The stock is up 9.19% to $12.83 in morning trade, continuing a run that has built quickly across April.

Over the past month, the share price has climbed roughly 74%, putting it among the standout movers on the S&P/ASX 300 Index (ASX: XKO).

A fresh update released before market open has brought the stock back into focus.

Development plans move closer to reality

The latest quarterly update centres on the Syerston Scandium Project in New South Wales, which is moving closer to development.

A completed feasibility study outlines a pathway to produce 60 tonnes per annum of scandium oxide. That positions the project as a potential large-scale supplier into a niche but growing market.

The study also points to a relatively modest upfront capital cost of around US$120 million. Operating costs are expected to average US$534 per kilogram across the life of mine.

Scandium demand back in focus

Part of the interest sits with where scandium demand could head next.

According to the company, global demand for scandium oxide could rise to around 300 tonnes per year by 2030. Growth is being driven by solid oxide fuel cells, aerospace applications, and next-generation semiconductors.

There is also a shift in supply dynamics. Export restrictions from China across rare earths materials have tightened availability, bringing more focus to alternative sources.

Sunrise is positioning Syerston as one of those sources, particularly for Western customers looking to diversify supply chains.

Funding support and expansion plans emerge

Another detail getting picked up is early-stage funding support.

Sunrise has secured a letter of interest from the US Export-Import Bank for up to US$67 million in project financing, subject to conditions.

At the same time, the company is already looking beyond the initial plan.

Work is underway on a potential expansion that could lift production by a further 120 tonnes per year. If developed, that would significantly increase output and reduce unit costs.

Construction is being targeted for the middle of 2026, with first production expected in 2028.

Work continues behind the scenes

Outside the main update, early-stage work across the project is progressing.

Drilling programs, engineering design, and infrastructure planning are all underway. The aim is to tighten resource definition and move toward a final investment decision (FID).

The company also reported ongoing discussions with potential offtake partners, which is a key step for projects at this stage.

Beyond Syerston, exploration activity continues across Queensland assets, while a geothermal joint venture in the Millungera Basin is also advancing.

Cash position and market attention

At the end of the March quarter, Sunrise held around $117 million in cash.

That provides a degree of flexibility as development work continues, though further funding will likely be needed as the project moves toward construction.

The company was also recently added to the S&P/ASX All Ords Index (ASX: XAO), which increases its exposure to institutional investors and index funds.

With the share price already on a strong run, the stock is sitting just off its multi-year high of $13.01.

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At the time of writing, shares are down 2.23% to $7.44. Despite today's pullback, the stock remains one of the strongest performers on the ASX, up roughly 2,700% over the past 12 months.

So, what did the company announce, and why are investors taking some money off the table?

New geothermal partnership announced

According to the release, Sunrise has teamed up with US-based I-Pulse and Greenvale Mining to deploy a new drilling method in the Millungera Basin in Queensland.

Under the deal, I-Pulse will run the project and spend an initial US$5 million to earn an 80% stake. Sunrise will keep 15%, while Greenvale will hold the remaining 5%.

The aim is to develop geothermal energy using I-Pulse's drilling technology, which can reach deep underground more efficiently than traditional methods.

Management said early work suggests the Millungera Basin could be one of the most promising geothermal areas in Australia.

Large-scale energy potential highlighted

One of the main takeaways from the update is just how large the potential resource could be.

Data from the Geological Survey of Queensland suggests the basin may hold more than 611,000 petajoules of stored energy. That is roughly equal to around 600 times Australia's annual electricity use.

Results from existing wells also show higher-than-average heat levels, which supports the case for a large geothermal system.

From here, the companies plan to carry out more studies and drilling to better understand the resource. The goal is to develop it into a steady, emissions-free power source.

Why the share price is falling

Despite the size of the opportunity, today's share price drop is not unusual.

After a strong run over the past year, it is common to see some investors take profits. The stock has also eased back in recent weeks, which suggests the upward momentum has slowed.

It is also worth noting that the announcement focuses on long-term potential rather than near-term earnings. Without immediate revenue or cash flow, some investors may be less willing to buy in at current levels.

What to watch next

This update adds to Sunrise's bigger plans, which already include its battery materials projects in New South Wales.

The geothermal deal opens up a new growth opportunity, but it is still early and will take time to develop. More testing, drilling, and funding will likely be needed before it moves further ahead.

In the near term, attention will turn to further updates on exploration work, drilling results, and the project's commercial development.

The post This ASX stock is up 2,700% in a year. Here's what's driving the dip today appeared first on The Motley Fool Australia.

The returns are impressive. But there are some much smaller, little-known ASX shares with 12-month returns that are significantly higher.

And they're earning their investors an outrageous amount of money.

Sunrise Energy Metals Ltd (ASX: SRL)

Sunrise develops and applies ion-exchange technology for the extraction of valuable metals. It does this for the mining industry and for wastewater purification and recycling. 

Its water business segment focuses on water technologies to filter, separate, and purify polluted waters for drinking, agriculture, recreation, and industrial use. Meanwhile, its metals segment provides extraction techniques for a range of resources, including base and precious metals, as well as radioactive elements such as uranium. 

Last month, the company announced that its Syerston scandium deposit is currently the world's largest and highest-grade source of mineable scandium.

At the time of writing, the company's ASX share price is 10.57% higher for the year to date. But it's an outstanding 3,516.67% higher than this time 12 months ago. 

The company has good growth prospects, too. Scandium, which is used in aerospace alloys, fuel cells, and advanced electronics, has a very limited global supply. If Sunrise is able to ramp up production at its Syerston site, it could well become a major global supplier. At present, the company is largely in its development stage.

African Gold Ltd (ASX: A1G)

African Gold is an exploration company focused on acquiring, exploring, and developing high-grade gold assets in West Africa. It focuses specifically on the Côte d'Ivoire and Mali. 

The miner is focused on drilling and growing its resources. It also undertakes technical studies at projects like the Didievi Gold Project.

At the time of writing, the company's shares have jumped 39.39% for the year to date. They're also up an extraordinary 1,433.33% over the past 12 months.

African Gold recently announced it has entered into a binding scheme implementation deed with Canadian-based gold miner, Montage Gold Corp (TSE: MAU). Under the agreement, Montage will acquire 100% of the shares in the ASX gold stock that it does not already hold. In exchange, African Gold shareholders will receive 0.0628 new Montage shares for every African Gold share held on the record date of the share scheme.

The company is firmly focused on growth with plans to expand and ramp up exploration at its existing projects.

Elsight Ltd (ASX: ELS)

Elsight develops and commercialises a secure, AI-powered connectivity platform for unmanned aerial vehicles (UAVs), drones, and robotic systems, called Halo. 

Its technology enables uninterrupted, real-time command and control. It does this by aggregating multiple data links (using 5G, LTE, satellite, RF) for Beyond Visual Line of Sight (BVLOS) operations for defence, public safety, and commercial sectors.

Unsurprisingly, amid a ramp up demand for defence systems amid ongoing geopolitical tensions, the ASX defence stock's value has soared. For the year to date, Elsight shares are already up 69.01%, and they're a huge 1,600% higher than this time last year.

Elsight recently announced that it has appointed 5 senior business development leaders across key global markets. These include new appointments in the United States, Europe, Israel, and Asia. Management said it is designed to expand the company's go-to-market execution as demand for connectivity solutions in defence and unmanned systems programs grows.

The post 3 lesser-known ASX shares making investors an outrageous amount of money 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 rising:

Appen Ltd (ASX: APX)

The Appen share price is up 27% to $1.38. Investors have been buying the artificial intelligence data services company's shares following the release of a strong quarterly update. Appen reported revenue of $73.4 million. This was a 10% lift on the prior corresponding period and a 33% increase on the third quarter of FY 2025. Appen's CEO, Ryan Kolln, said: "Q4 was a strong finish to the year for both our China and Global businesses. Appen China exited the quarter with an annualised revenue run-rate growing to over $135 million – a pleasing result, providing strong momentum heading into FY26."

Imricor Medical Systems Inc (ASX: IMR)

The Imricor Medical Systems share price is up 11% to $2.11. The catalyst for this has been news that the medical device company has received US FDA approval for its NorthStar Mapping System. NorthStar is the first and only MRI-native 3D mapping and guidance system to receive FDA clearance. Imricor's chair and CEO, Steve Wedan, said: "At Imricor, we have been building a comprehensive suite of uniquely MRI-compatible devices for two decades. These devices, which include both consumable products and capital equipment, enable doctors to harness the superior soft tissue imaging of MRI to precisely guide minimally invasive procedures in a 100% radiation-free setting."

Sunrise Energy Metals Ltd (ASX: SRL)

The Sunrise Energy Metals share price is up 2.5% to $10.36. This follows the release of the company's quarterly update this morning. Management took this opportunity to remind investors about the progress it is making. It highlights that its Syerston scandium deposit is currently the world's largest and highest-grade source of mineable scandium on a granted mining lease adjacent to excellent infrastructure.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 2.5% to $9.42. This morning, this coal miner released its quarterly update and revealed a 21% quarter on quarter increase in managed ROM production to 11Mt. Also increasing strongly were its equity sales, which rose 18% to 7Mt. Management also advised that it is on track to deliver $60 million to $80 million of annualised cost savings by 30 June 2026.

The post Why Appen, Imricor, Sunrise Metals, and Whitehaven Coal shares are charging higher today appeared first on The Motley Fool Australia.

But despite its low profile, it is abundant in the Earth's crust.

The challenge lies not in its presence but in finding deposits large and rich enough to be mined economically.

In essence, primary scandium mines are virtually non-existent.

Most of the world's production is generated in small volumes as a by-product of other metals like nickel or uranium, or through the reprocessing of waste.

That said, Australia stands out with one of the highest concentrations of scandium globally.

In particular, New South Wales is believed to be the only location where scandium could potentially be mined as a primary commodity.

At the forefront of this opportunity is a little-known ASX mining stock aiming to transform from an aspiring explorer into a major producer of this strategic metal.

That company is Sunrise Energy Metals Ltd (ASX: SRL), and its shares have been booming.

Tell me more

Scandium is classified as a rare earth element.

It is one of the most effective minerals in strengthening aluminium, whilst also offering improved flexibility and resistance to heat and corrosion. 

Such traits make scandium desirable in high-performance aluminium alloys that need to be light, strong, and heat-resistant.

As a result, it is used across various industries, including aerospace, automotive manufacturing, heat exchangers, sporting goods, 3D printing, and energy transmission.

Scandium oxide also plays a key role in improving the performance of solid oxide fuel cells, used as clean energy sources for buildings, medical facilities, and data centres.

According to Sunrise Energy, more than 90% of the world's scandium demand comes from civilian and defence applications in the US.

However, China currently dominates supply, accounting for over 80% of production and effectively all the world's refining capacity.

And earlier this year, Beijing introduced export controls on scandium and other rare earth elements, fundamentally reshaping the global market.

These measures heightened supply concerns across the US and other Western nations, turning attention towards alternate supply chains.

Strategic project

Sunrise Energy believes its Syerston project in New South Wales hosts one of the world's largest and highest-grade scandium resources.

If developed, the project could become a new source of low-cost, scalable, and reliable scandium for Western markets.

The group plans to build a stand-alone mine and processing plant at Syerston, capable of supplying scandium for 5G and 6G semiconductor chips, fuel cells, and both civilian and military aluminium alloys.

So far, a 32-year mine life has been estimated for the project.

An updated feasibility study gauging the development potential is expected early next year.

Sunrise Energy has already secured several key permits and approvals for developing the project.

The ASX mining stock aims to start construction of the mine by mid-2026.

Share price momentum for this unique ASX mining stock

Investor enthusiasm around the potential development of Syerston appears to be reflected in the spectacular performance of Sunrise Energy shares.

At the start of 2025, shares in this ASX mining stock were changing hands at $0.23 apiece.

By Monday's close, its shares had surged to $7.41 apiece.

This represents a 3,122% gain for shareholders in this ASX mining stock since the start of the year.

For context, the S&P/ASX All Ordinaries Index (ASX: XAO) has risen by about 6.7% across the same timeframe.

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

Bapcor Ltd (ASX: BAP)

The Bapcor share price is down 4% to $2.50. Investors have been selling this auto parts retailer's shares this week following the release of a trading update. Bapcor announced that it expects its first half underlying profit to be in the range of $14 million to $18 million. This is down sharply from $45.5 million in the prior corresponding period. And while a stronger second half is expected, with management guiding to full year statutory profit in the range of $40 million to $50 million, investors appear cautious. In response to its update, this morning Morgans retained its hold rating with a heavily reduced price target of $2.75 (from $3.90).

Cleanaway Waste Management Ltd (ASX: CWY)

The Cleanaway Waste Management share price is down over 4% to $2.66. This follows the release of a trading update ahead of the waste management company's annual general meeting. Management advised that the first quarter was tough due to subdued trading conditions. And while it has reaffirmed its FY 2026 underlying EBIT guidance of $470 million to $500 million, it warned that its earnings will be weighted more heavily to the second half than normal. Cleanaway's CEO, Mark Schubert, said: "While trading conditions in the September quarter were subdued, we know what needs to be done and are confident in our ability to deliver our FY26 earnings guidance."

Sunrise Energy Metals Ltd (ASX: SRL)

The Sunrise Energy Metals share price is down 7% to $5.50. Investors have been selling this scandium developer's shares following the release of a mineral resource update for the Syerston Scandium Project. Management revealed that its ore reserve estimate has increased by 87% and underpins a 30+ year asset life. While this appears positive, it seems that investors were expecting an even stronger update.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down 6% to $4.34. This may have been driven by profit taking from investors after strong gains were recorded year to date. For example, even after today's pull back, the buy now pay later provider's shares are still up 47% since the start of the year. Though, it is worth noting that analysts at UBS believe Zip's shares can keep rising. This morning, the broker retained its buy rating on its shares with an improved price target of $5.40.

The post Why Bapcor, Cleanaway, Sunrise, and Zip shares are falling 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:

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price is down 1.5% to 36 cents. This is despite there being no news out of the copper miner. However, its shares have been on fire recently, which could mean that some investors are taking a bit of profit off the table on Friday. For example, since this time last month, Aeris Resources shares are up over 75%.

Cochlear Ltd (ASX: COH)

The Cochlear share price is down 1% to $291.92. This may have been driven by the release of a broker note out of Citi this morning. According to the note, the broker has downgraded the hearing solutions company's shares to a neutral rating with a trimmed price target of $320.00. This follows the transfer of coverage to a new analyst and the broker's preference for pharmaceuticals over services and providers. It is worth noting that Citi's price target still implies potential upside of almost 10% for investors over the next 12 months.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down a further 2.5% to $9.83. Investors have been selling this fund manager's shares this week following the release of a broker note out of Macquarie Group Ltd (ASX: MQG). Its analysts have downgraded Magellan's shares to an underperform rating with an $8.65 price target. They said: "We see downside risks to cons, with our FY26E EPS 7% below due to lower associate profits, higher sub-advisory fees and lower distribution income. We also see risks to accelerated net outflows due to the Infrastructure PM's departure, fund rating reviews and poor relative fund performance."

Sunrise Energy Metals Ltd (ASX: SRL)

The Sunrise Energy Metals share price is down 6.5% to $3.76. This may have been driven by profit taking from investors after the scandium developer's shares rocketed higher this week. This has been driven by news that it has received a letter of interest from the Export-Import Bank of the United States (EXIM) which outlines the potential to provide up to US$67 million in debt financing for the Syerston Scandium Project in central New South Wales. Management notes that based on its current estimates in the Feasibility Study, this represents approximately half the development capital for the project. Sunrise Energy Metals' shares remain up over 15% since this time last week and over 130% in a month.

The post Why Aeris Resources, Cochlear, Magellan, and Sunrise Energy Metals shares are fallin 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 rising:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 2% to $3.20. Investors have been buying this counter drone technology company's shares following the release of a sales update. DroneShield revealed that it has surpassed 4,000 systems sold worldwide with the receipt of a package of two standalone contracts totalling $7.9 million for handheld systems for delivery to the U.S. Department of Defense. The company expects to deliver all equipment in the fourth quarter of 2025. DroneShield's US CEO, Matt McCrann, commented: "Passing 4,000 systems in service is an important milestone for our team and our customers. It underlines the performance and dependability of our solutions in the field, and the trust placed in DroneShield by those who rely on them."

EBR Systems Inc (ASX: EBR)

The EBR Systems share price is up 11% to $1.30. This morning, this medical device company revealed that it has passed the tenth commercial implant of its WiSE System in the United States. This technology has been developed to eliminate the need for cardiac pacing leads, which are historically the major source of complications, effectiveness, and reliability issues in cardiac rhythm disease management. The company's president and CEO, John McCutcheon, said: 'Passing the ten-case milestone so soon after FDA approval reflects strong clinical interest in leadless left-ventricular endocardial pacing and underscores the value EBR's novel WiSE System brings for patients who are not well served by conventional CRT."

Silex Systems Ltd (ASX: SLX)

The Silex Systems share price is up 15% to $4.87. This follows the release of an update from the uranium technology company. It advised that Global Laser Enrichment (GLE), the exclusive licensee of the SILEX uranium enrichment technology, has completed the large-scale enrichment demonstration testing campaign at its Test Loop facility in North Carolina. The good news is that GLE has collected extensive performance data providing confidence that its laser-based uranium enrichment process will achieve TRL-6 demonstration status and can be commercially deployed.

Sunrise Energy Metals Ltd (ASX: SRL)

The Sunrise Energy Metals share price is up a further 15% to $5.02. This scandium developer's shares have been rocketing this week following a big announcement. Sunrise Energy Metals advised that it has received a letter of interest from the Export-Import Bank of the United States (EXIM) which outlines the potential to provide up to US$67 million in debt financing for the Syerston Scandium Project in central New South Wales. Management notes that based on its current estimates in the Feasibility Study, this represents approximately half the development capital for the project.

The post Why DroneShield, EBR, Silex, and Sunrise Energy Metals shares are storming higher 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:

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up 6% to $1.96. Investors have been buying Boss Energy and other ASX uranium stocks today following positive industry news. Overnight, US Energy Secretary Chris Wright revealed that his government hopes to see "rapid growth" in consumption of the nuclear fuel, and that the US needed to move away from reliance on Russian-enriched uranium. Combined with the International Atomic Energy Agency (IAEA) upgrading its global nuclear operational capacity estimates, this has put a rocket under uranium miners.

IGO Ltd (ASX: IGO)

The IGO share price is up 2% to $4.72. This may have been driven by a broker note out of Citi this morning. According to the note, the broker has taken its sell rating off the lithium miner's shares and upgraded them to a neutral rating with a trimmed price target of $4.40. It made the move on valuation grounds following a sharp pullback in its share price in recent weeks.

New Hope Corporation Ltd (ASX: NHC)

The New Hope share price is up 7% to $4.68. This follows the release of the coal miner's FY 2025 results this morning. New Hope reported an 18.1% increase in group saleable coal production of 10.7Mt. However, due to weaker prices and despite cut reductions, the company's EBITDA fell approximately 11% to $765.8 million. This led to the company's board cutting its final dividend by 32% to 15 cents per share. However, this still brought its full year dividend to 34 cents per share, which is the equivalent of a 7%+ dividend yield and ahead of consensus estimates.

Sunrise Energy Metals Ltd (ASX: SRL)

The Sunrise Energy Metals share price is up 30% to $4.36. Investors have been buying this scandium developer's shares after it released a big announcement. Sunrise Energy Metals revealed that it has received a letter of interest from the Export-Import Bank of the United States (EXIM) outlining the potential to provide up to US$67 million in debt financing for the Syerston Scandium Project in central New South Wales. Based on its current estimates in the Feasibility Study, this represents approximately half the development capital for the project.

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The company told the ASX on Tuesday that the Export-Import Bank of the United States (EXIM) had given the company a letter of interest for up to US$67 million in financing support for the Syerston Scandium Project, which would cover about half the estimated development cost.

The company said the Syerston project contained the world's largest and highest-grade scandium deposit.

The Syerston Scandium Project … has been identified as a candidate for financing for its potential to support development of reliable and secure supply chains for US industry under several EXIM programs, including its Supply Chain Resiliency Initiative and the China Transformational Exports Program. Project debt provided by EXIM is eligible for an attractive repayment term of up to 15 years.

Sunrise Energy Metals said further due diligence would be done by EXIM should the company progress with a formal application for funding.

Company co-chair Robert Friedland said the commitment highlighted the critical nature of scandium supplies.

This Letter of Interest underscores the importance of scandium to the United States, both as a critical component in wireless communications technologies, and advanced alloys supporting the civilian and defence sectors. As a key ally of the United States, Australia's significant endowment of strategic metals positions it to be an important supplier in the future.

The company said on Tuesday that while its feasibility study was progressing well, a substantial increase in contained metal revealed in an update on September 9 meant that more work needed to be done for conversion to an ore reserve estimate and an optimised mine plan.

Sunrise Energy Metals shares were 31.9% higher at $4.42 on Tuesday.

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At the time of writing, the company's shares are up 10% to $1.32. It's worth noting that at one point, the share price reached an all-time high of $1.45 during the morning.

Quick take on Clean TeQ Water

Newly listed on the ASX, Clean TeQ Water is a metals recovery and water treatment solutions company. Its technology includes desalination, nutrient removal, zero liquid discharge and hardness removal.

Earlier this month, Clean TeQ Water separated from Sunrise Energy Metals Ltd (ASX: SRL), formerly named Clean TeQ Holdings. The spin-off is to allow Sunrise Energy Metals to focus on its nickel-cobalt-scandium project in New South Wales.

As a result, shareholders in Sunrise Energy metals received one Clean TeQ Water share for every two shares held.

Completion of share sale facility

Investors are pushing Clean TeQ shares into new territory after the company revealed its latest announcement.

Clean TeQ Water advised that the sale of its shares through the demerger share sale facility has been completed.

According to the Demerger Booklet released 17 May, a share sale facility was established to allow eligible shareholders to sell their Clean TeQ Water shares. This included shareholders who had less than 5,000 Sunrise Energy Metals shares and those who were not eligible to receive Clean TeQ Water shares.

The share sale facility provided shareholders with the opportunity to transact without incurring any brokerage or other costs.

In total, 63,235 Clean TeQ Water shares were sold on market through the share sale facility. The average price for these shares was approximately 93.4 cents per share.

The gross proceeds of the share sale facility will be distributed amongst eligible shareholders at a later date.

About the Clean TeQ Water share price

Since debuting on the ASX boards on 2 July, Clean TeQ Water shares have continued their upward trend. The company's share price hit an all-time high of $1.45 during the first 30 minutes of market open today.

Clean TeQ Water presides a market capitalisation of roughly $59 million, with more than 44.6 million shares outstanding.

The post Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today appeared first on The Motley Fool Australia.

Today's price leap comes as the company announced a "bonanza grade platinum intersection" from one of its sites.

Let's take a closer look at today's news and what it means for the Sunrise share price.

Why the Sunrise share price is rising

In a statement to the ASX, Sunrise Energy Metals (formerly Clean TeQ Holdings) says it has found "significant" results from its platinum development at the Sunrise Project in New South Wales.

The best result, according to the company, was a 0.6m wide ore containing 129g per tonne of platinum, 1.23g per tonne of palladium, 1.79g per tonne of rhodium, 4.0g per tonne of iridium, 0.89g per tonne of osmium, and 0.28g per tonne of ruthenium.

Sunrise says its drilling results show the potential for even greater finds in the Phoenix Platinum Zone, which is within the Project.

Collectively, the metals found in this ore sample are known as platinum group elements (PGE). The large find by the company is pleasing investors, judging by the performance of the Sunrise share price this morning.

Sunrise Energy Metals Co-Chair, Robert Friedland, said:

We have long suspected that the Sunrise laterite may be the weathered surface expression of an Alaskan-style dunitic system that lies beneath – in the late 19th century this area was the world's largest source of platinum and remains the site of the only primary platinum mine in Australia.

He added:

Although it's still early days for this new and exciting development, this stunningly high-grade platinum intercept is highly encouraging in terms of the potential for what may lie below this amazing Sunrise ore body. We will be following up this initial success with great enthusiasm.

PGE commodity trading

PGE metals have been increasing in price on the commodities market since the beginning of the year.

Platinum is 12.77% greater (US $1,202.43 per troy ounce), palladium is up 20.29% (US $2,945.90 per troy ounce), and rhodium is an incredible 73.53% higher since the start of 2021 (US $29,500 per troy ounce).

According to the website Trading Economics, PGE metals are expected to continue their upward climb for the foreseeable future, as government and industry invests in greener technologies. PGE metals are used as catalysts to lower the emissions from combustible car engines.

Other metals experience similar upswings due to the green revolution are lithium and copper.

Sunrise share price snapshot

Over the past 12 months, the Sunrise share price has increased 14%. It is, however, 38% lower compared to its 52-week high of $3.85. This record was achieved in September 2020.

Given its current valuation, Sunrise Energy Metals has a market capitalisation of $196 million.

The post Why the Sunrise (ASX:SRL) share price jumped 13% this morning appeared first on The Motley Fool Australia.

Several sources, including the ASX itself, are today telling investors that the Clean TeQ Holdings Limited (ASX: CLQ) share price is up an incredible 927%. It's not often we see an ASX share price move triple digits in one day, let alone by close to 1,000%

So did Clean TeQ really make its investors 927% richer today? The answer is not as simple as it seems…

So yes, on the surface, it looks as though Clean TeQ shares are up 927%. That's because when we last saw the Clean TeQ share price on Friday, it was sitting at 26 cents a share. But this morning, it had seemingly had one of the greatest weekends of all time when it opened at $2.65 a share.

At the time of writing, Clean TeQ shares are trading at $2.67.

A 'reverse split' for Clean TeQ

If you are a shareholder in Clean TeQ, I hope I've caught you before you've found a way to the nearest Lamborghini dealer because I'm afraid you're not suddenly rich.

The 'rise' in the Clean TeQ share price has nothing to do with the company getting any bigger. It's actually a result of Clean TeQ executing what's known as a share consolidation, which is sometimes called a 'reverse split'.

Put simply, the company has reduced its share count by a factor of 10, making each share 10 times more valuable. That explains why Clean TeQ has seemingly 10Xed over the weekend. But for every 10 CLQ shares a shareholder might have owned on Friday, they now own 1.

It's the opposite process to what companies like Pushpay Holding Ltd (ASX: PPH), Apple Inc (NASDAQ: AAPL) and Tesla Inc (NASDAQ: TSLA) have done in recent months. Unfortunately for shareholders, it does not mean any real change in either the company's market capitalisation, valuation, or any individual shareholders' wealth.

Clean TeQ did tell us this was happening last Wednesday. It's part of the company's plan to rename itself Sunrise Energy Metals Limited (SRL) come 9 April 2021.

The post Is the Clean TeQ (ASX:CLQ) share price really up 927% today? appeared first on The Motley Fool Australia.

Shares in the technology-oriented ASX pollution control company are trading at 27 cents per share at the time of writing.

Let's take a closer look at what's happening with the Clean TeQ share price today.

What new contract award did Clean TeQ announce?

In today's release, the company announced a new contract to design and install a Clean TeQ BIONEX water treatment plant in a Chinese coal mine. The contract has been awarded to Clean TeQ's 100% owned Beijing-based subsidiary.

Clean TeQ said the water treatment facility, to be built at the mine site in Inner Mongolia, can treat and remove "nitrate from 12,000 m3 /day of coal mine in pit groundwater to below 1 ppm". This level is in line with local regulations for mine water disposal.

Worth approximately $2 million, the contract was awarded by a subsidiary of Beijing Enterprises Water Group (HKG: 0371), which has a market cap of more than $5.2 billion.

Clean TeQ reports that the company, among the largest water treatment companies in Asia, has "expressed an interest in ongoing cooperation once this first BIONEX plant is successfully commissioned".

Words from the management

Commenting on the new contract, Clean TeQ managing director Sam Riggall said:

We have persisted for a long time to make inroads into the very large Chinese water treatment market.

As we move towards the proposed demerger of our water business later this year, it is pleasing to see that we have achieved some initial success in that important market as we continue to make good progress on our goal of growing revenues.

Today's announcement follows yesterday's ASX release, in which Clean TeQ reported a new contract award for a water treatment plant upgrade in Oman. That contract is valued at more than $1 million.

Clean TeQ share price snapshot

The past 12 months have been good to Clean TeQ shareholders, with shares up 108%. Over that same time, the All Ordinaries Index (ASX: XAO) is up 39%.

Year-to-date, the Clean TeQ share price is up 4%.

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The Clean TeQ share price has been on an astounding run over the last year, gaining 107.69%. In doing so, the company has outpaced the All Ordinaries Index (ASX: XAO) return of 37.5% in the same period.

What happened

The Clean Teq share price lifted this morning after the company advised that it had been awarded a new contract for a water treatment plant upgrade in Oman.

The company will upgrade the existing 'DESALX' technology plant that is used for the purification of water.

Clean TeQ said by treating the waste, the plant operator would be able to recycle a significant proportion of water for re-use in the processing plant rather than disposing of it.

So what

As announced in early January, the company was awarded a contract to undertake the design to upgrade the water treatment plant in Oman. However, changes in salt and arsenic loads have resulted in the need for further upgrades.

The upgrade will focus on neutralising the waste components mentioned above and precipitating contaminants for easier recovery. This will enable the plant to decrease its water usage and generate lower brine levels for disposal.

With the initial contract near its completion, the company has now been awarded a further agreement in excess of $1 million to upgrade the project again. It is proposed that Clean TeQ also supply construction oversight and commissioning support, but this has not been included in the current scope and costing.

Management comments

Commenting on the contract, Clean TeQ managing director Sam Riggall said:

We have demonstrated our capability in designing, constructing and commissioning our highly effective proprietary water purification systems in a range of different applications.

As we move towards the proposed demerger of our water business later this year, it is pleasing to see that we are making good progress on our goal of growing revenues.

At the current Clean TeQ share price, the company has a market capitalisation of $230.3 million.

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The Clean TeQ share price finished today's trading session 8.20% lower at 28 cents a share.

Here's what we learned from the company's 1H21 results.

Clean TeQ posts multi-million dollar loss

Clean TeQ reported a loss of $10.1 million for 1H21. This compares to the $10.3 million loss of 1HY20.

Revenue from continuing operations increased to $1.6 million versus the 31 December 2019 revenue of $666,000.

The 1HY21 loss per share was $1.33, a slight improvement compared to the 1HY20 loss per share of $1.35.

Net assets jumped during the period from $42 million as of 30 June 2020 to $48.7 million as of 31 December 2020.

Clean TeQ's total equity at the end of 1HY21 was $48.7 million compared to $42.1 million in 1HY20.

Clean TeQ principal 1HY21 activities

For the 1HY21 period, Clean TeQ advised that its principal consulting activities focused on two major areas.

First, the company noted its ongoing development of Clean-iX. Clean-iX resin technology can be used to extract and purify a range of mining industry resources including base metals, precious metals and rare earth elements. Clean TeQ is also developing its Sunrise Project and other mineral exploration properties in New South Wales as part of this feat.

Secondly, Clean TeQ advised that it continues to develop and commercialise its Continuous Ionic Filtration ('CIF') resin technologies. The CIF technology supports the purification and recycling of industrial, municipal and mining waste waters.

Clean TeQ share price snapshot

Clean TeQ specialises in metals recovery and industrial water treatment. The business endeavours to become a leading supplier of clean energy solutions.

Over the past 6-month period, the Clean TeQ share price has gained 100%. 

The company's current market capitalisation is $283.5 million and there are presently 885.9 million shares outstanding based on the current share price.

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Shares in the green materials company are trading at 30 cents at the time of writing, the same price level it was stting on at market open this morning.

Clean Teq is a Victorian company that aims to "empower the clean revolution" by providing specialty materials and clean solutions to a range of industries.

What is driving the Clean Teq share price

In today's release, the company advised it continues to advance the development of its Sunrise battery materials complex in New South Wales. The company sees Sunrise as a potential beneficiary to the growing tailwinds surrounding electric vehicles.

Clean Teq has a range of works under way at the Sunrise plant to minimise the project restart time when funding is secured. To this tune, the company says the COVID-19 pandemic has presented difficult conditions for obtaining funding for the project.

However, engagement with the automotive and battery sectors for Sunrise remains ongoing. In particular, in the last quarter of 2020, Clean Teq saw "significant interest" from the automotive sector for its supply of both cobalt and nickel.

Also, during the quarter, the company completed the first three drill holes at its Phoenix Platinum zone in NSW. Despite the low grade of resource in the area, the mine remains "one of the largest platinum deposits in Australia". Platinum has many uses in modern society including in jewellery, electrics and medical/laboratory instruments.

In addition, the company's two new water treatment contracts in Australia and Oman also helped drive the Clean Teq share price this month.

Renewable energy push

Earlier this month, Clean Teq announced the completion of a study that confirmed the availability and cost of renewable energy to supply 100% of its external power for its Sunrise project. As such the proposal would completely eliminate one third of its total carbon emissions.

The study was undertaken in 2020 in partnership with AGL Energy Limited (ASX:AGL) to identify an alternative energy supply.

About the Clean Teq share price

With the company's recent capital raising, Clean Teq currently has a cash balance of $44 million.

Looking ahead, the company is considering a demerger of its water division to focus more on battery materials. It has started a formal review of a potential demerger which will provide a recommendation to shareholders in due course. The review will consider taxation, structuring and other regulatory implications.

Despite the challenging conditions of last year, the Clean Teq share price is currently trading 15.38% higher over the last 12 months. And it's outperforming the All Ordinaries Index (ASX: XAO) by 15%.

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Although well down from its 8 September 2020 highs of 38 cents per share, at today's 26 cents, the Clean TeQ share price remains up 18.2% year-to-date.

By comparison, the All Ordinaries Index (ASX: XAO) is up 1.3% so far in 2020.

What does Clean TeQ do?

Based in Melbourne, Clean TeQ Holdings provides services in metals recovery and industrial water treatment. The company applies its proprietary continuous ion exchange technology via its wholly owned subsidiary, Clean TeQ Water.

Clean TeQ also owns 100% of the Clean TeQ Sunrise Project in New South Wales. The company counts this amongst the largest cobalt deposits outside of Africa. It also has some of the largest and highest-grade accumulations of scandium on the planet.

Why did the Clean TeQ share price plummet today?

Co-chair Robert Friedland and CEO Sam Riggall told the ASX today that a private placement at 25 cents per share had been subscribed for institutional and sophisticated investors out of Australia, Asia, Israel and North America.

The share placement, which will raise $19 million in capital, comes at a 13.8% discount to Clean TeQ's 29 cent share price at market close on Friday. Clean TeQ was in a trading halt this week on Monday and Tuesday and expects settlement to occur this Friday, 27 November.

Management also announced that eligible shareholders would be able to apply for up to $30,000 worth of shares at the 25-cent placement price. Clean TeQ's roughly 7,000 shareholders will be able to do so without paying any brokerage or other transaction costs.

Among other allocations, the new capital will be used to fund ongoing development and growth of the company's water purification business.

The capital will also fund additional mineral exploration at the company's tenements. These include the Phoenix Platinum Zone beneath the Sunrise laterite and the Minore Project in New South Wales. Clean TeQ is progressing a six-hole diamond core drill program targeting platinum group metals.

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Today's gains see Clean TeQ's share price up 20% so far in the month of October. Despite falling 60% during the COVID-19 market rout earlier this year, the Clean TeQ share price is up 52% year-to-date, reflecting a 205% gain since 24 March.

For comparison, the All Ordinaries Index (ASX: XAO) is down 6% so far in 2020.

What does Clean TeQ Holdings do?

Melbourne-based Clean TeQ Holdings is a global leader in metals recovery and industrial water treatment through the application of its proprietary continuous ion exchange technology. This is via its wholly owned subsidiary Clean TeQ Water.

The company is also the 100% owner of the Clean TeQ Sunrise Project in New South Wales. According to Clean TeQ, this counts among the largest cobalt deposits outside of Africa, and has some of the largest and highest-grade accumulations of scandium on the planet.

Clean TeQ has a market cap of $250 million.

What did the Clean TeQ share price gain 10%?

This morning, Clean TeQ announced that it had mobilised a drill rig at its Sunrise Project site to start a 6-hole diamond core drill program.

Clean TeQ is hopeful the drilling – reaching 400 to 600 metres below ground – will intersect dunite structures that are proposed to be the source of platinum in the Sunrise laterite at the surface.

According to the company, the Sunrise laterite hosts a significant platinum resource of 103.1 Mt @ 0.33 g/t Pt for 1,076,170 ounces of platinum, using a 0.15 g/t Pt cut-off grade. Around 90% falls in the measured and indicated categories.

This places it amongst the largest platinum resources in Australia. The company notes that the average grade is relatively low. However areas of significantly higher-grade platinum mineralisation exist inside the resource envelope.

Clean TeQ stated:

Given the high platinum grades near surface and historic intercepts beneath the laterite, a program of work has commenced to test the structural geology of the Tout Intrusive Complex and to establish a platinum resource that will either integrate with the development of the Sunrise nickel-cobalt-scandium mine, or be developed as a stand-alone operation.

Clean TeQ shareholders are no strangers to volatility. Depending on the results of the diamond core drilling program, the Clean TeQ share price could move sharply in either direction.

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What was in the report?

Highlights during the September quarter included discussions with potential funding partners to develop Clean TeQ's Sunrise asset, which the company described as "one of the world's lowest cost sources of sustainable nickel and cobalt".

Clean TeQ also discussed its collaboration with Relativity Space Inc. to provide scandium oxide from the Sunrise project. The scandium will be used to develop scandium-aluminium alloys for the 3D printing of launchers for commercial orbital launch services. 

During the quarter, the company also announced that a high grade platinum resource had been identified within the Sunrise project named the Phoenix platinum zone.

Clean TeQ said Sunrise hosted 103.1 million tonnes at 0.33 grams per tonne of platinum for 1,076,170 total ounces of platinum with 90% of this resource in the measured and indicated categories. Within the Phoenix platinum zone, significant historic downhole intersections included 4m at 7.4 grams per tonne platinum, 0.13% nickel and 0.01% copper in addition to 1 metre at 6.5 grams per tonne platinum, 0.15% nickel and 0.01% copper and 1 metre at 4.2 grams per tonne platinum, 0.15% nickel and 0.01% copper. A 6 drill hole diamond core drilling program is planned for the current half of the 2020 calendar year.

Clean TeQ is continuing with its plan to separate its water division from the remainder of the business, including the Sunrise Project and its other mineral exploration activities. It is also considering delisting from the Toronto Stock Exchange, with a cost benefit analysis being undertaken. 

CleanTeQ had cash of $34.02 million at 30 September 2020, down from $40.08 million at the end of the previous quarter. The company's biggest cost during the quarter was exploration, costing $3.18 million.

About the Clean TeQ share price

Clean TeQ is a minerals development company that also holds patented technology which can be used for water purification and resource extraction. It has been listed on the ASX since 2007.

Earlier this month, Clean TeQ advised it was consolidating its securities, with security holders receiving 1 share for every 10 held.

The Clean TeQ share price is up 210% from its 52-week low of 10 cents. It has risen 40.91% since the beginning of the year. The CleanTeQ share price is up 14.81% since this time last year.

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