Red Hill shares closed on Friday trading for $5.07. At the time of writing on Monday, shares are changing hands for, well, $5.07 apiece.

This leaves the Red Hill share price up 81.1% since plumbing a one-year closing low on 7 April.

Here's what's happening today.

ASX All Ords gold stock expanding its footprint

The Red Hill Minerals share price has yet to make any big moves following the release of an exploratory drilling update.

The ASX All Ords gold stock reported on a fresh batch of assay results from a diamond and reverse circulation (RC) drilling program targeting the Barkley Gold prospect, situated within its West Pilbara Gold and Base Metal Project, located in Western Australia.

Red Hill's 2025 RC and diamond drill program expanded the mineralisation footprint at Barkley to more than a one-kilometre strike length. The target was reported to remain open in multiple directions.

The miner said the results from the two latest diamond twin holes, which were drilled for a total of 424.3 metres, have confirmed gold mineralisation and "extensive alteration".

Among the top results, Red Hill reported 1.3 metres at 2.0 grams of gold per tonne from 9.7 metres, and 0.7 metres at 1.2 grams of gold per tonne from 83.3 metres.

For the geologically informed, management stated:

Drilling across the target confirms mineralisation is present in both weathered and fresh rock. Bedrock alteration and structural overprint has been observed in diamond drill core to increase with depth, adding previously undescribed alteration styles for this project including hematite alteration, observed from approximately 190 metres.

The ASX All Ords gold stock has commenced initial 3D geological modelling that incorporates the structural information from the diamond core to assist with future drill planning.

Management said that Future drilling at Barkley will likely step out to the north, south, and east of three of its most promising drill holes, "where the thickest and highest-grade mineralisation remains open and heritage clearance has been obtained".

What's been happening with Red Hill Minerals?

Atop its recent exploration successes at the Barkley Gold Prospect, the ASX All Ords gold stock has been catching solid tailwinds from the surging gold price.

Gold is currently fetching US$4,596 per ounce. That's within a whisker of its all-time highs posted last week. And it sees the price of the yellow metal up a whopping 67% since this time last year.

The post Up 81% since April, ASX All Ords gold stock reveals latest exploration success 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:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel Pharmaceuticals share price is down 6.5% to $14.50. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has downgraded the biopharmaceutical company's shares to a hold rating with a $16.00 price target. Morgans made the move partly on valuation grounds. It also highlights that there are risks around competition that investors should be considering.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is down 4.5% to $1.07. This is despite the release of a positive announcement this morning from the biotechnology company. Mesoblast revealed that it has now resubmitted its biologic license application (BLA) for the approval of Ryoncil in the treatment of children with steroid-refractory acute graft-versus-host disease (SR-aGVHD). Management expects an answer from the United States Food & Drug Administration (FDA) in two to six months. But with its shares up almost 300% over the past six months, it seems that some investors aren't sticking around to find out if it will finally be approved.

Red Hill Minerals Ltd (ASX: RHI)

The Red Hill Minerals share price is down 21% to $6.19. This has been driven by the iron ore, gold, and base metals explorer's shares going ex-dividend this morning for a big payout. Last week, the company announced a $1.50 per share fully franked dividend. This was in response to the receipt of $200 million milestone payment from Mineral Resources Ltd (ASX: MIN) relating to the Onslow Iron Project. Eligible shareholders can now look forward to receiving this dividend next week on 19 July. Based on yesterday's close price, this payout represents a sizeable 19.2% dividend yield.

Resimac Group Ltd (ASX: RMC)

The Resimac share price is down 4% to 83 cents. Investors have been selling this non-bank lender's shares today after it announced the sudden exit of its CEO. According to the release, Scott McWilliam has resigned from his employment with Resimac after 21 years of service. This includes six years as its CEO and three years as its joint CEO following the merger with Homeloans Limited. Mr McWilliam will take a period of leave before his employment contract ends on 1 September 2024.

The post Why Clinuvel, Mesoblast, Red Hill, and Resimac shares are sinking today appeared first on The Motley Fool Australia.

The ASX mining stock is the worst performer on the All Ordinaries index today by some distance.

In fact, at one stage today the Red Hill Minerals share price was down as much as 27% to $5.68.

It has recovered a touch since then but remains down 22% to $6.19 at the time of writing.

Why is this ASX mining stock crashing?

The good news for shareholders of Red Hill Minerals is that this decline isn't anything to be worried about. Rather, it could be something to get very excited about.

That's because the ASX mining stock is crashing today after trading ex-dividend for an upcoming special dividend.

When a share trades ex-dividend, it means the rights to an upcoming dividend are now settled and new buyers will not be entitled to receive the payout on pay day.

A dividend forms part of a company's valuation. And if you're not going to receive it, then you don't want to pay for it when buying shares. This means that a share price tends to drop to reflect this.

But why such a big decline? Well, that's simply because the company is paying out an extremely large dividend.

Big dividend

This West Pilbara-based iron ore, gold, and base metals explorer recently announced the sale of a 40% interest in the Onslow Iron Project via the Red Hill Iron Ore joint venture to Mineral Resources Ltd (ASX: MIN).

And with the Onslow Iron Project recently reporting its first shipment of ore to China Baowu Steel Group, this triggered the second payment of $200 million to the ASX mining stock from Mineral Resources.

Last week, the company revealed that it would be returning proceeds from the sale to shareholders. It said:

The Board of Directors of Red Hill Minerals Limited is pleased to advise that it has resolved to pay a special dividend of $1.50 per ordinary share, fully franked at 25%. The dividend will be sourced from the second of two $200 million payments received from Mineral Resources Limited for the sale of the Company's 40% interest in the Red Hill Iron Ore Joint Venture.

Based on its share price at the close of play on Monday, this represents a sizeable 19.2% dividend yield.

Eligible shareholders can now look forward to receiving this dividend next week on 19 July.

The post Why is this ASX mining stock crashing 27% today? appeared first on The Motley Fool Australia.

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

Cettire Ltd (ASX: CTT)

The Cettire share price is up 11% to $1.35. This is despite there being no news out of the online luxury products retailer. However, it is worth noting that its shares have been on fire this week. Investors appears to have been buying stocks that were sold off in the last financial year. Nevertheless, Cettire's shares remain down by over 55% since this time last year despite this week's heroics. That weakness was driven by concerns over its business model and a sudden deterioration in its performance because of consumer spending headwinds.

Deterra Royalties Ltd (ASX: DRR)

The Deterra Royalties share price is up 1.5% to $4.08. This appears to have been driven by a broker note out of Goldman Sachs this morning. Its analysts have upgraded the mining royalties company to a buy rating with a $4.70 price target. This implies potential upside of 15% from current levels. The broker feels that a recent selloff has created a buying opportunity for investors.

G8 Education Ltd (ASX: GEM)

The G8 Education share price is up 3% to $1.22. This strong gain also appears to have been by a broker note this morning. According to a note out of Macquarie, its analysts have upgraded the childcare centre operator's shares to an outperform rating with an improved price target of $1.35. Macquarie believes the company could be performing better than expected thanks to improving occupancy rates and lower wage increases.

Red Hill Minerals Ltd (ASX: RHI)

The Red Hill Minerals share price is up 11% to $7.34. This morning, this mining company announced a very large special dividend. Red Hill Minerals recently received $200 million from Mineral Resources Ltd (ASX: MIN) following the first shipment of ore from the Onslow Iron Project to China Baowu Steel Group. Its board has decided to return proceeds to shareholders through a special fully franked $1.50 per share dividend. Based on its current share price, this represents a 20% dividend yield. Its shares are scheduled to trade ex-dividend next week on 9 July. After which, the payment will be made to eligible shareholders later this month on 19 July.

The post Why Cettire, Deterra Royalties, G8 Education, and Red Hill shares are pushing higher appeared first on The Motley Fool Australia.

That's because this company has just announced a special dividend that will provide investors with a mouth-watering dividend yield.

Which ASX stock?

The ASX stock that is rewarding its shareholders is Red Hill Minerals Ltd (ASX: RHI).

It is an iron ore, gold, and base metals explorer based in the West Pilbara region of Western Australia.

While the company has a number of projects in its portfolio, the key one was the Onslow Iron Project. The company had a 40% stake in the project through the Red Hill Iron Ore joint venture.

It recently completed the sale of its interest in the joint venture to mining giant Mineral Resources Ltd (ASX: MIN) following last month's delivery of the first shipment of ore from the Onslow Iron Project to China Baowu Steel Group.

This shipment triggered the second payment of $200 million to the ASX stock from Mineral Resources.

Red Hill's executive chairman, Joshua Pitt, said:

Our Company worked closely within the RHIOJV over many years to advance this Project and found in MinRes an excellent team that is close to achieving the rare feat of completing a major project development, the Onslow Iron Project, on time and within budget. This second payment to the Company, followed by the royalty revenue stream generated from our royalty interest in the Project should benefit our shareholders while funding an effective gold and base metal exploration effort.

Special dividend

This morning, the ASX stock revealed that it has decided to return to shareholders funds raised from the Mineral Resources payment. It said:

[I] has resolved to pay a special dividend of $1.50 per ordinary share, fully franked at 25%. The dividend will be sourced from the second of two $200 million payments received from Mineral Resources Limited for the sale of the Company's 40% interest in the Red Hill Iron Ore Joint Venture.

Based on its current share price of $7.13, this $1.50 per share pay out represents a whopping 21% dividend yield.

In order to receive this dividend, investors need to buy the ASX stock before it trades ex-dividend on 9 July. After which, payment will be made 10 days later on 19 July.

Pitt commented:

We congratulate Mineral Resources on achieving first ore on ship from the Onslow Iron Project. This milestone has resulted in the payment of the second $200 million and has triggered the commencement of our 0.75% royalty stream. It has enabled our Board to declare the Company's sixth consecutive dividend and provides a great platform for the future.

The post This ASX stock just announced a special dividend with a 20% yield appeared first on The Motley Fool Australia.

Both of the All Ordinaries Index (ASX: XAO) stocks trade ex-dividend next week.

Want to bank the dividends from these two ASX All Ords stocks?

The first stock trading ex-dividend next week is Collins Foods Ltd (ASX: CKF).

Collins Foods operates KFC fast food restaurants in Australia and Europe, with a slow-growing footprint of Taco Bell outlets down under as well.

The ASX All Ords share reported its full-year results on 27 June.

Among the highlights, the company reported $1.35 billion in revenue from continuing operations. That was up 14.2% from the prior year.

On the dividend front, management noted, "Taking into consideration Collins Foods' operating cash flows, strong balance sheet and growth opportunities, the board has declared a fully franked final dividend of 15.0 cents per share (cps)."

While that's the same as the final dividend the ASX All Ords share paid out in 2022, it's worth noting that 2022 represented an all-time high payout.

Collins Foods trades ex-dividend on Monday, 10 July. That means if you want to score the dividend, you'll need to own the stock at market close tomorrow. Eligible investors will receive that payout on 1 August.

Collins Foods is currently trading for $9.78 per share.

The other ASX All Ords share trading ex-dividend next week is resource explorer Red Hill Minerals Ltd (ASX: RHI).

On Monday management announced they had "resolved to pay a special dividend" of 10 cents per share, fully franked.

This comes after the company reported it had ended the 2023 financial year in a strong position.

The miner said it held approximately $39 million in cash, prior to the payment of the special dividend.

The ASX All Ords share is also due to receive the second of two $200 million payments under its Sale Agreement with Mineral Resources Ltd (ASX: MIN) upon first ore on ship.

Red Hill also trades ex-dividend on Monday. So to score the dividend payout you'll want to own the stock at market close on Friday. You can then expect that 10 cents per share dividend to hit your bank account on 18 July.

The ASX All Ords stock is currently trading for $4.65 per share.

The post 2 ASX All Ords shares trading ex-dividend next week appeared first on The Motley Fool Australia.

However, it's likely the company's shareholders are starting to get excited.

Red Hill Iron's notable dip coincides with the ex-dividend date for the company's special dividend. Notably, the dividend is worth 22.6% of the stock's previous closing price.

Additionally, the company released its non-price-sensitive annual report to the market last night.

At the time of writing, the Red Hill share price is $3.31. That's 37.43% lower than it was at the end of yesterday's session.

Let's take a closer look at the latest news from the iron miner, as well as its special dividend.

Red Hill share price tumbles on Thursday

The Red Hill share price is plummeting as the company's shareholders prepare to receive a fully franked $1.20 dividend.

Red Hill is handing back some of the initial $200 million it received from the sale of its 40% interest in the Red Hill Iron Ore Joint Venture to its shareholders.

The Red Hill Iron share price surged 269% when the company announced it was selling the asset to Mineral Resources Limited (ASX: MIN) in July.

Mineral Resources will pay Red Hill Iron another $200 million when the joint venture achieves its first production. It will also provide Red Hill with a 0.75% royalty on all future production at the joint venture and Mineral Resources' Bungaroo South tenements. Finally, for the first 10 years, Mineral Resources will provide Red Hill Iron with royalties from 2 mining tenements nearby the joint venture.

Though, Red Hill Iron still holds the right to mine the joint venture tenements for gold and base metal assets.

Red Hill's special dividend will be paid on 10 November to all who held the company's stock when the ASX closed yesterday.

Finally, Red Hill Iron released its annual report last night. Within it, the company's chair noted the company is still deciding if its Pannawanica Project is viable to mine.

It is also analysing drilling samples from its formerly owned joint venture to explore for gold and base metals.

The post What's caused the Red Hill Iron (ASX:RHI) share price to plummet 37% today? appeared first on The Motley Fool Australia.

At the time of writing, Red Hill Iron shares have accelerated on the announcement to $4.12, up 274.55%.

Details of the transaction

In a statement to the ASX, Red Hill Iron advised it has entered into a binding agreement with Mineral Resources Limited (ASX: MIN).

The deal will see Mineral Resources acquire the iron ore asset for $400 million over two instalments. The first $200 million will be paid in cash on completion of the sale agreement. The remaining $200 million will be due when the first commercial shipment of iron ore extracted from RHIOJV leaves the port.

In addition to the cash consideration, Mineral Resources will pay a royalty fee of 0.75% of free on board (FOB) revenue. This is based on all iron ore that is mined and sold from the Red Hill tenements and the company's Bungaroo South tenement. The latter is dependent on the condition the Bungaroo South tenement is developed in association with the RHIOJV tenements.

It's worth noting the sale is subject to shareholder approval and does not include other mineral rights over the RHIOJV tenements.

Red Hill has recommended its shareholders vote in favour of the proposed transaction. A meeting will be held on 2 September 2021 to allow shareholders to cast their votes on the sale.

The company noted that Mineral Resources has the necessary means to secure funding and develop the RHIOJV into production. As such, Mineral Resources intends to build a proposed private road, transporting ore to port within 2 years.

The RHIOJV tenements contain a mineral resource of 820 million tonnes (Mt) with a grade of 56.44% iron ore. Red Hill Iron owns a 40% stake while the remaining 60% interest is controlled by the Australian Premium Iron Joint Venture (APIJV).

About the Red Hill Iron share price

Shareholders will be gleefully smiling with Red Hill Iron shares zooming 275% higher today. Over the last 12 months, the company's share price has recorded gains of 2,525% and year-to-date above 1,600%.

This means if you invested $1,000 in Red Hill Iron shares this time last year, you would be sitting on $24,000. Not a bad return for watching your portfolio grow.

The post Up 275% today, Red Hill Iron (ASX:RHI) share price enters stratosphere appeared first on The Motley Fool Australia.

Atlas Iron Limited (ASX: AGO), BC Iron Limited (ASX: BCI), Mount Gibson Iron Limited (ASX: MGX), Grange Resources Ltd (ASX: GRR), Arrium Limited (ASX: ARI), Mineral Resources Limited (ASX: MIN) and US-listed Cliffs Natural Resources have all been named as producers facing production cuts over the next few years due to depletion of some of their mines as well as the unsustainability of some of their mines at low prices.

"Whether driven by price or depletion we expect the number of iron ore companies in Australia to dwindle by the end of the decade," says Citi.

At the same time, the big miners Rio Tinto Limited (ASX: RIO), BHP Billiton Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG) and Hancock Prospecting are all expected to increase production over the long term. Hancock Prospecting's Roy Hill is still ramping up to full production of 55 million tonnes a year, having begun operations late last year.

Citi also raised its forecasts for the commodity price for this year from US$47 a tonne to US$49 a tonne, and projected 2017 would average US$42 – up from their previous forecast of US$39 a tonne.

The investment bank says it remains bearish on the iron ore – despite the short-term upside thanks to better-than-expected Chinese steel output. The bank's forecasts for 2018 and 2019 are for US$38 a tonne and a modest recovery in 2020 to US$40 a tonne.

Here's what the iron ore price has been doing over the past 3 years.

Those prices would be bad news for the juniors – generally higher cost- producers, and probably spells the end of a number of junior iron ore explorers hopes of coming to market. Those include Brockman Mining, Iron Road Limited (ASX: IRD), Flinders Mines Limited (ASX: FMS), Red Hill Iron Limited (ASX: RHI) and API Management –  which holds a number of joint ventures in the Pilbara.

Foolish takeaway

Given the current commodity price, iron ore mines need to be massive in scale with many years of reserves to get their production costs down – ala Roy Hill. That makes it incredibly difficult for the junior miners and explorers to commercialise their projects and then survive for many decades.

Investors beware.

The post Can the junior iron ore miners survive? appeared first on The Motley Fool Australia.