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It has been a hellacious year for investors seeking inflation-beating returns. Those with exposure to certain commodities have generally performed stronger than other pockets of the market. Yet, 2022 probably won’t go down as a triumphant one for copper.

Unlike lithium, the price of copper has descended throughout the year rather than strengthen. In quantifiable terms, lithium has skyrocketed by more than 100%. Meanwhile, a chunk of copper is going for 15% less. The stark contrast has played out despite both materials being expected to benefit from the electrification trend.

Although, the script might be flipped next year, according to some experts.

Supply won’t cope with demand

All commodity prices are determined by the balance of supply and demand. That’s why Goldman Sachs is expecting big things from the highly conductive metal in 2023.

The broker believes copper could reach a new record high price of US$11,000 per tonne. Its bullish forecast doesn’t come without reason. Goldman is estimating a 178,000-tonne copper deficit next year. Whereas, the broker previously forecast a 169,000-tonne surplus, betting on new supply coming online.

However, forecasts are suggesting that additional supply may not materialise. Any such slump in supply could boost prices if demand for the material holds steady or increases — a scenario that copper investors would be glad to witness in light of the poor performance in 2022 as shown below.

Data presented by the International Energy Agency (IEA) similarly portrays a roadmap for increased copper demand in the future. In a report titled The Role of Critical Minerals in Clean Energy Transitions, the IEA estimate that 45% of copper will be consumed by the energy sector in 2040 under its ‘sustainable development scenario’.

Under these conditions, current (operating) and future (under construction) supply will fall short of demand by 2025. As depicted in the chart below, this gap is only expected to widen for the foreseeable future.

Biggest ASX copper shares in the hot seat

If copper enjoys a rise that is anything like lithium this year, the returns from ASX copper shares could be considerable. After all, some of the best-performing investments on the Aussie market this year have been in lithium shares.

At the largest end of the market, here’s how the biggest lithium names have performed in 2022:

• Rio Tinto Limited (ASX: RIO) up 18%
• Mineral Resources Ltd (ASX: MIN) up 65%
• Pilbara Minerals Ltd (ASX: PLS) up 47%
• Allkem Ltd (ASX: AKE) up 36%

For those interested, some of the largest ASX-listed companies with exposure to copper include BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), Newcrest Mining Ltd (ASX: NCM), and IGO Ltd (ASX: IGO).

The post Could copper become ‘the lithium’ of 2023? appeared first on The Motley Fool Australia.

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More reading

• Why is BHP’s dividend yield so high?
• Own Rio Tinto shares? Here are the key dates to watch in 2023
• Why did the iron ore price just hit a 6-month high?
• 5 things to watch on the ASX 200 on Monday
• Why Bank of Queensland, Block, Fletcher Building, and Newcrest are dropping today

Motley Fool contributor Mitchell Lawler 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 S&P/ASX 200 Materials Index (ASX: XMJ) is 0.52% in the green today, but these three ASX mining shares are charging higher.

The Minbos Resources Ltd (ASX: MNB), Meteoric Resources NL (ASX: MEI) and BBX Minerals Ltd (ASX: BBX) share prices are all lifting today.

Let’s take a look at these three ASX mining shares in more detail.

BBX Minerals

BBX Minerals shares are lifting 19% at the time of writing to 8.7 cents. However, in earlier trade BBX shares soared 27% before retreating. BBX is a mineral exploration and technology company with operations in northern Brazil.

In news today, BBX advised bioleaching test work is continuing to show “excellent results”. Results from a sample from drill hole TED-015 showed a recovered grade of:

• 95.38 g/t 5E precious metals (14.13 grams per tonne (g/t) gold, 79.27 g/t palladium, 0.17 g/t platinum, 0.72 g/t lawrencium and 1.1 g/t rhodium)

The BBX share price has descended nearly 44% in the last year. However, it has recovered 24% in the last week.

Minbos Resources

Minbos Resources shares are soaring 22% today to 9.3 cents despite no news from the company. The company is developing the Cabinda Phosphate Project and the Capanda Green Ammonia Project.

Last week, Minbos reported it had signed a historic green energy Memorandum of Understanding (MOU) for the Capanda Green Ammonia Project. The MOU has been signed between Minbos’ wholly owned subsidiary Green Amonia and Angola’s National Electricity Transmission Network. Minbos described the agreement as a “global green energy first”. Commenting on the news, Minbos CEO Lindsay Reed said:

The MOU with Angola’s National electricity network operator has created a number of green project global firsts.

The Minbos share price has slid 15% in the last year.

The post 3 ASX mining shares exploding over 20% on Monday appeared first on The Motley Fool Australia.

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More reading

• Buy AGL shares for 17% upside: top broker
• Here are the 3 most heavily traded ASX 200 shares on Monday
• 2 ASX lithium shares to buy, and 1 to avoid: broker
• Guess which ASX 200 gold CEO just sold $2 million worth of shares
• Why has the Sayona Mining share price tanked 10% in 2 weeks?

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 AGL Energy Limited (ASX: AGL) share price could be in for a winning streak if one top broker is to be believed.

It’s said to be tipped to lift another 16.66% on the back of its strong 2022 performance.

Right now, the AGL share price is $7.92. That’s 25.4% higher than it was at the start of this year.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has slipped nearly 6% year to date.

Let’s take a closer look at one top broker’s bullish outlook for the ASX 200 energy provider’s stock.

Could the AGL share price rocket above $9?

The AGL share price could be on the up and up following a dramatic year for the 185-year-old company.

Jefferies recently initiated coverage of the S&P/ASX 200 Index (ASX: XJO) energy provider – slapping it with a buy rating and tipping it to reach $9.24, The Australian reports.

The S&P/ASX 200 Utilities Index (ASX: XUJ) staple has had a rollercoaster of a year. Its demerger plan was scrapped in May on the back of a campaign by then-newly crowned major shareholder Mike Cannon-Brookes.

The company’s then-CEO Graeme Hunt stepped down on the plan’s abandonment, as did former chair Peter Botten and two directors.

More recently, shareholders appeared to side with Cannon-Brookes over the AGL board at the company’s annual general meeting, voting to elect four directions nominated by the tech billionaire despite the board’s disapproval last month.

Meanwhile, the power producer (which also happens to be Australia’s biggest emitter) vowed to exit coal by 2036 in September. The move will likely demand up to $20 billion of investment in renewable and firming technology.

Jefferies isn’t the only market participant seemingly excited by the company’s newly shaped future.

Two new AGL directors recently forked out a combined $200,000 to invest in the ASX 200 share.

Kerry Schott and Christine Holman bought 12,000 and 13,000 shares respectively, paying between $8.09 and $8.16 apiece, earlier this month.

The post Buy AGL shares for 17% upside: top broker appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• 2 directors have been buying up AGL shares. Should you?
• Why is the AGL share price tumbling on Monday?
• Fortescue share price jumps amid Twiggy’s $4b renewables takeover
• Buying AGL shares for the dividends? Read this first

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 Jefferies Financial Group. 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 S&P/ASX 200 Index (ASX: XJO) looks to be playing the role of the Grinch today. On the last Monday before Christmas, the ASX 200 has slipped, currently down by 0.17% at just under 7,140 points.

But who knows what the rest of the week will bring? Perhaps investors will get their ASX presents later this week after today’s lump of coal in the proverbial stocking. But let’s now take a look at the shares currently topping the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Star Entertainment Group Ltd (ASX: SGR)

A rare appearance from ASX 200 gaming company Star Entertainment marks our first share of the day. So far this Monday, a massive 12.73 million Star shares have been folded to a new owner.

Sadly for investors, this looks like a consequence of Star’s dramatic share price fall that we are seeing this session. Star shares are currently down by a nasty 13.15% at $2.24 each. As we covered this afternoon, this appears to be a reaction to a new plan from the New South Wales government to raise casino taxes.

Core Lithium Ltd (ASX: CXO)

Next up we have a far more familiar face in ASX 200 lithium share Core Lithium. So far today, a chunky 15.61 million Core shares have been bought and sold. In some good news, it seems we have a share price gain to thank for these volumes.

Core shares have gotten out of the right side of the bed this morning, and are currently up by a healthy 3.02% to $1.09 each. This comes after the lithium company received some love from an ASX broker.

Pilbara Minerals Ltd (ASX: PLS)

Third and finally this Monday, it’s another ASX 200 lithium share in Pilbara Minerals to round out our list. This session has had a hefty 16.66 million Pilbara shares swap hands as it currently stands.

There’s been no news out of Pilbara today, so we probably blame the share price falls we have seen for this elevated volume. Pilbara has not received much of the goodwill that its lithium peer Core Lithium has, with the Pilbara share price presently down by 1.34% to $4.04 a share.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

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More reading

• 2 ASX lithium shares to buy, and 1 to avoid: broker
• Leading brokers name 3 ASX shares to buy today
• Why Appen, Arafura, Aurizon, and Star shares are sinking today
• Star Casino share price tumbles 11% on proposed new gambling tax
• Why Core Lithium, MMA, Northern Star, and Warrego Energy are charging higher

Motley Fool contributor Sebastian Bowen 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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A team at Barrenjoey has put an overweight rating on two ASX lithium shares and an underweight rating on another.

The three ASX lithium shares rated by the broker are Core Lithium Ltd (ASX: CXO), Global Lithium Resources Ltd (ASX: GL1) and Leo Lithium Ltd (ASX: LLL).

Let’s take a look at these three companies in more detail.

Global Lithium

Analysts at Barrenjoey have placed an overweight rating on the Global Lithium share price, The Australian reported on Friday. Global Lithium shares are 0.79% in the red today and fetching $1.885.

Global Lithium is exploring two hard rock lithium projects in Western Australia. This includes the Marble Bar Lithium Project and the Manna Lithium Project. Recently, Global Lithium updated the market on “game-changing” news at these two projects. Manna’s resource estimate has been lifted by 230%, while the forecast for Marble Bar is 71% higher.

Managing director Ron Mitchell said:

These game-changing Mineral Resource upgrades, at our 100%-owned Western Australian hard-rock lithium projects, are a great outcome for GL1 following the nearly 85,000m exploration programs we have undertaken safely during 2022.

The Global Lithium share price has surged nearly 197% in the last year.

Leo Lithium

Barrenjoey has reportedly placed an overweight rating on the Leo Lithium share price. The team has put a $1.20 price target on the company’s shares. This is more than double the company’s current share price of 48.8 cents.

The company is developing the Goulamina Lithium Project in Mali, West Africa. Recently, Leo Lithium advised of more high-grade drilling results at the project. Managing director Simon Hay said:

These additional results from our Danaya drilling program continue to reveal high-grade, thick
intercepts and confirm our expectations of multiple, wide mineralised pegmatite zones.

Leo Lithium shares have declined 30% in the last year.

Core Lithium

Core Lithium shares are rising 3.3% today to fetch $1.095. This company is developing the Flinders Lithium Project in the Northern Territory. The team at Barrenjoey rated Core Lithium as underweight with an 85 cent price target, according to The Australian.

However, on the flip side, the team at Macquarie has upgraded Core Lithium shares to an outperform rating with a $1.30 price target this morning. As my Foolish colleague James discussed, this move was partly on valuation grounds given Core Lithium’s shares have slid more than 40% since 14 November.

The Core Lithium share price has surged 114.71% in a year.

The post 2 ASX lithium shares to buy, and 1 to avoid: broker appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Why Core Lithium, MMA, Northern Star, and Warrego Energy are charging higher
• Why is the Core Lithium share price having such a stellar start to the week?
• Can Core Lithium shares really live up to the hype surrounding them?
• Here are the 3 most heavily traded ASX 200 shares on Friday

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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Investors rarely appreciate it when an insider of an ASX company is selling their shares. Even more so when it is a CEO. Yet that is the situation confronting shareholders of ASX 200 gold share Northern Star Resources Ltd (ASX: NST) today.

The Northern Star share price has had a fantastic start to the trading week. So far this Monday, Northern Star shares have put on an impressive 5.02% to $11.20 a share. Most ASX gold shares are shining today after the precious metal pushed higher late last week.   

Gold is now back over US$1,800 an ounce, which is giving ASX gold shares a major boost this Monday. Gold Road Resources Ltd (ASX: GOR) shares have gained 2.5% so far today to $1.69 each, while St Barabara Ltd (ASX: SBM) shares have risen by 5.6% to 76 cents each.

But one person might not be feeling too good about these moves today. Ironically, this is Northern Star managing director and CEO, Stuart Tonkin.

Last Friday, well after market close, Northern Star released an ASX announcement regarding Tonkin. This revealed that the CEO had sold 223,112 Northern Star shares between 15 and 16 December.

These were offloaded at an average price of $10.74 a share, reportedly to “meet Mr Tonkin’s estimated tax liability”. 223,112 shares at $10.74 each would have netted Tonkin around $2.4 million.

It’s rather poor timing for Tonkin in hindsight, who would have bagged an extra $100,000 or so if he had sold his shares at the current share price today.

Is it a big deal when ASX 200 CEOs sell shares?

It’s easy to bag a senior member of management for selling shares in their own company. But CEOs face the same financial risks and challenges as we all do, such as wealth diversification and tax liabilities. CEO share sales are rarely welcomed by investors but are not uncommon on the ASX.

Even after this rather hefty sale, Tonking retains 1,160,000 shares in Northern Star, which would be worth approximately $13 million at today’s pricing. So when you consider that, this share sale doesn’t seem too consequential.

The Northern Star share price has been a real ASX 200 winner in 2022 thus far, with the company’s shares up a healthy 18.5% or so year to date. Northern Star shares are also up more than 19.7% over the past 12 months, and up almost 90% over the past five years:

At the current Northern Star share price, this ASX 200 gold share has a market capitalisation of $12.94 billion, with a trailing dividend yield of 1.93%.  

The post Guess which ASX 200 gold CEO just sold $2 million worth of shares appeared first on The Motley Fool Australia.

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More reading

• Why Core Lithium, MMA, Northern Star, and Warrego Energy are charging higher
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Monday
• What’s driving ASX 200 gold shares to outperform this week?

Motley Fool contributor Sebastian Bowen 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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Given how many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Allkem Ltd (ASX: AKE)

According to a note out of Citi, its analysts have retained their buy rating on this lithium miner’s shares with an improved price target of $17.80. While Citi feels that lithium prices could have peaked amid slowing EV demand in China, it isn’t overly concerned due to contracted prices. Combined with production growth, Citi remains positive on Allkem’s outlook. The Allkem share price is trading at $12.30 on Monday.

Chalice Mining Ltd (ASX: CHN)

A note out of Bell Potter reveals that its analysts have retained their speculative buy rating and $11.10 price target on this mineral exploration company’s shares. Bell Potter notes that Chalice has delayed its scoping study at the Gonneville deposit. However, it is happy to overlook this delay given how it could result in a stronger study. In fact, Bell Potter sees potential for Chalice to increase its gross-revenue-per-tonne well ahead of current estimates. The Chalice share price is fetching $6.38 this afternoon.

Core Lithium Ltd (ASX: CXO)

Analysts at Macquarie have upgraded this lithium developer’s shares to an outperform rating with a $1.30 price target. According to the note, the broker made the move largely on valuation grounds after some significant weakness. In addition, Macquarie believes recent exploration activity has the potential to deliver a big boost to the company’s resource base. All in all, the broker believes Core Lithium is well-placed to generate bumper free cash flow in FY 2024 and FY 2025. The Core Lithium share price is trading at $1.09 on Monday afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Why Core Lithium, MMA, Northern Star, and Warrego Energy are charging higher
• Why is the Core Lithium share price having such a stellar start to the week?
• ASX lithium shares have just been crunched. Time to buy?
• 5 things to watch on the ASX 200 on Monday
• Can Core Lithium shares really live up to the hype surrounding them?

Motley Fool contributor James Mickleboro has positions in Allkem. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a small decline. At the time of writing, the benchmark index is down 0.1% to 7,141.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Appen Ltd (ASX: APX)

The Appen share price is down 3.5% to $2.41. Investors have been selling Appen and many other ASX tech shares on Monday following a poor night for the Nasdaq index on Friday. Investors were selling tech shares amid global recession concerns.

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price is down over 6% to 48.2 cents. This appears to have been driven by profit taking after some stellar gains in recent sessions. For example, even after today’s decline, the rare earths explorer’s shares are up a sizeable 24% since 8 December. They are now also up 110% since the start of the year.

Aurizon Holdings Ltd (ASX: AZJ)

The Aurizon share price is down 2.5% to $3.78. The catalyst for this is likely to have been a broker note out of Morgans this morning. According to the note, the broker has downgraded the rail freight operator’s shares to a hold rating and cut the price target on them to $4.00. Morgans was a touch disappointed with the price Aurizon received for the East Coal Rail business.

Star Entertainment Group Ltd (ASX: SGR)

The Star share price is down 11% to $2.29. Investors have been selling this casino operator’s shares amid concerns over potential reforms to the New South Wales casino tax regime. New South Wales Treasurer, The Honourable Matt Kean MP, is proposing gaming tax increases for the two casinos in New South Wales. These are anticipated to commence on 1 July 2023 and forecast to raise an additional $364 million in taxes over the next three years.

The post Why Appen, Arafura, Aurizon, and Star shares are sinking today appeared first on The Motley Fool Australia.

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More reading

• Star Casino share price tumbles 11% on proposed new gambling tax
• Here are the top 10 ASX 200 shares today
• Why are ASX 200 tech shares being fried on Friday?
• 3 ASX All Ordinaries shares smashing the market on Friday
• Why Aurizon, Norwest, Rio Tinto, and Strike Energy shares are rising today

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 recommended Aurizon. 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 Star Entertainment Group Ltd (ASX: SGT) share price is sinking today amid a NSW Government proposal to increase taxes on casinos.

Star Casino shares are currently falling 11% and are trading at $2.285. For perspective, the S&P/ASX 200 Index (ASX: XJO) is 0.26% in the red at the moment.

So what is this new tax and how is Star Casino reacting?

New gambling tax

Star Casino shares are descending today amid a proposed plan from the NSW Government to reform casino tax rates.

Star has responded to a media release from NSW Treasurer Matt Kean on Saturday where he announced a proposal to lift tax rates on gaming tables and poker machines at casinos from 1 July 2023. This plan is expected to raise $364 million over the next three years for the government.

Star said it is seeking to “urgently engage” with the NSW Government on the “sustainability” of the potential tax changes and the impact on the company. Managing director Robbie Cooke said:

We are not sure how the Government modelled its financials nor the basis for suggesting The Star does not pay its fair share of taxes.

Specifically, in addition to state gaming taxes, The Star also pays millions in corporate taxes, with total taxes paid as a percentage of The Star’s profits being around 70%, and as high as 80% in the last 5 years when all the tax regimes are considered.

Star highlighted it is seeking to fast-track cashless gambling and carded play to “deliver safer gambling”.

Minister Kean said the proposed changes would ensure casinos continue to make an “appropriate contribution” to the community. He added:

It’s important that casinos pay their fair share of tax. These reformed tax rates will replace the existing regime under which casinos pay less tax on poker machines than hotels and clubs.

Star Casino share price snapshot

The share price has fallen 35% in the last year. In the past month, Star Casino shares have slipped 21.75%.

fool_stock_chart ticker=ASX:SGT

Star Casino has a market capitalisation of about $2.2 billion based on the current share price.

The post Star Casino share price tumbles 11% on proposed new gambling tax appeared first on The Motley Fool Australia.

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More reading

• Why Appen, Arafura, Aurizon, and Star shares are sinking today
• Seeing stars: ASX 200 casino operator hit with another blow
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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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. The benchmark index is currently down a few points to 7,144.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up almost 4% to $1.10. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded Core Lithium’s shares to an outperform rating with a $1.30 price target. It made the move partly on valuation grounds after the lithium developer’s shares crashed over 40% since mid-November.

MMA Offshore Ltd (ASX: MRM)

The MMA Offshore share price is up almost 16% to 92.5 cents. Investors have been buying this marine service provider’s shares following the release of a trading update. MMA revealed that it expects to deliver first half EBITDA in the range of $30 million to $32 million. This will be up approximately 70% on the second half of FY 2022.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 5% to $11.22. Northern Star and other gold miners are rising today after the gold price pushed higher on Friday night. This has led to the S&P/ASX All Ordinaries Gold index rising 2.3% this afternoon.

Warrego Energy Ltd (ASX: WGO)

The Warrego Energy share price is up 10% to 33 cents. This morning, Strike Energy Ltd (ASX: STX) revealed that it plans to make a takeover offer for the energy explorer. It is offering 1 share for every Warrego share it does not already own. Based on Strike’s last close price, this equated to an offer of 33.5 cents per share. All eyes will be on Gina Rinehart’s Hancock Energy business to see if it increases its 28 cents per share offer.

The post Why Core Lithium, MMA, Northern Star, and Warrego Energy are charging higher appeared first on The Motley Fool Australia.

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More reading

• Why is the Core Lithium share price having such a stellar start to the week?
• 5 things to watch on the ASX 200 on Monday
• Can Core Lithium shares really live up to the hype surrounding them?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the Core Lithium share price gaining on Friday?

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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