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The Bellevue Gold Ltd (ASX: BGL) share price is currently trading higher as the company released mining results that will pave the way for future drilling. At the time of writing, the Bellevue share price is trading 4.9% higher at $1.07.

What Bellevue does

Bellevue is an ASX listed company which boasts one of the highest-grade, under-developed gold discoveries in the world at the historic Bellevue Gold Mine in Western Australia.

Prior to its reopening, the mine was in operation from 1986 to 1997 and was, in its day, one of Australia’s highest-grade gold mines. Bellevue is rapidly expanding the current gold resource, with further exploration and step out and infill drilling ongoing at the property.

Bellevue Gold posts impressive results

This morning, Bellevue announced that extensional and infill exploration drilling at the Bellevue Gold Project in Western Australia has intersected high-grade mineralisation both outside and within the existing known resource boundary.

Drilling has been continuing on site despite impacts of the global pandemic.

Bellevue’s share price has been rising as the company’s investment in exploration drilling continues to create significant value for Bellevue stakeholders.

Managing Director, Steve Parsons commented that:

“This all points to a larger overall mineralised envelope with more gold in the high-confidence indicated category, which in turn gives us even greater scale while continuing to de-risk the project.”

Furthermore, drilling is on track to deliver a further increase in the indicated resource in the December quarter, with stage two infill drilling to upgrade more of the resource, which currently stands at 2.3Moz at 10g/t gold.

What now for the Bellevue share price?

The Bellevue share price has been on an amazing run in 2020, soaring 98% since the start of the year. This is largely thanks to the strong tailwinds that a rising gold price has provided. Gold is largely being tipped as a new standard in portfolios.

However, investors should be just as wary of a pullback in the gold price, with gold recently witnessing a slight fall from its highs.

More reading

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• ASX 200 up 1.6%: CBA higher on COVID-19 loan deferrals update, Reliance rockets

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) has returned to form and is charging notably higher. At the time of writing the benchmark index is up a sizeable 1.6% to 5,908.5 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

The Electro Optic Systems Hldg Ltd (ASX: EOS) share price is down 1.5% to $5.38. On Wednesday the defence and aerospace company announced the conclusion of contract negotiations with the government. These negotiations have resulted in the government purchasing 251 Remote Weapon Stations and related materiel for a total of $94 million. Some investors may have been expecting better terms.

The Jumbo Interactive Ltd (ASX: JIN) share price has tumbled 4.5% lower to $11.94. Investors have been selling the lottery ticket seller’s shares despite it being the subject of two positive broker notes. One of those was out of Citi. This morning its analysts reiterated their overweight rating and $14.30 price target on Jumbo’s shares. This follows news that the company has signed a deal with Lotterywest.

The Nearmap Ltd (ASX: NEA) share price is down 1% to $2.34. This is despite there being no news out of the aerial imagery technology and location data company on Thursday. However, it is worth noting that a number of tech shares are underperforming the rest of the market today.

The OceanaGold Corp (ASX: OGC) share price has crashed 9% lower to $2.15. The catalyst for this was the announcement of a C$150 million equity raising this morning. OceanaGold has entered into an agreement with a syndicate of underwriters who have agreed to purchase 73 million shares at a price of C$2.06 per new share. OceanaGold intends to use the net proceeds to fund organic growth projects. This includes the Haile underground development.

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• ASX 200 sinks 2%, Corporate Travel (ASX:CTD) soars 8%
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• Why Corp Travel Management, EOS, Evolution, & Recce shares are charging higher
• Why the Jumbo (ASX:JIN) share price is moving higher today
• Electro Optic Systems (ASX:EOS) share price surges higher on $94 million government contract

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 Electro Optic Systems Holdings Limited and Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited and Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) has bounced back and is on course to record a very strong gain. The benchmark index is up 1.6% to 5,909.5 points.

Here’s what has been happening on the market today:

CBA deferrals update.

The Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher following the release of an update on its COVID-19 temporary loan repayment deferrals. At the end of August, Commonwealth Bank’s total loan deferrals stood at 174,000. This was down slightly from 182,000 in July and 210,000 in June. In dollar terms, the balance of these loan deferrals reduced to $59 billion from $62 billion in July and $67 billion in June.

Reliance sales growth impresses

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price is rocketing higher on Thursday after releasing a trading update ahead of its investor day event. The plumbing parts company’s update reveals that its sales growth has been strong during September. Up to and including 25 September, Reliance revealed month to date Americas sales growth of 29%, APAC sales growth of 4%, and EMEA sales growth of 24%.

Mesoblast trading halt.

The Mesoblast limited (ASX: MSB) share price was placed in a trading halt prior to the market open this morning. The biotech company requested the halt pending an announcement in relation to the United States Food and Drug Administration’s review of its Biologics License Application for RYONCIL (remestemcel-L). This is for the treatment of paediatric patients with steroid-refractory acute graft versus host disease. The Food and Drug Administration was scheduled to review RYONCIL on Wednesday (United States times).

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Thursday has been the Reliance share price with a massive 11% gain following its trading update. The Pro Medicus Limited (ASX: PME) share price has been the worst performer on the index today with a 2% decline. This is despite there being no news out of the healthcare technology company.

More reading

• Why BHP, Paradigm, Reliance, & SeaLink shares are charging higher today
• Investors push for 40% women in ASX 200 exec roles
• Commonwealth Bank (ASX:CBA) share price higher on COVID-19 loan deferral update
• Potential ASX winners from government’s $1.5bn manufacturing blueprint
• Why Mirvac (ASX:MGR) and these ASX REITs could boom in 2020

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 Reliance Worldwide Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Reliance Worldwide Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 Droneshield Ltd (ASX: DRO) share price has rocketed higher today on news the company has bagged a fresh government contract.

The Droneshield share price is up 10% to 22 cents at the time of writing. This compares to the All Ordinaries Index (ASX: XAO) which is also moving higher today, up 1.4% to 6,093 points.

Let’s take a look at Droneshield.

What does Droneshield do?

Droneshield specialises drone security technology, designing and developing detection systems that protect people, organisations and critical infrastructure from drones.

Its multi-layered drone countermeasures include detection and disruption products which are much needed in the current environment.

Its key product is the DroneGun, which is a hand-held, lightweight portable weapon that is highly effective against drones.

New government contract

The global defence contractor received an order for its DroneGun Tactical hand-held counter-drone products. The customer is from a major intelligence government agency from one of the ‘Five Eyes’ countries (a signals intelligence alliance between the United States, Canada, Australia, the United Kingdom and New Zealand).

The deal is worth approximately $900,000 with delivery expected to be through Q4 2020 and Q1 2021.

What did the CEO say?

Droneshield CEO Oleg Vornik was pleased with the new order, saying:

We are excited to see continued conversion of our extensive pipeline, following the hard work in last the several years with this and other customers.

This order cements our relationship with this customer, continuing to set the DroneShield products as the go-to counterdrone solutions for key government agencies globally, in terms of further DroneGun orders, sales of complementary products such as RfPatrol MKII and our vehicle and fixed site systems, and opening the door for custom larger projects in the EW/signals intelligence domain.

Other developments

Just a few weeks ago, Droneshield advised it had won a contract with a Southeast Asian country for a DroneSentry system. The order was a first for this country and anticipated to lead to other multimillion-dollar sales. The agreement will see Droneshield awarded about $1 million before the product ships in Q4 2020.

DroneShield also received funding from the US Department of Defence for the development of its DroneShieldComplete command-and-control (C2) system. The amount invested was not disclosed, but is expected to be updated to the market when available.

Is the Droneshield share price a good investment?

The Droneshield share price has been on a recovery mission since reaching its 52-week low of 8.4 cents in March. However, it’s still a long way off its multi-year high of 46.5 cents achieved last year.

I think that Droneshield offers exciting prospects in the defence area, given the current tense geopolitical environment. I like what Droneshield brings to the market, and will be adding the company to my watchlist.

More reading

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to bounce back strongly from yesterday’s surprise selloff. At the time of writing the benchmark index is up 1.35% to 5,894.3 points.

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

The BHP Group Ltd (ASX: BHP) share price is up almost 3% to $36.58. Investors have been buying the mining giant’s shares after analysts at Credit Suisse upgraded them. According to the note, the broker has upgraded BHP’s shares to an outperform rating and lifted its price target to $39.00. This follows a lift in its iron ore forecasts due to a more positive view on Chinese steel consumption.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has jumped 8% to $2.86. This morning the biopharmaceutical company released an update on a study of its Zilosul for the treatment of knee osteoarthritis. According to the release, additional data has shown that Zilosul reduced pain by an average of 47.3%. The Paradigm share price is now up over 25% since the start of the week.

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price has surged over 11% higher to $4.25. Investors have been fighting to get hold of the plumbing parts company’s shares after it revealed strong first quarter sales growth. Up to and including 25 September, Reliance revealed month to date Americas sales growth of 29%, APAC sales growth of 4%, and EMEA sales growth of 24%.

The SeaLink Travel Group Ltd (ASX: SLK) share price has stormed 6% higher to $5.88. The catalyst for this was the announcement of a five-year $1 billion contract win in Singapore. The Land Transport Authority of Singapore has awarded SeaLink’s Tower Transit business the PT217 contract to operate both the Bulim package and the Sembawang-Yishun package of public bus services in Singapore. Both start next year and have two-year extension options.

More reading

• SeaLink (ASX:SLK) share price surges to record high on major Singapore contract win
• Paradigm (ASX:PAR) share price rockets higher on Zilosul update
• Reliance (ASX:RWC) share price on watch after strong Q1 sales growth
• Will the Fortescue (ASX:FMG) share price outperform in 2021?
• 3 ASX shares making all-time highs today

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 Reliance Worldwide Limited. The Motley Fool Australia has recommended Reliance Worldwide Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Nine major investors have signed a plan to push for 40% female representation in S&P/ASX 200 Index (ASX: XJO) executive roles by 2030.

The $52 billion superannuation fund HESTA on Thursday launched the 40:40 Vision campaign, with Aberdeen Standard Investments, BlackRock Australia, Ellerston Capital, Fidelity International, First Sentier Investors, IFM Investors, Pendal Group and WaveStone Capital on board as founding signatories.

These investors will now target ASX 200 companies to get them to sign up to the pledge as well.

Currently only 30 ASX 200 companies have at least 40% women in executive positions.

The initiative wants to see policies and targets that will eventuate in 40% women, 40% men and 20% “any gender” in C-suite roles by the year 2030.

Companies that sign on will need to be transparent on their progress and set interim targets for 2023 and 2027.

Not good enough, say investors

HESTA Chief Executive, Debby Blakey, said progress was currently too slow and was proving to be a risk to shareholders.

“At this rate it will be another 80 years before we see equal representation of men and women at CEO level – and similarly in executive leadership – unless action is taken now,” she said.

“We see lack of gender diversity in leadership as a financial risk. Companies that fail to consider 50% of the population for leadership positions risk missing out on the best people and the performance of the organisation will eventually suffer.”

Blakey, who is also chair of the 40:40 steering group, said the initiative gives companies the flexibility to set their own path to the 40% goal.

“We want to see real, genuine change – not just additional layers of needless reporting and governance that invariably becomes a tick-the-box exercise,” she said.

“As a significant investor, we cannot simply diversify away from risks stemming from social inequality.”

HESTA, as a super fund for the health and community sector workers, has 80% female membership.

There was significant evidence that gender balance in executive positions led to better decision making and stronger company performance.

“As a long-term investor, we see gender diversity as an accurate indicator of a well-run company, with strong, inclusive decision making that’s more likely to deliver long-term value to shareholders,” she said.

“We also know that women in senior leadership are important champions for cultural change. More inclusive workplaces mean more career opportunities for women that can, over the long-term, improve their retirement outcomes.”

More reading

• Potential ASX winners from government’s $1.5bn manufacturing blueprint
• Why Mirvac (ASX:MGR) and these ASX REITs could boom in 2020
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• Are Coles (ASX:COL) shares a top option for ASX dividend investors today?
• ASX 200 sinks 2%, Corporate Travel (ASX:CTD) soars 8%

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 SeaLink Travel Group Ltd (ASX: SLK) share price has been a very strong performer on Thursday.

In morning trade the travel and transport company’s shares are up 8.5% to a record high of $6.02.

Why is the SeaLink share price surging higher?

Investors have been buying the company’s shares on Thursday after it announced a major contract win.

According to the release, following a competitive tender, the Land Transport Authority of Singapore has awarded SeaLink’s Tower Transit business the PT217 contracts to operate both the Bulim package and the Sembawang-Yishun package of public bus services in Singapore.

Tower Transit has been operating public bus services in Singapore for the Land Transport Authority since 2016.

Two new five-year contracts have been signed, with two-year extension options. These commence from 30 May 2021 for Bulim services and 5 September 2021 for Sembawang-Yishun. The Bulim contract is a renewal, which management notes extends its long track record of successful contract retention.

These contracts secure more than S$1 billion (A$1.02 billion) of contracted revenue over the first five years. They involve the operation of a total of 56 bus routes and the maintenance of more than 700 buses, two depots, five interchanges, and a terminal.

A milestone.

SeaLink Group’s CEO, Clint Feuerherdt, appeared to be very pleased with the agreement and notes that it is a milestone for its Singapore business.

He commented: “This announcement is a milestone for SeaLink’s subsidiary, Tower Transit Singapore, as it means a doubling of the scale of our operations in Singapore in terms of the number of routes, staff, buses, facilities and revenue.It also reinforces our presence in Singapore, one of the top-ranked cities in the world for public transport. SeaLink remains passionately committed to designing, delivering and operating world class services that reflect the needs of the community and our customers.”

“With two bus packages, Tower Transit Singapore will be in a strong position to continue to contribute to Singapore’s world-class, innovative bus network. We look forward to working on a smooth implementation for these contracts with the Land Transport Authority in the coming months and continuing to support its plans to improve and enhance Singapore’s land transport industry.” he concluded.

More reading

• Why BHP, Paradigm, Reliance, & SeaLink shares are charging higher today
• 3 ASX shares making all-time highs today
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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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is charging higher again on Thursday.

In morning trade the biopharmaceutical company’s shares are up a sizeable 9% to $2.89.

This latest gain means the Paradigm share price is now up over 25% since the start of the week.

Why is the Paradigm share price rocketing higher?

Investors have been fighting to get hold of the company’s shares this week following a series of positive updates.

On Monday Paradigm announced that it has received positive feedback from the European Medicines Agency after its recent scientific advice meeting.

Then on Tuesday Paradigm revealed that it has extended and expanded its exclusive license and supply agreement with bene pharmaChem. This is a big positive for Paradigm as bene pharmaChem is the only FDA approved manufacturer/supplier of Pentosan Polysulphate Sodium (PPS). PPS is used in the company’s Zilosul product.

Speaking of Zilosul, this morning Paradigm provided an update on a study involving the promising product.

What did Paradigm announce?

Today, Paradigm has provided an update on a study which saw patients receive Zilosul under the Therapeutic Goods Administration (TGA) Special Access Scheme (SAS) for the treatment of knee osteoarthritis.

According to the release, the company has received additional data on 42 patients. This data brings the cumulative average Western Ontario and McMaster Universities Osteoarthritis Index (WOMAC) reduction in pain from the baseline for the 76-patient cohort to 47.3%.

This compares to 44.9% from the first 34 patients.

The release explains that 73.7% of the 76 patients reported at least a 25% reduction in WOMAC pain, with 52.6% of patients reporting a greater than 50% reduction in WOMAC pain.

Pleasing outcomes.

The company’s CEO, Paul Rennie, was pleased with the data.

He said: “As we progress toward regulatory submissions for Paradigm’s proposed Phase 3 global study, it’s pleasing to receive consistent patient WOMAC pain reduction outcomes through the TGA Special Access Scheme.”

“Consistency is key here. We are seeing consistent clinically meaningful reduction in pain and improvement in joint function in OA patients who have failed to respond to other medications. Paradigm remains primarily focussed on our upcoming submissions to the multiple regulatory agencies as we continue to progress toward commercialisation,” he concluded.

More reading

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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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher on Thursday following the release of an update.

At the time of writing the banking giant’s shares are up 0.5% to $63.94.

Why is the CBA share price pushing higher?

Investors have been buying the bank’s shares after it released an update on its COVID-19 temporary loan repayment deferral data through to the end of August.

According to the release, Commonwealth Bank’s total loan deferrals stood at 174,000 at the end of August, down slightly from 182,000 in July and 210,000 in June.

In respect to dollar value, the balance of these loan deferrals reduced to $59 billion from $62 billion in July and $67 billion in June.

Home loan deferrals.

Commonwealth Bank’s home loan deferrals represented 7.4% of its portfolio at the end of August, down from 7.6% in July and 8.2% in June.

These loans account of 9.8% of its home loan portfolio by balance. Which was down from 10.1% in July and 10.8% in June.

Of these loans, 32.6% are investment loans, 14.6% are interest only, and 13.5% have an LVR >90%.

Small business deferrals.

Approximately 15.5% of small to medium sized enterprises (SME) loans were being deferred at the end of August. This was a reduction from 16.4% in July and 19.4% in June.

These appear to be higher value loans, with 24.1% of the portfolio (by balance) on deferral. This is down from 26.4% in July and 28.4% in June.

The end (of deferring) is coming.

Commonwealth Bank’s CEO, Matt Comyn, commented: “Since the onset of the pandemic, our priority has been to do what we can to assist our customers in managing the challenges of COVID19, including providing temporary loan repayment deferrals on approximately 250,000 home, personal and business loans.”

The chief executive notes that the end of the initial deferral period is coming and the bank is working with customers on what to do next.

“As we approach the end of the initial deferral periods, we have been contacting all customers with deferred loans to talk with them about their options, including returning to full or part payment, or converting their loans to interest only. Many of those contacted will be able to recommence their repayments. For customers who are facing financial hardship, we are reaching out to offer solutions tailored to their individual needs,” he concluded.

More reading

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• ASX investors were buying Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL) shares last week
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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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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AMP Limited (ASX: AMP) will reportedly cut as much as 30% of its workforce in some business units.

The share price for the investment giant has been in freefall for a couple of years. It was $5.43 in March 2018 but now sits at a sorry $1.30.

In that time AMP has gone through sexual harassment scandals and been busted for multiple fee-for-no-service and overcharging scams. It has churned through board members as a result.

This week staff were informed that two of its biggest divisions would have its duplicate operations merged.

Chief executive Francesco De Ferrari reportedly said in the memo that some sections could have 30% of its workforce lopped off.

AMP confirmed the restructure to The Motley Fool.

“AMP has made changes to its teams that will centralise some business services,” said a company spokesperson.

“Our focus is on continuing to reshape the organisation to drive efficiency and support the delivery of AMP’s strategy to become a simpler, client-led organisation.”

The changes involve its investment arm AMP Capital and the banking brand AMP Australia.

De Ferrari had already put in place a billion-dollar “transformation” plan last year to rejuvenate the company.

But this year new chair Debra Hazelton flagged it was looking at the possibility of carving up AMP for potential bidders.

The Australian Mutual Provident Society was established in 1849 as a non-profit mutual society. The company demutualised to list in 1998 and has a market capitalisation of $4.5 billion.

Despite the recent share price drop, AMP stocks are still trading at an astonishing 107 price to earnings (P/E) ratio.

More reading

• The next ASX stock to be rocked by board shakeup after Rio Tinto (ASX:RIO)
• Is the AMP (ASX:AMP) share price a buy after Friday’s fall?
• ASX 200 Weekly Wrap: ASX 200 snaps 4 week losing streak… just
• These were the worst performing ASX 200 shares last week
• ASX 200 drops 0.3%, gold miners keep rising

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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