This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share with short interest of 10.7%, which is down slightly week on week. Short sellers may believe that revenue margin headwinds will weigh on its performance.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.8%, which is up week on week again. A number of brokers continue to believe that this lithium miner is overvalued based on its mineral resource.
• Lake Resources N.L. (ASX: LKE) has 9.1% of its shares in the hands of short sellers, which is up again since last week. Short sellers don't appear to believe that recent lithium price strength will last.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest rise to 8.25%. This lithium developer's shares fell last week after announcing a surprise $200 million capital raising.
• Megaport Ltd (ASX: MP1) has leapt back into the top ten with short interest of 8.2%. Short sellers may believe that the market is too optimistic on this network as a service operator's outlook.
• Jervois Global Ltd (ASX: JRV) has 8% of its shares held short, which is down week on week. This cobalt developer's shares have crashed deep into the red since suspending the final construction of the Idaho Cobalt Operation.
• AMA Group Ltd (ASX: AMA) has seen its short interest rise to 7.9%. Short sellers may be targeting this crash repair company due to its precarious balance sheet.
• Zip Co Ltd (ASX: ZIP) has short interest of 7.6%, which is down week on week again. Some short sellers may be closing positions following news of favourable regulatory changes.
• Breville Group Ltd (ASX: BRG) has entered the top ten with 7.6% of its shares held short. This may be due to concerns over how the cost of living crisis could impact demand for appliances.
• Temple & Webster Group Ltd (ASX: TPW) has returned to the top ten with 7.6% of its shares in the hands of short sellers. Short sellers don't appear confident that this online furniture retailer's improving sales will last.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues its long run as the most shorted ASX share despite its short interest pulling back to 10.8%. Concerns over revenue margin headwinds may be behind this.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.3%, which is up strongly week on week. A number of brokers say that this lithium miner is seriously overvalued.
• Lake Resources N.L. (ASX: LKE) has 8.9% of its shares in the hands of short sellers, which is up again since last week. Fears that lithium prices could fall heavily may be behind this.
• Jervois Global Ltd (ASX: JRV) has 8.5% of its shares held short, which is flat week on week. This cobalt developer has suspended the final construction of the Idaho Cobalt Operation due to weak prices of the battery material.
• Appen Ltd (ASX: APX) has short interest of 8.2%. which is down sharply since last week. This artificial intelligence data services company's worrying trading update has spooked investors.
• Select Harvests Ltd (ASX: SHV) has 8.1% of its shares held short, which is up slightly since last week. Analysts are forecasting a very large loss from the almond producer in FY 2023.
• Zip Co Ltd (ASX: ZIP) has short interest of 8%, which is down week on week. The market appears to believe regulatory changes could be an issue. Though, Zip believes it is well-placed to benefit.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest remain flat at 8%. This lithium developer has just announced a $200 million capital raising.
• AMA Group Ltd (ASX: AMA) is back in the top ten with short interest of 7.8%. This crash repair company's precarious balance sheet appears to have the market concerned.
• JB Hi-Fi Limited (ASX: JBH) has entered the top ten with 7.15% of its shares held short. Concerns about weak consumer spending seems to be behind this.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share after its short interest rose slightly again to 11.9%. Short sellers appear convinced the market is expecting too much from the travel agent giant.
• Appen Ltd (ASX: APX) has jumped into the top ten with short interest of 9.8%. A recent abject trading update shocked the market and sent the artificial intelligence data services company's shares crashing deep into the red. Short sellers don't appear to believe the pain is over.
• Zip Co Ltd (ASX: ZIP) has short interest of 9.8%, which is down week on week. This appears to be due to concerns about its profitability goals and regulatory challenges.
• Core Lithium Ltd (ASX: CXO) has short interest of 8.8%, which is flat week on week. Valuation concerns seem to be behind this high level of shorting.
• Lake Resources N.L. (ASX: LKE) has 8.7% of its shares in the hands of short sellers, which is up strongly since last week. Short sellers aren't giving up on this lithium developer despite a strong rebound by its shares.
• Pointsbet Holdings Ltd (ASX: PBH) has 8.6% of its shares held short, which is up slightly week on week. The sports betting company's decision to sell its US business hasn't gone down too well with investors.
• Jervois Global Ltd (ASX: JRV) has 8.5% of its shares held short, which is down slightly week on week again. This cobalt developer recently suspended the final construction of the Idaho Cobalt Operation due to weak prices of the battery material.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest fall to 8%. Sayona Mining is another lithium share that short sellers are going after amid falling battery material prices.
• Select Harvests Ltd (ASX: SHV) has entered the top ten with 8% of its shares held short. Analysts are forecasting a very large loss from the almond producer in FY 2023.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest rise to 7.7%. Short sellers will have been disappointed to see this online retailer's shares rocket higher last week following a positive trading update.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues its long run as the most shorted ASX share after its short interest rose slightly to 11.8%. Short sellers aren't giving up on this one despite a recent trading update coming in strong. Revenue margin headwinds appear to be the chief concern of short sellers.
• Zip Co Ltd (ASX: ZIP) has short interest of 10.25%, which is down week on week. Profitability and regulatory concerns seem to be behind this.
• Core Lithium Ltd (ASX: CXO) has short interest of 8.8%, which is down week on week. Short sellers will be frustrated to have seen this lithium miner's shares rocket higher last week after further M&A activity in the industry.
• Jervois Global Ltd (ASX: JRV) has 8.6% of its shares held short, which is down week on week. The suspension of the final construction of the Idaho Cobalt Operations has hit this company's shares hard.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest ease to 8.5%. Sayona Mining's shares also rose strongly last week amid further lithium M&A activity.
• Pointsbet Holdings Ltd (ASX: PBH) has 8.45% of its shares held short, which is up slightly week on week. Short sellers appear concerned by this sports betting company's huge cash burn in a highly competitive industry.
• Lake Resources N.L. (ASX: LKE) has 8% of its shares in the hands of short sellers, which is down since last week. An almost 20% gain last week by this lithium developer's shares will have been hard for short sellers to take.
• AMA Group Ltd (ASX: AMA) has 7.7% of its shares held short, which is down week on week. This smash repair company's balance sheet is in a very precarious state.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest ease to 7.6%. Traders appear to believe the housing market downturn and a return to offline shopping could mean this online retailer underperforms.
• Megaport Ltd (ASX: MP1) has seen its short interest fall again to 7.4%. Short sellers have been closing positions since this network as a service company released a very positive trading update and guidance.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) is still the most shorted ASX share after its short interest remained flat at 11.7%. Short sellers will have been disappointed to see the travel agent's shares rise on a strong update last week.
• Zip Co Ltd (ASX: ZIP) has short interest of 10.9%, which is up week on week again. It seems that some traders doubt that this buy now pay later provider will achieve its profit goals.
• Jervois Global Ltd (ASX: JRV) has 9.4% of its shares held short, which is up strongly week on week again. Short sellers have been loading up on this cobalt developer's shares after it suspended the final construction of the Idaho Cobalt Operations. The company made the move due to low cobalt prices and has already spent US$130 million on its construction.
• Core Lithium Ltd (ASX: CXO) has short interest of 9%, which is up week on week. Traders appear to believe that investors are valuing this lithium miner incorrectly.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest ease to 8.9%. Weak lithium prices are likely to be behind this.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest ease a touch to 8.4%. There are concerns that the housing market downturn and a return to offline shopping could be hitting this online furniture retailer hard.
• Lake Resources N.L. (ASX: LKE) has 8.4% of its shares in the hands of short sellers. Weak lithium prices and funding concerns appear to be behind this high level of short interest.
• Pointsbet Holdings Ltd (ASX: PBH) has returned to the top ten with 8.4% of its shares held short.  Unfortunately for short sellers, the sports betting company's shares rose 17% last week. This appears to have been driven by speculation that a divestment could be in the works.
• AMA Group Ltd (ASX: AMA) has 8.2% of its shares held short, which is up week on week. Short sellers seem to be targeting the smash repair company due to the terrible state of its balance sheet.
• Megaport Ltd (ASX: MP1) has seen its short interest fall significantly to 8%. Short sellers have been closing positions in a hurry after this network as a service company released a very positive trading update.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share even though its short interest eased slightly to 11.7%. There are concerns that airlines may not be offering as much margin to travel agents due to a lack of competition.
• Megaport Ltd (ASX: MP1) has seen its short interest ease a touch to 11.1%. Short sellers may be regretting this one. They appear to have been caught up in a short squeeze last week after a stronger than expected update sent this network as a service company's shares rocketing over 40% higher.
• Zip Co Ltd (ASX: ZIP) has short interest of 10.3%, which is up slightly week on week. Traders appear to be betting against this buy now pay later provider achieving its profit goals.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest rebound to 9.1%. Short sellers continue to target the lithium industry due to continued weakness in prices of the battery making ingredient.
• Core Lithium Ltd (ASX: CXO) has short interest of 8.9%, which is down slightly week on week again. This lithium miner's shares trade at a significant premium to peers according to some brokers.
• Jervois Global Ltd (ASX: JRV) has 8.5% of its shares held short, which is up week on week. This cobalt developer recently suspended the final construction of the Idaho Cobalt Operations due to low cobalt prices. It has already spent US$130 million on its construction.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest remain flat at 8.5%. The housing market downturn and shift back to offline shopping appear to be weighing on sentiment.
• Lake Resources N.L. (ASX: LKE) has 8.3% of its shares in the hands of short sellers. This is another lithium share being targeted by short sellers amid falling battery material prices.
• JB Hi-Fi Limited (ASX: JBH) has short interest of 8%, which is down week on week. Short sellers may believe that this retail giant's sales could suffer due to the housing market downturn and cost of living crisis.
• AMA Group Ltd (ASX: AMA) has 7.9% of its shares held short. This may be due to concerns over the state of this smash repair company's balance sheet.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues its long run as the most shorted ASX share after its short interest remained flat at 11.8%. Short sellers appear to believe that revenue margin headwinds will weigh on its performance.
• Megaport Ltd (ASX: MP1) has seen its short interest ease a touch to 11.2%. Slowing growth and the shock departure of this network-as-a-service company's CEO and CFO have caught the eye of short sellers.
• Zip Co Ltd (ASX: ZIP) has short interest of 10.2%, which is flat week on week. This high level of interest may have been driven by regulatory concerns and doubts over its profit goals.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.1%, which is down slightly week on week. A number of brokers believe this lithium miner's shares are overvalued compared to peers.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest fall to 9%. Short sellers aren't giving up on this lithium miner despite the recent restart of its NAL project.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest rise to 8.5%. Short sellers may believe that this online furniture retailer could be struggling with the housing market downturn, cost of living crisis, and shift back to offline shopping.
• Jervois Global Ltd (ASX: JRV) has entered the top ten with 8.2% of its shares held short. This cobalt developer's shares have been crushed this year after it suspended the final construction of the Idaho Cobalt Operations due to continuing low cobalt prices. Jervois has already spent US$130 million on its construction.
• JB Hi-Fi Limited (ASX: JBH) has short interest of 8.1%, which is up week on week. Short sellers appear to believe that this retail giant's sales could suffer because of the housing market downturn and cost of living crisis.
• AMA Group Ltd (ASX: AMA) is back in the top ten with 7.6% of its shares held short. This smash repair company's balance sheet is in a terrible state and could require a major recapitalisation.
• Pointsbet Holdings Ltd (ASX: PBH) has also returned to the top ten with 7.5% of its shares in the hands of short sellers. Intense competition and its ongoing cash burn appear to be behind this.

The post These are the 10 most shorted ASX shares this week appeared first on The Motley Fool Australia.

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

Jervois Global Ltd (ASX: JRV)

The Jervois Global share price is down a further 12% to 5.9 cents. Investors have been selling this cobalt developer's shares this week after it suspended the construction of its cobalt operation in the United States. Management made the move in response to low cobalt prices and inflationary pressures. Jervois Global has already spent US$130 million on its construction. It will aim to resume work once cobalt prices recover.

Mincor Resources NL (ASX: MCR)

The Mincor share price is down 5% to $1.42. This has been driven by the release of an update on the nickel miner's guidance. Mincor has been having issues creating a blended product that meets the specifications of BHP Group Ltd (ASX: BHP). And with BHP unwilling to amend its off-take terms, management has been forced to withdraw its guidance. Mincor also advised that it will stockpile any ore that BHP indicates will not be accepted due to product specification requirements.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is down over 1% to $26.30. Investors have been selling Newcrest and other gold miners today after the gold price fell overnight. Traders were selling the safe haven asset after risk sentiment improved.

Santos Ltd (ASX: STO)

The Santos share price is down 1% to $6.92. Softer oil prices appear to have put pressure on Santos and other energy shares today. This was driven by a stronger US dollar and concerns over higher than expected supply from Russia. According to CNBC, Russian production fell by 300,000 barrels a day during the first three weeks of March. Whereas the market was expecting it to fall by 500,000 barrels.

The post Why Jervois Global, Mincor, Newcrest, and Santos shares are dropping today appeared first on The Motley Fool Australia.

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

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is down 2.5% to $8.54. Investors have been selling this regional bank's shares following the release of a broker note out of UBS. Its analysts have downgraded the bank's shares to a sell rating and slashed their price target to $8.00. It expects rising funding costs, higher than expected bad debts, and intense competition for deposits to weigh on its performance.

Jervois Global Ltd (ASX: JRV)

The Jervois Global share price has crashed 40% to 6.9 cents. This has been driven by news that the company has suspended the construction of its cobalt operation in the United States. Management made the move in response to low cobalt prices and inflationary pressures. The company has already spent US$130 million on its construction. It aims to resume work once prices recover.

Megaport Ltd (ASX: MP1)

The Megaport share price is down 5% to $4.00. This means the network services provider's shares have given back all of yesterday's gains and some more. Although it named its new CEO on Tuesday, it also revealed the exit of its CFO with immediate effect. Investors may be concerned that all is not well behind the scenes at Megaport. Its previous CEO quit abruptly earlier this month.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is down 2% to $27.11. This also appears to have been driven by a broker note out of UBS. Its analysts have become bearish on NAB for the same reasons and have downgraded its shares to a sell rating. They have also slashed their price target by $8 to $25.00.

The post Why Bendigo and Adelaide Bank, Jervois Global, Megaport, and NAB are dropping today appeared first on The Motley Fool Australia.

In morning trade, the ASX All Ords mining share is down 30% to a 52-week low of 8.1 cents.

Why is this ASX All Ords mining share crashing?

Investors have been hitting the sell button in a panic this morning after the ASX All Ords mining share released an update on its Idaho Cobalt Operations in the United States.

According to the release, the company has suspended the final construction at the Idaho Cobalt Operations due to continuing low cobalt prices and inflationary impacts on construction costs.

Management believes that doing so will preserve the value of its ore body, allowing it to capitalise on better prices in the future.

In respect to pricing, Jervois expects cobalt prices to recover over the medium term. This is due to the clean energy transition and the company's expectation that Western cobalt purchasers will increasingly prefer to buy from sources with Western ESG credentials.

The company intends to complete the construction and commissioning of Idaho Cobalt Operations once this happens. It has already spent US$130 million on construction activities.

Interestingly, despite suspending construction, Jervois believes it can still receive funds from the US Government in relation to programs that financially support the development of U.S. supply chains of critical minerals.

Management also advised that its US$100 million senior secured bonds remain due in July 2026, with no prior amortisation. However, it remains in compliance with its bond covenants and there is not expected to be an adverse impact on the bonds following the suspension of construction.

Finally, the ASX All Ords mining share has commenced a review of the operation's carrying value on its balance sheet, in accordance with applicable accounting standards.

The post Why did this ASX All Ords mining share just crash 30%? appeared first on The Motley Fool Australia.

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

Computershare Limited (ASX: CPU)

The Computershare share price is down 3% to $26.21. This could be due to profit taking after a strong gain on Thursday and the latest inflation reading in the United States. With inflation coming in lower than expected, investors are betting that interest rates may not rise as much as feared. This would be a negative for Computershare given its positive leverage to rising rates.

Jervois Global Ltd (ASX: JRV)

The Jervois Global share price is down 19% to 40.7 cents. This follows the completion of a $231 million institutional placement and entitlement offer. The mineral exploration company raised the funds at a discount of 42 cents per share. The proceeds will be used to support the restart of the São Miguel Paulista refinery in Brazil, ramp up Idaho Cobalt Operations in the United States, and progress a bankable feasibility study for expansion of its cobalt refinery capacity in Finland.

Origin Energy Ltd (ASX: ORG)

The Origin share price is down 3.5% to $7.55. This may have been driven by profit taking after a huge gain on Thursday following the receipt of a takeover approach. In addition, concerns that the $18.4 billion deal may not get approved by regulators could be weighing on sentiment today. Origin is trading well below the offer price of $9.00 cash per share.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 5% to $7.91. Investors have been hitting the sell button on Friday amid concerns the government could introduce temporary taxes on coal miners. When asked about the potential for a new temporary tax on gas and thermal coal, Prime Minister Anthony Albanese said: "Well, what we know is that we can't just sit back and watch while energy prices go through the roof for households and for businesses."

The post Why Computershare, Jervois Global, Origin, and Whitehaven Coal shares are sinking appeared first on The Motley Fool Australia.

Shares in the environmental technology company have clawed back some ground and are currently swapping hands at $4.62, still 15.7% lower than the company's closing price of $5.48 yesterday.

Calix has plunged alongside the materials sector, which is currently the worst-performing sector in the ASX by a substantial margin.

The S&P/ASX 200 Materials Index (ASX: XMJ) is down 3.37%, while the S&P/ASX 200 Index (ASX: XJO) is now fielding a 0.47% loss. The All Ordinaries (ASX: XAO) is down with a 0.58% loss.

It shouldn't be surprising then that Calix is not the only materials share that's taking a beating. Sector peers such as Bellevue Gold Ltd (ASX: BGL) and Jervois Global Ltd (ASX: JRV) are down 3.25% and 4.42% respectively.

But why is the Calix share price falling further than its peers on Friday? One likely explanation is that it made a negative announcement to the market this morning. Let's cover what happened.

Government withdraws carbon capture technology program

Calix has been informed that the Federal Government will not proceed with its previously announced carbon capture, use and storage (CCUS) hubs and technologies program.

The initiative was first revealed as part of the Federal budget on 25 October, and Calix was due to receive $11 million in funding, which has now been cancelled.

The funds were earmarked for a joint project between Calix and Adbri Ltd (ASX: ABC) to develop low-emissions lime.

However, the Government is due to open a new carbon capture technologies program in 2023, and will reportedly allocate $141.1 million in grants over ten years to projects that support this effort.

Calix said it was waiting on more details from the government about this program while also pursuing alternative forms of government funding at regional and state levels.

What did management say?

Responding to the news, Calix managing director and CEO Phil Hodgson said:

Calix acknowledges our partners for their commitment to achieving carbon neutral cement and lime. We are also grateful for the Australian Government's support of carbon capture and storage technologies for cement and lime, which is an essential technology to mitigate the unavoidable production of CO2 during the cement and lime manufacturing process.

Hodgson continued:

We believe the Leilac technology can also play an important role in urgently decarbonising this essential and hard-to-abate sector of the Australian economy. We look forward to continuing to work with Australian governments and industry to help achieve Australia's emissions reduction targets.

Calix share price snapshot

The Calix share price is down 33.46% year to date. In comparison, the S&P/ASX 200 Index has lost 8.64% over the same period.

The company's market capitalisation is around $1.02 billion.

The post Why did this ASX All Ordinaries share crash 18% today? appeared first on The Motley Fool Australia.

But most of the ASX shares exploring for and producing cobalt are on the microcap and small-cap end of the spectrum.

We look at three of the larger companies below.

But first…

What is cobalt?

A hard, shiny, greyish metal, cobalt is a highly conductive metal. It has numerous uses, including adding colour to glass and ceramics.

But we suspect its cobalt's use in aircraft engine parts and its prevalence in lithium-ion batteries, computers and mobile phones that has seen the Australian government list the metal as a critical mineral.

The government reports that Australia has high geological potential for cobalt, with a 2020 economic demonstrated resource of 1.5 million tonnes. In 2020, Australian miners produced 5,600 tonnes of cobalt, out of a total global production of 135,000 tonnes.

Only Russia and the Democratic Republic of Congo, which mines some 70% of total global cobalt, produced more.

With that said, which ASX shares are digging for cobalt?

Three ASX shares cashing in on cobalt

First up we have Jervois Global Ltd (ASX: JRV).

With a market cap of $1.2 billion, it's the biggest of the ASX shares with a strong focus on cobalt.

The company is on track to start production at its Idaho Cobalt Operations, the only cobalt mine in the United States. It's also a specialty cobalt chemicals producer at Jervois Finland.

And the Jervois share price has been riding high amid booming demand for battery metals, with shares up 29% year-to-date.

Next up we have Ardea Resources Ltd (ASX: ARL), with a market cap of $206 million.

Ardea Resources' Kalgoorlie Nickel Project, located in Western Australia, is the largest nickel-cobalt resource in the developed world. It's been awarded 'major project status' by the Australian government.

The company is another beneficiary of the booming demand for battery metals, helping send its share up a whopping 171% so far in 2022.

This brings us to our third ASX share focused on cobalt, the aptly named Cobalt Blue Holdings Ltd (ASX: COB).

Cobalt Blue has a market cap of $253 million.

The ASX share reports that it's poised to become one of the world's largest cobalt producers on the back of its Broken Hill Cobalt Deposit, in New South Wales. According to the company website, "If Broken Hill were a country, it would rank number 5 for cobalt production".

The Cobalt Blue share price is another stellar performer this year, up 62% since the opening bell on 4 January.

You can find also find out which ASX shares are cashing in on lithium and vanadium in more of our 'Mineral Monday' series.

The post Mineral Monday: What you need to know about cobalt and which ASX shares are cashing in on it appeared first on The Motley Fool Australia.

Cobalt Blue shares rocketed an impressive 30.9% over the course of last week, rising from 55 cents per share to 72 cents. That puts Cobalt Blue up around 44% in 2022 so far.

So what has happened to give investors such a surge of optimism over the last week?

Cobalt Blue share price charges up

Well, it has to be said that it's not entirely clear. Cobalt Blue's Broken Hill Cobalt Project was granted 'major project status' recently.

This development means Cobalt Blue will receive government support for the project, which aims to produce "high quality, battery-ready cobalt sulphate". This sparked a surge of optimism for the Cobalt Blue share price at the time as it surged by more than 20% at one point. But that was made public on 2 March, more than a week ago.

But we could also be seeing a general rise in investor sentiment towards Cobalt Blue and other ASX cobalt shares. As my Fool colleague Mitchell reported on Friday, the price of raw cobalt itself has been surging of late.

The metal is a key ingredient inside many lithium-ion rechargeable batteries, itself a huge growth industry. As such, investors and suppliers alike have been keen to secure a piece of the market.

Cobalt Blue is one of the biggest cobalt plays on the ASX. But it is not the only cobalt company to have enjoyed some recent gains. Jervois Global Ltd (ASX: JRV) is another ASX cobalt share. Although Jervois didn't have quite the week that Cobalt Blue had, its shares are still up an impressive 44% or so over the past six months.

At the current Cobalt Blue share price, this ASX resources share has a market capitalisation of $213.6 million.

The post Why did the Cobalt Blue (ASX:COB) share price rocket 30% in a week? appeared first on The Motley Fool Australia.

While it may not have the same notoriety as lithium, cobalt has become a staple of lithium-ion battery chemistries. Its application helps ensure the cathodes in batteries do not overheat, extending the economical life of a typical electric vehicle (EV) battery.

Let's take a look at what is playing out in the cobalt world.

Tailwinds aplenty for commodity

Unlike some of the other commodities experiencing runaway prices, the surge in the price of cobalt has been playing out over a longer timespan.

Projections — such as those from McKinsey — suggest that one in four vehicles on the road will be electric by 2030. These expectations have fed into higher cobalt prices as manufacturers look to shore up future supply.

According to Trading Economics, the cobalt price is hovering around US$82,000 per tonne. This represents an increase of approximately 56% compared to a year ago. Such a substantial increase has also boosted ASX cobalt shares.

The commodity's price has been steadily climbing during the past year. However, it appeared to plateau just above US$70,000 per tonne between late December to mid-February.

Although, Russia's invasion of Ukraine and subsequent sanctions might be behind the latest uptick.

According to information published by the US Geological Survey, Russia was the second-largest producer of cobalt in 2021 with 7,600 tonnes.

In total, Russia's cobalt supply made up around 4.5% of the world's production. Though, this is dwarfed by the ~70% contributed by Congo.

What about cobalt shares on the ASX?

Cobalt Blue Holdings Ltd (ASX: COB) is one ASX-listed cobalt explorer that has shuffled into the spotlight recently. The company was granted "major project status" by the Federal government last week as Australia looks to play a key role in the supply of the booming commodity.

Furthermore, Cobalt Blue's Broken Hill Cobalt Project plans to produce 16,700 tonnes per year. Based on our previously referenced figures, this would slot Australia in at number two of global cobalt producers.

Another ASX cobalt share riding the price rise is Jervois Global Ltd (ASX: JRV). The billion-dollar cobalt company has enjoyed a 28% jump in its share price since the new year ticked over.

The post Why is everyone talking about ASX cobalt shares this week? appeared first on The Motley Fool Australia.

Shares in the company — formerly Jervois Mining — are on the move after it made an announcement earlier today. They are now exchanging hands at 51 cents apiece, a 5.15% jump on the day.

Let's investigate further.

What did Jervois announce?

In what investors deemed a positive for the Jervois Global share price, the company announced it had completed the "US$160 million acquisition of Freeport Cobalt". It also nabbed four "affiliated entities" as a part of the transaction.

Total transaction costs came in at US$192 million when including working capital, to reflect the "higher cobalt inventory acquired".

The acquisition "aims to consolidate the transformation" of the company into a "global, vertically integrated cobalt and nickel company of scale".

In addition, the acquisition could potentially turn Jervois into the "second-largest producer of refined cobalt outside of China".

To finance the transaction, Jervois completed a month-long "accelerated non-renounceable entitlement offer" on 25 August. There it raised a total of A$313 million when combined with both retail and institutional tranches of the placement.

In addition, Mercuria, "one of the largest energy and commodity traders" as per the release, invested AU$45.7 million according to the company. Australian Super also increased its investment by AU$73.9 million.

What did the company have to say?

In the announcement, Jervois Global said:

Jervois confirms it has closed its previously announced acquisition of 100% of Freeport Cobalt by purchasing all the shares of Freeport Cobalt Oy and four affiliated entities from Koboltti Chemicals Holdings Limited. Jervois has purchased an operating global leader in the cobalt industry, with an established market platform that is diversified by product and value chain segment.

Jervois Global share price snapshot

The Jervois Global share price has gained 44% this year to date, and 84% over the past 12 months.

These results have outpaced the S&P/ASX 200 index (ASX: XJO)'s climb of around 25% over the past year.

The post Jervois Global (ASX:JRV) share price up 5% on Freeport Cobalt acquisition appeared first on The Motley Fool Australia.