What did Vulcan announce?

Vulcan released an updated and reclassified resource estimate for its Taro asset. The new estimate indicated that the Taro asset includes .83 million tonnes of lithium carbonate equivalent (LCE) at a grade of 181 milligrams per litre of lithium. This was based on the acquisition and interpretation of seismic and well data. 

The company also announced:

• Taro inferred resource estimate revised upward to 1.44 million tonnes of contained LCE at a grade of 181 milligrams per litre of lithium
• Upper Rhine Valley project now estimated to contain 16.19 million tonnes LCE indicated and inferred with a grade of 181 milligrams per litre of lithium

The company will also include the higher resource estimates into its pre-feasibility study for the Upper Rhine Valley project. Vulcan aims to produce lithium hydroxide for electric cars with the lowest carbon dioxide equivalent footprint in the world from this "zero carbon lithium" project. 

About the Vulcan share price

Vulcan Energy Resources is a lithium development company with assets in Germany. Vulcan has been listed on the ASX since 2018.

In the quarter to 30 September 2020, Vulcan Energy Resources spent $2.23 million on exploration and evaluation. The company had cash of $5.11 million at the end of the September quarter.

In September, former Tesla Inc (NADAQ: TSLA) director Jochen Rudat joined Vulcan as a sales and marketing consultant. Mr Rudat previously reported directly to Tesla CEO Elon Musk. 

The Vulcan share price is up 1316.67% since its 52-week low of 12 cents, and 962.50% higher than the beginning of the year. The company's shares are up 1207.69% since this time last year. 

The post Why the Vulcan (ASX:VUL) share price hit a record high today appeared first on The Motley Fool Australia.

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Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. 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.

The Bailador Technology Investments Ltd (ASX: BTI) share price shot up this morning, climbing 12.38% to $1.18 before falling back to $1.12 at the time of writing. This came after the company released an update about its investment in Straker Translations Ltd (ASX: STG).

What did Bailador announce?

Bailador updated the market on the flow-on effect of Straker's agreement yesterday to become a strategic translations service provider for global tech giant IBM (NYSE: IBM). The deal with IBM resulted in a significant increase in the Straker share price.

According to Bailador, the value of its investment in Straker has increased in value by 61% since its last valuation on 31 October 2020. This has boosted Bailador's net tangible assets (NTA) by 3.2% compared to its report on 10 November 2020. At that time, Bailador had a pre-tax NTA of $1.37.

The Straker share price has increased slightly today, trading up 0.63% at $1.60, which may have a further positive effect on Bailador's NTA.

About the Bailador share price

Bailador is an investment company that invests in the information technology sector. It has been listed on the ASX since 2014. 

In FY2020, Bailador posted a loss after tax of $4.12 million, compared to a profit after tax of $17.05 million in FY2019. The company saw a 1% net decrease in the value of its portfolio of assets in FY2020.

Bailador paid a special dividend of 2.5 cents per share in February 2020.

The Bailador share price is up 132.65% from its 52-week low of 49 cents, and up 1.79% since the beginning of the year. Bailador shares have also increased 16.33% since this time last year.

The post Bailador (ASX:BTI) share price jumps 12% on Straker update appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Straker Translations. 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.

The Synlait Milk Ltd (ASX: SM1) share price came out of a trading halt today, dropping 9.75% to $5.00 before recovering to $5.25 at the time of writing. The drop in Synlait Milk's share price came after an announcement that the company would conduct a capital raising.

How will Synlait Milk raise capital?

Synlait Milk announced yesterday that it will raise approximately NZ$200 million. This will consist of a placement to raise NZ$180 million and an underwritten share purchase plan to raise NZ$20 million.

The placement will be conducted at a share price of NZ$5.10, representing a discount of 14% to the company's trading price before the capital raising was announced. Synlait Milk announced today that the placement was fully subscribed.

The company's share purchase plan will allow existing shareholders to purchase up to NZ$50,000 worth of Synlait Milk shares. The price of the share purchase plan will be the lower of NZ$2.10 per share or the 5-day volume weighted average price of Synlait Milk shares trading on the New Zealand Stock Exchange in the last 5 days of the SPP offer period. The record date for the share purchase plan was 9 November 2020 and an offer booklet will be sent out to shareholders on 13 November 2020.

According to Synlait Milk, the proceeds of the capital raising will be used to start manufacturing new product lines as part of a recent agreement with a global category leader and to strengthen the company's balance sheet.

Synlait Milk guidance for FY21

Synlait Milk also released the following guidance for the 2021 financial year:

• Volumes for consumer packaged infant formulas expected to be lower in FY2021 than FY2020
• Net profit after tax (NPAT) in the first half of FY2021 to be significantly lower than it was in the first half of FY2020
• NPAT for the full 2021 financial year expected to be slightly lower than FY2020

About the Synlait Milk share price

Synlait Milk is a New Zealand dairy processor that produces products for infant nutrition and adult nutrition along with everyday dairy and dairy-based products. Synlait Milk has been listed on the ASX since 2016.

The Synlait Milk share price is up 21.25% since its 52-week low of $4.33, however, it is down 39.10% since the beginning of the year. The Synlait Milk share price is down 38.16% since this time last year.

The post Why the Synlait Milk (ASX:SM1) share price was lower today appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

What did Ausnet announce?

In the 6 months to 30 September 2020, Ausnet had revenue of $1.04 billion, an increase of 1.8% compared to the prior corresponding period (pcp). Higher revenues were driven by increased residential electricity distribution volumes as a result of COVID-19. The company also had higher lease interest income from completed wind farms.

Other features of Ausnet's results for the 6 months to 30 September 2020 included:

• earnings before interest, tax, depreciation and amortisation (EBITDA) of $661.6 million, an increase of 5.7% on pcp
• earnings before interest and tax (EBIT) of $429.7 million, an increase of 8.1% on pcp
• net profit after tax of $225.7 million, up 31.4% on pcp
• $1.5 billion liquidity at 30 September 2020
• dividends of 4.75 cents per share for the half year (40% franked), down 6.9% on the pcp

According to the company, profits were boosted by lower finance costs. At 30 September 2020, Ausnet had an average cost of debt of 4.25% compared to 4.48% in the prior corresponding period. The company held an A-/stable rating from Standard and Poors and an A3/stable rating from Moody's.

Ausnet gave some guidance on its future performance. Dividends for the full year were expected to be 9–9.5 cents, 40% franked. The company forecast that:

• its regulated asset base growth would be around 2–2.5% per annum to FY2024
• it is on track to hold $1.5 billion of contracted energy infrastructure assets by FY2024
• net debt to contracted and regulated asset base should be less than 70% by FY2024

About the Ausnet share price

The Ausnet share price is up more than 37% from its 52-week low of $1.46 and up 11.7% since this time last year. On current prices, Ausnet's price-to-earnings ratio sits at 25.68 and its market capitalisation comes in at $7.5 billion.

The post Ausnet (ASX:AST) share price higher following half year results appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Kleos Space (ASX: KSS) share price has fallen 6.40% at the time of writing to 80 cents after a trading halt of the company's securities was lifted. The company announced a capital raising today, which will consist of a placement to institutional and sophisticated investors. 

The Kleos Space placement

Kleos raised approximately $19 million from institutional and sophisticated investors at a price of 72 cents per share. This was a discount of 16.3% to the previous closing price of 86 cents per share. 

According to the company, the proceeds of the placement will be used for:

• funding the company beyond the launch of its second cluster of satellites to end 2021
• accelerating development of the company's third cluster of satellites
• sales and marketing
• working capital
• funding the costs of the placement

The placement will be conducted in 2 tranches with the first $7.2 million issued in accordance with the ASX listing rules and shareholder approval at a general meeting required for the remaining $11.8 million.

What else has Kleos been up to?

According to Kleos, the company successfully launched its first cluster of 4 satellites on 7 November 2020. The satellites will provide radio frequency data for its customers, allowing them to monitor activity in a number of maritime locations.

The Kleos satellites will detect maritime activity that, according to the company, is otherwise undetectable and includes uses such as defence and national security along with the intercept of criminal activity.

The company expects that the satellites will provide revenue from the first quarter of FY2021, with agreements already in place with the US Airforce, L3Harris Technologies Inc (NYSE: LHX) and multiple government entities. The annual licensing fees for the first cluster of satellites will be between $128,000 and $971,000 per license and the number of initial licenses targeted is around 130. Kleos expects growth in its subscriber base over time.

Kleos plans to launch its second cluster of satellites on the SpaceX Falcon 9 rocket in mid 2021, which it expects will provide an opportunity to generate further revenue.

About the Kleos share price

Kleos shares are up 433% from their 52-week low of 15 cent and up 158.06% since the beginning of the year. The Kleos share price is up 128% since this time last year.

The post Kleos Space (ASX:KSS) share price drops 6% as capital raising announced appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Impedimed Limited (ASX: IPD) share price rocketed by 13.41% today to close the day's trade at 9.3 cents per share. This came after the company announced that its Sozo medical device has been selected by AstraZeneca for use in a phase 2 drug trial.

What did Impedimed announce?

Impedimed is a medical device company that produces a family of FDA-approved devices. It has been listed on the ASX since 2007.

According to Impedimed, pharmaceutical giant AstraZeneca has selected its Sozo device for a phase 2 trial in order to measure fluid volume in patients with chronic kidney disease. The AstraZeneca study will use the Impedimed device to evaluate the efficacy, safety and tolerability of a combination of 2 AstraZeneca drugs.

The trial will begin in January 2021 and run for approximately 18 months. According to Impedimed, the study will generate $2 million in revenue. The total expected revenue from this trial and a previously announced AstraZeneca trial, in which it is also using Sozo, is $4.5 million. 

An additional 200 Sozo devices will be leased across 24 countries for the trial, bringing the total Sozo devices leased for AstraZeneca studies to 375.

Impedimed managing director and CEO Richard Carreon commented: "There are millions of people today living with chronic kidney disease, and we look forward to learning more about the impact this trial will have on improving patient care."

How has Impedimed performed recently?

In the first quarter of FY2021, Impedimed had revenue of $1.5 million, an increase of 11% on the prior corresponding period. Impedimed had $15.4 million cash on hand at 30 September 2020.

The Impedimed share price is up more than 187% since its 52-week low of 3.2 cents, however, it is down 38% since the beginning of the year. The Impedimed share price is down 34% since this time last year.

The post Here's why the Impedimed (ASX:IPD) share price shot up 13% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

What did Village Roadshow announce?

Village Roadshow advised today that due to the re-opening of Warner Bros Movie World and SeaWorld on the Gold Coast, the takeover offer by BGH under structures A and B would be subject to an uplift of 12 cents per share. This had been agreed to and locked in by both parties, the company said. 

If structure A receives 75% of the votes by shareholders, $2.32 cash will be paid for each Village Roadshow share, including the uplift. Shareholders also have the option to take 1 HoldCo share for every Village Roadshow share under structure A.

Structure B will be considered by shareholders if structure A is not approved and allows for the payment of $2.22 per Village Roadshow share, including the uplift. Structure B will also require 75% of the votes from shareholders in favour of the offer to go ahead. Under Structure B shareholders will also be given the option to retain 100% of their Village Roadshow shares, which will be delisted from the ASX. 

Given that Queensland border restrictions remain in place and that there has been a deferral of major film releases, the parties have agreed that the further potential uplifts will not be payable to Village Roadshow shareholders. These were known as the 'border uplift' and the 'cinema uplift'. 

Village Roadshow's independent directors have recommended that the company's shareholders vote in favour of both structure A and structure B as part of the offer by BGH. An independent expert has also recommended that the offer is in the best interests of Village Roadshow shareholders.

About the Village Roadshow share price

Village Roadshow is an entertainment company that operates theme parks and cinemas in addition to its film production and film distribution businesses. Village Roadshow was founded in 1954 and is an iconic Australian company. 

In September, the company announced that Warner Bros would not renew its contract for film distribution by Village Roadshow, which is set to expire on 31 December 2020. Village Roadshow said the arrangement with Warner Bros did not have a material effect on earnings before interest, tax, depreciation and amortisation (EBITDA) after costs in the 2020 financial year.

EBITDA was $82.9 million in FY20, and the company posted a net loss after tax of $117.35 million.

The Village Roadshow share price is up 206.49% since its 52-week low of 77 cents, however, it is down 38.22% since the beginning of the year. The Village Roadshow share price is down 25.55% since this time last year.

The post Why the Village Roadshow (ASX:VRL) share price is on the rise today appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

Today, a suspension on trading of Buddy Technologies Ltd (ASX: BUD) shares was lifted. In early trade, the Buddy share price fell as much as 16.67% to 5 cents before making a partial recovery. At the time of writing, the Buddy share price is trading at 5.4 cents, representing a 10% fall from its last closing price of 6 cents.

Why were Buddy shares suspended?

Shares in Buddy Technologies entered a trading halt on 28 October 2020 before being suspended on 30 October 2020. Buddy Technologies requested a voluntary suspension of trading in its securities prior to the announcement of legal proceedings concerning an equity financing agreement. An announcement was released today about the legal dispute.

What is the legal claim?

According to Buddy Technologies, it previously entered into an equity financing agreement with CST Capital which was terminated prior to being drawn upon. CST Capital later brought legal action against Buddy Technologies with a notice of the action sent to Buddy's registered office, however, due to COVID-19 lockdowns, Buddy Technologies did not receive the notice. As Buddy Technologies did not defend the claim made by CST Capital, the court issued a default notice in favour of CST Capital which required Buddy to pay unspecified damages.

Buddy Technologies stated that its legal team was now working to have the judgement set aside and to defend the claim. According to Buddy Technologies, the claim by CST Capital is misconceived and it does not believe that any damages are owed. 

According to Buddy, its business has continued as normal with existing financing partnerships unaffected by the legal issue outstanding. 

About the Buddy share price

Buddy Technologies provides internet of things (IoT) solutions to its clients. It has been listed on the ASX since 2015. 

Earlier in November, Buddy Technologies announced that the final maturity date on the debt associated with its acquisition of LIFX in 2019 had been extended from 30 October 2020 to 31 December 2020.

In the quarter to 30 September 2020, Buddy Technologies had revenue from customers of $7.7 million, up 43% on the prior quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) were $32,000 in the September quarter, the company's first quarter of positive EBITDA. Cash on hand at 30 September 2020 was $2.6 million. 

The Buddy share price is up 800% since its 52-week low of 0.6 cents and is up 35% since the beginning of the year. The Buddy share price is up 170% since this time last year.

The post Buddy Technologies (ASX:BUD) share price down 10% as suspension lifted appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

Today the Andromeda Metals Ltd (ASX: ADN) share price climbed 18.75% to 19 cents before dropping back to close at 18 cents per share. This gain comes 4 days after the company released a number of announcements to the market.

What did Andromeda Metals announce recently?

During the quarter ended 30 September, the Great White Kaolin joint venture in which Andromeda Metals has a 75% interest revealed the following:

• Maiden reserve of 12.5 million tonnes of kaolinized granite classified as a probable reserve, comprising 15% halloysite and 78% kaolinite.
• Assay results from aircore drilling revealed an extensive area of kaolin consisting of 2.4 kms by 0.5  kms. 
• An inferred resource of 51.5 million tonnes of kaolinized granite

Elsewhere, at the company's Mount Hope kaolin project, a new inferred resource of 18 million tonnes of kaolinised granite was estimated during the last quarter.

Drilling of the Andromeda Metals Drummond Epithermal gold joint venture commenced in late September by Evolution Mining Ltd (ASX: EVN), with results pending.

At the company's Eyre Peninsula gold joint venture, an RC drilling program of up to 6,750 metres recently commenced across a number of targets. 

Additional updates from the most recent quarter September included:

• The company spent $1.22 million on exploration and evaluation
• Andromeda Metals received cash of $2.03 million from the exercise of options 
• Cash on hand was $3.66 million at 30 September 2020

Andromeda Metals also announced that it had appointed financial services firm Taylor Collison to advise it on mergers and acquisitions along with equity capital markets transactions. 

About the Andromeda Metals share price

Andromeda Metals is a minerals exploration company with a focus on halloysite-kaolin, gold and copper. The company has assets in South Australia, Western Australia and Queensland. Andromeda Metals has been listed on the ASX since 1996.

Andromeda Metals shares are up 873.68 % since their 52-week low of 1.9 cents and up 270% since the beginning of the year. The Andromeda Metals share price is up 362.5% since this time last year.

The post Andromeda Metals (ASX:ADN) share price climbs 18% appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Megaport Ltd (ASX: MP1) share price is falling lower today following the company's release of a business update this morning. At the time of writing, the Megaport share price is trading just under 2% lower at $14.22. 

What did Megaport announce?

In the September quarter of 2020, Megaport had quarter-on-quarter (QoQ) recurring revenue growth of 2%. Total recurring revenue for the quarter was $5.8 million.

Other highlights from the September quarter included:

• 5% growth in total installed data centres compared with the previous quarter.
• 9% QoQ growth in cloud on ramps.
• 5% normalised monthly recurring revenue growth from the previous quarter.
• 7% growth in total customers during the quarter.
• 10% growth in total ports during the quarter.
• 9% QoQ growth in total number of services. 

Megaport also announced that it is working to integrate its platform with various networking technologies, including Cisco Systems Inc's (NASDAQ: CSCO) SD-WAN. According to Megaport, this will extend the reach of its platform.

Megaport also stated that its normalised group profit after direct network costs has continued to expand as revenue growth has been larger than growth in direct network costs. The company stated that its normalised profit after direct network costs was 55% in the 2020 financial year.

About the Megaport share price

Megaport is a technology company that offers network as a service through its data centres. It has been listed on the Australian Stock Exchange since 2015.

In the September 2020 quarter, Megaport had revenue of $17.3 million, an increase of 2% QoQ. Megaport had cash on hand of $152.8 million at 30 September 2020.

The Megaport share price is up 132.73% since its 52-week low of $6.11, it has increased 36.6% since the beginning of the year. The Megaport share price is up 70.1% since this time last year.

The post Megaport (ASX:MP1) share price falls lower following business update appeared first on The Motley Fool Australia.

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Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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.

The Element 25 Ltd (ASX: E25) share price made some big moves today, climbing 13.25% to 94 cents before falling back to close at 88.5 cents. This came after the company released an investor update to shareholders at the AGM this morning.

What did Element 25 announce?

The company reported that its Butcherbird manganese project in Western Australia was on track for commissioning in the first quarter of calendar year 2021.

Key features of the Butcherbird asset include:

• More than 260 million tonnes of manganese or measured, indicated and inferred
• Maiden proved and probable reserves of 50.6 million tonnes at 10.3% manganese for 5.22 tonnes of contained manganese
•  Pre feasibility studies based on measured and indicated resources suggest the asset could operate for 42 years
• The location is adjacent to bitumen roads and access to Port Hedland bulk handling facilities
• Described by the company as offering "low cost mining" with "simple processing"

The company advised a mining lease has already been granted with all access agreements finalised. Permit applications were well advanced and the company has secured project financing. 

Element 25 said it aimed to become a globally significant manganese producer, with a goal to generate strong, sustainable investor returns over the long term.

Also of note was a special resolution put forward at the AGM for a 10% placement facility. This would allow the company to conduct placements for up to 10% of its shares in the 12 months following the AGM in addition to the 15% already allowed. The resolution passed with the 75% majority necessary. 

About the Element 25 share price

Element 25 is minerals exploration and development company with assets in Western Australia.  

In the quarter to 30 September 2020, Element 25 spent $2.80 million on operations, mainly on exploration and development. At 30 September 2020, Element 25 had cash of $7.65 million in addition to listed equity investments worth $4.16 million.

The Element 25 share price is up 831.58% since its 52-week low of 9.5 cents, and up 420.59% since the beginning of the year. The Element 25 share price is up 345% since the start of last year.

The post Why the Element 25 share price climbed 13% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Nanosonics Ltd (ASX: NAN) share price has surged 9.38% higher to $5.60 in lunchtime trade. This jump comes after the company released a business update for the first 4 months of the 2021 financial year.

What did Nanosonics announce?

Nanosonics reported that sales of consumables, including its Sonex and NanoNebulant products, were up 4% in the 4 months to 31 October 2020 compared to the prior corresponding period (pcp). Additionally, sales of the same products were up 25% in the 4 months to 31 October 2020 when compared with the last 4 months of the 2020 financial year, during which the major impacts of COVID-19 were experienced.

Further highlights quoted in the report included: 

• In the four months to 31 October 2020, the number of new trophon units installed was 91% of the pcp with North America at 90% and EMEA at 119%
• The number of new trophon units installed in the first four months of FY21 was up 16% compared with the last four months of FY20. During this period, North America was up 14% and EMEA was up 64%.

Nanosonics CEO Matt Kavanagh commented on the outlook for the company, stating;

"Despite ongoing periods of uncertainty we remain optimistic about the future and investments in our growth agenda continue across the business as we look to further expand our geographical footprint and product portfolio."

The company stated that it would release a more detailed business update at its AGM, scheduled for 24 November 2020.

About the Nanosonics share price

Nanosonics is a biotechnology company that specialises in technology for infection control. Nanosonics has been listed on the ASX since 2007.

In the year to 30 June 2020, Nanosonics had revenue of $100.1 million, an increase of 19% compared to FY19. The company had a net profit after tax of $10.1 million in the 2020 financial year, down 26% compared to the 2019 financial year.

The Nanosonics share price is up 38.15% since its 52 week low of $4.01, however, it is down 12.89% since the beginning of the year. Over the past 12 months, the Nanosonics share price has fallen 21.19%, compared to a drop of 10.1% for the S&P/ASX 200 Index (INDEXASX: XJO).

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The Sandfire Resources Ltd (ASX: SFR) share price has dropped 9% this morning to $4.04 before recovering slightly to $4.08 at the time of writing. This came as the copper producer denied media speculation that China is set to ban Australian copper imports.

What did the company say?

Sandfire Resources said it was aware of reports in the international media that China was seeking to impose a ban on imports of Australian copper. Questioning the reliability of the media reports, Sandfire Resources said it was in contact with key customers and was not aware of any reason for a ban. 

The company also stated it was confident that it could increase sales to existing and new customers in non-Chinese markets if required. According to Sandfire, global copper concentrate markets for high quality copper concentrate were highly competitive.

The company advised its Degrussa operations have remained in full production in the December quarter. It will maintain its production guidance for the 2021 financial year of 67,000–70,000 tonnes of copper and 36,000–40,000 ounces of gold.

Sandfire settles lawsuit

Sandfire Resources also announced this morning that it had settled its legal claim against Adriatic Metals PLC (ASX: ADT). The company previously brought a claim against Adriatic Metals in July over dilution of its shareholding in the company. Sandfire Resources argued that Adriatic Metals had failed to adhere to its anti-dilution right set out in the collaboration and strategic partnership deed agreed to by the 2 companies. 

According to the announcement, the case was finalised with an agreement that Sandfire Resources would be allowed to purchase 4,830,156 Chess depository interests in Adriatic Metals for $1.79 per share. Shares in Adriatic Metals were last trading for $2.28 at the time of writing. 

About the Sandfire Resources share price

Sandfire Resources is a minerals exploration and production company with assets in Australia, the United States and Africa. Sandfire Resources has been listed on the ASX since 2004. 

Earlier in October, Sandfire Resources announced that it had acquired an 85% interest in the Red Bore copper project. The project is adjacent to the company's existing DeGrussa Copper-Gold asset in Western Australia.

In the quarter to 30 September 2020, Sandfire Resources had record copper production of 19,400 tonnes and gold production of 11,683 ounces. C1 cash costs in the September quarter were 53 cents per pound. 

The Sandfire Resources share price is up 48.36% since its 52-week low of $2.75. However, it is down 30.85% since the beginning of the year. The Sandfire Resources share price is down 31.66% since this time last year.

The post Sandfire Resources (ASX:SFR) share price lower amid China copper ban rumours appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

What was in the announcement?

Byron Energy said it had evacuated production operators from its assets at South Marsh Island 58 and South Marsh Island 71 due to adverse weather conditions caused by hurricane Zeta. 

At the company's South Marsh Island 58 asset, tying of the G2 well into production equipment is almost complete. Production from the well can begin after the tie-in is completed, the company said. However, production has been delayed due to hurricane Zeta and is now expected to resume next week after 2 November 2020. Byron has a 100% working interest in the well and an 83.33% revenue interest.

Production from the Byron Energy operated South Marshal Island 71 F platform was shut down on 25 October 2020 due to pipeline shut ins associated with hurricane Zeta. Byron Energy holds a 50% working interest in the platform and 40.625% net revenue interest in the block. Otto Energy Ltd (ASX: OEL) holds a working interest and net revenue interest in the asset equivalent to Byron Energy.

According to the Byron Energy, production at South Marshall Island 58 and South Marshal Island 71 will continue as soon as conditions are safe.

About the Byron Energy share price

Byron Energy is an oil and gas explorer with assets in the gulf of Mexico. The company has been listed on the ASX since 2005.

In the year to 30 June 2020, Byron Energy had revenue from the sale of oil and gas of US$24.37 million, down from US$38.57 million in the year to 30 June 2019. Byron Energy posted a loss of US$70,396 in FY2020, this followed a profit of US$5.74 million in the 2019 financial year.

At 30 June 2020, Byron Energy had proven reserves (1P) of 8.1 million barrels of oil and 58.5 billion cubic feet of gas. The company had proven and probable reserves (2P) of 17.5 million barrels of oil and 105.3 billion cubic feet of gas at 30 June 2020.

The Byron Energy share price is up 60% since its 52-week low of 10 cents, however, it is down 46.67% since the beginning of the year. The Byron Energy share price is down 46.67% since this time last year.

The post Byron Energy (ASX:BYE) rigs evacuated as hurricane Zeta approaches appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Aldoro Resources Ltd (ASX: ARN) share price soared more than 173% to 26 cents today before dropping back to 22.5 cents at the time of writing. The surge in the Aldoro share price is defying the wider market selloff and came after the company released an update about its Narndee project in Western Australia.

What was in the announcement?

According to Aldoro, it has commenced exploration at its Narndee project, which will take place from now into 2021. Aldoro Resources stated that it has been reviewing the project, along with historical data, and is set to commence exploration. The company will commence exploration work with an electromagnetic survey, set to take place in November. Following the electromagnetic survey, groundwork will commence in order to define drill targets for late 2021.

Aldoro stated that it will use modern exploration techniques in order to search for nickel and copper deposits. The announcement stated that "Aldoro holds 100% of the basal ultramafic portion of the complex around Narndee". Aldoro Resources holds a tenement of approximately 306km² in the area. 

According to the company, previous exploration conducted by Falconbridge revealed widespread nickel, copper and platinum anomalies of up to 6,190 parts per million of nickel, 672 parts per million of copper and 595 parts per billion of platinum and palladium. 

About the Aldoro share price

Aldoro Resources is a mineral exploration and development company with assets in Western Australia. The company has been listed on the ASX since 2018.

Earlier in October, Aldoro announced it had completed drilling at its Unaly Hill South project with assay results pending. The 56 drill holes were targeting gold and totalled 3,422 metres. 

In the quarter to 30 June 2020, the company spent $294,000, mostly on exploration. Aldoro Resources had cash on hand of $2.5 million at 30 June, however, it raised $1.19 million after the end of the June quarter.

After today's impressive rally, the Aldoro share price is up 246.14% from its 52-week low of 6.5 cents and has increased 32.35% since the beginning of the year. The Aldoro Resources share price is up 25% since this time last year.

The post Aldoro Resources (ASX:ARN) share price soars 137% on project update appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Dampier Gold Ltd (ASX: DAU) share price surged a massive 87.5% today to a high of 12 cents before dropping back to 7.6 cents at the time of writing. This came after the company announced a high grade strike at its Zuleika gold project, ending a trading halt that started on Monday.

What was in the announcement?

Dampier Gold said it had received spectacular results from its phase 2 aircore drilling program at Paradigm East. The drilling program consisted 21 holes and returned results including 24 metres at 6.39 grams per tonne of gold inclusive of 4 metres at 34.74 grams per tonne of gold. The drilling also identified 8 metres at 2.20 grams per tonne of gold inclusive of 4 metres at 3.25 grams per tonne of gold. 

The drilling extended the existing mineralised footprint a further 400 metres with a further 2km to be tested. The company said confirmation of the mineralised zone was highly encouraging for the system to produce high grade gold zones.

Dampier Gold has identified 40 advanced targets within the Zuleika project which it plans to test in the coming months. 

About the Dampier Gold share price

Dampier Gold is a gold exploration company with projects in Western Australia. Dampier Gold has been listed on the ASX since 2010.

Earlier in October, the company announced that it had discovered a new gold zone in the Browns Dam area of the Zuleika project. Results included 5 metres at 3.10 grams per tonne of gold inclusive of 1 metre at 6.6 grams per tonne of gold.

In the quarter to 30 June 2020, Dampier Gold spent $541,000 and had $2.18 million cash on hand at the end of the quarter, up from $1.71 million at the end of the previous quarter.

The Dampier Gold share price is up 471.43% since its 52-week low of 1.4 cents, it is up 300% since the beginning of the year. The Dampier Gold share price is up 300% since this time last year.

The post The Dampier Gold (ASX:DAU) share price surged up 87.5% today. Here's why. appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Dotz Nano Ltd (ASX: DTZ) share price fell as much as 19.23% today, reaching of low of 21 cents before recovering to 24 cents at today's close. This came 1 week after the company announced a placement to institutional and sophisticated investors.

What were the details of the placement?

Dotz Nano raised $7.1 million via the placement. The company sold 28.27 million shares at an issue price of 25 cents per share. The placement was announced on 19 October, and at the time was a discount of 13.8% to the last closing share price. The shares issued under the placement will begin trading on Wednesday 28 October 2020.

According to the company, the proceeds of the placement will be used to fulfil its 4 existing PPE authentication contracts in addition to increasing production capacity, establishing new distribution networks, engaging in sales and marketing and establishing proof of concepts for new products including commercialisation of Dotz's surface sanitation and on site virus detection.

A closer look at Dotz Nano

Dotz Nano is a technology company that specialises in carbon-based materials used for tracing, anti-counterfeiting and product liability solutions. Dotz Nano has been listed on the ASX since 2016.

Earlier this month, Dotz Nano announced that it had secured an agreement for the authentication of medical gowns worth US$255,000. The agreement was with Hong Kong based Universal Exports Group and followed a $1 million agreement with the same customer to authenticate medical face masks. 

Also in October, Dotz Nano gave a presentation at the Market Eye TechOpps virtual conference where it informed investors that $2.2 trillion of products are counterfeited, creating a large opportunity for Dotz Nano's authentication technology. 

About the Dotz Nano share price

The Dotz Nano share price is up 627% from its 52-week low of 3.3 cents and has risen more than 215% since the beginning of the year. The Dotz Nano share price is up 458% since this time last year.

The post Why the Dotz Nano (ASX:DTZ) share price nosedived 9% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

What has Funtastic announced recently?

On 23 October, Funtastic announced that it would undertake the acquisition of Australian e-commerce websites Toys "R" Us, Babies "R" Us, Hobby Warehouse and Mittoni. The company also announced that it would recapitalise through a fully underwritten placement and a debt for equity swap.

This morning, the company announced that it had successfully completed a placement worth $29 million. Funtastic will issue 258.9 million shares at an issue price of 11.2 cents. According to the company, the placement was well supported by both existing shareholders and new investors. The company's major shareholder, Jaszac Investments Pty Ltd, also committed to a conversion of $6 million of debt to equity, also at an issue price of 11.2 cents. 

The planned acquisition, placement and debt for equity swap are subject to shareholder approval, which will be sought at the company's annual general meeting on 23 November 2020.

The issue price of 11.2 cents was a 72% premium to the company's last trading price of 6.5 cents on 30 September.

According to Funtastic, capital raised from the company's placement will fund the growth of the group, develop logistics, warehousing and automation capabilities, marketing and brand development, debt repayment and the development of e-commerce technology and associated intellectual property.  

Funtastic chair Bernie Brooks commented on the company's placement:

With a strengthened balance sheet, Funtastic is well positioned to take advantage of the structural shift towards e-commerce for toys and hobby products while continuing to support and grow our ongoing wholesale agreements with our distribution and retail partners.

About the Funtastic share price

Funtastic is a wholesaler and distributor of consumer lifestyle products, which includes its own products and the products of its partners. Funtastic has been listed on the ASX since 2000.

The Funtastic share price is up 3,400% since its 52-week low of 0.4 cents, and is up 600% since the beginning of the year. The Funtastic share price is up 366.67% since this time last year.

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Motley Fool contributor Chris Chitty 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.

How much is the bid?

Coca-Cola European Partners made an offer of $12.75 cash per Coca-Cola share, less any dividends received by shareholders in the second half of 2020. The bidder will also make an offer to American parent, the Coca-Cola Company (NYSE: KO) for the shares it holds indirectly in Coca-Cola Amatil. If negotiations with the Coca-Cola Company are successful, the Coca Cola Amatil board has conditionally stated it will recommend shareholders vote in favour of the offer. This is provided there is no superior offer and that the bid is found to be fair and reasonable, as well as in the best interests of independent shareholders.

A report in the Australian Financial Review says shareholders have labelled the offer "opportunistic" with Coca-Cola Amatil management backing its conditional support for the takeover offer.

How has Coca-Cola Amatil performed lately?

Coca-Cola Amatil also released a trading update for the third quarter of 2020. Volumes in Q3 2020 were down 5.4% on the prior corresponding period (pcp). Volumes for the year to date have also dropped, down 9.7% on the pcp. Third quarter trading revenue was $1,105.9 million, down 4.2%, with year to date trading revenue down 7.6%.

Coca-Cola Amatil had net debt of $1,745 million at Q3 2020, this was down $82 million compared to the prior corresponding period.

The company reported that it had grown market share in Australia, New Zealand and Indonesia.

About the Coca-Cola Amatil share price

Coca-Cola Amatil is a soft drink bottler in the Asia Pacific region, operating in Australia, New Zealand, Indonesia, Papua New Guinea, Fiji and Samoa. The company has been listed on the ASX since 1970.

The Coca-Cola Amatil share price is up 58.69% since its 52-week low of $7.77. It is up 11.89% since the beginning of the year. The Coca-Cola Amatil share price is up 21.82% since this time last year. 

The post Coca-Cola Amatil (ASX:CCL) share price jumps 16% on takeover bid appeared first on The Motley Fool Australia.

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Motley Fool contributor Chris Chitty 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.

The Coventry Group Ltd (ASX: CYG) share price is up 9.59%% at the time of writing to 80 cents. This came after the company released a quarterly update for the September quarter. 

What was in the announcement?

Coventry Group announced sales growth of 7.7% in the September quarter 2020 when compared to the September quarter 2019. Total sales for the period were $68.3 million. 

The company reported that sales of its fluid systems were up 12.7% in Q1 FY2021 when compared to Q1 FY2020. According to the company, this was due to its strong value proposition along with activity in key market sectors and diversification into new markets. Coventry Group received a large order for its fluid systems in September of $8 million from a major mining and resources client. The company expects this large order to have a positive effect on its half year results.

According to Coventry Group, sales from its trade distribution business were up 4.8% in the September quarter of 2020 when compared to the prior corresponding period. The company reported that all business units in trade distribution posted a positive contribution to results for the September 2020 quarter.

According to the company, COVID-19 has had a minimal impact on its business, with the exception of lock downs in New Zealand. Coventry Group reported that all business units are fully operational, apart from four Konnect branches in metropolitan Melbourne which are affected by lockdowns and have some customer constraints in store.

Coventry Group reported that it had net assets of $104.1 million at 30 September and is targeting completion of the acquisition of industrial hose and associated equipment supplier, HIS Hose, on 1 December 2020.

The company advised that the markets in which its fluid systems and trade distribution businesses operate have been reasonably resilient during the COVID-19 pandemic. Furthermore, it expects its businesses to benefit from additional government stimulus measures and for economic growth to rebound.

About the Coventry Group share price

Coventry Group is a supplier of industrial products to the mining, construction and manufacturing sectors. It has been listed on the ASX since 1966.

The Coventry Group share price is up 73.91% since its 52-week low of 46 cents, however, it has fallen 24.53% since the beginning of the year. The Coventry Group share price is down 26.61% since this time last year.

The post Why the Coventry Group (ASX:CYG) share price is up 10% today appeared first on The Motley Fool Australia.

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