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If you’re looking for some exposure to the resources sector, then the team at Morgans has got your back.

Listed below are two of the best ASX resources shares to buy now according to its analysts. Here’s what it is saying:

Santos Ltd (ASX: STO)

Morgans is bullish on this energy producer and currently has an add rating and $9.00 price target on its shares. Based on the current Santos share price, this implies potential upside of 27% over the next 12 months.

The broker sees Santos as a great option in the energy space due to its diversified earnings and robust growth profile. It explained:

The resilience of STO’s growth profile and diversified earnings base see it well placed to outperform against a backdrop of a broader sector recovery. While pre-FEED, we see Dorado as likely to provide attractive growth for STO, while its recent acquisition increasing its stake in Darwin LNG has increased our confidence in Barossa’s development.

South32 Ltd (ASX: S32)

Its analysts also believe that South32 is one of the best options in the resources sector. Morgans currently has an add rating and $5.40 price target on the diversified mining company’s shares. Based on the current South32 share price, this suggests potential upside of 29% for investors.

Morgans is positive on South32 due to the successful transformation of its portfolio and its positive long term outlook. It advised:

S32 has transformed its portfolio by divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32’s risk and ESG profile. Unlike its peers amongst ASX-listed large-cap miners, S32 is not exposed to iron ore. Instead offering a highly diversified portfolio of base metals and metallurgical coal (with most of these metals enjoying solid price strength). We see attractive long-term value potential in S32 from de-risking of its growth portfolio, the potential for further portfolio changes, and an earnings-linked dividend policy.

The post Morgans says these ASX 200 resources shares have almost 30% upside appeared first on The Motley Fool Australia.

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More reading

• Oil price slides again. How are ASX 200 energy shares holding up?
• 5 things to watch on the ASX 200 on Thursday
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Santos share price falls despite some big news for shareholders
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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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A number of ASX shares are now trading with low price-to-earnings (P/E) ratios, or they’ve suffered a heavy sell-off. They could be counted as cheap ASX shares.

I think they could be opportunities to make strong returns in the long run.

Not every company has dropped during this period of higher interest rates and strong inflation. Just look at the Commonwealth Bank of Australia (ASX: CBA) share price and how that has held up over 2022.

But, CBA is a huge business. How much more growth can the bank achieve?

According to the Moneysmart compound interest calculator, investing $1,500 per month and earning the long-term historical market average return of 10% per annum can grow into just over $1 million in 20 years.

I think smaller ASX shares, which seem cheap, could be an effective way to invest in the current environment and potentially enable better returns, making a possible million come quicker, though it would still take time.

However, nothing is certain in the share market, and returns can be more volatile with smaller names.

Here are 10 cheap ASX shares I believe could be opportunities:

Adairs Ltd (ASX: ADH)

This furniture and homewares retailer has seen a big sell-off, with the Adairs share price down by 45% in 2022.

It’s planning to grow profit by opening more stores, relocating existing store locations to shops with bigger floor spaces, growing its membership base, selling Mocka furniture in stores and increasing its online sales.

Commsec numbers imply the cheap ASX share is valued at just 8x FY23’s estimated earnings with a grossed-up dividend yield of 11.7%.

Accent Group Ltd (ASX: AX1)

Accent is one of the largest shoe retailers in Australia. It owns shoe store brands like The Athlete’s Foot and Glue Store, while acting as the distributor for other brands like Skechers and Vans.

The retail business is planning to grow its store network, improve margins and potentially add more brands.

After a 27% fall of the Accent share price in 2022, it’s now valued at 14x FY23’s estimated earnings with a grossed-up dividend yield of 8%, according to Commsec.

Corporate Travel Management Ltd (ASX: CTD)

This business is one of the largest ASX travel shares, it’s also one of the world’s biggest corporate travel operators.

With COVID effects fading away, there is a strong rebound in demand for travel. Corporate Travel Management worked during COVID to become more profitable when the normal travel conditions could return. When the cheap ASX share is back to a full recovery, the business expects to demonstrate at least a 30% improvement in earnings per share (EPS) compared to FY19.

According to Commsec, the Corporate Travel Management share price is valued at just 13x FY24’s estimated earnings with a potential grossed-up dividend yield of 5.3%.

Evolution Mining Ltd (ASX: EVN)

Evolution Mining is one of the largest gold miners on the ASX, though the Evolution Mining share price is 26% lower than it was a year ago.

Amid a collapse of cryptocurrency prices and uncertainty with the companies involved in the industry, the gold price has jumped over the last month. This could help the miner’s earnings in the medium term.

It’s priced at 12x FY24’s estimated earnings with a potential FY24 grossed-up dividend yield of 4%.

Betashares Global Cybersecurity ETF (ASX: HACK)

This exchange-traded fund (ETF) gives investors exposure to a portfolio of companies involved in cybersecurity.

There is an increasing amount of data, information and retailing online, so it’s integral for organisations to stay protected, and this could be a strong tailwind for the underlying businesses. Each successful cyber attack could encourage every company in that industry to tighten up its defences. For example, Optus was recently the target of an attack.

The global cybersecurity market is expected to grow from $223.7 billion in 2022 to $478.7 billion in 2030, according to Statista and Strategic Market Research.

The Betashares Global Cybersecurity ETF unit price is 25% cheaper than it was at the start of the year.

Mineral Resources Limited (ASX: MIN)

Mineral Resources has sometimes been called the cheapest ASX lithium share. It has mining services, iron ore, and lithium operations.

It’s working on increasing its production capacity for both iron ore and lithium, which could improve its profitability. The business is also looking at becoming involved with more of the lithium value chain.

According to Commsec, it’s valued at 7x FY24’s estimated earnings with a projected grossed-up dividend yield of 7%.

Shaver Shop Group Ltd (ASX: SSG)

This company sells premium products in DIY grooming, personal care, and hair and beauty appliances for men and women. Exclusive products make up more than half of sales and 60% of gross profit.

According to Shaver Shop, the Australia-New Zealand beauty and personal care market is expected to grow from approximately $10 billion to around $12 billion by 2026. It’s hoping to grow its number of stores and increase online sales over time.

Commsec numbers suggest the Shaver share price is valued at under 9x FY23’s estimated earnings with a projected grossed-up dividend yield of 13%.

Temple & Webster Group Ltd (ASX: TPW)

This company is a leader in retailing furniture and homewares. Both third-party suppliers and private brand products are sold through the website. A drop ship model by the suppliers means quicker delivery, and the cheap ASX share doesn’t need to hold as much inventory.

It’s investing in technology and efficiencies so that it can provide a better online shopping service for customers. For example, an augmented reality service allows shoppers to ‘see’ the product in their room. Management thinks the company will return to double-digit revenue growth during FY23.

In my opinion, it looks a lot cheaper after a 58% fall in the Temple & Webster share price in 2022.

Universal Store Holdings Ltd (ASX: UNI)

This business operates the Universal Store and THRILLS brands that are focused on younger shoppers.

The first 21 weeks of FY23 have seen total Universal Store sales climb by 40.2%. It’s planning to continue to open new stores, while also benefiting from a gross profit margin improvement. The cheap ASX share will continue to invest in the productivity and technology of its business too.

According to Commsec, the Universal Store share price is valued at under 12x FY23’s estimated earnings with a projected grossed-up dividend yield of almost 8%.

Webjet Limited (ASX: WEB)

Webjet is a leading ASX travel share. Not only does it have its online travel agency business, but it also has its business-to-business segment called WebBeds.

As travel rebounds, the company is hoping to reach a much higher earnings before interest, tax, depreciation and amortisation (EBITDA) margin compared to pre-COVID times. It has invested in technology to become more efficient.

The Webjet share price is now valued at 20x FY24’s estimated earnings, according to Commsec.

The post I’d aim for $1 million, buying just 10 cheap ASX shares appeared first on The Motley Fool Australia.

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More reading

• ‘Really exciting’: Experts name 2 ASX mining shares ready to take off
• Here are the top 10 ASX 200 shares today
• Why Air New Zealand, Chalice, Evolution, and Origin shares are rising today
• ‘Lithium investment is really just beginning’: KPMG
• Gold and TV: Check out the 2 ASX shares this expert just bought

Motley Fool contributor Tristan Harrison 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 Adairs, BetaShares Global Cybersecurity ETF, and Temple & Webster Group. The Motley Fool Australia has positions in and has recommended Adairs and BetaShares Global Cybersecurity ETF. The Motley Fool Australia has recommended Accent Group, Corporate Travel Management, Temple & Webster Group, and Webjet. 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 Winsome Resources Ltd (ASX: WR1) share price closed at an all-time high of $1.50 yesterday.

The ASX lithium share has exploded over the past two months, rising 320% from 35.5 cents on 10 October.

What’s up with Winsome (besides the share price)?

Winsome Resources is a lithium explorer working in the James Bay region of Quebec in Canada.

The latest news from the company came last Friday when it announced an acquisition.

As my Fool colleague Monica reports, Winsome is buying a stake in Canadian company Power Metals Corp (TSX-V: PWM), which owns the “highly prospective” Case Lake Project in Ontario, Canada.

The CA$2 million (A$2.211 million) deal entails Winsome purchasing Power Metals shares that are currently owned by Hong Kong-based company, Sinomine Rare Metals Resources Co Ltd.

Sinomine Rare Metals is a subsidiary of the Chinese company Sinomine Resource Group Co Ltd (SHE: 002738). Recent changes to Canadian law mean Sinomine has to sell.

Winsome also gets all of Sinomine’s offtake rights.

Winsome says the project contains high-grade deposits of lithium, tantalum, and cesium. All three are on the latest critical minerals lists of the United States and Canada.

The best-performing ASX lithium share last month

Winsome’s shares soared by 134% in November, outperforming every other ASX mining share.

In mid-November, Winsome announced a $6.8 million capital raising to expand its exploration
programs at the Cancet and Adina lithium projects.

This followed drilling results at Cancet that “exceeded expectations” and “exceptional high-grade lithium assay results” at Adina.

The company lodged a new investor presentation with the ASX on 4 November.

In its quarterly cash flow and activities report released on 27 October, Winsome reported it has spent $6 million of the $18 million in funds allocated under its prospectus as of 30 September.

The ASX lithium share debuted on the ASX on 30 November last year. Its initial public offering (IPO) price was 20 cents. That means the stock has rocketed 650% in its first 12 months on the ASX.

The post Winsome, win some more! The ASX lithium share up 320% in 2 months appeared first on The Motley Fool Australia.

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More reading

• 2 ASX lithium shares smashing all-time highs on Monday
• The ASX 200 gained 6% in November. Here’s how these 3 ASX mining shares smashed those returns
• 3 ASX mining shares that soared more than 20% today
• Why has ASX lithium share Winsome Resources rocketed 220% in a month?
• Up 140% in a month, why has ASX lithium share Winsome Resources just been halted?

Motley Fool contributor Bronwyn Allen 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 a pretty terrible year for other sectors, ASX mining shares really have carried the overall market.

But now that so many resources stocks have elevated prices, investors need to be selective about which of these notoriously cyclical equities to buy going into 2023.

Two minerals that many experts still seem to be bullish on are lithium and gold.

Lithium is a valuable ingredient of high-powered batteries, which are essential for a carbon-neutral future.

And gold is valued as a safe haven investment asset as well as for its use as electrical connectors in computers.

Wilson Asset Management analysts this week mentioned two ASX mining shares involved in exactly those resources that they would buy right now: 

Keep an eye on these lithium deposits

Equities dealer Will Thompson is a big fan of Global Lithium Resources Ltd (ASX: GL1) at the moment.

“I previously said that we’d rather be exposed to the producers in this high-price environment,” he said in a WAM video.

“However, we really like the assets that they’ve got.”

He added that it’s a bonus that a big producer and “a great capital allocator” like Mineral Resources Limited (ASX: MIN) is a major shareholder in Global Lithium.

“We’re really excited to see the results they’re going to have in the back half of this year into next year,” said Thompson.

“They’ll have a resource update and some drilling updates, so it’s a buy.”

Global Lithium shares have roughly doubled in value since the start of the year.

‘One of the most significant discoveries in recent times’

Senior equities dealer Cooper Rogers likes the look of gold digger Predictive Discovery Ltd (ASX: PDI).

“PDI is a gold company based in West Africa,” he said.

“It has stumbled on one of the most significant discoveries in recent times over there. It’s got a 4.2 million ounce resource of gold.”

Predictive Discovery is not resting on its laurels though, as it continues to drill.

“It’s hit gold intercepts 225m and 375m below its current optimised pitch shell, meaning this deposit could keep going down a lot further,” said Rogers.

“We think it’s really exciting.”

Rogers is a fan of the management running the ASX mining share.

“It’s got $50 million in the bank and it’s going to continue aggressively drilling while carrying out its scoping activities,” he said.

“So PDI’s a buy for us.”

The Predictive share price is down 22% for the year but has rocketed 40% up since the end of October.

The post ‘Really exciting’: Experts name 2 ASX mining shares ready to take off appeared first on The Motley Fool Australia.

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More reading

• ‘Lithium investment is really just beginning’: KPMG
• Gold and lithium: Mining expert names 2 ASX shares that could explode
• This ASX lithium share is 10% owned by Mineral Resources. Is it a buy?
• Can ASX 200 lithium shares come charging back in December?
• 2 ASX lithium shares smashing all-time highs on Monday

Motley Fool contributor Tony Yoo 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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With so many dividend shares to choose from, it can be hard to decide which ones to buy.

The good news is that analysts have been busy running the rule over the share market, looking for the dividend shares to buy.

Two that could boost your passive income are listed below. Here’s what you need to know about them:

National Storage REIT (ASX: NSR)

National Storage is the owner and operator of one of Australia and New Zealand’s largest self-storage networks. It could be a top option due to its robust business model, defensive qualities, and solid growth prospects from to its growth through acquisition strategy.

Based on the current National Storage share price of $2.34, analysts at Jarden are expecting the company’s shares to offer investors ~4% distribution yields over the next couple of years. The broker also sees upside for the National Storage share price with its buy rating and $2.90 price target.

Rural Funds Group (ASX: RFF)

Rural Funds could be another top option for income investors. It is an agriculture-focused real estate property trust that owns a diverse portfolio of properties across different geographies and sectors.

With Australia quickly becoming the food bowl of Asia, it appears well-positioned to benefit over the long-term. Another positive is that its properties boast long-term tenancy agreements with major players and include periodic rental increases.

Bell Potter is a fan of the company and notes that its shares are trading at what could “be considered an attractive entry point.” It has a buy rating and $2.75 price target on its shares.

As for dividends, Bell Potter is forecasting an 11.7 cents per share dividend in FY 2023 and then a 12.7 cents per share dividend in FY 2024. Based on the current Rural Funds share price of $2.44, this represents yields of 4.8% and 5.2%, respectively.

The post Boost your passive income with these ASX dividend shares: analysts appeared first on The Motley Fool Australia.

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More reading

• 2 ASX dividend shares that have raised their payouts by 20% in 5 years
• 2 safe and reliable ASX dividend shares to buy for 2023: analysts
• Here’s how I’d invest $5,000 in ASX dividend shares to earn a second income
• Why I’m buying ASX shares in this once-in-a-lifetime market to try and retire early
• Here are the top 10 ASX 200 shares 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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Rural Funds 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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When you’re focused on researching, buying and selling ASX shares, it’s easy to forget that there’s a whole vast world outside of this big brown land.

For example, just the United States of America has 330 million people. That means there could be 13 Australias and there would still be more Americans on the globe!

So it’s an exciting prospect when a local business starts expanding overseas.

Sure, there are many risks. But if the product or service was compelling enough to get Australians to spend, there is no reason why those ASX companies can’t do the same in a bigger pond.

Recently analysts at Wilson Asset Management named two ASX shares to buy that might just take off with international growth:

Revenue will impress in 2023

Wilson senior equities dealer Cooper Rogers rates Johns Lyng Group Ltd (ASX: JLG) as a buy at the moment.

The business takes on repair work commissioned by insurance companies. That industry has seen an increase in claims in recent times arising from extreme weather events.

“While we never like to celebrate catastrophic events, it’s definitely an opportunity for Johns Lyng Group,” he said in a WAM video.

“They recently acquired Reconstruction Experts in the US.”

The American arm will be operated out of Florida, and Rogers reckons the expansion “is a great opportunity”.

“It’s also no secret that cat [catastrophic] events are also contributing to the revenue line for JLG in Australia,” he said.

“We think the cat revenue is going to impress in FY2023.”

Investment in the US expansion will be required in the current financial year, but Rogers expects revenues from that division will start flowing in during FY2024.

“So JLG is a buy for us.”

The Johns Lyng share price is down more than 21% year to date.

Kiwi takes flight

Tourism Holdings Ltd (ASX: THL) is a New Zealand company that only this month listed on the ASX after a merger with Apollo Tourism & Leisure Ltd (ASX: ATL).

Wilson senior equity analyst Shaun Weick urged investors to “get out there and get amongst it”.

“Tourism Holdings is a buy for us,” he said.

“They’re the largest RV [recreational vehicle] operator across Australia and New Zealand following the recent regulatory approval of the merger.”

Despite rising interest rates, Weick’s team reckons both domestic and international tourism demand will remain strong over the next 12 or 18 months.

“You look at the combination of the softer Australian dollar and the ongoing shift we believe will occur from goods towards services, we think this business can generate over $80 million profit after tax.”

And what’s more, the share price seems to be a bargain.

“It’s trading on a sub-10 times PE,” said Weick.

“The balance sheet‘s in great shape, great management team. We see expansion into North America as a medium-term opportunity for these guys.” 

The post 2 ASX companies about to explode in the US market: experts appeared first on The Motley Fool Australia.

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More reading

• Global warming play: Expert reveals the ASX share he’d stash for next 4 years
• 5 popular ASX 200 stocks I’m avoiding, plus one that still looks dirt cheap

Motley Fool contributor Tony Yoo has positions in Johns Lyng Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Johns Lyng Group. The Motley Fool Australia has recommended Johns Lyng 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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Ask A Fund Manager

The Motley Fool chats with the best in the industry so that you can get an insight into how the professionals think. In this edition, Tribeca Investment Partners portfolio manager Simon Brown picks the stock that would let him sleep soundly for years to come.

The ASX share for a comfortable night’s sleep

The Motley Fool: If the market closed tomorrow for four years, which stock would you want to hold?

Simon Brown: Always a curly one, isn’t it? 

I’m just having a look at the portfolio. I’d be comfortable with a lot of them. 

Look, I would say Johns Lyng Group Ltd (ASX: JLG). Have you heard of them?

MF: Yes, I own those shares.

SB: That’s a business that’s got that growth premium because it has been growing very strongly. But a name like that, I think that the runway for growth is quite long and there will be periods of multiple expansion and contraction, as those discount rates go up and down with the level of interest rates. 

Arguably, interest rates may have seen their lows for some time — 12, 18 months ago. We exist in a higher rate environment than we were 18 months ago. But I think that a business such as this has such a strong level of underlying growth, particularly now they’ve got exposure in the US. It is just such a huge market.

They’ve got a flag in the ground over there, so to speak. The ability for them to keep expanding and use the type of strategy that they’ve used here in Australia, to be successful over there. It just makes 100% sense to continue to expand and partner with insurance companies and, essentially, replicate the model that they’ve had here over there. 

So I think that’s a business that you could be very comfortable in a four-year growth outlook. And earnings would be much higher in four years’ time than we currently sit today.

MF: Some say it’s a climate change play because they get much business from big natural disasters, don’t they?

SB: Cat — catastrophes — they call them.

Yeah. If you talk to some people in the insurance industry, they’re of the view that these catastrophes are, due to climate change, going to be a little bit more recurrent than they have been in the past. Which should mean that there’s more reconstruction work required from people such as Johns Lyng.

The post Global warming play: Expert reveals the ASX share he’d stash for next 4 years appeared first on The Motley Fool Australia.

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More reading

• 5 popular ASX 200 stocks I’m avoiding, plus one that still looks dirt cheap

Motley Fool contributor Tony Yoo has positions in Johns Lyng Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Johns Lyng Group. The Motley Fool Australia has recommended Johns Lyng 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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On Thursday, the S&P/ASX 200 Index (ASX: XJO) had another tough day and dropped deep into the red. The benchmark index fell 0.75% to 7,175.5 points.

Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note after a decent session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 19 points or 0.25% higher this morning. In late trade in the United States, the Dow Jones is up 0.35%, the S&P 500 has risen 0.6%, and the Nasdaq is up 0.95%.

Oil prices down

Energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued finish to the week after oil prices dropped again. According to Bloomberg, the WTI crude oil price is down 0.35% to US$71.74 a barrel and the Brent crude oil price is down 0.85% to US$76.56 a barrel. Demand concerns continue to weigh on prices.

BHP shares downgraded

The BHP Group Ltd (ASX: BHP) share price could be fully valued now according to analysts at Morgans. This morning the broker has downgraded the mining giant’s shares to a hold rating with a $44.80 price target. It commented: “While hopeful of a China growth recovery, which would be positive for steel/iron ore demand, we are less comfortable with the equity market already moving to price in the recovery before it unfolds.” Rio Tinto Ltd (ASX: RIO) shares were also downgraded for the same reason.

Gold price rises

Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a positive finish to the week after the gold price rose overnight. According to CNBC, the spot gold price is up 0.2% to US$1,800.8 an ounce. Traders were buying gold after the US dollar weakened.

Technology One rated neutral

The TechnologyOne Ltd (ASX: TNE) share price could also be fully valued according to Goldman Sachs. This morning the broker reiterated its neutral rating with an improved price target of $14.45. It said: “We are attracted to TNE’s potential earnings upside in coming years (price increases, cross-sell execution, UK growth, margin expansion) and defensive public sector end markets, but see valuation as relatively full at current levels.”

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• 3 high-yielding ASX dividend shares that have surged more than 50% this year
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Oil price slides again. How are ASX 200 energy shares holding up?
• The Newcrest share price has rocketed 35% since late September. What’s going on?

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 recommended Technology One. 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 AVZ Minerals Ltd (ASX: AVZ) share price has been frozen since May amid a legal dispute that is holding up mining at its lithium and tin project in Africa.

The lithium developer first requested a trading halt in relation to a legal wrangle on 9 May.

The dispute is delaying the finalisation of the mining and exploration rights for the Manono Lithium and Tin Project in the Democratic Republic of the Congo (DRC).

As my Fool colleague James reported in May, the issue centres around AVZ’s ownership of the project.

Briefly, the Manono Lithium and Tin Project is owned by a company called Dathcom Mining SA.

AVZ Minerals owns 75% and Dathomir Mining Resources SARL, otherwise known as La Congolaise D’Exploitation Miniere SA (Cominiere), owns 25%.

Part of the deal for gaining a mining licence was Dathomir ceding 10% of its interest to the DRC Government.

AVZ believed it had first right of refusal to buy the remaining 15% owned by Dathomir, in accordance with binding contracts signed by both parties in 2019 and 2020.

However, in May 2021, Dathomir sent a letter to AVZ Minerals terminating the agreement. AVZ Minerals maintains this was unlawful.

In August, AVZ Minerals executed their rights under the agreement to purchase the 15% stake and made payment for it.

Dathomir is purported to have transferred its remaining 15% interest to China’s Jin Cheng Mining Company Limited. Jin Cheng is a subsidiary of Zijin Mining Group Company Limited (HKG: ZJM0W).

AVZ is now fighting to claim ownership of that 15%.

What’s happening with the AVZ share price today?

In short, absolutely nothing. The saga simply continues but AVZ Minerals has made a statement today.

AVZ has informed ASX investors that on 1 December, it filed the first of two arbitrations against Dathomir with the International Chamber of Commerce (ICC).

In its statement, AVZ Minerals said:

The purpose of the Dathomir Arbitrations is to seek a declaration affirming [AVZ’s] legal title to the 15% stake in the Manono Project …

AVZ is already in the midst of separate ICC arbitration proceedings brought by Jin Cheng.

Jin Cheng wants the ICC to recognise that it is now the owner of the 15% stake in Dathcom.

AVZ Minerals said:

The Company considers it has strong prospects of success in the Dathomir Arbitrations and Jin Cheng
ICC Arbitration Proceedings and will vigorously pursue its claims to vindication.

What now for AVZ Minerals shareholders?

It continues to be a waiting game for AVZ Minerals shareholders.

However, those invested in the company for the long haul are probably looking on the bright side.

As my Fool colleague Brooke recently reported, AVZ Minerals is one of three ASX mining shares that have turned a $10,000 investment made 10 years ago into $500,000 today.

The AVZ Minerals share price is up a grand total of 7,700% over the past decade.

The post AVZ Minerals share price remains halted amid fresh legal action appeared first on The Motley Fool Australia.

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More reading

• Here’s the lithium price forecast through to 2025
• AVZ Minerals trading halt extended again. What is going on?

Motley Fool contributor Bronwyn Allen 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 Index (ASX: XJO) had another shocker today, notching up its third loss in a row for the week. The index finished up at 7,175.5 points, down 0.75% for the day. Since Monday, the ASX 200 has already lost a nasty 2%.

These losses were led by ASX 200 energy shares. The S&P/ASX 200 Energy Index (ASX: XEJ) ended up falling by a nasty 2.42%, led by Woodside Energy Group Ltd (ASX: WDS) falling by almost 3.7%. Leading coal miner Whitehaven Coal Ltd (ASX: WHC) was down by 2.59%.  

This was induced by sharp falls in energy and commodity prices. Oil is now back under US$80 a barrel, with WTI crude down 3.48% to US$74.25 a barrel on the latest numbers.

Meanwhile, the best-performing sector today was utilities, with the S&P/ASX 200 Utilities Index (ASX: XUJ) rising 0.97%. In total, only three of the ASX 200’s 11 sectors were in the green today.

Countdown to the top 10 ASX 200 shares on Thursday

Our top-performing ASX 200 share today was Chalice Mining Ltd (ASX: CHN), which finished the session up a healthy 13.11% at $6.30 a share. This came after the miner indicated that it has uncovered some new copper and nickel reserves at its Julimar Project in Western Australia.

Here are the top ten shares from this Thursday’s trading session:

ASX-listed company	Share price	Price change
Chalice Mining Ltd (ASX: CHN)	$6.30	13.11%
West African Resources Ltd (ASX: WAF)	$1.13	4.65%
Silver Lake Resources Limited (ASX: SLR)	$1.34	3.88%
Ramelius Resources Limited (ASX: RMS)	$0.99	3.68%
Evolution Mining Ltd (ASX: EVN)	$2.90	3.57%
St Barbara Ltd (ASX: SBM)	$0.64	3.23%
Charter Hall Group (ASX: CHC)	$12.77	2.98%
Imugene Limited (ASX: IMU)	$0.19	2.78%
TechnologyOne Ltd (ASX: TNE)	$13.79	2.53%
Nufarm Ltd (ASX: NUF)	$6.35	2.42%

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Air New Zealand, Chalice, Evolution, and Origin shares are rising today
• It’s not all bad news on the ASX All Ordinaries today. Here are 3 big winners
• 3 ASX gold shares rocketing higher on Thursday
• Chalice Mining share price surges 11% on new copper and nickel find

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 recommended Technology One. 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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