The Motley Fool

Why the Iluka share price is cratering this week

The Iluka Resources Limited (ASX: ILU) share price fell 7% or 70 cents to $9.29 today after losing 9% yesterday on the back of a trading update for the six months to June 20 2019 that shocked investors.

Yesterday the company reported that total mineral sands production was down 20.2% on the prior corresponding half year period, with synthetic rutile mineral sands down 24.2%. The fall was partly due to the decommissioning of a mine in Sierra Leone and lower than expected production at the Lanti mine in the west African country.

The lower production translated into a 24.2% sales drop which has disappointed investors who had bid the stock up around 25% over just the course of calendar year 2019 prior to the update.

The mineral sands miner has a net cash position of $2 million and net debt of $142 million when including a $79 million final dividend payment. 

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more

 

Motley Fool contributor Tom Richardson 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!