Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher today:

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up 5% to $2.51. Investors may believe that rising tensions in the Middle East could lead to increased demand for its defence products. Last month, EOS announced that it secured a new order for Remote Weapon Systems (RWS) amounting to approximately $53 million. It advised: "The order is for EOS' flagship "Slinger" Counter-Drone Remote Weapon System (RWS), and the systems will be configured for naval deployment. The systems will be supplied with a range of weapon configurations, and include some systems with cannons."

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 5.5% to $9.21. This has been driven by the aforementioned tensions in the Middle East. Traders were scrambling to buy gold after Israel launched an attack on Iran's nuclear facilities. This has led to increased demand for safe haven assets, which in turn has led to the S&P/ASX All Ords Gold index jumping a sizeable 4.5% on Friday afternoon.

Renascor Resources Ltd (ASX: RNU)

The Renascor Resources share price is up 12% to 6.6 cents. This morning, this battery materials developer announced that South Australia's Minister for Planning has granted provisional development authorisation for its proposed commercial-scale Battery Anode Material (BAM) manufacturing facility in South Australia. The company's managing director, David Christensen, stated: "With this important regulatory milestone now achieved, we look forward to continuing our engagement with the Department for Housing and Urban Development, the City of Salisbury and the local community as we advance our plans to construct and operate a state-of-the art manufacturing facility in South Australia."

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up 7% to $25.13. Investors have been buying Woodside and other ASX energy stocks after oil prices surged in response to Israel's attack on Iran. According to CNBC, the WTI crude oil price is up a whopping 13% to US$76.78 a barrel and the Brent crude oil price is up 11.5% to US$77.31 a barrel. This has led to the S&P/ASX 200 Energy index charging 4.5% this afternoon.

The post Why EOS, Evolution Mining, Renascor, and Woodside shares are jumping 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 falling:

IDP Education Ltd (ASX: IEL)

The IDP Education share price is down 2% to $16.66. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has retained its hold rating on the language testing and student placement company's shares with a reduced price target of $20.00. Morgans is concerned about how restrictive policies could impact the company's key markets and lead to lower-than-expected service demand.

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is down over 1% to $57.38. This morning, analysts at Goldman Sachs downgraded the retail giant's shares to a sell rating with a new $50.00 price target (from $56.50). This implies a potential downside of approximately 13% from where its shares trade today. Goldman notes that the company faces "stronger competition on JBH AU from several fronts including expanding range at Amazon, recovery of execution from HVN, and intensifying competition from Officeworks."

PYC Therapeutics Ltd (ASX: PYC)

The PYC Therapeutics share price is down almost 5% to 10 cents. This follows the release of a trial update from the clinical-stage biotechnology company. PYC is developing a pipeline of first-in-class precision medicines for patients who have genetic diseases and have no treatment options available. Today's update revealed that the company has completed dosing in patient cohort 4 of the ongoing Single Ascending Dose (SAD) study. This is for its trial of patients with a blinding eye disease called Retinitis Pigmentosa type 11 (RP11). Judging by the share price reaction, investors appear to have seen something in the update that didn't meet their expectations.

Renascor Resources Ltd (ASX: RNU)

The Renascor Resources share price is down 11.5% to 11.5 cents. This may have been driven by profit-taking from some investors after the battery materials company's shares surged on Wednesday. Investors were buying the company's shares in response to the Federal Budget. They appear to believe that the company's proposed vertically integrated Battery Anode Material Manufacturing Project in South Australia could benefit from the Budget. The Government is investing $8.8 billion over the decade to strengthen critical minerals supply chains. This Budget establishes a production tax incentive for processing and refining critical minerals at an estimated cost of $7 billion over the decade.

The post Why IDP Education, JB Hi-Fi, PYC, and Renascor shares are falling today appeared first on The Motley Fool Australia.

The All Ordinaries Index (ASX: XAO) is up a healthy 0.5% in afternoon trade amid some tailwinds from the federal budget. But these three ASX All Ords shares are leaving those gains in the dust.

So, without further ado…

Three ASX All Ords stocks rocketing higher

First up is global education services provider IDP Education Ltd (ASX: IEL).

The IPD share price closed yesterday at $15.88. In earlier trading today, investors had bid up the ASX All Ords share to $18.07, up 13.8%. After some likely profit taking, shares are currently swapping hands for $16.75 apiece, up 5.5%.

IDP looks to be benefiting from the news that the stock is going to be included in the MSCI Global Small Cap Index commencing in June. This could see investors from across the world trading the stock.

Launched in 2001, MSCI notes:

The MSCI World Small Cap Index captures small cap representation across 23 developed markets countries. With 4,130 constituents, the index covers approximately 14% of the free float-adjusted market capitalisation in each country.

Also rocketing higher today is ASX All Ords share Chalice Mining Ltd (ASX: CHN).

Chalice Mining shares closed yesterday at $1.46. In afternoon trade today, they are changing hands for $1.60 apiece, up 9.8%.

With no fresh news out from Chalice Mining, investors may be buying shares with expectations that the Federal budget could offer ongoing tailwinds for the miner.

Among the details released last night, the government revealed its $22.7 billion Future Made in Australia (FMIA) plan will provide $13.7 billion in tax incentives for green hydrogen and processed critical mineral production.

That could align well with Chalice Mining's Julimar project in Western Australia, which hosts platinum group elements, nickel, copper, cobalt and gold. Chalice has previously flagged that the Julimar could provide the foundation for a world-class green metals project.

Which brings us to the third ASX All Ords share soaring today, Renascor Resources Ltd (ASX: RNU).

Renascor shares closed yesterday trading for 10 cents. Those same shares are currently swapping hands for 12 cents apiece, up a blistering 20% today.

Renascor also looks to be a beneficiary of potential additional government support for its graphite mining and processing operations.

On 30 April, prior to the release of the new budget, the ASX All Ords share reported:

The previously announced and conditionally approved $185 million loan facility from the Australian government's $4 billion Critical Minerals Facility has been approved to be utilised to fast track the construction of Renascor's proposed graphite mining and processing operation, the upstream portion of Renascor's Battery Anode Material (BAM) Project in South Australia.

The post 3 ASX All Ords shares going gangbusters on Wednesday 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 climbing:

BHP Group Ltd (ASX: BHP)

The BHP Group share price is up 2.5% to $44.21. This appears to have been driven by news that its takeover target Anglo American (LSE: AAL) has announced a divestment plan. This plan will see the miner offload its coal, platinum, and nickel assets in order to focus on its potash, copper, and iron ore assets. The market appears to believe this could be a sign that the takeover won't happen and that Anglo American intends to go it alone after rejecting two bids from BHP. The market has never been overly sure about the deal and appears to be responding positively to the prospect of this being the end of the matter.

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up 2% to $5.78. This follows news that the uranium developer has uncovered copper during its drilling campaign at the Honeymoon project. Given that uranium and copper are the two hottest commodities in 2024, the market appears excited by the news. It is worth noting that Boss Energy intends to let First Quantum Minerals (TSE: FM) do the hard work for it with a farm-in agreement. This "enables Boss to remain fully-focused on its core business of uranium exploration, development and production while having exposure at no cost to the significant potential of a base metals exploration program led by a global major."

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's Pizza share price is up 2% to $38.76. A number of consumer stocks are rising today in response to the Federal Budget. Investors may believe that the government's plans will put more disposable income in the pockets of consumers. This could give this pizza chain operator's sales a boost in Australia.

Renascor Resources Ltd (ASX: RNU)

The Renascor Resources share price is up 20% to 12 cents. The market appears to believe that the company's proposed vertically integrated Battery Anode Material Manufacturing Project in South Australia could benefit from the Federal Budget. The Government is investing $8.8 billion over the decade to strengthen critical minerals supply chains. This Budget establishes a production tax incentive for processing and refining critical minerals at an estimated cost of $7 billion over the decade.

The post Why BHP, Boss Energy, Domino's, and Renascor shares are racing higher appeared first on The Motley Fool Australia.

At the time of writing, the ASX small-cap mining stock is up over 32% to 11 cents.

Why is this ASX small-cap mining stock rocketing?

Investors have been fighting to get hold of the graphite developer's shares today after it announced the receipt of major government funding.

According to the release, Export Finance Australia (EFA) has confirmed and approved a $185 million loan facility from the Australian Government's $4 billion Critical Minerals Facility.

These funds will be used to fast-track the construction of the upstream portion of the BAM Project.

The BAM Project combines the Siviour Graphite Deposit in South Australia, which is the largest reported graphite reserve outside of Africa, and a state-of-the-art processing facility in South Australia. It will manufacture Purified Spherical Graphite for the electric vehicle battery supply chain through Renascor's eco-friendly purification process.

The loan facility comprises a $150 million term facility and a $35 million cost overrun facility to support any unforeseen increase in capital cost through construction.

The ASX small-cap mining stock advised that the drawdown of the loan facility will be subject to a number of conditions. This includes the completion of all due diligence to the satisfaction of EFA.

Though, it highlights that EFA has been progressing with its due diligence on the upstream Graphite Concentrate operation. It notes that aspects of the due diligence have been completed already and no fatal flaws were identified.

'Delighted'

The ASX small-cap mining stock's managing director, David Christensen, was delighted with the news. He stated:

We are delighted to have received confirmation that the A$185 million conditionally approved loan from the Critical Mineral Facility is approved to support our strategy of fast-tracking the construction of the upstream portion of the BAM Project. Our phased development strategy provides us with an early-mover advantage by entering the market with reliable supply of natural graphite concentrates from Australia, an IRA-aligned jurisdiction.

The strategy allows us to generate early cashflows, accelerate production of graphite concentrates, continue to build valuable offtake relationships with leading anode suppliers, operate and optimise the PSG Pilot Plant and PSG product qualification, and de-risk the subsequent development of the downstream PSG processing facility. In the Siviour graphite deposit, Renascor is fortunate to be endowed with a large world class asset. The support from the Australian Government and EFA is testament to the gravity of the opportunity for Renascor, and Australia, to become a world-leading supplier of graphite into the Lithium-ion battery supply chain.

Renascor's shares remain down over 50% on a 12-month basis despite today's monster gain. Shareholders will no doubt be hoping today is a turning point.

The post Guess which ASX small-cap mining stock is rocketing 32% today appeared first on The Motley Fool Australia.

At the time of writing, the ASX 200 is up 0.43%.

Meantime, ASX mining giant BHP Group Ltd (ASX: BHP) is up 0.84% to $45.55. Fortescue Ltd (ASX: FMG) shares are up 0.64% to $28.26. Rio Tinto Ltd (ASX: RIO) shares are up 1.24% to $128.97.

Australia has long been known as one of the world's biggest suppliers of iron ore.

But the Federal Government wants to see Australia diversify and become a clean energy superpower, given we have large deposits of almost every mineral the world needs for the green energy transition.

Billions to be budgeted for Australia's clean energy revolution

Some funding schemes are already in place to support the development of Australia's renewable energy sector. But the Prime Minister intends to announce bigger plans on Friday evening.

According to the Australian Financial Review, Labor is planning a multibillion-dollar initiative along similar lines to the United States' highly successful $624 billion Inflation Reduction Act (IRA).

The IRA may be an inflation-fighting measure in name, but it is well-known for its clean energy incentives.

The IRA contains $US437 billion in subsidies specifically earmarked for projects in the clean energy space.

Fortescue executive chair Andrew "Twiggy" Forrest AO has previously commented that the IRA has encouraged his Fortescue Future Industries (FFI) business to invest in the US instead of Australia.

Prime Minister Anthony Albanese will deliver a speech in Newcastle tonight. In it, he will push Labor's case for investing multi-billions more to make Australia a renewable energy superpower.

He plans to say that achieving this will require the government to be a "partner … not just an observer".

Albanese will cite unprecedented investments by other Western governments to grow their clean energy industrial bases, such as the US, Europe, Japan and Korea.

The Prime Minister will say:

We don't have to go dollar-for-dollar in our spending, but we can go toe-to-toe on the quality and impact of our policies.

In all of this, we must be prepared to think big.

The new initiative will likely involve a combination of subsidies and co-investment offers to clean energy businesses.

What's happening in Australia's renewable energy sector?

Forrest has been at the forefront of the Australian mining industry's decarbonisation efforts and its diversification into renewable energy.

Fortescue aims to decarbonise its iron ore mining operations, while also developing Fortescue Future Industries. FFI is a separate business invested in green hydrogen and green ammonia projects.

The other two big miners are also targeting the global green energy transition for business development. Both BHP and Rio Tinto have invested heavily in growing their copper segments, for example.

Many other smaller ASX mining shares and ASX energy shares are solely focused on renewable energy opportunities, as well as mining the critical minerals essential to the world's green energy transition.

Examples among ASX mining shares include Core Lithium Ltd (ASX: CXO), which mines the white metal required to make electric vehicle (EV) batteries.

Other lithium players among ASX mining shares include Pilbara Minerals Ltd (ASX: PLS), Mineral Resources Ltd (ASX: MIN), and IGO Ltd (ASX: IGO), which also mines nickel.

Graphite is also essential for EV batteries, and ASX mining share Renascor Resources Ltd (ASX: RNU) is seeking investment for its South Australian operations.

The post ASX mining shares up amid Labor plan to spend multibillions on renewables revolution appeared first on The Motley Fool Australia.

The prospectus showcases 52 high-quality, investment-ready critical minerals projects that the government hopes will attract further local and international investment.

Let's check out which ASX mining shares have projects being spruiked by the government.

5 ASX mining shares with projects in the prospectus

The prospectus forms part of the Critical Minerals Strategy 2023-2030.

The strategy aims to make Australia a globally significant producer of raw and processed critical minerals.

The purpose of the prospectus is to attract investment from local and global investors to help Australia develop new mines and build the new industries it needs to become a renewable energy superpower.

Here are five ASX mining shares featured in the prospectus:

Core Lithium Ltd (ASX: CXO)

Core Lithium is Australia's newest lithium producer. The government is spruiking its BP33 underground mine, which is currently the subject of an updated Feasibility Study ahead of a final investment decision (FID) due in the first quarter of 2024.

The Core Lithium share price is 19 cents, down 1.54% today and down 83.3% over the past 12 months.

Liontown Resources Ltd (ASX: LTR)

In the prospectus, the government tells investors that Liontown's Kathleen Valley hard-rock lithium project is world-class in scale and economics, with first production due in mid-2024. The government tells investors that Liontown will deliver US Inflation Reduction Act-compliant material to Tier 1 customers.

According to the prospectus:

Liontown is progressing studies into downstream processing options to convert spodumene concentrate into higher grade outputs. The Company is ideally positioned to be a fully integrated lithium producer to capture long-term value from mine to end-use in the EV market.

The ASX lithium mining share is currently fetching 98 cents. It's down 1.01% today and down 37.8% over the past 12 months.

Iluka Resources Limited (ASX: ILU)

The government is seeking funding to help Iluka build the Eneabba Refinery, Australia's first fully integrated rare earths refinery. It is due for commissioning in late 2025.

Also featured was Iluka's high-grade Balranald critical minerals deposit. It contains significant amounts of rutile, zircon, and other rare earths. Iluka began construction in August and expects this to take 18 months. Commissioning is currently scheduled for Q1 2025.

The ASX mining share is currently worth $7.20, up 1.7% today and down 36.1% over the past 12 months.

Neometals Ltd (ASX: NMT)

Neometals owns one of the world's largest and highest-grade hard-rock titanium and vanadium deposits.

The government says the company is open to discussions regarding project equity ownership, joint venturing, project financing and offtake for the Barrambie project. With a significant Mineral Resource Estimate and Ore Reserve, and a pre-feasibility study completed last May, the project is mine-ready.

The Neometals share price is 14 cents, down 2.14% today and down 83.5% over the past 12 months.

Renascor Resources Ltd (ASX: RNU)

The government is seeking backing for Renascor's vertically integrated processed graphite operation in South Australia. It will process graphite concentrate from the company's Siviour mine and concentrator on the Eyre Peninsula as well as from a battery anode material (BAM) processing facility in Bolivar.

Renascor completed the BAM Feasibility Study last year.

This ASX mining share is changing hands for 7.9 cents, up 1.3% today. It has fallen 70.7% over the past 12 months.

Updates to the Critical Minerals List

In addition to seeking private investment through the prospectus, the government has also committed $4 billion in funding for critical minerals supply chain businesses through its Critical Minerals Facility.

In December, the government also updated its Critical Minerals List. The list highlights urgently required minerals that are essential for modern green technologies, economies and security.

The government considers them crucial to our own transition to net-zero emissions. They are also important for the development of our advanced manufacturing industry.

In the recent update, the government added fluorine, molybdenum, arsenic, selenium, and tellurium to the list and removed helium.

The government has also introduced a Strategic Minerals List.

This list comprises six minerals considered important for the global energy transition but which are not currently in short supply. They are copper, nickel, aluminium, phosphorous, tin, and zinc.

Minister for Trade and Tourism, Don Farrell said:

Australia is on the cusp of a golden age in critical minerals development.

This Prospectus showcases many game-changing Australian critical minerals opportunities for international investors. We have an abundance of minerals with a strong regulatory environment, and a range of free trade agreements with countries in need of our resources.

The post 5 ASX mining shares with projects being spruiked by the Australian Federal Government appeared first on The Motley Fool Australia.

This side of the market is absolutely booming today despite the broad weakness which is dragging the ASX 200 index 0.9% lower at the time of writing.

Here's the state of play in the industry currently:

• The Novonix Ltd (ASX: NVX) share price is up 11.5% to 73 cents.
• The Renascor Resources Ltd (ASX: RNU) share price is up 18% to 13 cents.
• The Syrah Resources Ltd (ASX: SYR) share price is up 25% to 66.5 cents.
• The Talga Group Ltd (ASX: TLG) share price is up 12% to $1.11.

What's going on with ASX graphite shares?

Investors have been scrambling to buy these shares today after China announced plans to restrict graphite exports.

Given that China is the world's top graphite producer and exporter, and also refines more than 90% of the world's graphite for use in virtually all electric vehicle battery anodes, this could have a major impact on the market.

According to Reuters, China made the move in a bid to control critical mineral supply in response to challenges over its global manufacturing dominance. China's commerce ministry revealed that the move was "conducive to ensuring the security and stability of the global supply chain and industrial chain, and conducive to better safeguarding national security and interests."

Chief commercial officer at Alkemy Capital Investments, Kien Huynh, told the media outlet:

This bold and unexpected move by China in graphite has taken us by surprise, arriving far sooner than anyone could have predicted.

It certainly will have taken short sellers targeting Syrah Resources by surprise today. As we revealed here earlier, the ASX graphite share is one of the most shorted shares on the Australian share market with a short interest of 10.8%.

If this boosts graphite prices outside China, it could be very good news for the company. That's because prices and demand have been so low this year that Syrah has been shutting down its operations periodically to conserve cash. This may not be necessary in the near future.

Comments from Kang Dong-jin, an analyst at Hyundai Motor Securities, certainly sound positive for Syrah and its locally listed peers. He said:

With this new graphite export curb, South Korean firms which heavily rely on China for graphite imports would need to seek alternatives, such as mines from the United States or Australia, but it would likely increase the cost burden for many.

The post What's sending ASX graphite shares racing higher on Monday? appeared first on The Motley Fool Australia.

The shares are currently sitting at 14 cents apiece.

They took a 23% dive yesterday despite the ASX mineral explorer announcing "compelling economics" for its proposed graphite project.

Renascor Resources owns the Siviour Graphite Deposit in South Australia. This is the second-largest graphite reserve in the world.

The company wants to build a battery anode material (BAM) project at the site. This will incorporate a vertically integrated graphite mine and downstream processing operation.

Today, Renascor announced a licensing deal with German battery mineral consultancy group Dorfner ANZAPLAN GmbH.

The agreement will allow Renascor to use Dorfner's eco-friendly purification process for its downstream processing plant at Siviour.

The process eliminates the need to use hydrofluoric acid in the production of purified spherical graphite (PSG). This type of graphite is used in lithium-ion batteries.

Trials designed to increase efficiencies resulted in the development of the unique purification process.

These efficiencies include reduced leaching steps and less water consumption than traditional methods.

The trials resulted in PSG that met or exceeded lithium battery anode purity specifications.

The results came in at up to 99.99% carbon compared to the anode industry standard of 99.95%.

As we reported yesterday, Renascor has just released the study results for its proposed project.

The study incorporates the new purification process into the engineering design for the PSG facility.

According to the study, Renascor will be able to produce 150,000 tonnes per annum (tpa) of graphite concentrate over a 40-year life of mine and 100,000 tpa of PSG.

Renascor Resources share price snapshot

The Renascor Resources share price has fallen 35% over the past 12 months.

The post Renascor Resources share price tumbles again despite licensing deal appeared first on The Motley Fool Australia.

Renascor Resources owns the Siviour Graphite Deposit in South Australia.

Siviour is the second-largest proven graphite reserve in the world. The largest is in Africa.

Renascor wants to build a vertically integrated graphite mine and downstream processing project, and yesterday released the results of a revised study of its proposed operation.

On Tuesday, the company's share price closed 5.3% lower while today it has shed another 16.7% so far. Let's take a closer look at the study's findings.

Renascor Resources share price falls despite 'compelling economics' for project

The miner says the study results reveal "compelling economics" for the operation.

It says the results confirm Siviour will be "a low-cost, high-value supplier of 100% Australian-made graphite for lithium-ion battery anodes".

The project has an estimated post-tax unleveraged NPV10 of $1.5 billion. It has a post-tax unleveraged IRR (internal rate of return) of 26%, and an average annual EBITDA of $363 million.

The study projects 150,000 tonnes per annum of graphite concentrate production over a 40-year mine life.

It also projects downstream processing of 100,000 tpa of purified spherical graphite (PSG).

This is the type of graphite used almost exclusively in the anode part of lithium-ion batteries.

The study estimates PSG gross operating costs over the first 10 years of US$1,782 per tonne and US$1,846 per tonne over the life of the mine.

This includes graphite concentrate operating costs of US$405 per tonne over the first 10 years and US$472 per tonne over the mine's life.

The company will build the upstream graphite concentrate mine first at a cost of $214.5 million.

Renascor Resources will fund this using its existing cash balance of $129 million and debt facilities.

The next step will be building the downstream PSG facility at a cost of $394.6 million. Renascor hopes to commence production in 2026.

How will Renascor fund its project?

The company has received a conditionally approved $185 million loan through the federal government's Critical Minerals Facility program.

Renascor is also progressing discussions with Export Finance Australia (EFA) and the Clean Energy Finance Corporation (CEFC).

It's also tapping commercial lenders and its potential offtake partners for additional funding.

Renascor Resources has non-binding strategic cooperation and offtake agreements in place with global giants POSCO and Mitsubishi Chemical Group Corp.

Global manufacturers want alternatives to China

Renascor Resources says anode manufacturers around the world are keen to secure supply from low-risk mining jurisdictions like Australia.

In terms of PSG, China is currently the only producer in the world.

Renascor says its market data suggests average operating costs of approximately US$2,000 per tonne in China, so the Siviour Project will be substantially cheaper at US$1,782 per tonne over the first 10 years.

The company says:

Renascor offers a secure alternative source, which Renascor considers as a competitive advantage with potential offtakers seeking to diversify existing supply channels.

The advantage of Australian supply has recently become more relevant as a result of policy initiatives in North America and Europe aimed at securing graphite supply and other critical minerals.

Initiatives such as the Inflation Reduction Act in the United States provide incentives that favour raw material supply chains from free trade partners like Australia.

Proposed European legislation is similarly targeting supply from secure jurisdictions such as Australia as alternatives to Chinese sources.

What did management say?

Commenting on the BAM Study, Renascor Managing Director David Christensen stated:

By integrating the world class Siviour Graphite Deposit with an in-country downstream manufacturing facility, the BAM Study provides a clear path to creating a competitive advantage as a low-cost producer of Purified Spherical Graphite.

We look forward to using the results of this study to assist in securing binding offtake and funding to permit us to advance into construction and operation of an important new supply line for the lithium-ion battery industry.

Renascor seeking first mover advantage

Renascor Resources expects the overall market for graphite concentrates to increase by approximately 60% from 1.2 million tonnes per annum now to 2.9 million tonnes in 2029.

Lithium battery manufacturers will buy an increasing share of graphite concentrates as the take-up of electric vehicles increases.

Demand for PSG is projected to rise by 315% from about 380,000 tonnes in 2022 to 1.2 million in 2030.

The company said:

The development plan adopted in the BAM Study, which provides for the accelerated start-up of the Graphite Concentrate operation, is intended to offer Renascor a potential early-mover advantage by entering the market at the time of growing undersupply, which Renascor expects will lead to increased prices.

Since 2022, PSG prices have ranged between US$2,000 and US$3,800 per tonne.

The current reported spot price is US$2,475 per tonne.

Marketing consultant Fastmarkets forecasts the PSG price to rise from US$4,150 per tonne in 2024 to US$5,035 in 2033. It projects an average of US$4,716 over the next decade.

Renascor Resources share price snapshot

The Renascor Resources share price has risen in value by 625% over the past five years.

Over the past 12 months, the Renascor Resources share price has dipped 34%.

The post Renascor Resources share price crashes 20% despite positive study results 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 pushing higher:

Ampol Ltd (ASX: ALD)

The Ampol share price is up 4% to $31.00. This follows the release of the fuel retailer's half-year update. Ampol reported unaudited replacement cost operating profit (RCOP) earnings before interest and tax (EBIT) of $575 million for the half. This was driven by strong performances from its non-refining divisions compared to the prior corresponding period.

Imugene Limited (ASX: IMU)

The Imugene share price is up 10% to 10.25 cents. This morning, this biotechnology company revealed that it has received a core patent from the United States Patent and Trademark Office. The patent protects its oncolytic virotherapy CF33 products, including VAXINIA and CHECKVacc. Both the method of composition and method of use of its licensed oncolytic virotherapy will be protected until 2037.

Mount Gibson Iron Ltd (ASX: MGX)

The Mount Gibson Iron share price is up 9% to 48.5 cents. Investors have been buying this iron ore miner's shares following its quarterly update. Mount Gibson advised that it had a strong finish to FY 2023 as the operating turnaround accelerated at the Koolan Island iron ore mine. This led to record high grade shipping rates being achieved in the June quarter. For FY 2023, full-year sales exceeded guidance at 3.0 Mmwt at an average grade of 65.3% Fe.

Renascor Resources Ltd (ASX: RNU)

The Renascor Resources share price is up 2.5% to 20 cents. This has been driven by news that graphite developer has entered into a non-binding strategic cooperation memorandum of understanding with Japanese anode material manufacturer Mitsubishi Chemical Corporation. It is Japan's largest chemical corporation and one of the world's largest producers of lithium-ion battery anode materials.

The post Why Ampol, Imugene, Mount Gibson Iron, and Renascor shares are pushing higher appeared first on The Motley Fool Australia.

Four ASX shares that have managed to avoid the selloff and push higher are listed below. Here's why they are rising:

Global Lithium Resources Ltd (ASX: GL1)

The Global Lithium share price is up 2% to $1.67. This is despite there being no news out of the lithium developer. However, it is worth noting that Shaw & Partners put out a bullish broker note in relation to the company last week. Its analysts have a buy rating and a $3.50 price target on its shares. This is double its current share price.

Latin Resources Ltd (ASX: LRS)

The Latin Resources share price is up 3% to 32.5 cents. Once again, this is despite there being no news out of the lithium developer. Though, late last month, the team at Bell Potter reiterated its speculative buy rating on the company's shares with an improved price target of 37 cents.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 2% to $1.95. This morning, this gold miner reported record annual production for FY 2023. Gold production came in at 458,354 ounces, which was within its original FY 2023 production guidance range of 450,000 ounces to 500,000 ounces. Regis Resources ended the period with cash and bullion of $243 million.

Renascor Resources Ltd (ASX: RNU)

The Renascor Resources share price is up 2.5% to 19.5 cents. This follows an update on drilling activities at the Siviour Graphite Deposit. Renascor advised that its latest drilling confirms a major extension to the deposit. Assays are demonstrating the continuity of widespread, high-grade graphite over an area extending over 3 kilometres immediately north of the current mineral resource.

The post Why Global Lithium, Latin Resources, Regis Resources, and Renascor shares are rising appeared first on The Motley Fool Australia.

Renascor Resources says it is in the "advanced stages" of revising its Battery Anode Material Study (BAM Study) for the site in Bolivar.

The company expects to complete the study in July.

Let's look at the details of the update shortly.

First, some quick background on this ASX small-cap share.

Renascor Resources share price finishes in the red

The ASX graphite share finished down 8.7% to 21 cents at the market close on Wednesday.

Renascor Resources is looking to capitalise on the clean energy movement by developing a vertically integrated graphite mine and manufacturing project.

The aim is to produce sustainable and ethically sourced battery anode material for the lithium battery market.

One of Renascor's points of difference is an eco-friendly purification process to produce purified spherical graphite (PSG).

This is the type of graphite used in the anode component of lithium batteries.

The Siviour Project has three divisions:

• The Siviour Graphite Deposit — the world's second-largest proven graphite reserve and the largest outside of Africa
• The Siviour Graphite Mine and Concentrator — a conventional open-pit mine and a crush, grind, and
  float processing plant
• A Battery Anode Material Production Facility — for the manufacturing of PSG.

What's in the BAM Study?

As part of the study, Renascor is considering whether it can lift production capacity and also develop a plan for staged operational expansion "to meet projected demand".

The company has previously estimated production at 28,000 tonnes of graphite per annum.

Renascor says it can speed up the start of construction of its upstream processing plant. It intends to begin buying long-lead time infrastructure items this quarter.

It will also commence the tendering for front-end engineering and design (FEED) this quarter.

The company says all engineering work on the upstream mine and concentrator is complete.

It is nearing completion of the engineering and design work on the downstream operation.

Inflation likely to push costs higher

The revised BAM Study will include revised cost estimates for building the project.

In its statement, Renascor said:

While it is anticipated that the estimated capital costs will be subject to inflationary pressures, Renascor expects the improvements in productivity and the strong graphite market outlook will ensure the BAM project will continue to demonstrate robust returns and support a favourable final investment decision later this year.

Renascor Managing Director David Christensen said:

Our technical team is making excellent progress on our updated, optimised Battery Anode Material Study which seeks to increase our projected PSG production capacity to meet the growing demand for graphite in lithium-ion batteries.

We look forward to the completion of the BAM Study and our transition into the construction phase of a long-life operation that will produce globally competitive, 100% Australian-made battery anode material.

Renascor says its graphite deposit is unique due to its scale and near-surface, flat orientation.

The company says this will allow it to produce low-cost graphite concentrate over a 40-year mine life.

What's the future for graphite?

Benchmark Mineral Intelligence predicts graphite demand will grow at an annual compound rate of 10.5% over the next 10 years, but supply will only expand by 5.7% per annum.

Benchmark's Natural Flake Graphite Forecast tips the battery industry will consume two-thirds of the world's flake graphite by 2025, increasing to 79% in 2030.

Renascor Resources share price snapshot

The ASX mining share has risen in value by 606% over the past five years.

Over the past 12 months, the Renascor Resources share price has dipped 29%.

The S&P/ASX All Ordinaries Index (ASX: XAO) fell by 0.6% over the same period.

The post Renascor Resources share price dives 9% on new mine update appeared first on The Motley Fool Australia.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down almost 8% to $1.21. This decline appears to have been triggered by a bearish broker note out of Goldman Sachs. This morning the broker initiated coverage on the lithium developer with a sell rating and $1.00 price target. Goldman highlights that the Core Lithium share price is trading at a premium to peers and on low forecast free cash flow multiples.

Downer EDI Ltd (ASX: DOW)

The Downer share price is down a massive 22% to $3.75. Investors have been hitting the sell button after the engineering and construction company identified certain accounting irregularities in its Australian Utilities business. The irregularities are estimated to result in a historical overstatement of pre-tax earnings in the order of $30 million to $40 million at the end of November.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 4% to $3.25. This has been driven by an update on Dye & Durham's proposal to acquire Link's Corporate Markets business and all of the BCM business for $1.27 billion. Management advised that the conditional non-binding proposal has not been able to be progressed to a transaction that is certain, has committed financing, reflects appropriate value, and is on appropriate terms. As a result, talks have now ended.

Renascor Resources Ltd (ASX: RNU)

The Renascor share price is down 6% to 30 cents. This morning this battery materials developer announced the completion of a $70 million institutional placement. These funds were raised at a 14% discount of 27.5 cents per share. The proceeds from the placement will be used to progress the development of the Siviour Battery Anode Material (BAM) project.

The post Why Core Lithium, Downer, Link, and Renascor shares are dropping today appeared first on The Motley Fool Australia.

In morning trade, the battery materials explorer's shares are down 8% to 29.5 cents.

Why is the Renascor share price sinking?

The weakness in the Renascor share price has been driven by the company launching and completing a fully underwritten institutional placement.

According to the release, the company has raised approximately $70 million from institutional investors at a 14% discount of 27.5 cents per share.

The proceeds from the placement will be used to progress the development of the Siviour Battery Anode Material (BAM) project.

Management notes that on a pro forma basis, Renascor is well-funded with a cash balance of $140 million at 30 November 2022.

'A transformational year'

Renascor's managing director, David Christensen, appeared to be very pleased with the news. He said:

The completion of this Placement caps off a transformational year for Renascor. The strong demand received from both domestic and offshore institutional investors is a testament to the world-class nature of the BAM Project and the significant steps undertaken by the Company to progress its development, following the recent receipt of the PEPR approval and grant of a conditional A$185 million Australian Government loan under the Critical Minerals Facility.

Christensen also revealed that the placement received strong support from both new and existing institutional investors. He added:

The Placement was well supported by existing Renascor shareholders and will also see a range of new institutional investors join the register. The introduction of these high-quality investors, together with the support shown by existing shareholders, has provided Renascor with the flexibility to bring forward construction and operation of the Siviour upstream operations and allows the Company to take a staged, de-risked approach to BAM Project development.

Renascor expects to progress the BAM Project towards a final investment decision in 2023.

The post Why is the Renascor Resources share price sinking 8% on Thursday? appeared first on The Motley Fool Australia.

That's because this morning, the battery materials explorer requested a trading halt.

Why is the Renascor share price paused?

The Renascor share price was halted this morning so the company could undertake a fully underwritten institutional placement.

According to the release, the placement aims to raise approximately $70 million from institutional investors at 27.5 cents per share.

While this represents a 14% discount to its last close price, it is significantly higher than where the Renascor share price was trading 12 months ago, as you can see below.

Why is it raising funds?

Renascor advised that the proceeds will be used to fund the development of the Siviour Battery Anode Material (BAM) Project in South Australia.

This follows the recent approval from the South Australian Department of Energy and Mining of the Program for Environment Protection and Rehabilitation (PEPR) for its proposed Siviour Mine and Concentrator in South Australia.

Management believes the placement is another successful step toward Renascor's goal of powering Australia's clean energy transition through the development of its vertically integrated manufacturing operation to produce sustainable and ethically-sourced battery anode material for the lithium-ion battery market.

Renascor's managing director, David Christensen, commented:

Renascor's ambition is to become a reliable supplier of 100% Australian-made purified spherical graphite for lithium-ion battery anode makers worldwide. The funds raised via this Placement, together with the recently received PEPR approval, bring us significantly closer to realising this objective, as we look to accelerate our development timeline by bringing forward the commencement of construction of the Siviour mine and concentrator.

We now look forward to completing our Optimised BAM Study and ultimately reaching a Final Investment Decision next year. On behalf of Renascor board and management, I wish a warm welcome to our new shareholders and thank all our existing institutional and retail shareholders for their ongoing support.

The post Why is the Renascor Resources share price on ice today? appeared first on The Motley Fool Australia.

Share markets have been buoyed by signs that inflation may have peaked and the pace of interest rate hikes could slow.

So, as optimism abounded, the ASX All Ords index continued its recovery, gaining 6.0% across the month to close out spring at 7,480 points.

As always, some ASX All Ords shares were soaring to loftier heights than the rest.

Without further ado, here are the three best-performing ASX All Ords shares in November in terms of share price gains.

Aeris Resources Ltd (ASX: AIS)

Topping the ASX All Ords tables in November was mid-tier base and precious metals producer Aeris Resources.

The Aeris Resources share price shot up 64% across the month to finish at 53 cents as its market capitalisation ballooned to $366 million.

On the last day of October, Aeris released its first-quarter results, which were met with an 18% share price slide.

But it appears this was a knee-jerk overreaction. As the market digested the results, the Aeris share price stormed higher, which set the tone for the rest of the month.

The biggest announcement from Aeris in November came in the form of a mineral resource update.

The ASX miner revealed an updated mineral resource estimate (MRE) for the Turbo lens at the Bentley deposit, located at Aeris' 100%-owned Jaguar Operations in Western Australia. 

The updated mineral resource materially increased the ore tonnes and metal content at the Turbo lens. The MRE now stands at 1.26 million tonnes at 1.82% copper, 8.5% zinc, 0.72 grams per tonne (g/t) gold, and 47g/t silver.

What's more, the drilling campaign resulted in the majority of the resource classification being upgraded to indicated status.

Renascor Resources Ltd (ASX: RNU)

The next cab off the rank is another ASX miner, with Renascor Resources taking out the title of the second best-performing ASX All Ords share in November.

The Renascor share price had a spring in its step, flying 59% across the month to finish at 35 cents. The company's market cap currently stands at around $750 million. 

Renascor is an exploration and development company with a portfolio of projects in South Australia. Its flagship project is the Siviour battery anode material project, the world's second-largest proven graphite reserve.

The Renascor share price steadily climbed throughout the month. Similarly to Aeris, Renascor released its quarterly results on the last day of October.

Following this, the company kicked off November by presenting at the International Mining and Resources Conference in Sydney. 

It was then radio silence for the rest of the month until Rensacor revealed it had received a key approval for its Saviour Project.

Specifically, the South Australian Department of Energy and Mining has granted Renascor approval for the Program for Environment Protection and Rehabilitation (PEPR) for its proposed Siviour mine and concentrator.

The PEPR approval permits Renascor to process up to 1.65 million tonnes per annum. This would allow the ASX All Ords share to produce up to 150,000 tonnes of graphite concentrates per year.

With this approval under its belt, Renascor can now develop the upstream graphite mine and concentrator portion of the Siviour project.

Ainsworth Game Technology Limited (ASX: AGI)

Last but not least, Ainsworth Game Technology rounds out the podium finishes with a whopping share price gain of 58% in November.

Ainsworth designs and manufactures a range of slot machines and a catalogue of standalone and linked games. The ASX gaming share currently boasts a market cap of $420 million.

It was a rather quiet affair at Ainsworth for most of the month, with its share price marching upward despite no news coming from the company.

But the Ainsworth share price received an added boost when the ASX All Ords share held its 2022 annual general meeting (AGM) at the end of November.

Notably, the company instated guidance at its AGM. Based on its current forecasts, Ainsworth expects to achieve around $18 million in normalised profit before tax in the first half of FY23.

The company is building on strong momentum, which saw it deliver normalised profit before tax of $17.3 million in 2H22, up considerably from $10.0 million in 1H22.

Looking ahead, Ainsworth expects to have continued growth in North America, further improvements in Latin America, and steady performance in Australia.

The post These were the 3 best-performing ASX All Ords shares in November appeared first on The Motley Fool Australia.

Or, maybe you're just keen to jump aboard the possible 'Santa Rally', if ASX share prices do, indeed, enjoy a traditional festive boost in December.

For their thoughts on which companies should be on your wish list, we asked our Foolish contributors to make a list and check it twice.

These are the ASX shares they reckon will help make for a merry investment portfolio:

8 best ASX shares for December 2022 (smallest to largest)

• Shaver Shop Group Ltd (ASX: SSG), $145.42 million
• Renascor Resources Ltd (ASX: RNU), $635.68 million
• Lovisa Holdings Ltd (ASX: LOV), $2.53 billion
• JB Hi-Fi Limited (ASX: JBH), $4.89 billion
• Carsales.com Ltd (ASX: CAR), $7.76 billion
• Xero Limited (ASX: XRO), $10.44 billion
• Mineral Resources Limited (ASX: MIN), $15.9 billion
• Brambles Limited (ASX: BXB), $16.69 billion

(Market capitalisations as of 30 November 2022)

Why our Foolish writers love these ASX shares

Shaver Shop Group Ltd

What it does: Shaver Shop operates a network of shops across Australia and New Zealand as well as an established online channel. It's a speciality retailer of male and female personal grooming products and also sells products relating to oral care, hair care, massage, air treatment, and beauty.

By Tristan Harrison: According to Shaver Shop, it operates in a sector with a $10 billion total addressable market. By 2026, this market is forecast to grow to $12 billion. Furthermore, major brands stocked by Shaver Shop release new products every year, giving the ASX company more opportunities to sell the latest high-tech products.

Shaver Shop is planning to continue growing its store network, increase its range, and grow its contribution from exclusive products. Currently, more than 50% of sales and around 60% of gross profit come from the company's exclusive lines.

FY23 sales to 6 November 2022 saw total sales growth of 13% year over year, with gross profit margins "consistently up" on the prior year.

Shaver Shop shares are valued at just seven times FY24's estimated earnings with a projected FY24 grossed-up dividend yield of 14.1%.

Motley Fool contributor Tristan Harrison does not own shares in Shaver Shop Group Ltd.

Renascor Resources Ltd

What it does: Renascor engages in the exploration of minerals such as graphite, as well metals including gold and copper, among others. It has projects located within South Australia.

By Matthew Farley: Renascor has been announcing some positive developments of late. These included the company forecasting strong demand for its purified spherical graphite product.

The materials explorer also recently received government approval to move ahead with plans for its Siviour Mine and Concentrator. According to Renascor, this brings it "another key step closer to becoming a producer of 100% Australian-made Purified Spherical Graphite".

Once fully operational, the company has the potential to produce up to 150,000 tonnes of graphite concentrates per annum.

Despite some recent positive momentum, it should be noted that Renascor is currently unprofitable. The company was running at a $1.5 million loss for the trailing 12 months ending 30 June 2022.

Loss-making companies are generally much riskier investments than those consistently generating earnings and profit, so caution should be exercised before jumping in. But for those who are prepared to carry the risk, I believe Renascor could be a speculative ASX investment worth considering.

Motley Fool contributor Matthew Farley does not own shares in Renascor Resources Ltd.

Lovisa Holdings Ltd

What it does: Lovisa is a fashion jewellery retailer and, increasingly, a shopping centre staple. After starting out with a single Sydney store in 2010, Lovisa stores can now be found in 25 countries around the globe.

By Brooke Cooper: 'Tis the season for sparkles, whether they be lights in trees, bubbles in glasses, or shiny new trinkets. December has also turned my attention to retailer of sparkly things, Lovisa.

The company has been doing particularly well this year. It was added to the S&P/ASX 200 Index (ASX: XJO), has doubled its full-year profits, and most recently announced a strong start to this fiscal year.

It's also been growing its international footprint and dividends, increasing the latter by 95% in financial year 2022.

And the future could be even brighter for the stock. UBS tips it to rise another 21% to $29, slapping it with a buy rating.

Motley Fool contributor Brooke Cooper does not own shares in Lovisa Holdings Ltd.

JB Hi-Fi Limited

What it does: JB Hi-Fi is a dominant retailer of electronics, home appliances and other consumables. Customers can choose from a wide range of goods at a JB Hi-Fi store, including mobile phones, computers and other tech, vinyl records, DVDs, televisions, refrigerators, and espresso machines.

By Sebastian Bowen: Chances are at least some readers will be heading to a JB Hi-Fi store sometime this month, so we have a fitting choice for the festive season.

I believe JB is one of the best-run retailers in the country. It has made an art of effortlessly pivoting to keep ahead of consumer trends, which explains why it sells more TVs than hi-fi equipment these days.

JB's share price has taken a hit over this year. And yet the company delivered an impressive set of full-year results back in August, reporting a 7.7% rise in net profits and a 52.8% lift in online sales.

With an earnings multiple under 10 and a fully franked dividend yield over 7%, I think this ASX 200 retail share is the perfect stocking stuffer this December.

Motley Fool contributor Sebastian Bowen does not own shares in JB Hi-Fi Limited.

Carsales.com Ltd

What it does: When it comes to buying or selling a car, there's no doubt that carsales.com is one of Australia's go-to websites. In fact, it's ranked number one in Australia under the vehicles category according to Similarweb, boasting 15.1 million total site visits last month. The online classifieds company provides a digital marketplace for new and used cars in Australia and internationally.

By Mitchell Lawler: The Carsales share price has been on the up and up since last month, rallying by more than 18%. Yet, the revved-up valuation still remains 11% discounted compared to where it was situated at the end of 2021.

I'm bullish on Carsales' future growth potential as it acquires the remaining 51% of US-based Trader Interactive. This move expands the company's exposure to international markets, reduces its reliance on Australian operations, and opens the door to recreational vehicles and power sports consumers (non-automotive).

I believe the sheer size of the US non-automotive market – double Australia's automotive market – is a desirable proposition. This could ultimately provide a greater runway for growth over the coming decade.

Motley Fool contributor Mitchell Lawler does not own shares in Carsales.com Ltd.

Xero Limited

What it does: Xero provides a cloud-based accounting software platform that connects small business owners with their numbers, their banks, and their advisors. It has 3.5 million subscribers and is a leader in cloud accounting across New Zealand, Australia, and the United Kingdom.

By James Mickleboro: With the Xero share price losing more than half its value in 2022, I think it is trading at a very attractive level for patient long-term investors. This is because I believe Xero is well-placed to continue its solid growth over the next decade, thanks to the quality of its platform, the structural shift to the cloud, and its significant global opportunity.

At the end of the first half of FY 2023, Xero had amassed 3.5 million subscribers with a lifetime value of NZ$13 billion. The former compares to its total addressable market of 45 million subscribers globally. In addition, the company continues to squeeze more dollars out of each subscriber with price increases and its growing app ecosystem.

Goldman Sachs appears to agree. It currently has a buy rating and $115 price target on its shares.

Motley Fool contributor James Mickleboro owns shares in Xero Limited.

Mineral Resources Limited

What it does: Mineral Resources is a diversified mining and mining services company. It has four business branches — iron ore, energy (gas), lithium, and mining services like crushing (in fact, it's the world's largest crushing contractor).

By Bronwyn Allen: I like the business diversity in this ASX mining share. Mineral Resources doesn't just dig stuff up; it provides services to other miners. What it does dig up are some of the world's hottest commodities today – iron ore, lithium, and gas.

I believe the company's lithium business is especially attractive. Mineral Resources is a global top-five lithium producer, and now it's investing heavily in the refining space. Electric vehicle (EV) pioneer Elon Musk describes refining as "like minting money" because it's refined lithium that is required in EV batteries and demand is sky-high.

Mineral Resources owns a stake in two of Australia's largest hard-rock lithium mines. Its partners are Chinese lithium giant Ganfeng Lithium Group Co Ltd (SHE: 002460) and US lithium behemoth Albemarle Corporation (NYSE: ALB).

It commands a 29% market share of the world's hard-rock supply. This company is an amazing growth story. It was listed on the ASX in 2006 with a market capitalisation of $100 million. Today it's worth $16 billion. It claims to have delivered the second-highest total shareholder return (TSR) growth of the ASX 200, at 30% per annum since listing. It's also increased its fully-franked dividends by 20% per annum for the past decade.

Today, it has a lot of broker support. Goldman Sachs says buy and has a $96 share price target. It reckons Mineral Resources will triple its earnings before interest, tax, depreciation and amortisation (EBITDA) in FY23. Macquarie says the company is valued at only four times its FY24 estimated earnings and could pay a grossed-up dividend yield of as much as 15.5% in FY24.

Motley Fool contributor Bronwyn Allen does not own shares in Mineral Resources Limited.

Brambles Limited

What it does: Brambles is a global transport and logistics company with operations in 60 countries and a market cap north of $16.5 billion. Its pallets and containers are used to transport goods across the world.

By Bernd Struben: With inflation and interest rates likely to remain elevated in 2023, I like the outlook for companies with strong balance sheets that are able to pass on higher costs to their customers. And I believe Brambles ticks that box nicely.

The analysts at Perpetual recently noted, "The transport and logistics company has been able to use its considerable pricing power and clout in the market as insulation from inflationary costs, while also being disciplined in recovering costs."

Despite the skyrocketing price of timber adding US$470 million to its pallet costs, Brambles achieved 14% year-on-year profit growth in 2021-22. The Brambles share price has gained 18% over 12 months. The stock pays a 2.7% dividend yield, partly franked.

Motley Fool contributor Bernd Struben does not own shares in Brambles Limited.

The post Top ASX shares to buy in December 2022 appeared first on The Motley Fool Australia.

Shares of the mineral explorer opened for 21.5 cents each on 1 November and closed for 31.5 cents apiece on Tuesday for a 46.5% gain. That includes a gain of 5% on Tuesday alone.

Renascor, which can be classified as an ASX energy share, is also beating the aggregate performance of its peers month to date by a substantial margin.

The S&P/ASX 200 Energy Index (ASX: XEJ) opened at 11,214 on 1 November and edged higher to close at 11,591 this afternoon, recording a 3.4% increase. That's nothing to complain about but also pales in comparison to the Renascor's extreme performance over the same timeframe.

So why has Renascor been on such a hot value climb in November? Let's take a look.

What happened?

Some important developments unfolded for Renascor this month and at the very end of October, which is just before its share price rally kicked off.

Most recently, Renascor managing director David Christensen gave a presentation at the International Mining and Resources Conference held in Sydney at the start of November.

There, Christensen gave an overview of Renascor's plans to produce purified spherical graphite (PSG) from its projects located within South Australia and noted that its sites hold the largest verified reserves of graphite in the world.

Strong demand forecasts for lithium-ion batteries and PSG were also presented, with the major tailwind being the world's transition to electric vehicles.

Renascor delivers a promising quarter

On 31 October, Renascor released its quarterly activities report. Some of the report's highlights included the company securing approval to construct its battery anode material (BAM) manufacturing plant north of Adelaide. The initial production capacity of the site is expected to be 28,000 tonnes per annum of PSG.

Additionally, upgrades were given for its Siviour graphite deposit by Snowden Optiro mining consultants. The experts said the site contained 17% more indicated resources and 14% measured and indicated resources than previously estimated.

And finally, Renascor announced that its annual general meeting would be held on 30 November in Adelaide.

Renascor Resources share price snapshot

The Renascor share price is up 110% year to date. That's a massive gain over the S&P/ASX 200 Index (ASX: XJO), which has lost 3.5% of its value over the same period.

The company's market capitalisation is around $657 million.

The post Why is the Renascor Resources share price rocketing 46% this month? appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are climbing:

CSL Limited (ASX: CSL)

The CSL share price is up almost 3% to $300.48. This morning the team at Citi responded to CSL's full year results by retaining its buy rating with a slightly trimmed price target of $340.00. While the broker believes there are "more questions than answers" with the company's FY 2023 outlook, it has seen enough to retain its bullish view on the biotherapeutics giant.

IPH Ltd (ASX: IPH)

The IPH share price is up 14% to $10.08. This follows the release of the intellectual property services company's full year results. IPH reported revenue growth of 6% to $385.1 million. In addition, the company announced an agreement to acquire Smart & Biggar for almost $400 million. It is a leading Canadian intellectual property firm.

Renascor Resources Ltd (ASX: RNU)

The Renascor share price is up 10% to 22 cents. Investors have been buying this graphite developer's shares after it announced an upgrade to the Siviour mineral resource. This upgrade makes Siviour the second largest reported proven graphite reserve in the world and the largest graphite reserve outside Africa. Management expects it to support a 40-year mine life with production of graphite concentrates up to 150,000 tonne per annum.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 3% to $13.04. This follows the release of a full year result that came in ahead of expectations in FY 2022. The wine giant's net profit after tax before material items and SGARA was up 4.2% to $322.6 million. This compares favourably to the market consensus estimate of $314.4 million. Stronger margins across its divisions helped drive the profit growth.

The post Why CSL, IPH, Renascor, and Treasury Wine shares are pushing higher appeared first on The Motley Fool Australia.