At the time of writing, the mining giant's shares are up 0.5% to $123.04.

This compares favourably to the performance of the ASX 200 index, which is currently down a disappointing 1%.

Why are Rio Tinto shares outperforming?

Today's gain appears to be largely down to a positive night of trade for commodity prices, which has helped lift Rio Tinto and rival BHP Group Ltd (ASX: BHP).

In addition, there has been some news that could have caught the eye of investors today.

That news involves uranium developer Energy Resources Of Australia Ltd (ASX: ERA), which Rio Tinto has an 86.3% ownership.

Energy Resources of Australia has been one of Australia's largest uranium producers and operated Australia's longest continually producing uranium mine. However, after the closure of the Ranger Mine in 2021, it is now committed to creating a positive legacy and achieving world-class, sustainable rehabilitation of former mine assets.

This brings us to today's announcement. According to the release, Energy Resources Of Australia has appointed Rio Tinto to manage the Ranger Rehabilitation Project under a new Management Services Agreement (MSA).

The release notes that Energy Resources of Australia's Independent Board Committee (IBC) carefully considered the potential MSA and whether it was in the best interests of shareholders.

It concluded that there was significant value for the company, and potential cost savings, in directly leveraging Rio Tinto's mine rehabilitation, project management experience and capability to support the safe and efficient delivery of the Ranger Rehabilitation Project.

Management commentary

Energy Resources of Australia's Chairman, Rick Dennis, said:

We are pleased to have appointed Rio Tinto to manage the Ranger Rehabilitation Project. The Ranger Rehabilitation Project is a complex and globally significant rehabilitation and after extensive consideration the IBC has concluded that there would be significant value for ERA in directly leveraging Rio Tinto's mine rehabilitation, project management experience and capabilities.

Rio Tinto's Chief Executive of Australia, Kellie Parker, adds:

With the signing of this agreement, we are pleased to be able to directly provide more closure and project delivery experience and know-how to this critical task. We look forward to working in partnership with the Mirarr Traditional Owners and other stakeholders to complete the project.

In light of the appointment, an updated rehabilitation timeline for the Ranger project will be disclosed once finalised.

Rio Tinto shares are now up approximately 4% over the last 12 months.

The post Why are Rio Tinto shares outperforming the market on Wednesday? appeared first on The Motley Fool Australia.

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

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is down 19% to $3.04. Investors have been selling the gold miner's shares after its quarterly update fell well short of expectations. And while management has reiterated its full year guidance, the market doesn't appear to believe it will be able to achieve it after such a poor three months.

Pantoro Ltd (ASX: PNR)

The Pantoro share price is down 8% to 4.4 cents. Investors haven't responded positively to the gold miner completing its review of its current mining strategy. That's despite the review determining that significant improvements to its production and cost profile can be achieved through the implementation of a revised plan. This involves the development of the underground at Scotia earlier than originally forecast.

Energy Resources Of Australia Ltd (ASX: ERA)

The Energy Resources Of Australia share price is down 7% to 6.6 cents. This appears to have been driven by profit taking after the uranium developer's shares exploded this week. They were up almost 70% this week prior to today's session thanks to a booming uranium price. This has been driven by the world's largest uranium miner warning that its production could be short of expectations in 2024 and 2025.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is down 3.5% to $2.16. This morning, analysts at UBS downgraded the financial services company's shares to a sell rating with a $2.05 price target. The broker believes that Insignia, formerly known as IOOF, has a very challenging outlook.

The post Why Evolution Mining, Pantoro, Energy Resources, and Insignia shares are dropping today appeared first on The Motley Fool Australia.

Since the start of the week, the uranium developer's shares have risen a whopping 66%.

The gains have been so strong that the company received a speeding ticket from the Australian stock exchange on Tuesday.

The stock exchange operator said:

Is ERA aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?

Why is this ASX uranium stock rocketing?

The company responded to the speeding ticket, noting that the uranium spot price has risen materially this month. It said:

ERA notes there has been a significant appreciation of the global U3O8 (Uranium) spot price over the past week with the most recent price reported at $105.75 USD per pound.

This has been driven largely by news that the world's biggest uranium miner, Kazatomprom, is expecting to fall short of its production targets over the next two years.

This poses a big risk to uranium supply at a time when demand for the nuclear fuel is rebounding strongly due to the decarbonisation of the planet.

What is Energy Resources Of Australia?

Energy Resources of Australia operated the Ranger Mine, Australia's longest continuous uranium mine, in the Northern Territory until it closed in 2021.

The ASX uranium stock is now focused on the sustainable rehabilitation of former mine assets.

Though, this will come at a significant cost. Last year, the company revealed that it expects the total rehabilitation costs for the Ranger Mine to materially exceed the previous estimated range of $1.6 billion to $2.2 billion.

But with uranium prices tipped to boom for decades to come, judging by recent gains, the market appears confident that it will still deliver a good return for investors.

The post Guess which ASX uranium stock is up ~70% this week appeared first on The Motley Fool Australia.

In afternoon trade, the ASX All Ords stock has crashed 68% to 6 cents.

What's going on with this ASX All Ords stock?

Investors have been hitting the sell button this week after the uranium developer announced a $369 million renounceable entitlement offer.

According to the release, the company is aiming to raise the funds via a 5 for 1 non-underwritten pro rata renounceable entitlement offer. These funds will be raised at 2 cents per new share, which represents a whopping 90.2% discount to its five-day volume weighted average price of 20 cents.

Proceeds from the entitlement offer are expected to provide the ASX All Ords stock with sufficient cash to fund its planned Ranger Project Area rehabilitation expenditure for the next 12 months, repay the Rio Tinto Ltd (ASX: RIO) credit facility, and fund the costs of the entitlement offer.

The release also notes that Energy Resources Of Australia has secured binding pre-commitments from Rio Tinto, Packer & Co, and Zentree Investments. They have collectively committed to subscribe for $355 million in total.

So why are its shares falling today?

Given that this capital raising was announced earlier this week, investors may be wondering why this ASX All Ords stock is crashing today.

The reason for this is that the offer is renounceable and today is the day that eligible shareholders can see their entitlements. The company explains:

As the Interim Entitlement Offer is renounceable, Eligible Shareholders may sell all or part of their entitlements on ASX at the prevailing market price for the entitlements (provided there is a viable market for entitlements). Entitlements trading commences on Thursday 6 April 2023 (on a deferred settlement basis) or Friday 14 April 2023 (on a normal settlement basis) and ends on Friday 28 April 2023.

The post Why did this ASX All Ords stock just crash 68%? appeared first on The Motley Fool Australia.

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

Brickworks Limited (ASX: BKW)

The Brickworks share price is down almost 2% to $22.60. This has been driven by the building products company's shares trading ex-dividend this morning for its latest dividend. Eligible shareholders can now look forward to receiving this 23 cents per share interim dividend in their bank accounts on 2 May.

Energy Resources Of Australia Ltd (ASX: ERA)

The Energy Resources share price is down a massive 69% to 5.8 cents. This uranium developer's shares have come under significant pressure this week after it announced a $369 million 5 for 1 entitlement offer. Energy Resources is raising the funds at a whopping 90.2% discount of 2 cents per share. The proceeds will be used partly to support its Ranger Project Area rehabilitation expenditure over the next 12 months.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down a further 3.5% to $7.98. Investors have been hitting the sell button this week after the fund manager released another bleak funds under management (FUM) update. The company's FUM has now dropped by 38% over the last 12 months.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 4% to $3.57. Investors have been selling ASX lithium shares on Thursday after their US peers tumbled overnight. A bearish broker note out of Bank of America appears to have sparked the selling in Wall Street. It warned that lithium prices could fall materially in the coming months based on futures contracts. It suspects this could lead to negative earnings revisions for Albemarle. Investors appear to believe this may also be the case for Pilbara Minerals and co.

The post Why Brickworks, Energy Resources, Magellan, and Pilbara Minerals shares are dropping today appeared first on The Motley Fool Australia.

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

Energy Resources Of Australia Ltd (ASX: ERA)

The Energy Resources share price is down 10% to 18.5 cents. Investors have been selling this uranium developer's shares after it announced a $369 million 5 for 1 entitlement offer. The company is aiming to raise the funds at a whopping 90.2% discount of 2 cents per share. The funds will be used partly to support its Ranger Project Area rehabilitation expenditure over the next 12 months.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is down 6% to $1.35. This morning, this biopharmaceutical company released an update on a phase 2 clinical study of injectable pentosan polysulfate sodium (iPPS). Day 168 data from Paradigm's trial demonstrates multiple signals that iPPS may slow disease progression in knee osteoarthritis. Some investors may have been looking for stronger data from the trial.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price is down 5.5% to 84 cents. This follows a similarly sharp decline for this lithium miner's NASDAQ listed shares during overnight trade on Wall Street. This appears to have been driven by broad weakness in the lithium industry.

Seek Ltd (ASX: SEK)

The Seek share price is down 2.5% to $23.62. Investors have been selling this job listings company's shares after it revealed it would fall short of its revenue guidance in FY 2023 due to continued moderation of job ad volumes. Positively, management expects to still achieve its earnings guidance despite this. It also provided long term revenue guidance ahead of consensus expectations.

The post Why Energy Resources, Paradigm, Piedmont Lithum, and Seek shares are dropping today appeared first on The Motley Fool Australia.

As always, there are outlier performers within the index every day, and on Friday we see two miners climbing the charts by more than 10%.

Let's take a look at the details.

Kingsgate Consolidated Limited (ASX: KCN)

Among the best-performing ASX All Ordinaries shares today is gold miner, Kingsgate.

The Kingsgate share price is up 21% to $1.79 at the time of writing.

Investors have been bidding up the shares after the miner announced the official reopening of its Chatree Gold Mine in Thailand.

What will follow now is work to recommission Plant No. 2 and the ramp-up to full capacity.

Kingsgate management described it as "a truly remarkable moment."

Kingsgate's executive chair, Ross Smyth-Kirk, said:

We have always believed that having the mine operate again is the best possible outcome, and I would like to personally thank all our loyal staff who have worked so hard to make this happen and all our loyal shareholders who have stuck with us through thick and thin over the past 6 years.

Energy Resources Of Australia Ltd (ASX: ERA)

This ASX All Ordinaries share reached an intraday high of 23 cents today, a 15% increase on yesterday's close.

Currently, Energy Resources shares are trading for 22 cents, up 7.5% for the day.

There is no ASX news relating to the ASX uranium share today. The price of uranium fell 0.6% overnight, and it is down 3.86% over the past month, according to Trading Economics.

So, we wonder if this week's announcement of an AUKUS nuclear submarines deal has perhaps prompted some attention from speculative investors.

Almost twice the 30-day average volume of trading for Energy Resources shares has occurred today.

Australian Prime Minister Anthony Albanese announced the AUKUS deal on nuclear subs this week alongside United States President Joe Biden and British Prime Minister Rishi Sunak in San Diego.

This deal involves a few elements. One will be that Australia will begin building its own nuclear subs later this decade, and will also purchase three Virginia-class nuclear subs from the US in the early 2030s.

An SSN-Aukus nuclear sub will be designed using the best of UK design and US technology to create a new attack fleet for the UK and Australia.

This bodes well for the future of uranium demand to help power the subs. This might have speculative investors moving on Energy Resources shares today.

Rio Tinto Ltd (ASX: RIO) owns 86% of Energy Resources shares.

The post 2 ASX All Ordinaries shares rocketing over 10% today appeared first on The Motley Fool Australia.

Energy Resources of Australia Limited (ASX: ERA), Unibail-Rodamco-Westfield (ASX: URW) and Beacon Lighting Group Ltd (ASX: BLX) shares are all in the green.

Let's take a look at why these three shares are rising.

Unibail-Rodamco-Westfield

Unibail shares are soaring nearly 6% today. The company advised it has appointed Audrey Arnoux as Group Director of Investor Relations. Arnoux will work with the company and local teams to develop and expand relationships with investors and financial analysts.

Commenting on the news, Chief financial officer Fabrice Mouchel said:

I am excited to welcome Audrey to lead our Investor Relations function. Her significant capital markets and investor relations experience will be a tremendous asset for URW and I look forward to working with her to further strengthen our relationships with the financial
community

Energy Resources

Energy Resources shares are surging 7% today. The company produces uranium from the Ranger Mine in the Northern Territory. Energy Resources advised that chairman Peter Mansell and independent non-executive directors Paul Dowd and Shane Charles are intending to resign from the board of the company.

Rio Tinto had called for Mansell to resign to allow for board renewal. Rio Tinto is the majority shareholder of Energy Resources.

Energy Resources also provided a table responding to recent media reporting.

Beacon Lighting

Beacon Lighting shares are lifting 5.7% today. This is despite no news out of the company. Meanwhile, the S&P/ASX 200 Consumer Discretionary is down 0.19% today.

Beacon is an ASX consumer share selling lighting, globes and ceiling fans. Beacon's gross profit margin lifted to 69.1% in FY22. The company recorded record sales of $304.3 million and a record EBITDA of $92.7 million. Beacon is planning to open five new stores in FY23.

Sales in the USA lifted 51.9% in FY22. In recent news, data from the USA shows spending increased 0.4% in the month of August in the USA, CNBC reported.

The post 3 ASX All Ordinaries shares defying today's sell-off to surge higher appeared first on The Motley Fool Australia.

Here's a run through of the results they posted to the market today.

Tesserent Ltd (ASX: TNT)

The Tesserent share price is leaping 8.7% to trade at 12.5 cents on Tuesday afternoon following the release of the company's financial year 2022 earnings. And what a financial year it was.

The cyber security service provider posted a $166 million turnover – representing a 71% year-on-year increase.

It also brought in $18.6 million of earnings before interest, tax, depreciation, and amortisation (EBITDA) on a normalised basis, representing a 94% lift.

Finally, its normalised net profit after tax (NPAT) rose 38% to $10 million.

EMvision Medical Devices Ltd (ASX: EMV)

Financial year 2022 was also good to EMvison Medical Devices, and the market apparently agrees. It's bidding the ASX medical imaging technology developer's stock 7.8% higher to $1.52 on the back of its earnings.

The company posted nearly $4.4 million of revenue for the financial year just been, 144% more than it did for the prior corresponding period (pcp).

Its losses also improved, lifting to a $6.1 million loss compared to financial year 2021's $8.4 million loss.

Energy Resources of Australia Limited (ASX: ERA)

Finally, the Energy Resources of Australia share price is lifting 2.8% to trade at 25.7 cents after the ASX-listed uranium producer dropped its half-year earnings today.

It posted an after-tax loss of $34 million for the six months ended June. That reflected lower sales volumes and higher non-cash costs. Its revenue from uranium sales also slumped 34% over the period to $35.3 million.

It comes after its Ranger Mine ceased operation in January 2021, meaning no uranium oxide was produced by the company last half. It also spent $80 million on rehabilitation activities at the Ranger Project Area over the half just been.

The post 3 ASX shares soaring on earnings updates appeared first on The Motley Fool Australia.

Cleary is the portfolio manager of listed investment company (LIC) Tribeca Global Natural Resources Ltd (ASX: TGF).

In an interview with Livewire, Cleary said he was "very bullish" on uranium shares. 

What's happening with ASX uranium shares?

Cleary said uranium shares have lost value recently but are well-positioned for a big future. This is especially because several governments have recently approved the commodity for energy generation.

Cleary said:

Uranium correlates very well with other energy commodities, whether it's gas or coal or oil — as it should do because it's obviously competing as an alternative energy source. 

However, year to date, uranium equities are down materially and have completely decoupled with the other energy groups for no really good reason at all.

In fact, they've been correlating more with cryptocurrencies and digital assets, for whatever reason.

Cleary expects to see this trend rapidly reverse course in the next few months. As a result, he reckons most ASX shares in the uranium space have a 30% to 50% upside from here.

He added:

The European Union has just approved uranium as an approved energy source. The American government are very supportive of nuclear generation. So is China. 

So uranium has a really strong governmental backing as a baseload energy source given it produces lower carbon emissions versus other fossil fuels going forward.

Uranium shares have declined in 2022 due to rising concerns about recession, as well as China's strict COVID-19 policy.

Which ASX uranium share is a buy?

Cleary's pick of the bunch is Boss Energy Ltd (ASX: BOE).

Boss Energy is one of the larger ASX shares in the uranium sector with a market capitalisation of $853.24 million. It holds interests in the Honeymoon uranium project in South Australia. It also holds interests in nickel-copper exploration projects in Scandinavia as well as gold interests in Burkina Faso.

The Boss Energy share price is up 1,300% over the past 12 months (yep, you read that right). But in the year to date (ytd), it has declined by 2%.

Here is a summary of the performance of the other big players in the uranium space:

• The Paladin Energy Ltd (ASX: PDN) share price is up 44% over 12 months and down 21% ytd
• The Energy Resources of Australia Limited (ASX: ERA) share price is down 4% over 12 months and down 29% ytd
• The Silex Systems Ltd (ASX: SLX) share price is up 243% over 12 months and up 143% ytd
• The Bannerman Energy Ltd (ASX: BMN) share price is up 33% over 12 months and down 27% ytd
• The Deep Yellow Limited (ASX: DYL) share price is up 10% over 12 months and down 18% ytd

The post The ASX shares with 30% to 50% upside: fundie appeared first on The Motley Fool Australia.

The commodities boom helped ASX energy shares in FY22. The price of crude oil rose by about 40% and the price of natural gas increased by about 55%.

Plus, geopolitical unrest over the Russian invasion of Ukraine, and lockdowns in China, caused many supply chain issues which boosted the fortunes of many ASX energy shares.

But not every share had a great time in FY22.

Here are the five worst-performing ASX energy shares for FY22, according to Capital IQ figures.

• Washington H. Soul Pattinson and Co Ltd (ASX: SOL) down 29.7%
• Wesfarmers Ltd (ASX: WES) down 28.5%
• Carnarvon Energy Ltd (ASX: CVN) down 26.4%
• Energy Resources of Australia Limited (ASX: ERA) down 25.5%
• Strike Energy Ltd (ASX: STX) down 22.7%.

Why these ASX energy shares tanked

Capital IQ categorises investment house Soul Patts as an ASX energy share because it owns 39.9% of New Hope Corporation Limited (ASX: NHC), which is a diversified energy company in southeast Queensland.

As my fellow Fool Tristan reported this week, Soul Patts has fallen out of favour with ASX investors. While New Hope had a great year — its share price doubled in FY22 — other ASX shares that Soul Patts owns took a dive. Example: Brickworks Limited (ASX: BKW) — its share price dropped 26%.

The conglomerate Wesfarmers is also categorised as an ASX energy share because of its chemicals, energy, and fertilisers division. One of its more recognisable brands is gas producer and retailer Kleenheat.

Tristan reported on the near 30% drop in the Wesfarmers share price in FY22 this week, too.

Wesfarmers reported in its half-year FY22 results that net profit after tax (NPAT) had fallen 14.2% to $1.2 billion. This was largely due to store closures and trading restrictions during COVID-19.

What about Carnarvon and Energy Resources?

Carnarvon Energy is an oil and gas explorer. It's not yet generating revenue, and this combined with the rising interest rate environment has probably put some investors off.

In January, Carnarvon announced that its drilling at the Buffalo-10 well found the oil column to be residual and uncommercial. In April, the company announced that drilling at the Apus-1 well did not yield a commercial hydrocarbon pool.

Energy Resources of Australia is one of the nation's largest uranium oxide producers. It operated the Ranger mine, Australia's longest continually operating uranium mine, in the Northern Territory.

The Energy Resources share price has been in a steady decline since September 2021. That's also when the company announced cost and schedule overruns with its Ranger Project rehabilitation program.

The program is being undertaken as part of the mine's closure. In October, the company told the ASX the overruns would be "material" but they weren't yet ready to reveal numbers.

The following month, the company's CEO and managing director Paul Arnold resigned to take a job at Rio Tinto Limited (ASX: RIO). He was formally replaced in February 2022 by Brad Welsh.

In February, the company said the rehabilitation was going to cost between $1.6 billion and $2.2 billion — up from the initial estimate in 2019 of $973 million.

It also said the estimated completion date could be as late as the fourth quarter of 2028.

That same month, Energy Resources reported its full-year results for FY21. It recorded a net loss after tax of $650 million for 2021 compared to a net profit after tax of $11 million in 2020. A big part of this was the increasing costs of the rehabilitation program.

And the Strike out?

The Strike Energy share price experienced a massive 56% decline in value between August and December 2021. It recovered in 2022 but remained in the red by more than 22% at the end of FY22.

The decline in August began after the company announced problems at its West Erregulla 5 (WE5) well.

In October, Strike disappointed the market with its maiden Perth Basin Gas Reserve, which revealed gross gas reserves "significantly below" the company's guidance, as my fellow Fool James reported.

Although Strike released a number of positive announcements, it appears investors lost interest in the ASX energy share in the first half of FY22 before reengaging in the second half.

The post 5 worst ASX energy shares of FY22 appeared first on The Motley Fool Australia.

At the time of writing, the ASX 300 is hovering 0.06% lower to 7,278.9 points. This means the index is now down by more than 2% in a month.

Let's take a look at the biggest winners and losers on the ASX 300 today.

Paladin Energy Ltd (ASX: PDN)

The Paladin share price is roaring 20.68% higher to 88.7 cents amid the company's release of its sustainability report.

The company noted that its Langer Heinrich Mine in Namibia is progressing towards restarting production. In addition, it is engaging with global nuclear energy utilities to secure long-term contracts.

Overnight, the Global X Uranium Exchange Traded Fund (ETF) jumped 11.65% to US$26.92. This has also led to other industry players in the uranium sector experiencing sharp and sudden increases in their share prices.

The a2 Milk Co Ltd (ASX: A2M)

Another mover today is the A2 Milk share price, up 13.45% to $6.58.

The infant formula company is on the receiving end of smaller rival Bubs Australia Ltd (ASX: BUB)'s latest news.

Bubs reported earlier today that it achieved a 96% year-on-year increase in gross revenue to $18.5 million for Q1 FY22. Investors appear to believe that the struggling industry has brighter days ahead following the severe impact COVID-19 had.

Energy Resources of Australia Ltd (ASX: ERA)

The Energy Resources share price is also pushing ahead, up 11.54% to 43.5 cents.

The mineral exploration and production company announced its quarterly update early yesterday morning. It advised that no production of uranium oxide occurred over the 3-month period ending 30 September.

Energy Resources stated it will continue to sell down its stocks of uranium oxide. Expected contract sales are estimated to come in at 1.37 million pounds in 2021.

Which ASX 300 companies are heading south?

Pact Group Holdings Ltd (ASX: PGH)

The Pact Group share price is down a heavy 12.79% to $3.00.

Investors are selling the packaging company's shares after Pact Group provided a sale update on its contract manufacturing businesses.

The company said that it terminated the deal as it was perceived to be under unfavourable terms. In addition, a brief trading update was attached to its update.

Bank of Queensland Ltd (ASX: BOQ)

Also being weighed down by investors today is the Bank of Queensland share price, down 4.94% to $9.24.

The regional bank released its full-year results for the 2021 financial year.

While its numbers reported growth across the board, investors have been focused on the company's near-term outlook.

Management advised its net interest margin is forecast to fall by up to 7 basis points in FY22. Bank of Queensland blamed increased competition and the low interest rate environment for the decline.

The post Which ASX 300 shares are leading the way mid-week? appeared first on The Motley Fool Australia.

The company is currently undergoing a rehabilitation program for the area surrounding its uranium Ranger Mine in the Northern Territory.

What's driving the Energy Resources share price?

This morning, Energy Resources announced that the Ranger rehabilitation project will overrun both initial cost and schedule forecasts.

According to the release, the full extent of the overrun is not yet known and the company will update the market in due course.

Production at the Ranger Mine ceased in early 2021 after 40 years of operation.

The company will undergo an extensive cleanup of the area with activities such as managing contaminated materials and reinstating the affected landform.

The company estimates that over 18 gigalitres of process water need to be treated over the next five years and 90 million tonnes of material will need to be moved to create the final landform.

According to Energy Resources' June half-year results, the rehabilitation project is a strategic priority to demonstrate the company's commitment to "long-term sustainable operations in the region, create a sustainable, positive legacy and underpin potential future growth opportunities."

The completion of the rehabilitation project was initially projected by January 2026.

Energy Resources held total cash resources of $725 million at 30 June 2021, comprised of $191 million in cash at bank and $534 million held by the Commonwealth Government as part of its Ranger Rehabilitation Trust Fund.

What's next for Energy Resources?

Energy Resource's near-term focus will be on completing its rehabilitation project.

During this time, the company said that it will attempt to maximise cash flow generation from its remaining inventories of drummed uranium oxide. As well as progress inorganic growth options for evaluation.

The Energy Resources share price is up 9.4% year-to-date.

The post Here's why the Energy Resources (ASX:ERA) share price is falling on Friday appeared first on The Motley Fool Australia.

Steep declines for the uranium sector

ASX uranium shares opened to a sea of red on Monday.

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN), is currently down 14.56% to 88 cents.

Energy Resources of Australia Limited (ASX: ERA) is another large uranium player, down 6.19% to 45.5 cents.

Advanced explorers such as Boss Energy Ltd (ASX: BOE) and Deep Yellow Limited (ASX: DYL) are down double digits, sinking 15.94% and 15.69% respectively.

At the smaller end of town, explorers such as Peninsula Energy Ltd (ASX: PEN), Bannerman Energy Ltd (ASX: BMN) and Vimy Resources Ltd (ASX: VMY) are also logging consistent declines, all down around 15% or more.

92 Energy Ltd (ASX: 92E) is the only ASX uranium share to tip higher, surging 28.3% to $1.025 after announcing a uranium discovery at its Gemini Project.

What's driving ASX uranium shares lower?

ASX 200 selloff

The ASX 200 is currently down 1.55% to a 2-month low of 7,289.

From iron ore to lithium, nothing is safe with a 4.3% plunge in the S&P/ASX Materials (INDEXASX: XMJ) Index.

The weakness in both the broader market and resources sector is likely a contributing factor in the panic taking place across ASX uranium shares on Monday.

Uranium sector pulls back

The Global X Uranium ETF (NYSE: URA), which invests in a broad range of companies engaged in uranium mining and nuclear components tumbled 7.83% last Friday.

The fund's top holdings include the world's largest listed uranium company, Cameco Corporation, and the world's largest producer, Kazatomprom.

Both Cameco and Kazatomprom fell sharply last Friday, down 6.53% and 4.42% respectively.

The fund also holds a number of ASX uranium shares including Paladin Energy, Boss Energy, Bannerman Energy, Deep Yellow and Peninsula Energy.

The post Why ASX uranium shares are diving double-digits on Monday appeared first on The Motley Fool Australia.

But not every ASX share has been sinking.

Far from it.

Below we take a look at the top performing ASX share of the week listed on the All Ords.

And with cryptocurrency fans in mind, we compare that to the week's top performing altcoin.

An altcoin, if you're not familiar, is any crypto other than Bitcoin (CRYPTO:BTC).

First up…

ASX uranium shares boosted by rocketing prices

The best performing ASX share this past week is Energy Resources of Australia Limited (ASX: ERA).

While it's down 1% today, the Energy Resources share price is up an eye-popping 41% since last Friday. And this for a company with a market cap of some $1.7 billion.

The ASX uranium miner is currently trading at 47 cents per share.

Investors have been driving up the share prices of most uranium explorers as the price of the nuclear fuel is soaring. Earlier in the week uranium spot prices hit US$48 per pound. That's a 9-year high.

Nations around the world are reconsidering uranium as a potential energy source. While there are clear radiation related concerns, including long term safe storage, uranium can provide power without carbon emissions.

News this week that Australia has inked a defence pact with the United States and the United Kingdom (dubbed AUKUS) and will eventually deploy 7 or more nuclear submarines has also sparked investor interest.

So how does the 41% 1-week gain from this leading ASX uranium share compare to the week's top crypto?

It's crypto by a nose

It's a pretty tight race this week, but altcoin Avalanche (CRYPTO: AVAX) beats out the top ASX share by a nose.

Spurred on by a 9% gain today, AVAX has gained 48% over the past week. One AVAX is currently trading for US$64.81, an all-time high.

That weekly leap makes it the 13th biggest crypto in terms of market cap. The total market value is now just over US$14.3 billion.

So, what is AVAX?

CoinMarketCap defines it as, "a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche".

And TechCrunch has some insight into why AVAX managed to beat the top performing ASX share this week.

Yesterday it reported that:

Avalanche completed a $230 million private sale of AVAX tokens to some well-known crypto funds. Polychain and Three Arrows Capital are leading the investment.

The Avalanche Foundation completed the private sale back in June 2021 and is disclosing it today.

Avalanche said it intends to use the funds to support its ecosystem.

The post This week's top ASX share versus top altcoin winner revealed appeared first on The Motley Fool Australia.

According to S&P Global, uranium spot prices rose sharply to a 9-year high of US$48/lb on Wednesday.

But for Australians looking for investment exposure in the energy metal, good luck trying to find an ASX exchange-traded fund (ETF) that focuses on uranium.

Why isn't there an ASX uranium ETF?

Uranium is a far less popular commodity than the likes of resources such as iron ore, copper or gold.

As a matter of fact, the energy metal doesn't even trade on an open market. Buyers and sellers typically negotiate contracts privately.

For investors looking to gain uranium exposure on the ASX, the most realistic option is to invest in individual energy companies.

The largest ASX-listed uranium player is Paladin Energy Ltd (ASX: PDN). The $2.7 billion company operates the "globally significant" Langer Heinrich Mine in Namibia. In March, Paladin Energy successfully raised $192.5 million to clear debt and pave the way to restart its uranium operations.

Energy Resources of Australia Limited (ASX: ERA) is another major player in the ASX-listed uranium space, boasting a market capitalisation of around $1.7 billion.

Paladin Energy and Energy Resources of Australia are arguably the most established uranium companies on the ASX. However, there's a number of emerging players and explorers to also choose from.

Boss Energy Ltd (ASX: BOE) is a $700 million uranium explorer operating the Honeymoon uranium project in South Australia. The company is looking to ramp up exploration activities to drive a final investment decision for Honeymoon in the next 12 months.

Other prospective explorers include Deep Yellow Limited (ASX: DYL), Peninsula Energy Ltd (ASX: PEN) and 92 Energy Ltd (ASX: 92E).

While there isn't exactly a diversified ASX uranium ETF, there are certainly a number of companies operating at different stages of the exploration and production lifecycle to investigate.

What about international markets?

The Global X Uranium ETF is listed on the New York Stock Exchange and provides investors access to a broad range of companies involved in both uranium mining and the production of nuclear components.

Another major uranium ETF is Sprott's Physical Uranium Trust, listed on Canada's Toronto Stock Exchange. The trust is the world's largest actively managed uranium fund that provides investment exposure to physical uranium.

The post Is there a uranium ETF listed on the ASX? appeared first on The Motley Fool Australia.

The price of uranium – a commodity needed to fuel nuclear reactors – has been soaring in recent weeks.

According to data from CNBC, the price of uranium has gained more than 60% since this time last month.

As a result, ASX uranium stocks including Deep Yellow Limited (ASX: DYL), Paladin Energy Ltd (ASX: PDN), and Energy Resources of Australia Limited (ASX: ERA), are on watch today.

What's causing the price of uranium to surge?

The price of uranium has been soaring in recent weeks, driving up the share prices of many ASX uranium shares.

S&P Global Platts reports the price of uranium is being driven higher by funds, investors, and producers increasing their holdings in the commodity.

The publication noted some partakers in uranium-buying believe there's a lack of supply. It also states some investors are enthused by nuclear's potential as an energy source in the age of climate change.

The increased prices, demand, and funds' buying the material to hold will likely bolster uranium production. It would also be good news for ASX uranium fans.

Additionally, ASX uranium enthusiasts' interest may be peaked by a new pact between Australia, the United States, and the United Kingdom. The security partnership, named AUKUS, aims to see nuclear-powered submarines navigating Australian waters.

As ABC News has reported today, under the AUKUS pact, Australia's submarines and their diesel-electric motors will be replaced with nuclear-powered counterparts.

The United Kingdom's Prime Minister, Boris Johnson, was clear in saying the submarines will not be equipped with nuclear weapons.

The talk of nuclear power in Australia might boost investors' sentiment of the uranium sector today. However, no companies have announced their involvement in the new submarines.

How are ASX uranium shares performing lately?

So far, the Deep Yellow share price has gained a massive 88% over the last 30 days.

Paladin's stock is besting that figure, boasting a 113% gain for the same period.

Finally, the Energy Resources of Australia share price is currently 70% higher than it was this time last month.

The post Why are ASX uranium shares in focus today? appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are charging higher:

Energy Resources of Australia Limited (ASX: ERA)

The Energy Resources of Australia share price is rocketing 29% higher to 42.5 cents. Investors have been buying the mineral exploration company's shares due to its exposure to the hottest commodity of the moment – uranium. Last week the spot uranium price hit a seven-year high after some rampant buying activity.

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot price is up 2% to $2.78. This follows the release of an update on the specialist chemicals company's Waggaman ammonia plant in Louisiana. According to the release, the plant was not materially damaged by Hurricane Ida. And while it is expected to be out of action for four weeks as power is restored to the area, this was a better-than-feared outcome. Management estimates that the disruption will hit its earnings by US$28 million before tax.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

The Sydney Airport share price is up 4.5% to $8.36. This follows the receipt of a revised indicative, conditional, and non-binding proposal from the Sydney Aviation Alliance. According to the release, the Sydney Aviation Alliance has proposed to acquire the airport operator for $8.75 cash per share. This represents a 9.4% premium to its last close price, which has been enough for it to be granted due diligence.

Talga Group Ltd (ASX: TLG)

The Talga share price is up 8.5% to $1.52. This morning the battery anode and advanced materials company announced that it has extended and expanded its memorandum of understanding with global technology leader ABB. The agreement now includes mine electrification plans.

The post Why Energy Resources of Australia, Incitec Pivot, Sydney Airport, & Talga are rising appeared first on The Motley Fool Australia.

ASX uranium shares deliver double-digit gains across the board

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN) is up 15% to 98 cents. Paladin owns the "globally significant" Langer Heinrich Mine in Namibia and is currently working towards restarting its operations.

Deep Yellow Limited (ASX: DYL) is another Namibian based player focused on progressing its prospective Tumas project. The Deep Yellow share price is currently 25.65% higher to an 8-year high of $1.20.

Peninsula Energy Ltd (ASX: PEN) made a strategic move to raise $15 million in May to purchase 300,000 pounds of uranium at US$31.35/lb. In addition to holding physical uranium, the company is looking to fast-track its US-based Lance Uranium project into production. At the time of writing, the Peninsula share price is up 25% to 27.5 cents.

Other ASX uranium shares include newly listed explorer 92 Energy Ltd (ASX: 92E) and large cap producer Energy Resources of Australia Limited (ASX: ERA) which are up 31% and 30% respectively.

Why is the uranium sector suddenly booming?

In the world of S&P Global, "A Canadian investment fund almost singlehandedly launched uranium spot prices into orbit with a buying spree that has put the nuclear power industry on alert."

The fund that S&P Global is referring to is Sprott Inc and its Physical Uranium Trust (SPUT).

SPUT is the world's largest actively managed uranium fund focused on providing investors with exposure to physical uranium.

According to S&P Global, the fund's thesis is quite simple, "If they were given funding, they would purchase material out of a spot market that was flooded with excess supply following the 2011 nuclear disaster at Fukushima Daiichi in Japan."

SPUT's aggressive move to buy uranium off the spot market has driven a sudden re-rate for both uranium spot prices and ASX uranium shares.

But Sprott says that this is just the beginning.

In an interview with Kitco News, Sprott director Rick Rule said:

Sprott is going to make an application to list that trust on the New York stock exchange, where the overwhelming majority of the volume that [investors] enjoy in their precious metals trusts occurs. If that happens in terms of inflows into the trust, if the material is available to buy in the spot market quote, then you ain't see nothing yet.

The post ASX uranium shares are booming double digits across the board on Monday. Here's why. appeared first on The Motley Fool Australia.

Uranium spot prices have been in a prolonged bear market, plunging from around US$136/lb in 2008 to below US$30/lb between mid-2016 and early-2020.

It wasn't until last week that uranium prices jumped to a six-year high of US$35/lb, largely thanks to one fund aggressively buying out the physical uranium market, tightening the market.

"A new bull market" for uranium

The bullish performance of the underlying commodity has helped ASX uranium shares surge in the past few weeks.

The jump in uranium prices has been fueled by the aggressive buying from investment firm, Sprott Inc.

Sprott launched its Physical Uranium Trust (SPUT) in July this year and emerged as the world's largest actively managed uranium fund.

According to Bloomberg, Sprott has amassed over 24 million pounds of uranium.

To add some perspective, uranium investment firm Yellow Cake PLC reported total spot volume for 2020 of 92.2 million pounds.

In a Kitco News interview with Sprott's CEO Peter Grosskopf, he said the fund was a "game-changer" for the uranium market.

"We think uranium is entering a new bull market as the world looks for a mix of clean energy in the new green energy revolution."

"If you want a low carbon grid, you can achieve it by spending an enormous amount of money and having a highly inefficient grid, which is inherently unstable, or you include nuclear as a core part of the power base. We think uranium has been underplayed for the last 15 years," he added.

The recent developments have helped ASX uranium shares jump to multi-year highs. However, it isn't uncommon to see share prices down more than 90% from 2007-2008 highs.

Uranium demand on the rise

Uranium demand has dwindled following Japan's Fukushima nuclear power plant disaster in 2011.

The energy metal has re-entered the spotlight given its 'green' nature and recent global focus on climate change.

Sprott Asset Management CEO John Ciampaglia told Barron's that "Demand from nuclear reactors is expected to increase by a few percentage points per year as new reactors come online."

"There's also strong demand from non-utility buyers, with some uranium developers recently raising equity capital and "parking the proceeds into physical uranium."

This has been the case for ASX uranium shares such as Peninsula Energy Ltd (ASX: PEN), which opted to raise $15 million in May to fund the purchase of 300,000 lb of uranium.

Similarly, Paladin Energy Ltd (ASX: PDN) raised $192.5 million in March to strengthen its balance sheet in preparation for the restart of its uranium operations.

In the case of recently listed 92 Energy Ltd (ASX: 92E), the company became the first pure-play uranium company to list on the ASX in more than a decade.

Any other notable ASX uranium shares?

Paladin Energy is the largest ASX-listed uranium player with a market capitalisation of $2.1 billion.

Besides Paladin, there are a number of early-to-late stage explorers including  Boss Energy Ltd (ASX: BOE), Deep Yellow Limited (ASX: DYL), Vimy Resources Ltd (ASX: VMY) and Energy Resources of Australia Limited (ASX: ERA).

The post ASX uranium shares are booming: What's all the hype about? appeared first on The Motley Fool Australia.