At one stage today, the ASX battery minerals stock was up as much as 71% to 6 cents.

The Australian Mines share price has since pulled back and is now up 23% to 4.3 cents.

Why were investors bidding this ASX battery materials stock higher?

Investors were scrambling to buy the company's shares this morning after it made a major announcement.

According to the release, the company has been granted Mining Lease 10368 for 25 years for the Greenvale mining area by the Queensland Government Department of Resources.

Management notes that this mining lease, combined with the Lucknow and Kokomo mining leases, contains the resources for the critical battery minerals at the Sconi Nickel-Cobalt-Scandium Project in North Queensland.

The company plans to operate the Sconi Battery Minerals project to produce battery-grade nickel sulphate and cobalt sulphate for approximately 30 years. It also has the potential to produce scandium oxide as a by-product.

However, while this approval is another step closer to realising the Sconi Battery Minerals project, it will still be some time until a final investment decision is made. Management revealed that it plans to make a decision on the project by the end of 2025.

It also revealed that it may not be going on this journey alone. The company is in discussions about the potential for a strategic collaborative partnership for the development of the project.

The ASX battery materials stock intends to update the market in due course with respect to such arrangements if they are finalised.

The post Why did this ASX battery minerals stock just leap 70%? appeared first on The Motley Fool Australia.

Today's gain comes as Australian Mines confirmed a binding offtake agreement in an earlier announcement.

Let's investigate further.

A quick recap on Australian Mines

Australian Mines is a resource company with concentrated efforts in the exploration of battery metals.

The company is developing cobalt-scandium-nickel projects in Australia, such as the Sconi Project and Bell Creek Nickel-Cobalt Project.

At the time of writing, Australian Mines has a market capitalisation of $86 million.

What did Australian Mines announce?

In a positive for the Australian Mines share price, the company announced it had entered into a binding long-form offtake agreement with LG Energy Solution Australia.

The agreement is for the supply of mixed nickel-cobalt hydroxide from Australian Mines' Sconi Project, which is located in North Queensland.

In addition, LG Energy Solution, owned by LG Chem, is "the world's largest producer of advanced batteries for the electric vehicle industry," as per the release.

Under the agreement, LG Energy will initially purchase 71,000 dry metric tonne of nickel, plus 7,000 dry metrics tonne of cobalt. Both will be purchased in the form of mixed hydroxide precipitate (MHP).

MHP is a nickel- and cobalt-containing material. It is used as a raw material input for lithium-ion battery production, according to Australian Mines.

Furthermore, one covenant embedded into the agreement is that Australian Mines must secure financing to construct the Sconi Project. The deadline for this is "on or before 30 June 2022".

As such, the company will "now move swiftly" to ensure that agreements with financing partners are finalised.

Investors have favoured the update and are buying Australian Mines shares in droves since the market open.

Australian Mines shares are now exchanging hands at 2.6 cents apiece, a 30% climb on the day.

Australian Mines share price snapshot

The Australian Mines share price has posted a return of 66% this year to date. That extends the previous 12-month climb of 20%.

The returns have outpaced the S&P/ASX 200 Index (ASX: XJO) return of around 25% over the past year.

The post Australian Mines (ASX:AUZ) share price rockets 30% on LG deal appeared first on The Motley Fool Australia.

It states that even if Australia becomes carbon neutral, the globe will probably reach average global surface temperatures of 3^oC more than the pre-industrial period. Additionally, it is believed that this will occur by 2100. It's crucial that ASX listed companies aim for net-zero emissions and get onboard the carbon revolution. This commitment will help avoid massive challenges for Australia's cities. Additionally, it would help protect the environment and industries, as well as our food and health systems.

The report was also optimistic that Australia can well and truly rise to meet this challenge. We have a skilled workforce, robust industries and tonnes of renewable energy resources.

We've had a look around for ASX listed environmentally friendly companies with aims to be carbon neutral.

Here are 3 companies proving it's possible to reach net-zero emissions

Vulcan Energy Resources Ltd (ASX: VUL)

Vulcan Energy is working towards becoming the world's first zero-carbon lithium producer for electric vehicle batteries. It plans on doing so by using geothermal energy to drive lithium production. In this process, there is no need for evaporation, mining or fossil fuels.

Vulcan has a brine lithium resource, located in Germany. The company says it has enough lithium to power Europe's lithium needs for years to come.

First ever comprehensive #NetZeroBy2050 plan for global energy sector coming in May. @VulcanEnergyRes & our #ZeroCarbon #Lithium project will be there every step of the way with baseload #renewable heat & power #ClimateAction #renewableenergy #COP26 @IEA https://t.co/p1iPMcdtB0 pic.twitter.com/s0GOQqjRGB

— Vulcan Zero Carbon Lithium Project (@VulcanEnergyRes) March 29, 2021

Mercury NZ Ltd (ASX: MCY)

Mercury is a New Zealand energy provider leading the way in renewable power. It generates electricity from hydro, solar, wind, and geothermal methods. It also provides customers with natural gas.

The company has committed to converting its entire vehicle fleet to electric powered vehicles. So far, its converted more than 69% of its fleet.

Mercury has submitted its information to the CDP (formerly the Carbon Disclosure Project). Additionally, it has received an A- for its climate-friendly initiatives. This puts them in the top 5 companies in New Zealand.

Happy World Rivers Day to the Waikato River. The mighty source of life and energy for thousands of Kiwis and the backbone of our 100% renewable generation. pic.twitter.com/sfqt56kOYH

— Mercury (@MercuryNZ) September 23, 2020

Australian Mines Ltd (ASX: AUZ)

Australian Mines' proposed Sconi Project, to be located in Queensland, is set to mine cobalt and nickel sulphate. It aims to supply its minerals for the electric vehicle market. It is to mine and process ore into battery precursor material on site, thus making it a low-cost operation.

Australian Mines was the first mineral resources company in Australia to be certified carbon neutral. The company employs energy-saving initiatives alongside offsetting any unavoidable emissions.

Australian Mines says it has become the first mineral resources company to be certified a "Carbon Neutral Organisation" under the Australian Government's Climate Active program | https://t.co/8JClT3PgzT #AustralianMines #Sconi @climate_active #CarbonNeutralMining #futureofmining pic.twitter.com/8NX6xJgbeg

— International Mining (@im_mining) August 19, 2020

The post These 3 ASX companies are leading the way to net zero emissions appeared first on The Motley Fool Australia.

For example, back in mid-2016, Goldman Sachs infamously slashed its coal price forecast and warned investors off coal right before its price went absolutely gangbusters for the next two years. 

However, cobalt investors have some good news today if the analysts at UBS are on the money about the cobalt price direction over the next year.

According to a Reuters news report, UBS is forecasting a 60% climb for cobalt prices over the next 18 months to US$20/lb, due partly to the closure of a Glencore cobalt mine in the Democratic Republic of Congo. The article also reports that cobalt prices could move even higher by 2024–25 due to a supply deficit. 

The ASX has dozens of micro- and small-cap cobalt miners and prospectors looking for a cobalt cash-in, with some of the more popular ones including Clean Teq Ltd (ASX: CLQ), Havilah Resources Limited (ASX: HAV), Cobalt Blue Holdings Ltd (ASX: COB), Jervois Mining Limited (ASX: JRV) and Australian Mines (ASX: AUZ).

Both cobalt and lithium are key ingredients in the batteries required to power electric vehicles, while cobalt is also commonly used in the batteries to power increasingly popular everyday electronic items such as laptops and iPhones.

The story is attractive on first blush, but whether any of these companies can turn rising demand into free cash flow and returns for shareholders is another story. 

Still, if UBS is on the money, these stocks could enjoy a strong 2019 and 2020.

The post UBS forecasts cobalt price to climb 60% over 18 months appeared first on The Motley Fool Australia.

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

The Australian Mines Limited (ASX: AUZ) share price has sunk 11.5% to 2.3 cents after the advanced battery materials developer announced an underwritten share purchase plan to raise $5 million. The new shares will be issued at a 20% discount to the Volume Weighted Average Price over the five trading days before the date of issue of the new shares. These funds are being raised to advance its Sconi Cobalt-Nickel-Scandium Project in North Queensland and for general working capital.

The Mayne Pharma Group Ltd (ASX: MYX) share price is down over 4% to 51.7 cents. The pharmaceutical company's shares have come under significant selling pressure over the last few weeks following the release of a trading update. That update revealed that its key Generics business was struggling once again and had experienced a sharp decline in sales in the second half.

The Prospa Group (ASX: PGL) share price has given back some of yesterday's gains and is down 6.5% to $4.17. I suspect that some investors have decided to take a bit of profit off the table after the online lender's shares rocketed higher on their first day on the ASX boards. The Prospa share price is still notably higher than its IPO price of $3.78.

The Vita Group Limited (ASX: VTG) share price has continued its slide and is down a further 7% to $1.31. The retailer's shares were sold off on Tuesday after it provided an update on its remuneration agreement with telco giant Telstra Corporation Ltd (ASX: TLS). Investors appear concerned by the uncertainty around how profitable the new agreement will be for the company.

The post Why Australian Mines, Mayne Pharma, Prospa, & Vita Group tumbled lower today appeared first on The Motley Fool Australia.

Four shares that have climbed more than most today are listed below. Here's why they are ending the week with a bang:

The Afterpay Touch Group Ltd (ASX: APT) share price has zoomed almost 4.5% higher to $16.27 despite there being no news out of the payments company. However, earlier this week Goldman Sachs retained its buy rating and $19.25 price target on Afterpay's shares after looking through its recent update. In addition to this, concerns over the Senate inquiry into the buy now, pay later space have started to subside.

The AusCann Group Holdings Ltd (ASX: AC8) share price has risen 3% to 65.5 cents after the medicinal cannabis company announced the completion of the acquisition of an R&D facility in Perth to further develop its cannabinoid pharmaceutical product pipeline. The R&D facility was purchased for $5.25 million, with the company expecting to invest further capital of up to $6 million over time to customise and fit out the site to purpose. The facility is expected to be ready for use during calendar year 2019.

The Australian Mines Limited (ASX: AUZ) share price has stormed 10.5% higher to 4.2 cents after the Queensland Government declared its Sconi Cobalt-Nickel-Scandium Project as a Prescribed Project. Management advised that this will assist in streamlining the project's progress through the final stages of regulatory approvals and fast-track its future development.

The Iluka Resources Limited (ASX: ILU) share price is up 9% to $8.21 following the release of its final quarter update. In FY 2018 Iluka produced 348,600 tonnes of zircon, an 11.6% increase on 2017. This was a pleasant surprise as the company had previously provided guidance of 330,000 tonnes. In addition to this, management provided its first mineral resource estimate of the rutile mineralisation at the Pejebu Deposit.

The post Why Afterpay, AusCann, Australian Mines, & Iluka shares stormed higher today appeared first on The Motley Fool Australia.

Four shares that are climbing more than most today are listed below. Here's why they have started the week with a bang:

The Ausdrill Limited (ASX: ASL) share price has pushed 4.5% higher to $1.36 after announcing that it has secured mining services contracts worth a total of $171 million. One of these contracts is a three-year underground mining services contract at the Rosemont Gold Project from Regis Resources Limited (ASX: RRL) worth approximately $113 million.

The Australian Mines Limited (ASX: AUZ) share price has jumped 7% higher to 4.7 cents after the mineral exploration company announced high grade cobalt and nickel intersections from its Sconi Resource extension drilling. Management advised that expansion drilling appears to frequently intersect cobalt-rich zones with grades higher than 0.5% cobalt, which it believes suggests that the Sconi Cobalt-Nickel-Scandium Project is continuing to live up to its status as a world-class deposit.

The Creso Pharma Ltd (ASX: CPH) share price has surged almost 7% higher to 56 cents after the diversified cannabis company announced a supply agreement with TerrAscend Canada for a minimum of 100 kgs of cannabis flower per month. This agreement means that Creso has committed a large portion of its capacity to TerrAscend in order to meet strong consumer demand for cannabis products.

The TPG Telecom Ltd (ASX: TPM) share price is up 5% to $7.21 despite there being no news out of the telco company. This latest gain means that the TPG Telecom share price has now rallied over 16% since this time last month. As a comparison, the Telstra Corporation Ltd (ASX: TLS) share price is up 7% during the period, roughly in line with the ASX 200.

The post Why Ausdrill, Australian Mines, Creso Pharma, and TPG Telecom shares stormed higher today appeared first on The Motley Fool Australia.

Three small cap shares that have stood out with strong gains today are listed below. Here's why they are on the rise:

The Australian Mines Limited (ASX: AUZ) share price has continued its positive run and jumped over 7% to 5.9 cents. On Wednesday the mineral exploration company provided the market with an update on the progress of its research and development project with Metalysis. That update revealed that Metalysis has qualified the company's high purity scandium oxide as a feedstock for next-generation scandium alloy. This is a big step forward in the eyes of management, which believes that the high value aluminium-scandium alloy continues to pose excellent launch product potential for Metalysis' highly anticipated Generation 4 industrial plant.

The New Century Resources Ltd (ASX: NCZ) share price has stormed 10.5% higher to $1.07 despite there being no news out of the mineral exploration company. However, on Monday Century released a reasonably positive update on its operations. That update revealed that its first concentrate shipment was fully loaded and sailed, with the company delivering the maximum available shipping parcel of 11,000 tonnes. This was 10% above initial shipment size expectations. Management believes this demonstrates the operational viability of the entire logistics chain for the restarted Century operations

The Rhipe Ltd (ASX: RHP) share price is up 6% to $1.38 on the day of its annual general meeting. Ahead of the event the wholesale subscription software license provider released an update on its first quarter trading. According to the release, revenue is up 30% to $55 million and operating profit has jumped 75% to $2.8 million. Management advised that the strong start to FY 2019 has given it the confidence to lift its full year operating profit guidance range to between $10.5 million and $11.5 million.

The post These small cap ASX shares are storming higher on Thursday appeared first on The Motley Fool Australia.

Three small cap shares that haven't let that hold them back are listed below. Here's why they have raced higher:

The Australian Mines Limited (ASX: AUZ) share price has bounced back from yesterday's heavy decline with a 12% gain to 5.5 cents. This morning the mineral exploration company provided an update on the progress of its research and development project with Metalysis. According to the release, Australian Mines' high purity scandium oxide has been qualified by Metalysis as a feedstock for next-generation scandium alloy. Management believes this high value aluminium-scandium alloy continues to pose excellent launch product potential for Metalysis' Generation 4 industrial plant.

The Nuheara Ltd (ASX: NUH) share price has risen 3.5% to 6.4 cents after the personal hearing device company announced that its IQbuds and IQbuds BOOST products have secured the necessary certifications to be sold in Korea. These certifications include KC Certification for battery compliance and the certificate of broadcasting and communications equipment. As a result of this, Nuheara has appointed Sam Audio as its initial non-exclusive distributor to the territory.

The Retail Food Group Limited (ASX: RFG) share price has rocketed 15% higher to 42 cents. This morning the embattled food and beverage company announced that Peter George has assumed the role of executive chairman with immediate effect. Mr George was previously a non-executive director of the company and was recruited as a turnaround specialist. He has had a successful 30-year career as a senior executive and non-executive director, including extensive professional experience of corporate turnarounds and capital markets. Time will tell if Retail Food Group can successfully turn its fortunes around, but I'm reasonably doubtful.

The post These small cap ASX shares are racing higher on Wednesday appeared first on The Motley Fool Australia.

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

The Altura Mining Ltd (ASX: AJM) share price is down over 4% to 18.2 cents. This morning the lithium miner was the subject of a bearish broker note out of the Macquarie equities desk. Its analysts have retained their underperform rating and cut the price target on its shares to 19 cents. The broker has concerns that a capital raising may be necessary due to the slower than expected ramp up of its Altura operation in Western Australia and its shrinking cash balance.

The Appen Ltd (ASX: APX) share price is down 3.5% to $10.34. Most of Australia's leading tech shares have dropped into the red today after the Nasdaq sank lower overnight. Appen's shares have now shed 22% of their value since this time last month. While I think they are very attractive at this level, I don't believe the volatility has ended yet.

The Ausdrill Limited (ASX: ASL) share price is down a further 3.5% to $1.40. The diversified mining services company's shares have fallen heavily this month following the completion of its acquisition of leading underground hard-rock mining contractor, Barminco. This is despite management also reiterating its FY 2019 earnings growth guidance of between 20% and 30%.

The Australian Mines Limited (ASX: AUZ) share price is down 7.5% to 4.9 cents. The cobalt, nickel, and scandium miner's shares have been on fire lately after the announcement of its second major scandium research partnership and improving investor sentiment amongst battery materials shares. I suspect that today's decline is a case of profit taking from day traders after its share price rally ran out of steam.

The post Why these 4 ASX shares are sinking lower today appeared first on The Motley Fool Australia.

Three shares at the small end of the market that have not let that hold them back are listed below. Here's why they are on the rise on Monday:

The Australian Mines Limited (ASX: AUZ) share price has continued its strong run and is up a further 10.5% to 5.2 cents. Investors have been fighting to get hold of the cobalt, nickel, and scandium miner's shares since the release of an announcement at the end of last week. That announcement revealed that the company has formed its second major scandium research partnership. According to the release, Australian Mines will collaborate with leading academic researchers at the Amrita Centre for Research and Development in India. The two parties will be focusing on the use of scandium in the next generation metal hydride batteries and hydrogen storage applications.

The Bubs Australia Ltd (ASX: BUB) share price is up almost 4% to 53 cents. The goats milk infant formula company's shares have performed reasonably well since the release of its quarterly update last week. That update revealed record quarterly sales of approximately $9 million, which was a 416% year-on-year increase. However, a good portion of this growth was from sales of CapriLac, which was acquired in the second quarter of FY 2018 and therefore did not feature in the prior corresponding period. Sales of Bubs infant formula products grew 90% on the prior period, albeit from a low base.

The Lucapa Diamond Co Ltd (ASX: LOM) share price has pushed 4.5% higher to 23 cents. This morning the diamonds company announced the discovery of a new alluvial source of large and premium-value diamonds at the Lulo diamond project in Angola. The company has been exploring the extensive flood plains along the ~50km stretch of Cacuilo River valley within the Lulo diamond concession in order to determine whether these areas also host exceptional alluvial diamonds. The early results have been positive with 17 regular Specials being recovered. The term Specials indicate diamonds greater than 10.8 carats. Management believes the results demonstrate the potential to open additional and expansive new mining areas at Lulo.

The post These small cap ASX shares are on the rise on Monday appeared first on The Motley Fool Australia.

Four shares that have not let that hold them back are listed below. Here's why they are ending the week with a bang:

The Australian Mines Limited (ASX: AUZ) share price has stormed 15% higher to 4.5 cents. This morning the cobalt, nickel, and scandium miner announced its second major scandium research partnership. According to the release, Australian Mines will collaborate with leading academic researchers at the Amrita Centre for Research and Development in India. The work being conducted is around the use of scandium in the next generation metal hydride batteries and hydrogen storage applications.

The Capilano Honey Ltd (ASX: CZZ) share price has pushed over 4% higher to $20.70 after the honey producer's takeover offer was sweetened. According to the release, the Wattle Hill and ROC Capital consortium has lifted its cash consideration from $20.06 to $21.00 per share. The Capilano Honey board has unanimously recommended that shareholders vote in favour of the scheme in the absence of a super proposal and subject to the independent expert concluding that it is fair and reasonable.

The Galaxy Resources Limited (ASX: GXY) share price has rocketed 12% higher to $2.56 despite there being no news out of the lithium miner. Almost all Australian lithium miners have posted strong gains today. Some investors may believe that their shares have bottomed after the industry experienced heavy declines in October.

The Kidman Resources Ltd (ASX: KDR) share price has jumped over 13% higher to $1.32. While Kidman Resources is likely to be getting a boost from the lithium miner rebound, its shares were given an additional boost from a broker note out of Ord Minnett. That note revealed that its analysts have a buy rating and $2.80 price target on the lithium miner's shares.

The post These ASX shares are ending the week with a bang appeared first on The Motley Fool Australia.

Three small cap shares pushing higher on Monday are listed below. Here's why they are on rise:

The Australian Mines Limited (ASX: AUZ) share price is up 2.5% to 4.2 cents after the mineral exploration company advised that the Northern Australia Infrastructure Facility (NAIF) Board has indicated it will move to investigating the potential for providing support for Australian Mines' Sconi Cobalt-Nickel-Scandium Project in Queensland. According to the release, the NAIF is a major long-term initiative of the Australian Government and provides access to up to $5 billion of finance. It also seeks to encourage and complement private sector investment to further that objective.

The Family Zone Cyber Safety Ltd (ASX: FZO) share price has risen 7% to 38 cents after the cyber safety company announced an agreement with Woolworths Group Ltd (ASX: WOW) subsidiary Woolworths Mobile. According to the release, Woolworths Mobile has chosen to range Family Zone's world-first FZ ONE cyber safe mobile phone. Management believes that the selection of the FZ ONE phone to be the child-friendly device in Woolworths' product range is a significant milestone and validation of the market opportunity. FZ ONE will be sold through Woolworths locations nationwide and online by Christmas 2018.

The Telix Pharmaceuticals Ltd (ASX: TLX) share price is up 3.5% to 74 cents following the release of no less than three announcements this morning. These include a manufacturing partnership for kidney cancer imaging with Cyclotek, the expansion of its PSMA imaging partnership with ANMI, and positive interim analysis of its ZIR-DOSE dosimetry bridging study. In respect to the latter release, the interim data has enabled Telix to proceed with its first patients in the global multi-centre Phase III trial for TLX250-CDx with the confidence that it has the dosing and dosimetry right and with much improved image quality compared with iodinated girentuximab.

The post These small cap ASX shares are on the rise on Monday appeared first on The Motley Fool Australia.

Four shares that have defied the market today are listed below. Here's why they are pushing higher:

The Asaleo Care Ltd (ASX: AHY) share price has risen over 3.5% to 76.2 cents despite there being no news out of the personal care product company. However, with its shares trading close to a multi-year low, some investors appear to see a lot of value in them at these levels.

The Australian Mines Limited (ASX: AUZ) share price has continued its solid run and is up almost 7% to 4.7 cents. Last week the nickel, cobalt and scandium company's shares fell to a new low for 2018. Two consecutive days of gains could be a sign that some bargain hunters feel this is an attractive price to buy its shares at.

The Orocobre Limited (ASX: ORE) share price has surged 7.5% higher to $4.52. Yesterday the lithium miner announced the appointment of Martin Perez de Solay as its new chief executive officer and managing director after an extensive global search by recruitment specialist Egon Zehnder. Mr Perez de Solay will take on these roles after the upcoming annual general meeting and a transition period with the current managing director and CEO. Investors appear to be pleased that the new CEO will be based in Argentina and intends to utilise his extensive operational expertise and in-country knowledge for the maximum benefit of shareholders.

The Senex Energy Ltd (ASX: SXY) share price has risen 2.5% to 52.3 cents. As well as receiving a boost from rising oil prices, Senex was a share named in a broker note out of Citi this morning. According to the note, the broker has retained its buy (high risk) rating and 56 cents price target on the energy producer's shares.

The post Why these 4 ASX shares are pushing higher today appeared first on The Motley Fool Australia.

The three small cap shares listed below have had a strong start to the week and are on the rise. Here's why:

The Australian Mines Limited (ASX: AUZ) share price has jumped 7% to 4.5 cents. The only real news out of the nickel, cobalt and scandium company was a $296,000 R&D tax rebate received for the 2016-17 financial year. Managing director, Benjamin Bell, stated that: "In addition to representing a small boost to our balance sheet, I believe the Commonwealth Government's continued incentive program has a real impact on encouraging Australian exploration and mining companies to invest in research and development of benefit to Australia. He added that: "The operation of the demonstration plant has played a critical role for Australian Mines as it has enabled optimisation of the extraction process for the Bankable Feasibility Study on the Sconi Project. The processing tests have significantly improved equipment reliability, recovery and purity levels of the nickel, cobalt and scandium products."

The De Grey Mining Limited (ASX: DEG) share price has risen 3.5% to 15.5 cents after high grade intercepts from new infill drilling confirmed two high grade lodes immediately beneath the Withnell open pit at the Pilbara Gold Project. According to management, the underground potential at the two largest gold deposits is considered high in respect to additional tonnes, grade, and resource ounces. Furthermore, the economic impact of a high-grade underground mine being added to the proposed open pit mining strategy is believed to be substantial in terms of potential to increase revenues, mine life, and annualised production rates.

The Rhinomed Ltd (ASX: RNO) share price has rocketed 21% higher to 34.5 cents. This morning the Melbourne based nasal respiratory company announced that it has signed a 12-year exclusive licensing agreement with New York based Columbia Care. According to the release, Columbia Care is the largest and most experienced manufacturer and provider of medical cannabis products and services in the United States. The agreement will leverage Rhinomed's patented nasal technology platform and Columbia Care's extensive medical cannabis research and development, manufacturing and distribution capabilities. Product development will commence immediately on multiple products with potential for product launches in 2019. The envisaged portfolio of reliable, dose-metered cannabis-based medicines administered nasally will include over the counter and clinical applications.

The post These small cap ASX shares are storming higher today appeared first on The Motley Fool Australia.

Four shares that have failed to follow the market higher today are listed below. Here's why they have started the week in the red:

The Australian Mines Limited (ASX: AUZ) share price has continued its decline and is down a further 13% to 4 cents. This means that the gold and base metals exploration company's shares have now fallen by 50% since the end of last month. Australian Mines' shares have continued to fall despite reporting positive results from reverse circulation drilling at the Greenvale Deposit of its Sconi project last week.

The Estia Health Ltd (ASX: EHE) share price has plunged 18% to $2.42 after Prime Minister Scott Morrison announced a royal commission into Australia's aged care system. The inquiry will focus primarily on residential and in-home aged care for seniors, but will also cover care for young people with disabilities. Estia Health has welcomed the royal commission, but shareholders certainly haven't. The rest of the aged care industry has fallen deep into the red today.

The Kidman Resources Ltd (ASX: KDR) share price has dropped a sizeable 14.5% to $1.08 after the lithium miner received notification that the Perth mining warden has recommended the WA minister for Mines and Petroleum refuse the applications for exemption from minimum expenditure obligations for tenements held by its subsidiaries at the Mt Holland Project. The worst-case scenario is that Kidman has to forfeit the tenements, though I feel that would be reasonably unlikely.

The Slater & Gordon Limited (ASX: SGH) share price has tumbled 5% to $2.90 despite there being no news out of the law firm. I suspect that today's decline is down to profit taking from investors after Slater & Gordon's shares surged higher last week following the launch of its Get Your Super Back campaign. I would suggest investors stay clear of the company, especially given how management has repeatedly warned shareholders that its shares may be overvalued.

The post Why these 4 ASX shares have started the week in the red appeared first on The Motley Fool Australia.

Four shares that have failed to follow the market higher today are listed below. Here's why they are ending the week in the red:

The Argosy Minerals Limited (ASX: AGY) share price is down 5.5% to 25.5 cents. On Thursday the lithium company's shares rocketed higher after it advised that a successful and scalable chemical process solution to produce battery quality lithium carbonate product had been achieved. This means the company will soon send samples to its preferred off-take party before looking to finalise the preliminary off-take agreement for Stage 1 product. Today's decline appears to be a case of profit taking from some investors.

The Australian Mines Limited (ASX: AUZ) share price has fallen 4% to 4.7 cents despite releasing positive drilling results from the Greenvale nickel, cobalt, and scandium deposit at its Sconi project in Queensland. Although the results demonstrated the potential for its mineral resource to be extended in multiple mineralised zones, it seems some investors were expecting stronger results.

The Avjennings Ltd (ASX: AVJ) share price has dropped almost 5% to 69 cents. This morning the shares of the land development, integrated housing and apartment development, and home improvements company went ex-dividend for its fully franked 3 cents per share final dividend. This will be paid to eligible shareholders on October 11.

The Eden Innovations Ltd (ASX: EDE) share price has tumbled 5% to 3.9 cents. Like Argosy Minerals, I suspect that today's decline is down to profit taking after its shares rallied notably higher on Thursday. Eden Innovations' shares jumped after it appointed Parchem as its exclusive ANZ distributor of its EdenCrete product. Parchem is a leading manufacturer and supplier of products and equipment to the Australian and New Zealand concrete and construction markets.

The post Why these 4 ASX shares are ending the week in the red appeared first on The Motley Fool Australia.

Four shares which have failed to follow the market higher today are listed below. Here's why they have tumbled lower:

The Australian Mines Limited (ASX: AUZ) share price has fallen almost 11% to 9.1 cents after the cobalt and nickel exploration company returned from a week-long trading halt. It appears that investors were not overly satisfied with the answers the company provided when quizzed by the ASX about a recent presentation by its managing director. I would suggest investors stay clear of the company.

The Hub24 Ltd (ASX: HUB) share price has tumbled almost 8% to $11.46 two days after providing a trading update. Yesterday Ord Minnett rated the fin tech company as a buy with an increased price target of $13.75. Clearly some investors don't agree with this view and have been heading to the exits in their droves today. I think that this could potentially be a buying opportunity when the dust settles.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has dropped 3% to $7.26 after going ex-dividend this morning for its latest distribution. Eligible Sydney Airport shareholders can now look forward to receiving its 18.5 cents per share distribution on August 18. The airport operator was one of a number of popular dividend shares going ex-dividend this morning.

The WiseTech Global Ltd (ASX: WTC) share price has fallen 4.5% to $15.99 despite there being no news out of the logistics platform provider. However, there were heavy declines in the U.S. tech sector last night which appear to have been replicated here in Australia today. At the time of writing the information technology sector is the worst performing area of the market and down over 1.2%.

The post Why these 4 ASX shares tumbled lower today appeared first on The Motley Fool Australia.

Will things be better on Thursday? Here are five things to watch:

ASX futures pointing lower.

It was a disappointing night of trade on US markets as trade war concerns weighed on investor sentiment. The Dow Jones Industrial Average finished 0.7% lower, the S&P 500 was down 0.9%, and the NASDAQ was down a sizeable 1.5%. Unsurprisingly the Australian share market is expected to open the day lower on Thursday following these declines. According to the latest SPI futures, it is expected to open the day 9 points or 0.15% lower.

Oil prices zoom higher.

It has been yet another day of gains for oil prices, though. According to Bloomberg, the WTI crude oil price pushed 2.5% higher to US$72.30 a barrel and Brent crude oil rose 1.2% to US$77.25 a barrel. Prices pushed higher amid supply disruptions in Libya and Canada. This could mean another positive day of trade for the likes of Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL).

Popular dividend shares going ex-dividend.

A number of shares will go ex-dividend on Thursday for their latest distributions. These include Magellan Global Trust (ASX: MGG), Mirvac Group (ASX:MGR), National Storage REIT (ASX: NSR), Rural Funds Group (ASX: RFF), Sydney Airport Holdings Pty Ltd (ASX: SYD), and Transurban Group (ASX: TCL).

Australian Mines shares return to trade.

The Australian Mines Limited (ASX: AUZ) share price will be one to watch following its return from a trading halt after responding to an ASX query. The response saw the cobalt and mineral exploration company retracting financial forecasts given by managing director Benjamin Bell at a recent conference in London. Mr Bell had stated that the Sconi nickel and cobalt project was expected to generate revenue of $400 million per year through a $5 billion deal with SK Innovation. The company agreed there was no "reasonable basis" to offer such forecasts. Its shares have been on fire in OTC markets whilst halted.

Aurizon Holdings shares rated as a sell.

According to a note out of Goldman Sachs, its analysts have reiterated their sell rating on Australian rail freight operator Aurizon Holdings Ltd (ASX: AZJ) after its investor day. Although the company announced a number of new operational initiatives, it wasn't enough to allay UT5 concerns. Goldman has a $3.90 price target on Aurizon's shares.

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

Why were Australian Mines' shares in a trading halt?

The mineral exploration company's shares were placed in a trading halt last week whilst it prepared a response to an ASX query.

Among the many questions that the ASX wanted answered was an explanation for financial forecasts given in a presentation at a mining conference in London last month.

In that presentation the company's managing director Benjamin Bell stated that the Sconi nickel and cobalt project was expected to generate revenue of $400 million per year through a $5 billion deal with SK Innovation.

These comments were contrary to the requirements of the ASX listing rules and have now been retracted by the company. It also acknowledged that it did not have a "reasonable basis" consistent with the requirements of ASIC to offer financial forecasts.

Surprisingly, the company insists that such comments should not have had a material effect on the price or value of its shares. Given the company's market capitalisation is a touch under $300 million, I'm not sure I would agree with this view as those are significant forecast revenues for a company of its size.

What now?

Australian Mines' shares look set to have a positive return to trade on Thursday despite this unwanted development.

Whilst its shares were halted they were on fire in over the counter markets in the United States. Those US-listed shares rose 28% on Wednesday and a further 22% on Thursday.

Should you invest?

I think it is a little too soon to invest in Australian Mines and investors ought to wait until financial forecasts can be relied on.

Until then I would suggest investors stick with mining giants such as BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO).

The post Australian Mines Limited (ASX:AUZ) shares return from their trading halt appeared first on The Motley Fool Australia.