Tag: Motley Fool

The S&P/ASX 200 Index (ASX: XJO) has failed to follow the lead of US markets and is dropping lower on Wednesday. In late morning trade the benchmark index is down 0.1% to 6,673.6 points.

Four shares that have not let that hold them back are listed below. Here’s why they are storming higher:

Oil Search Ltd (ASX: OSH)

The Oil Search share price is up 4% to $4.35. Investors have been buying the energy producer’s shares after a solid rise in oil prices overnight. It isn’t just the Oil Search share price on the up today. At the time of writing, the S&P/ASX 200 Energy index is up a sizeable 3.2%.

Praemium Ltd (ASX: PPS)

The Praemium share price has surged 11.5% higher to 68 cents following the release of its second quarter update. During the quarter, the investment platform provider achieved record platform inflows of $1.1 billion. This was up 128% compared to last year’s December quarter inflows. This means Praemium’s global funds under administration increased 10% during the quarter to $34.3 billion.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price has jumped 15.5% to $25.99. Investors have been buying the retail conglomerate’s shares after it released its guidance for the first half of FY 2021. For the 27 weeks ending 30 January, the company revealed that expects its Retail segment to achieve earnings before interest and tax (EBIT) of between $221 million to $233 million. This will be up between 75% and 85% on the 26 weeks ended 25 January 2020.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price has stormed 11.5% higher to $5.74. This follows the release of a very strong trading update from the fashion retailer this morning. According to the release, Universal Store expects its underlying EBIT to be in a range of $30 million to $31 million for the half. This represents growth of between 61% and 67% on the prior corresponding period. This was driven by strong like for like sales growth and gross margin improvements.

More reading

• Here’s why the Premier (ASX:PMV) share price just hit an all-time high
• Here’s why the Universal Store (ASX:UNI) share price is surging 10% higher
• With energy prices roaring back will these ASX energy shares keep booming?
• Leading brokers name 3 ASX shares to buy today
• These were the best performing ASX 200 shares last week

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 Praemium Limited. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended Praemium Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Oil Search, Praemium, Premier Investments, & Universal Store are storming higher appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3oExZOP

Well, 2020 was yet another rollercoaster ride for the Mesoblast Limited (ASX: MSB) share price, as good and bad news pushed and pulled on the company’s shares. 

The latest piece of disappointing news from Mesoblast was on its remestemcel-L product. This is used for ventilator dependent patients with moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19 infection. 

The Mesoblast share price spiralled 45% lower when the trial was reported to be unlikely to meet the 30-day mortality reduction endpoint at the planned 300 patient enrolment. 

Despite the trial shortcomings, Bell Potter maintained a speculative buy recommendation on Mesoblast shares on 23 December 2020. The broker updated its Mesoblast share price target to reflect the trial, lowering the price target from $7.40 to $5.10. This is almost twice today’s price of $2.61, at the time of writing. 

COVID-19 ARDS trial 

Bell Potter believes that remestemcel-L is unlikely to be approved for COVID-19 ARDS treatment on the basis of this trial. The broker thinks that at best, they may get a path forward to identify the correct patient population and clinically meaningful endpoint for a confirmatory trial. 

While Mesoblast has stated that it remains committed to developing remestemcel-L for both COVID-19 ARDS and non-COVID-ARDS, Bell Potter thinks otherwise.

Its report said that “it may be best now for the company and its partner Novartis to focus their efforts on non-COVID-ARDS if they do get any clinically meaningful signals from this trial, as they are likely to have more control over the trial”. Combined with the evolving treatment landscape for COVID-19 with new vaccines, antibodies and other experimental treatments, the broker decided to remove COVID-19 ARDS from its modelling for remestemcel-L. 

Chronic Heart Failure (CHF) trials 

On Monday, Mesoblast announced that it had treated 537 patients with chronic heart failure with its rexlemestrocel-L product. The trial found that one single does provides a substantial and durable reduction in heart attacks, strokes and cardiac death in patients with CHF. Results show that the incident of hearth attacks and strokes were reduced by 60 per cent over a follow-up period of 30 months. Based on the observed reduction in morality and morbidity in this trial, Mesoblast intends to meet with the FDA to discuss a potential approval pathway. 

The results coincide with Bell Potter’s view that its CHF therapy may not reduce the number of heart failure related hospitalisations but significantly reduces the risk of a patient dying from cardiac causes. The broker observes that Mesoblast’s therapy seems to work best when treated at an earlier stage in Class II patients vs. the more severe Class III patients. 

The report believes that path forward is “focusing on Class II CHF patients, with reduction in morality as a primary endpoint”. However, it is likely that Mesoblast will be required to do a confirmatory Phase 3 trial focused on class II patients with mortality as a primary endpoint. 

Revised Mesoblast share price target with next catalyst 

Bell Potter’s revised model led to a large decrease in NPAT forecasts for FY21 and FY23 and a large increase in net loss forecast for FY22. This was driven by lower revenue due to the removal of COVID-19 ARDS. 

The broker sees the next catalyst for the Mesoblast share price is its results from Phase 3 trial for chronic discogenic lower back pain (CLBP). These results were expected in December 2020.

More reading

• ASX 200 up 0.4%: Altium disappoints, ARB impresses, Mesoblast charges higher
• Why ARB, Mesoblast, Pushpay, & Super Retail shares are racing higher
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 drops 0.9%
• Mesoblast (ASX:MSB) share price soars 14% on clinical trial results

Motley Fool contributor Lina Lim 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.

The post Bell Potter thinks the Mesoblast (ASX:MSB) share price can run higher  appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2XxIRBR

The Premier Investments Limited (ASX: PMV) share price is on the run this morning. This comes after the company released a positive trading update for the first half of FY21.

At market open, the retail conglomerate’s shares shot up 17% to an all-time high of $26.32. At the time of writing, the Premier share price is trading up 15.9% at $26.06

What did Premier announce?

With 3 weeks remaining until the end of the term, Premier advised it has continued its sales growth trajectory throughout the first half of FY21.

For the period ending 9 January, Premier revealed it has achieved total global sales of $716.9 million. This represents an increase of 5% on the same time last year, pushed by the rapid acceleration of online sales. The latter accounted for $146.2 million, reflecting a 60% jump over the prior corresponding period.

Total global like for like (LFL) sales also lifted 18%, with its Australia business reporting an increase of 26.2%.

In addition, the company highlighted its strong cost management, negotiating with key landlords on rent reductions due to the COVID-19 environment. Premier went on to discuss that at different times including up until today, several of its locations worldwide have been temporarily closed, affecting staff and loss of potential sales.

However, despite the trading restrictions and provided no significant impacts occur in the final weeks, the company is projecting earnings before interest and tax (EBIT) to swell. Current estimates put EBIT over the entire 27-week period to come in the range of $221 million to $233 million. This is an increase of between 75% and 85% on prior’s H1 FY20 performance.

Overall, Premier said gross profit was tracking well ahead of last year’s result over the same timeframe. It further reiterated that it maintains a healthy balance sheet and will release its H1 FY21 results in late March.

About the Premier share price

The Premier share price has surged from last year’s March lows of $8.13. Reaching an all-time high today, this represents a gain of 223%.

At current, Premier has a market capitalisation of $4.1 billion and a price-to-earnings (P/E) ratio of 30.

More reading

• Here’s why the Universal Store (ASX:UNI) share price is surging 10% higher
• ASX 200 drops 1.1%
• Why a2 Milk, AVZ Minerals, Nanosonics, & Premier Investments are dropping lower
• Investors caught in crossfire as ASX retailers battle ASX property stocks in 2021
• Forecast double-digit surge in Aussie dollar could put brakes on ASX rally in 2021

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Premier (ASX:PMV) share price just hit an all-time high appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/39GBez1

The Altium Limited (ASX: ALU) share price came under pressure on Tuesday following the release of a trading update.

The electronic design software company’s shares fell as much as 5% before recovering to end the day 2% lower at $30.13.

What did Altium announce?

Altium’s update revealed that trading conditions were tough during the six months ending 31 December.

In light of this, the company is expecting to report a 3% decline in first half revenue to US $89.6 million.

Management explained that this decline was “due to extreme COVID conditions in the US and Europe and challenging economic conditions, post COVID in China, for licence compliance activities.”

Positively, the company witnessed an improvement in trading conditions during the second quarter, which has given management confidence that the second half will be much stronger.

Altium’s CEO, Aram Mirkazemi, commented: “I am confident that with our pivot to the cloud and our move to digital sales that the Q2 momentum will continue into the second half.”

In light of this, the company has maintained its guidance for FY 2021.

Is this a buying opportunity?

According to analysts at Credit Suisse, this could be an opportune time to pick up Altium shares.

This morning the broker retained its outperform rating but with a revised price target of $35.00. While it was disappointed with its update, it notes that management has stated that its second half deal pipeline is significant.

Credit Suisse’s price target implies potential upside of 16% over the next 12 months.

Elsewhere, analysts at Goldman Sachs have retained their neutral rating. However, it is worth noting that their price target of $36.35 offers upside of 20% from yesterday’s close price.

That’s better than some of the potential returns on offer with shares that the broker has buy ratings on at present.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 drops lower
• Objective (ASX:OCL) share price continues its rise in 2021 after doubling last year
• ASX 200 up 0.4%: Altium disappoints, ARB impresses, Mesoblast charges higher
• Why Altium, Clover, PolyNovo, & Tyro shares are dropping lower

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. 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.

The post Is the Altium (ASX: ALU) share price in the buy zone after its update? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2K7TFUf

The Core Lithium Ltd (ASX: CXO) share price has been a very strong performer on Wednesday morning.

In early trade the emerging lithium miner’s shares jumped as much as 19% higher to 25 cents.

The Core Lithium share price has since dropped back a touch but is still up 9% to 23 cents at the time of writing.

This latest gain means its shares are now up an incredible 360% over the last couple of months.

Why is the Core Lithium share price jumping higher?

Investors have been buying the company’s shares this morning following the release of a positive announcement.

According to the release, Core Lithium has been granted a mineral lease for the high-grade BP33 Lithium Deposit. This is a key component of the company’s 100%-owned Finniss Lithium Project located near Darwin in the Northern Territory.

Management notes the 25-year lease for BP33 follows the receipt of the first ever mineral lease that the Northern Territory Government had awarded for a lithium project. That was for Core Lithium’s Grants Deposit, which is another key component of the Finniss Lithium Project.

Core Lithium’s Managing Director, Stephen Biggins, believes this approval is both well-timed and a significant milestone in the company’s history.

He commented: “This additional mining lease approval from the Northern Territory Government is well timed as Core continues to advance the Finniss Lithium Project towards commencing construction and as we aim to further expand resources, life of mine and production capacity in 2021.”

“It is a further encouragement that the NT Government understands the important role that Finniss will play in the future of the lithium sector and as we continue to see signs of global improvement in this industry, we are optimistic of our near-term plans for Australia’s next lithium mine,” he concluded.

More reading

• Afterpay and Creso Pharma were among the most traded shares on the ASX last week
• Here’s why the Core Lithium (ASX:CXO) share price rocketed 45% higher 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.

The post Here’s why the Core Lithium (ASX:CXO) share price stormed 19% higher today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/38BxsHx

Dividend shares could prove to be a sound means of obtaining a passive income for life. At the present time, they offer significantly higher income returns than other mainstream assets, such as cash and bonds.

Furthermore, many stocks have solid financial positions that mean their dividends are very affordable. They could also produce strong dividend growth in the coming years that outpaces inflation and provides an investor with an increasingly sound financial outlook.

Reducing the risk of loss from dividend shares

Dividend shares offer a substantially higher passive income than other assets due to low interest rates and the effect of the 2020 stock market crash. Low interest rates mean that the income returns available on cash and bonds are below inflation in some cases. Meanwhile, many income stocks have not fully recovered from the market decline. This may mean that they offer above-average yields at the present time.

Of course, the higher income return from dividend stocks comes with greater risk. A weak global economic outlook means that some companies could experience challenging operating conditions. As such, diversifying among a wide range of companies, sectors and regions could be a shrewd move. It may reduce risk and provide an income investor with a more reliable return in the coming years.

An affordable passive income

Alongside diversification, enduring that dividend shares can afford their current payouts is crucial when seeking to make a passive income for like. A company with a generous yield that is unaffordable is unlikely to provide any added value to an income investor.

Assessing a company’s financial position can provide guidance on the likelihood of it experiencing difficulties in paying dividends. For example, low debt levels and defensive characteristics may help in producing a robust income return. Similarly, a company’s dividend cover provides an insight into the amount of headroom it has when making dividend payouts. It is calculated by dividing net profit by dividends. A figure of more than one suggests it has room to spare when rewarding shareholders for its success via a dividend.

Dividend growth opportunities

Dividend shares that can increase shareholder payouts at a fast pace may become increasingly valuable. The loose monetary policies being followed in major economies could lead to higher inflation. Therefore, a passive income that can grow at a high rate could be required in the coming years to maintain, or increase, an investor’s spending power.

A company’s capacity to raise dividends at a fast pace is closely linked to its financial outlook. Therefore, buying shares in companies that could benefit from long-term industry growth trends, or those businesses that have a competitive advantage over their peers, may be a sound move. They may be able to produce strong dividend growth that further enhances an investor’s passive income in the coming years.

More reading

• Here’s why the Core Lithium (ASX:CXO) share price stormed 19% higher today
• The Saracen (ASX:SAR) share price dips on dividend update
• Here’s why the Universal Store (ASX:UNI) share price is surging 10% higher
• Why the Audinate (ASX:AD8) share price is dropping lower today
• Why lithium miner AVZ Minerals (ASX:AVZ) is shooting higher today

Motley Fool contributor Peter Stephens 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.

The post How I’d invest in dividend shares to make a passive income for life appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/39xpPl0

The Saracen Mineral Holdings Limited (ASX: SAR) share price has dipped 0.42% in early trade. Shares in the Aussie gold miner are in focus after an update on its special dividend payment to shareholders late last night.

Why is the Saracen share price moving today?

Northern Star and Saracen announced a $16 billion mega merger-of-equals back in October 2020. The proposed merger would see Northern Star acquire 100% of Saracen shares for 0.3763 Northern Star shares.

The Saracen board has unanimously recommended that shareholders approve the proposed scheme of arrangement relating to the deal. Last night’s release provided an update on the special dividend to shareholders as part of the scheme.

Saracen will pay a fully franked special dividend to Saracen shareholders of $0.038 per share, conditional on the scheme becoming effective. Eligible shareholders should also receive a $0.016 per share franking credit, subject to ATO approval.

The Saracen share price is one to watch following the latest update as shareholders react to the news.

The special dividend record date is Wednesday 3 February with scheduled payment on 11 February 2021. The new Northern Star shares are set to commence trading on Monday 15 February 2021.

How have ASX gold shares performed recently?

2020 was a good year for ASX gold shares in general as markets edged towards a more hawkish view.

The coronavirus pandemic and subsequent bear market saw investors flock to the perceived safety of gold. Gold prices surged higher last year and boosted profit margins for major producers.

That meant the Saracen share price rocketed higher and remains up 34.8% in the last year. It was a similar story for Northern Star shares which have climbed 10.0% higher in 12 months.

Both ASX gold shares have seen a soft start to 2021 and edged lower in early trade this year. However, the merger looms as a potential game changer for both Saracen and Northern Star as they look to combine assets and operations to become a serious global player.

More reading

• ASX 200 down 0.4%: Afterpay tumbles, bank shares lower, gold miners crash
• Why Newcrest (ASX:NCM) and Northern Star (ASX:NST) shares could crash lower today
• 5 things to watch on the ASX 200 on Monday
• Why these leading ASX gold and tech shares could rally on through 2021
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Ken Hall 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.

The post The Saracen (ASX:SAR) share price dips on dividend update appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/39k1Jd2

The Universal Store Holdings Ltd (ASX: UNI) share price is surging higher this morning.

At the time of writing, the fashion retailer’s shares are up 10% to $5.70.

Why is the Universal Store share price surging higher?

Investors have been fighting to get hold of the fashion retailer’s shares after it revealed that it expects to report a significant jump in its sales and earnings in the first half of FY 2021.

According to the release, Universal Store’s first half sales were up 24% to approximately $118 million for the six months ended 31 December.

Management advised that this was driven by a 26.5% increase in like for like sales, which offset store closures in Adelaide, Melbourne, and Sydney during lockdowns.

And thanks to an improvement in its gross margin, Universal Store’s profits are expected to grow at an even quicker rate.

The company advised that its underlying earnings before interest and tax (EBIT) is expected to be in a range of $30 million to $31 million for the half. This represents growth of between 61% and 67% on the prior corresponding period.

Universal Store’s CEO, Alice Barbery, commented; “Despite a significant period of disrupted trade in Melbourne and to a lesser extent Adelaide and Sydney the results delivered across the first half of FY2021 are well ahead of the results delivered in the prior corresponding period.”

“This not only highlights the ability of our team but also our agility to operate in what has been an unpredictable trading environment,” she added.

However, due to the ongoing uncertainty relating to COVID-19, the company has decided against providing any guidance for the full year at this time.

An update on its performance so far in the second half is likely to be released with its half year results on February 25.

Elsewhere, the Premier Investments Limited (ASX: PMV) share price is charging 14% higher after the release of an update of its own today.

It expects first half Premier Retail EBIT to be in the range of $221 million to $233 million, up between 75% and 85% on the prior corresponding period.

More reading

• ASX 200 drops 1.1%
• Why a2 Milk, AVZ Minerals, Nanosonics, & Premier Investments are dropping lower
• Investors caught in crossfire as ASX retailers battle ASX property stocks in 2021
• 3 recent ASX IPOs to watch
• Forecast double-digit surge in Aussie dollar could put brakes on ASX rally in 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Universal Store (ASX:UNI) share price is surging 10% higher appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3i5NBZ9

The Audinate Group Ltd (ASX: AD8) share price is on the move on Wednesday following the release of a trading update.

At the time of writing, the professional audio-visual media networking solutions provider’s shares are down 1% to $7.72.

What did Audinate announce?

This morning Audinate revealed that it generated unaudited revenue of US$11.1 million for the six-month period ended 31 December.

This was in line with the prior corresponding period, which was pre-COVID, and up from US$9.3 million during the second half of FY 2020.

However, the strengthening of the Australian dollar versus the US dollar has adversely impacted its revenue in the local currency. For the half, revenue came in at approximately A$15.4 million, which is down from A$16.1 million a year earlier.

Audinate’s CEO, Aidan Williams, commented: “Our first half revenue result is pleasing, yet we remain cautious of the near-term economic uncertainty associated with the ongoing impacts of COVID-19 around the world. However, our strong balance sheet has enabled us to remain focused on our medium-term strategic priorities.”

Video development team established.

Following an unrelated corporate acquisition in Cambridge, United Kingdom, Audinate revealed that it has been able to attract and establish an experienced video development team of 11 employees.

The release advises that the onboarding of four team members has been completed, with the remainder commencing over the coming months. After which, Audinate expects the team to be further strengthened by the end of the financial year.

These initiatives are estimated to result in additional cash expenditure in FY 2021 of approximately A$1.3 million to A$1.5 million. A portion of this will be capitalised in accordance with the existing policy on capitalisation of development costs.

Mr Williams commented: “The establishment of a dedicated video team significantly increases the level of video expertise and experience within Audinate and improves our ability to execute more swiftly on our video strategy. The addition of the VP of Strategic Partnerships is another important step in being able to execute on other business opportunities, which are emerging more regularly.”

More reading

• 3 ASX growth shares to buy this week
• Got cash to invest? Here are 3 ASX shares to buy
• Put these small cap ASX shares on your watchlists today
• 3 recovery ASX shares to buy for 2021
• 3 ASX growth shares to buy

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 AUDINATEGL FPO. The Motley Fool Australia has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Audinate (ASX:AD8) share price is dropping lower today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2LHHm1A

The AVZ Minerals Ltd (ASX: AVZ) share price is charging higher on Wednesday after the release of an update.

In early trade the lithium-focused mineral exploration company’s shares are up 7.5% to 22 cents.

This latest gains means the AVZ Minerals share price is now up 175% over the last two months from 8 cents.

What did AVZ Minerals announce?

This morning AVZ Minerals revealed that it has successfully completed the preliminary metallurgical testing for its planned lithium sulphate plant and production of 1.5 kg of primary lithium sulphate material.

The company advised that it engaged Kingston Process Metallurgy (KPM) in Canada to test, at bench scale, each of the processes in its proposed Manono Lithium Sulphate plant flowsheet.

The test work objective was to produce primary lithium sulphate from Manono spodumene concentrate (SC6) and to demonstrate the technical feasibility of the flowsheet.

According to the release, the test work was undertaken from September to December 2020 at KPM’s Kingston, Ontario, facility. Approximately 9kg of spodumene concentrate (SC6) from the Manono deposit assaying approximately 6.1% (Li2O) was processed.

After which, conversion of the alpha-spodumene to beta-spodumene was successfully completed, with the test results indicating a primary lithium sulphate product containing greater than 80 wt. % lithium sulphate monohydrate can be readily produced.

Management notes that this would make a highly suitable feedstock for the electrolytic production of lithium hydroxide monohydrate and ultimately lithium batteries.

AVZ’s Managing Director, Mr Nigel Ferguson, said: “It is pleasing to have independent confirmation of our proposed lithium sulphate plant process as well as verification that our product is suitable for feedstock for battery plants.”

“KPM’s test work provides further confirmation that our high-quality Manono product is capable of producing clean Primary Lithium Sulphate that is suitable for use in the production of batteries,” he concluded.

More reading

• Why a2 Milk, AVZ Minerals, Nanosonics, & Premier Investments are dropping lower
• Here are the best All Ordinaries performers of 2020
• Why AVZ Minerals, Immutep, Kogan, & Strategic Elements shares are pushing higher
• Why the AVZ Minerals (ASX:AVZ) share price rocketed 27% higher
• Why AVZ Minerals, BrainChip, BSA, & Credit Corp shares are storming higher

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.

The post Why lithium miner AVZ Minerals (ASX:AVZ) is shooting higher today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3qc2HyY