In morning trade, the ASX gold stock jumped as much as 41% to 17 cents.

Its shares have faded since then but remain up 12.5% to 13.5 cents at the time of writing.

Why did this ASX gold stock rocket?

Investors were fighting to get hold of the company's shares this morning after it released the scoping study for the 100%-owned Sturec Gold Mine in central Slovakia.

According to the release, the study has delivered highly encouraging economics and technical viability, highlighting the Sturec Gold Mine's potential to become a low-cost gold and silver concentrate producer.

Management advised that the study confirms that the mine can support a base case scenario with an underground-only mining operation delivering gold and silver concentrate production of ~1.134M ounces of production over an initial mine life of 9 years at 2.3Mtpa plant production capacity.

The life of mine (LoM) operating cost is estimated to be US$927 per ounce, which delivers robust operating margins based on a forecast long-term gold price of US$1,850 per ounce.

This gives the project a pre-tax net present value (8% discount rate) of US$506 million (A$791 million) with an internal rate of return (IRR) of 116%.

Furthermore, if a conservative gold price of US$1,550 per ounce is assumed, it still has an after tax net present value of US$239 million (A$376 million).

This compares to the company's current market capitalisation of approximately $30 million.

'Significant milestone'

The ASX gold stock's director, Gino D'Anna, commented:

Completion of Sturec's updated Scoping Study marks a significant milestone achievement for the Company and brings with it the rebirth of one of Slovakia's historic mining operations, reinvigorating opportunity for the local communities within the region.

The Scoping Study has demonstrated potential for a robust mining operation at Sturec with a forecast AISC of US$927/oz AuEq and a capital payback of 2.3 years (post-tax) from first production. It has been completed to a very high quality with 78% of the mining inventory based on Measured and Indicated Resources, and only 22% in the Inferred category. Importantly, the production target demonstrates that only 40% of the current JORC (2012) Mineral Resource has been mined with the underpinning the substantial project and economic upside that exists alongside the significant JORC (2012) Exploration Target demonstrating further upside.

Metalstech will now move towards a pre-feasibility study for Sturec.

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For example, the two lithium stocks listed below are up at least 25% during today's session. But why are they on fire today? Let's find out.

Lithium Power International Ltd (ASX: LPI)

The Lithium Power share price is up 27% to 33 cents. This follows the company's response to speculation that it is in discussions with Corporación Nacional del Cobre de Chile (Codelco) about a potential transaction.

Lithium Power confirmed that it is in talks with Codelco but these discussions are incomplete and no agreement on terms has been reached. Nevertheless, Codelco has been granted due diligence and is continuing to undertake its investigations. Management also warned that there is no certainty that the discussions with Codelco will lead to a transaction.

Metalstech Ltd (ASX: MTC)

The Metaltech share price is up 55% to 26.5 cents. Investors have been buying this Canada-based ASX lithium stock after it announced a key appointment. Metalstech advised that it has appointed Robert Sills as its non-executive technical director to the board, effective immediately.

The release notes that Sills has an extensive global network and a distinguished 28-year career in critical materials, actively engaging with global downstream processors seeking to bolster supply chain resilience and enhance ESG credentials within their respective lithium-ion battery supply chains.

He has previously held senior operational roles at Essential Metals Ltd (ASX: ESS), Core Lithium Ltd (ASX: CXO) and Rio Tinto Ltd (ASX: RIO). At Core Lithium, he was responsible for the development and establishment of cornerstone offtake partners. Sills also drove the establishment and execution of Core Lithium's Direct Shipping Ore (DSO) tender.

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At the time of writing, the gold and lithium explorer is trading around 11% higher at 40.5 cents apiece following the release of a company announcement.

Metalstech has caught a large bid today with investors driving the share price higher on a volume nearly 3 times the 4-week trading average.

What did Metalstech announce?

The company announced the results of the scoping study concerning its fully-owned Sturec Gold Mine in Slovakia.

The release notes the study results indicate that "project economics and technical viability are highly encouraging" in the company's quest to become a low-cost gold concentrate producer.

Projections from the study indicate the Sturec mine could support gold and silver production of around 1 million ounces over an initial mine life of 15 years open cut and 10 years underground.

It also showed plant capacity could reach up to 1.5 million tonnes per annum. Based on the current gold price of US$1,780/oz, Metalstech says the net present value (NPV) of the project is A$512 million.

This is built on the fact mining at Sturec exhibits an operating margin in excess of 267%, the company says.

Speaking on the results, CEO Gino D'Anna said the study brings the "rebirth of one of Slovakia's historic mining operations".

"The scoping study has demonstrated potential for a robust mining operation at Sturec with a forecast [all-in sustaining cost] of US$754/ounce and a capital payback period of 2.3 years (post-tax) from first production", he added.

The Metalstech share price is up more than 122% in the past 12 months, or 40% this year to date.

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Mont Royal Resources shares are surging more than 15% at the time of writing.

For perspective, the S&P/ASX 200 Index (ASX: XJO) is also 0.91% in the red today.

So which two mining companies are bucking this trend on the back of drilling results?

Mont Royal Resources Ltd (ASX: MRZ)

The company is exploring nickel and copper at the Wapatik project in Quebec, Canada. In today's news, Mount Royal reported "massive" nickel and copper sulfide mineralisation at the company's maiden 1,000 metre diamond drilling expedition. At drill hole WAP22-003, the company found 2.68% nickel, 1.3% copper and 0.09% cobalt. This spanned 3.3 metres from 143.4 to 146.7 metres.

The next stage of drilling is now underway. Mont Royal will update shareholders on these results in the future. Commenting on the news, executive director Peter Ruse said:

The discovery of this massive sulphide mineralisation is a major step in advancing our exploration plans at the Project.

MetalsTech (ASX: MTC)

The MetalsTech share price is soaring a mammoth 23% today. MetalsTech is exploring the Sturec gold mine in Slovakia. The company also has a lithium project in Quebec. MetalsTech discovered visible gold at 130.8m in site UGA-41. Grains of up to 0.2mm of gold were discovered within a 5cm vein filled with "fine grained, white to grey chalcedonic quartz-pyrite".

Assay results will be reported to the market in the future. MetalsTech said:

The company looks forward to providing an update on UGA-41 in the next few weeks as the core is currently being sampled and will be dispatched to the lab as soon as possible

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The company's shares are currently swapping hands at 30 cents, a 20% gain. This comes after an intraday high of 35 cents a share, a 40% jump on yesterday's closing price.

The company's gains contrast with the S&P/ASX 200 Resources Index (ASX: XJR) today. It's currently down 0.84%.

So what is causing this ASX gold explorer's share price to surge today?

Drilling intersects gold

Metalstech provided an update on a "bonanza gold intersection" from drilling at the company's Sturec Gold Mine in Slovakia.

Drilling at hole UGA-30 intersected with a thick mineralised zone of 173.2 metres (m) at 3.27 grams of gold per tonne (g/t) and 11.8 g/t of silver from 0m. This included 103m at 5.06 g/t gold and 13.4 g/t silver from 57m.

Meanwhile, drilling at hole UGA-25 intersected with a thick mineralised zone of 53m at 0.86 g/t of gold and 10 g/t of silver from 95m.

Commenting on the news, Metalstech director Gino D'Anna said:

The ore body at Sturec continues to deliver impress zones of gold mineralisation.

Our drilling has grown the confidence of the existing Sturec Mineral Resource and demonstrated that the mineralisation extends further to the south along strike of the existing resource and remains open down dip/plunge.

The company has completed drilling 12 diamond drill holes from the second drill chamber and eight from the third drill chamber. A nine drill hole within his third chamber is currently in progress.

Share price snapshot

The Metalstech share price has surged more than 210% in the past year while it's gained 3.45% in the year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has gained just over 4% during the past year.

Metalstech has a market capitalisation of about $50 million based on the current share price.

The post Metalstech share price booms 20% on 'bonanza gold' discovery appeared first on The Motley Fool Australia.

So why did this miner of lithium, cobalt, and gold have such a good day?

Let's take a look.

Gold update

The Metalstech Ltd (ASX: MTC) share price exploded today. Investors appeared to react positively to an update released before market open this morning.

The company provided a drilling update from its 100%-owned Sturec gold mine in Slovakia.

Metalstech said diamond core drilling is continuing to "progress well" during the Slovakian winter. Explorers are completing a drill hole known as UGA-30 within drill chamber three. Metalstech said the drilling has targeted areas "both within and outside" the existing mineral resource boundary.

The company expects to report a "significant batch" of drill results in the future. Construction of a fourth drill chamber is also underway.

In the announcement that drove up the Metalstech share price today, the miner said:

The company is currently working with an independent consultant to model a JORC exploration target for the historic mineralisation identified outside the current Sturec Mineral Resource Estimate area, including Wolf, Katerina, Volle Henne and Vratislav where extensive historical drilling and production has occurred.

The company has also engaged Measured Group to complete a scoping study based on a high grade, low impact, bulk underground mining operation at Sturec focussing on the higher grade zones within the mineral resource estimate.

Metalstech said this scoping study is going well and earmarked for completion in April. Finally, the company provided an update on the gold price.

It said the gold price is trading above US$1,980 per ounce. The company noted multiple analysts are increasing long-term forecasts to more than US$2,000 per ounce.

Metalstech share price snapshot

The Metalstech share price has leapt 90% in a year but has fallen nearly 14% year to date.

In the past month, Metalstech shares have slipped by nearly 6%, while they are surging 28% over the past week.

MetalsTech has a market capitalisation of about $41.7 million based on its current share price.

The post This tiny ASX mining share surged 14% today. Here's why appeared first on The Motley Fool Australia.

Below we look at the ASX resource explorer's latest gold update that looks to be spurring investor interest.

What gold update was announced?

The Metalstech share price is surging after the company reported it had identified visible gold at its 100%-owned Sturec Gold Mine, in Slovakia.

The explorer is engaged in phase 2 of a diamond drilling campaign. During geological logging and sampling it said visible gold was identified at 97.6 metres "within a quartz filled vein/stockwork/breccia zone, variably rich in fine to very fine grained sulphides and hosted within variably argillic altered andesite host rock from approximately 75 metres to 120 metres down hole in the drill core…"

The hole in question, UGA-20, was completed to a depth of 140.5 metres.

Metalstech said the core from UGA-20 is currently being sampled and will be dispatched to a lab for analysis "as soon as possible". The company will provide a market update once those results are in.

October tailwinds for the Metalstech share price

Gold prices have been edging higher in October, up 1.3% so far this month to US$1,782 per troy ounce.

But the Metalstech share price enjoyed an even bigger boost earlier this month from another positive gold announcement out of Sturec.

On 4 October its shares surged 17% intraday after the company reported it had encountered "bonanza gold" at the project.

Following the bonanza gold strike, Metalstech chairman Russel Moran said:

Sturec is shaping up to be an extraordinary deposit with bonanza grade potential … we are hopeful we will continue to hit these incredible mineralised zones, which can expand on and help grow what is already a very exciting and significant gold resource.

Metalstech share price snapshot

The Metalstech share price has been a standout performer over the past full year, up around 180% in 12 months. For comparison, the All Ordinaries Index (ASX: XAO) gained 21% over that same time.

Over the past month, Metalstech shares have gained 12%.

The post Why the Metalstech (ASX:MTC) share price is climbing 7% today appeared first on The Motley Fool Australia.

Below, we take a look at the ASX resource explorers latest gold and silver update.

What gold and silver update was announced?

The Metalstech share price is seeking direction after the company updated the market on the metallurgical testing program at its 100% owned Sturec Gold Mine, located in Slovakia.

According to the release, metallurgical recovery results for mineralisation intersected by a drill hole returned "excellent gold and silver" results. The testing program used gravity separation and flotation.

Metalstech said the flotation test work produced a final concentrate of 31 grams of gold per tonne and 80 grams of silver per tonne. It reported gold recovery at 91.0% and silver recovery at 88.4%.

The company also reported "good results" from its initial gravity recovery test work, with gold recovery of 37.4%.

Commenting on the results, Metalstech chairman Russell Moran said:

The sulphide ore at Sturec is the primary target ore type and it has demonstrated excellent gold recoveries from simple gravity separation and flotation. This opens up potential for a wide range of simple and low CAPEX [capital expenditure] processing opportunities for Sturec. The current test work will help support our scoping study, which is already underway.

Metalstech share price snapshot

The Metalstech share price has had a strong year, buoyed by a lift off in late August. Year-to-date, shares are up 141% compared to a gain of 9% posted by the All Ordinaries Index (ASX: XAO) so far in 2021.

Over the past month, Metalstech's share price has surged more than 70%.

With Metalstech involved in a range of other precious metals, the company's shares have performed far better than the gold price this year. Gold topped out at US$1,950 per ounce on 5 January and is currently trading at US$1,893 per ounce.

Silver's been sliding too, currently at US$22.62 per ounce after hitting US$29.05 per ounce on 1 February.

The post Up 191% in 1-year, why the Metalstech (ASX:MTC) share price is on a rollercoaster today appeared first on The Motley Fool Australia.

At the time of writing, MetalsTech shares are down 7.89% to 52.5 cents. This means that its shares have lost around 20% in value in the past week, reversing October's gains.

Why is MetalsTech shares nosediving?

On Wednesday, MetalsTech advised that its wholly-owned subsidiary Winsome Resources signed a binding agreement with leading fibreglass manufacturer, China Jushi.

However, today's updated release informed that the entity which executed the binding subscription agreement was a subsidiary of Zhenshi.

The Chinese company will subscribe for up to 9.9% of all shares issued in the proposed Winsome float. This equates to around $2.7 million in value, bringing the total float amount to $5.7 million. The remaining $3 million is being committed by North America's Lithium Royalty Corp.

Zhenshi is the second largest shareholder of the $15 billion market capitalised, China Jushi. Furthermore, Zhenshi has a diversified investment in fibreglass products, stainless steel, wind energy, composites minerals, logistics and real estate.

The issue price for each share is listed at 20 cents apiece which equates to roughly 13.5 million shares.

Metalstech shareholders are expected to receive about $9 million worth of shares in Winsome by a way of distribution. This translates to 45 million Winsome shares (1 free share held for every 3.68 Metalstech shares held).

More on MetalsTech's subsidiary, Winsome

A lithium-focused exploration and development company, Winsome operates three project areas in the James Bay Region of Quebec Province, Canada. It's worth noting that all three projects – Cancet, Adina and Sirmac-Clappier are 100% owned by the company.

Cancet is the Company's most advanced lithium asset, comprising of an area of over 20,000 hectares. The project sits on a favourable geological setting with a well-mineralised spodumene bearing pegmatite.

Winsome is currently undertaking an initial public offering (IPO) to list on the ASX under the ticker code of WR1. It is expected that the company will begin trading on the ASX around mid-November this year.

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Metalstech shares are edging lower today despite the company providing a key update to its "bonanza gold hit" at its Sturec mine in Slovakia.

Here's what we know.

What did Metalstech announce?

The company provided an "upward revision" of its previously announced gold strike at the Sturec site.

In that release, Metalstech noted that it had intersected thick, mineralised zones for 622 grams-metres, including high-grade zones.

The company believes the find is so significant, it labelled it a new "bonanza" result at the time – interesting terminology for a publicly listed entity.

Alas, the results from drill hole UGA-18 have been updated after the company received screen assay results from visible gold samples obtained from its diamond drilling program.

The outcomes return "an improved 646g/t Au result", up from a previous estimate of 594g/t Au, whilst overlimits analysis for silver returned a 459g/t Ag result.

As such, the company advised it intersected a thick, continuous mineralised zone for an "extraordinary 673 grams-metres, including higher-grade zones" – up from 622 in the previous announcement.

Metalstech does leave a cautionary note regarding its specific drill results, that state the intersections are "not a true thickness, as the drill hole was drilled at an angle to the mineralised zones" due to underground drill sites.

Today's release builds on three prior announcements out of Metalstech's camp in the past few weeks, each centred on the mineralisation finds at Sturec.

Investors have rewarded the company on this backdrop, and the Metalstech share price has soared around 135% from 26 cents in early September.

Despite today's announcement, investors don't appear too impressed by the updates. The Metalstech share price has also come off its 52-week high of 70 cents on October 4 – the date of its last release. That's a 13% drop in just a few days.

This follows selling pressures from Wednesday, where the company announced an update on a key investment into its lithium spinout vehicle, Winsome Resources (ASX: WR1).

And the selling pressures continue today, with the gold exploration company's shares edging lower across the day, down from an intraday high of 67.5 cents in early trade.

Metalstech share price snapshot

Zooming out, the picture is far brighter, as the Metalstech share price has climbed 198% this year to date, and over 276% this past 12 months.

Metalstech shares have also rallied 118% this past month alone, and are up 8% in the past week.

These results outpace the S&P/ASX 200 index (ASX: XJO)'s climb of around 25% in the last year.

The post Here's why the Metalstech (ASX:MTC) share price is sliding on Thursday appeared first on The Motley Fool Australia.

At the time of writing, Metalstech shares are down 8.70% to 63 cents a pop. However, today's fall is most likely attributed to some heavy profit-taking by investors. The company's shares are up almost 20% for the week and 130% in a month.

What did Metalstech announce?

According to its release, Metalstech advised its wholly-owned subsidiary Winsome Resources, has signed a binding agreement with China Jushi.

Founded in 1998, China Jushi is the largest fibreglass manufacturer in China. The company specifically produces glass fibres, advanced composite materials and other products.

International operations extend out to North Carolina in the United States, with sales across a number of countries worldwide.

Under the agreement, China Jushi will subscribe for up to 9.9% of all shares issued in the proposed Winsome float. This equates to around $2.7 million in value, bringing the total float amount to $5.7 million. The remaining $3 million is being committed by North America's Lithium Royalty Corp.

The issue price per share is listed at 20 cents each for China Jushi, acquiring roughly 13.5 million shares.

Metalstech shareholders are expected to receive about $9 million worth of shares in Winsome by a way of distribution. This translates to 45 million Winsome shares (1 free share held for every 3.68 Metalstech shares held).

Metalstech chair Russell Moran, touched on the strategic commitment, saying:

The Winsome team have done a fantastic job courting leading industry participants to support their lithium business vision. Metalstech shareholders eligible at the record date will capitalise on what is shaping up to be a fiercely sought-after battery metals focussed share offering through proposed in-species distribution.

About the Metalstech share price

It has been an astounding year for Metalstech shares, accelerating close to 300% in a year. When looking at 2021, its shares are up 200% and reached a record high of 80 cents on Monday.

Metalstech has a market capitalisation of roughly $101.82 million, and approximately 165.56 million shares on its books.

The post Why is the Metalstech (ASX:MTC) share price sliding 8% on Wednesday? appeared first on The Motley Fool Australia.

Metalstech shares are on the move after the lithium and cobalt exploration company announced a key update today regarding its gold mine in Slovakia.

Here's what we know.

What did Metalstech announce?

Metalstech gave details of what it called a "bonanza gold hit" at its Sturec Gold mine in Slovakia.

The company has now completed two diamond drill holes at the site, aimed at "increasing confidence in the mineralisation zone" outside the existing Sturec resource.

One of the drill holes, UGA-18, intersected a thick, mineralised zone "for an extraordinary 622 'grams-metres' including higher grade zones".

This resulted in a "new record bonanza result" 81 metres downhole from the second drill hole at the site.

Today's announcement follows a similar announcement from the first drill hole at the site, UGA-17, last week. Assay results from this hole offer basically the same benefits to the Sturec site, as per the company.

Metalstech is confident that the assay results obtained from UGA-18, alongside the assay result in UGA-17, offers "strong confidence to the mineralised zone interpretation" to the existing Sturec resource.

The company is also finalising a report on the metallurgical test work, which investors can expect to see released next week, per the release.

One important factor is that the "intersections are not a true thickness, as the drill hole was drilled at an angle to the mineralised zone due to the location of the underground drill site relative to the target zone".

Additional drilling is therefore necessary to "better constrain the interpretation", as per Metalstech.

The company itself certainly appears happy, with chairperson Russel Moran saying:

Sturec is shaping up to be an extraordinary deposit with bonanza grade potential…we are hopeful we will continue to hit these incredible mineralised ones which can expand on and help grow what is already a very exciting and significant gold resource.

Shareholders appear to agree too and are buying Metalstech in droves today, despite the price of gold coming off 3 previous highs since June to trade at US$1,764.93/t.oz.

Metalstech share price snapshot

The Metalstech share price has been a major winner on the ASX this year, booking a gain of 268% since January 1. It's rallied over the past month by over 179% and gained another 29% this past week.

This extends its return over the past 12 months to 372%, well ahead of the S&P/ASX 200 index (ASX: XJO)'s gain of about 25% in this time.

The post Metalstech (ASX:MTC) share price soars 17% on record gold hit appeared first on The Motley Fool Australia.

Shares in the gold explorer rallied 15% to an all time high of $0.65 at the time of writing. Its outperformance stands in contrast to other ASX gold shares too.

The Newcrest Mining Ltd (ASX: NCM) share price sunk 0.5% to $22.52, St Barbara Ltd (ASX: SBM) share price slipped 0.6% to $1.35 and Northern Star Resources Ltd (ASX: NST) share price gave up 1.1% to $8.41.

Metalstech share price defies falling gold price

The weakening gold price is weighing, but that's not enough to keep the Metalstech share price down.

Management excited the market after it reported "excellent" results from its first drill hole of its phase 2 program.

Metalstech reported that it struck a thick, continuous, mineralised zone of 45m @ 2.65 grams per tonne (g/t) of gold. It also hit 10.4 g/t of silver from 52m.

Additionally, it struck 35m @ 3.31 g/t of gold from 60m. This included 19m @ 5.08 g/t of gold and 12.9 g/t of silver from 67m.

Caveat to the good results

These results from UGA-17 offers "strong confidence" to the mineralised zone interpretation at the southern margin of the Sturec Mineral Resource, according to Metalstech.

The results from UGA-18 are pending but management has high hopes. It reported visible gold at 81.35m downhole and the lab results are expected within days.

However, the bullish announcement comes with a disclaimer. The intersections are not the true thickness as the drill hole was drilled at an acute angle to the mineralised zone.

This is due to location of the underground drill site relative to the target zone. More drilling is necessary to get an accurate picture.

Hopes building for more good news

But this isn't dampening the excitement of the Metalstech share price or management.

"Its [sic] great to we have hit nice thick mineralisation with excellent gold grade right out of the gate on this program," said Metalstech chairman Russell Moran.

"The next hole looks fantastic based on the visible gold seen in cut core and we look forward to reporting on that in a couple of days when assays come in."

The Sturec Gold Mine is 100% owned by Metalstech and is located in Slovakia. The explorer has competed two diamond drilling programs to date.

How the Metalstech share price compares to other ASX gold shares

The Metalstech share price has surged by over 270% over the past year. That stands in contrast with the bigger ASX gold shares, which have slumped into bear territory over the period.

This is because the gold price has retreated since hitting a record high over US$2,000 an ounce. The outlook for gold isn't bright either as with withdrawal of QE and rising global interest rates have dampened the outlook for the commodity.

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

In afternoon trade, the gold explorer's shares are up a sizeable 26% to a 52-week high of 53 cents.

This means the Metalstech share price is now up a whopping 150% since the start of the year.

Why is the Metalstech share price rocketing?

The Metalstech share price is rocketing higher today following the release of a positive announcement relating to its Sturec Gold Mine.

The Sturec Gold Mine is located in central Slovakia between the town of Kreminica and the village of Lucky. This is approximately 150km north east of the country's capital, Bratislava.

According to the release, the company's phase two diamond drilling program has returned some impressive results.

The release explains that following detailed geological logging and sampling, visible gold at 81.35 metres was identified within a quartz filled vein, variably rich in fine to very fine grained sulphides.

This has the potential to be a very big positive. Though, the company has warned that visual observations should not be taken as a substitute for appropriate laboratory analysis. Those laboratory assay results will be reported when they are received and interpreted.

Nevertheless, the company is very pleased with what it has seen and intends to expedite processing to find out the true extent of the grade.

Metalstech's Chairman, Russell Moran, commented on the news. He said: "This is an extraordinary example of visible gold and the potentially mineralised zone in the intersection looks to be 37m in length. The hole will be processed on a rushed basis as we are eager to see just how high the grade runs in that area."

No doubt all eyes will be on the Metalstech share price when further details are released.

The post Why the Metalstech (ASX:MTC) share price is rocketing 26% higher today appeared first on The Motley Fool Australia.

At one point today, Metalstech shares were changing hands 7% higher at 46 cents each and are now trading at 44 cents apiece.

Investors are buying the lithium and cobalt company's shares on the back of a drilling update announced earlier today.

What did Metalstech announce?

Metalstech announced it had made the "discovery of historic high-grade intersections in untested regional target zones" at its Sturec gold mine in Slovakia.

In addition, a "mapping and rockchip exploration program" has commenced at the site to "help plan and design a regional exploration drilling program" that will follow up on these high-grade intersections.

The drilling will "attempt to understand the structural setting and extent" of the high-grade mineralisations that were intersected.

Metalstech also advised that "importantly", these historic high grade mineralised zones "sit outside of the updated 2021 Sturec mineral resource estimate area" announced in July.

Following the results announced today, Metalstech advised exploration is to "focus on three main prospects outside the updated 2021 Sturec mineral resources estimate area".

The three prospects are the Vratislav, Wolf and Katerina prospects respectively, located at the company's Sturec mine.

Investors have bought the news and are still buying Metalstech's shares into the afternoon session on Monday.

This continues an impressive run for the Metalstech share price which has climbed a further 48% into the green over the last week.

What did management say?

Commenting on the results, Metalstech chair Russel Moran said:

We've always had the belief that Sturec possesses incredible prospectivity outside of the existing core zone where the current mineral resource is located.

Speaking on the company's next moves, Moran added:

The results from these prospects clearly warrant the company undertaking further exploration as part of our planned regional drilling program. We look forward to expanding our drill campaign to include these and other regional targets as we continue to develop a better understanding of the growth potential of the deposit.

Metalstech share price snapshot

The Metalstech share price has climbed 110% this year to date, extending the last 12 month's gain to 100%.

Over the last month alone, it has jumped a further 115% into the green.

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

The post Metalstech (ASX:MTC) share price leaps 7% on drilling update appeared first on The Motley Fool Australia.

The company has signed a strategic investment agreement with Chifeng Jilong Gold Mining that will see Chifeng subscribing to buy more than 5.8 million Metalstech shares for 34 cents apiece.

At the time of writing, the Metalstech share price has boomed to 42.5 cents, 19.72% higher than its previous close. Additionally, the Metalstech share price hit a new all-time high of 44.5 cents earlier today.

Let's take a closer look at today's news from the lithium and gold exploration company.

Metalstech's new investor

The Metalstech share price is soaring this morning following its announcement of a significant strategic investment.

China's Chifeng will be investing in Metalstech via its subsidiary Chijin International.

Metalstech will issue approximately 5.8 million shares to Chifeng before its planned spinout of Winsome Resources.

Winsome is to take over Metalstech's lithium resources. The split will allow Metalstech to focus on its gold assets.

Metalstech shareholders will receive $9 million worth of Winsome shares – valued at 20 cents apiece – as part of the demerger.

After Chifeng receives its allocated new shares, Metalstech shareholders will get 1 Winsome share for (approximately) every 3.66 Metalstech shares they already hold.

That would see Chifeng with around 1.6 million shares in Winsome after the spinout. It is scheduled for 7 October and is subject to shareholder approval.

Additionally, Metalstech plans for Winsome Resources to float on the ASX after the spinout. Details of Winsome's potential initial public offering (IPO) are yet to be announced.

Commentary from management

Metalstech chair Russell Moran commented on the news driving the company's share price higher today:

Chifeng is widely considered to be one of the most succesful precious metals investors in China… We hope that this recent interest from Chifeng is a sign of growing interest in out broader development plans for [the Sturec Gold Mine].  

Metalstech share price snapshot

Today's gains have seen the Metalstech share price well and truly in the green.

It is currently 107% higher than it was at the start of 2021. And it has gained 97% since this time last year.

The post Metalstech (ASX:MTC) share price surges 20% on $2 million investment appeared first on The Motley Fool Australia.

Metalstech shares are on the move after the company delivered an investor presentation on its planned lithium asset spin-out today.

Let's investigate further.

A bit of background information

Recall that Metalstech lodged a "short form prospectus" and called for shareholder voting on the spin-out of its lithium projects to Winsome Resources earlier this year.

Major shareholders indicated support for the spin-out early on, and advocated for a separate ASX listing of Winsome Resources.

Under the arrangement, Metalstech shareholders are to receive "$9 million worth of shares in spin out by way of an in species distribution" of 45 million Winsome shares.

This equates to approximately one "free (Winsome) 20 cent share for every 3.5 (Metalstech) shares held".

As a result of the spin-out, Winsome will focus on developing the "100% owned" Cancet, Adina and Sirmac–Clapier Lithium lithium projects in Quebec, Canada.

Metalstech also stated that Winsome's initial public offering (IPO) will occur on a valuation of $12 million to $18 million. Winsome will trade under the ticker "WR1".

Metalstech shareholders will have their say on 4 October, when they will vote on successfully passing the lithium assets over to Winsome.

What did Metalstech announce today?

In what was deemed a positive for the Metalstech share price, the company gave an update and presentation on its lithium spin-out entitlements.

In its report, Metalstech outlined the opportunity at hand, explaining its positioning within the world of battery manufacturing.

The company believes that the battery "value chain" has a number of "social, environmental and integrity issues".

This coincides with the fact that most of the world's lithium reserves are in "Australia, Argentina, Chile and China". As such, Metalstech believes its assets "offer greater diversity".

Metalstech also explained its Quebec lithium projects are "strategically located" near "established infrastructure and supply chain".

Investors have bought on the news, and are driving the Metalstech share price higher today.

Metalstech shares are now exchanging hands at 30 cents apiece, a 15.38% gain from the market open.

Metalstech share price snapshot

The Metalstech share price has climbed 44% this year to date. This extends the gain over the previous 12 months to 40%.

In the past month alone, Metalstech shares have climbed a further 31% in the green.

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

The post Metalstech (ASX:MTC) share price jumps 15% on lithium spin out update 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 storming higher:

Metalstech Ltd (ASX: MTC)

The Metalstech share price has jumped 12% to 27.5 cents. This follows the release of an update on its lithium spin-out plans. On 4 October, Metalstech shareholders will be able to vote to spin-out the company's lithium assets to Winsome Resources. If approved, Metalstech shareholders will receive 1 Winsome share – worth 20 cents – for every 3.5 Metalstech shares held.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price is up 2.5% to $54.65. This morning the mining and mining services company announced the completion of the acquisition of Red Hill Iron's 40% participating interest in the Red Hill Iron Ore Joint Venture. However, this was largely priced in already. Therefore, today's gain appears to be more likely due to bullish sentiment in the lithium sector.

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price has climbed 3% to $10.42. Investors have been buying the enterprise software company's shares after it announced an acquisition. According to the release, TechnologyOne has entered into an agreement to acquire Scientia Resource Management for 12 million pounds (A$22.4 million). Scientia is a United Kingdom-based technology company servicing the higher education sector.

Webjet Limited (ASX: WEB)

The Webjet share price is up 3% to $5.90. Investors have been buying the online travel agent's shares this week following the release of a positive trading update. That update revealed that its key WebBeds business has become profitable again. Management expects this to continue and underpin a return to positive operating cash flow during the first half of FY 2022.

The post Why Metalstech, Mineral Resources, TechnologyOne, & Webjet are storming higher appeared first on The Motley Fool Australia.

Metalstech has set a date for its shareholders to vote on the spin-out, which would see the company's lithium assets held under Winsome Resources.

If passed, Metalstech shareholders will receive 1 Winsome share – worth 20 cents – for every 3.5 Metalstech shares in their portfolio.

Right now, the Metalstech share price is 28.5 cents, 16.33% higher than its previous close.

Let's take a closer look at today's news from the lithium, cobalt, and gold exploration company.

Shareholders to vote on lithium spin-out

The Metalstech share price is soaring today after the company announced more news of its planned lithium spin-out.

As part of the spin-out, the company will be giving its shareholders $9 million worth of Winsome shares for free.

Metalstech's shareholders will receive a combined 45 million shares in Winsome.

Shareholders will have the opportunity to vote for or against the spin-out on 4 October. Metalstech has already received indications of support for the spin-out from its major shareholders.

It has previously announced $3 million of Winsome shares will be included in a cornerstone subscription by Lithium Royalty Corp.

Metalstech has also previously stated Winsome's initial public offering (IPO) will be valued at between $12 million and $18 million.

Lithium Royalty Corp has also paid Metalstech $6.65 million for a gross revenue royalty over the Cancet, Adina, and Sirmac-Clapier lithium assets.

Metalstech share price snapshot

Today's gains included, the Metalstech share price has soared around 45% since the start of 2021.

It is also about 60% higher than it was this time last year.

At its current share price, the company has a market capitalisation of around $49 million. It has approximately 158 million shares outstanding.

The post Why the Metalstech (ASX:MTC) share price is rocketing 16% on Friday appeared first on The Motley Fool Australia.

At the time of writing, the gold explorer's shares are up 15.38% to 23 cents. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.1% to 7,734 points.

What happened?

According to its release, MetalsTech advised that between 17 August and 20 August, a number of directors bought more shares in the company.

Geosmart Consulting, an entity in which MetalsTech director Dr Qingtao Zeng is also a director, purchased 75,000 shares on-market. This is for a total cash consideration of $15,000. In addition, Dr Zeng picked up another 50,000 shares for $10,000 to add to his own personal holding.

Natres Services, an entity of which MetalsTech chair Russell Moran is a director, bought 228,803 shares on market. The value of this purchase is for a total amount of $44,867.

And lastly, Internatzionale Trust, an entity of which MetalsTech director Gino D'Anna is a director, obtained 40,000 shares on market for $7,830.

No doubt, the latest purchases from each of the directors has transformed into positive sentiment for investors. Traditionally, when a company's owners or directors take part in buying more shares, it is a sign of good things to come.

MetalsTech chair, Russell Moran commented:

MetalsTech is well funded having received $6.7 million in cash from Lithium Royalty Corp in July and drilling is expected to commence imminently at the 1.5Moz Sturec Gold Mine. The company is not in a 'blackout period' under its securities trading policy so the board and its related parties were happy to capitalise on the opportunity to purchase more MTC shares.

About the MetalsTech share price

Over the last 12 months, MetalsTech shares have gained around 7%, with year-to-date up almost 10%. The company's share price hit a 52-week high of 34.5 cents in early June, before treading lower due to profit-taking.

Based on today's price, MetalsTech presides a market capitalisation of roughly $35.7 million, with 158 million shares on its registry.

The post Why the MetalsTech (ASX:MTC) share price is soaring 15% today appeared first on The Motley Fool Australia.