per annum (tpa) to 1,000,000 tpa. This is known as the P1000 project.

Pilbara share price snapshot

Pilbara shares have soared 21% in the past year and 5% year to date.

This ASX lithium share has a market capitalisation of about $11.8 billion based on the current share price.

The post Broker says buy Pilbara Minerals shares now for 44% upside appeared first on The Motley Fool Australia.

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More reading

• Pilbara Minerals share price races higher on ‘important milestone’
• Takeover offer ‘reasonable but not full’: Analyst says Liontown shares are worth more
• Why the outlook for these ASX 200 lithium shares could be ‘very favourable’
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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AGL Energy Limited (ASX: AGL) was among four S&P/ASX 200 Index (ASX: XJO) energy shares warned by leading superfund HESTA to clean up their act or risk facing divestment last year. And the company’s made notable progress on that front.

In a symbolic move, the superfund – housing $68 billion of assets – removed the historic energy retailer from its climate ‘watchlist’ yesterday. HESTA general manager of responsible investment Kim Farrant commented on the change:

We currently believe the approach AGL and its management team have outlined to shareholders more appropriately balances risks, returns, and decarbonisation.

The AGL share price is trading at $7.73 at the time of writing.

Let’s take a look at the green tick that’s been etched into Australia’s highest carbon emitter.

Own AGL shares? The company’s been granted a climate tick

HESTA – a holder of AGL shares – has removed the company from its climate watchlist, reducing its risk of ‘engagement escalation’.

Such escalation could have seen the superfund voting against the company’s advice on resolutions or director elections and could have led it to consider selling its stake.

The mammoth superfund welcomed the progress made on AGL’s climate transition action plan yesterday. It also said it supports the appointment of Damien Nicks as permanent CEO.

The company revealed its $20 billion plan to ditch coal by 2036 last year. Abandoning coal is expected to leave it with net zero emissions.

The action plan followed the abandonment of AGL’s controversial proposal to split into AGL Australia and Accel Energy.

But HESTA isn’t sated yet. Farrant said “more detail is needed” on the company’s energy transition plan, saying:

We continue to believe that there is additional scope for AGL to continue to develop its decarbonisation ambitions in alignment with the 1.5°C pathway including bringing forward coal-fired power generation closure dates through effective strategy execution and growing investment in renewables and storage.

HESTA is still the lead investor through Climate Action 100+ and will continue engaging with AGL on its decarbonisation plans.

AGL and Origin Energy Ltd (ASX: ORG) have both been removed from the superfund’s watchlist, while ASX 200 shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) remain on its climate radar.

The post ‘Risks, returns, and decarbonisation’: AGL shares scrubbed from $68b superfund’s climate watchlist appeared first on The Motley Fool Australia.

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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 Scott Phillips.

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The Jervois Global Ltd (ASX: JRV) share price has been sold off on Wednesday.

In morning trade, the ASX All Ords mining share is down 30% to a 52-week low of 8.1 cents.

Why is this ASX All Ords mining share crashing?

Investors have been hitting the sell button in a panic this morning after the ASX All Ords mining share released an update on its Idaho Cobalt Operations in the United States.

According to the release, the company has suspended the final construction at the Idaho Cobalt Operations due to continuing low cobalt prices and inflationary impacts on construction costs.

Management believes that doing so will preserve the value of its ore body, allowing it to capitalise on better prices in the future.

In respect to pricing, Jervois expects cobalt prices to recover over the medium term. This is due to the clean energy transition and the company’s expectation that Western cobalt purchasers will increasingly prefer to buy from sources with Western ESG credentials.

The company intends to complete the construction and commissioning of Idaho Cobalt Operations once this happens. It has already spent US$130 million on construction activities.

Interestingly, despite suspending construction, Jervois believes it can still receive funds from the US Government in relation to programs that financially support the development of U.S. supply chains of critical minerals.

Management also advised that its US$100 million senior secured bonds remain due in July 2026, with no prior amortisation. However, it remains in compliance with its bond covenants and there is not expected to be an adverse impact on the bonds following the suspension of construction.

Finally, the ASX All Ords mining share has commenced a review of the operation’s carrying value on its balance sheet, in accordance with applicable accounting standards.

The post Why did this ASX All Ords mining share just crash 30%? appeared first on The Motley Fool Australia.

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More reading

• ‘Risks, returns, and decarbonisation’: AGL shares scrubbed from $68b superfund’s climate watchlist
• Santos share price holds tight amid new project heat
• Pilbara Minerals share price races higher on ‘important milestone’
• No savings? Drip-feed $500 a month into ASX shares and aim to retire in comfort
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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