Why the Metal Hawk (ASX:MHK) share price is rocketing 9% today

Prices for so-called green energy metals, like nickel, have been soaring.
The post Why the Metal Hawk (ASX:MHK) share price is rocketing 9% today appeared first on The Motley Fool Australia. –

The Metal Hawk Ltd (ASX: MHK) share price is off to the races, up 9% in afternoon trade, after earlier posting intraday gains of more than 15%.

That’s a noteworthy performance on any day, but especially so on one that’s seeing the All Ordinaries Index (ASX: XAO) sinking 0.4%.

Below, we take a look at the ASX resource explorer’s drilling update that looks to be driving investor interest.

What drilling update was reported?

Metal Hawk’s share price is rocketing after the company reported that it had started diamond drilling at its Berehaven Nickel Project in the West Australian goldfields, located in Western Australia.

Commenting on the progress, Metal Hawk’s managing director Will Belbin said:

Diamond drilling has started exactly one month after the discovery RC [reverse circulation] hole which intersected high grade massive nickel sulphides at Commodore.

Following last weeks’ successful capital raising, we now look forward to progressing this exciting discovery with an aggressive drilling program.

On 28 September, the explorer announced it had confirmed massive nickel sulphides grading 5.9% nickel at the Commodore prospect, within Berehaven. That announcement saw the Metal Hawk share price gain 6% at close, with much larger intraday gains posted.

When news of that prospect was first released to the market on 14 September, Metal Hawk’s shares closed the day up an eye-popping 265%.

On the day, Belbin foreshadowed, “We look forward to ramping up our nickel sulphide exploration at Berehaven and plans for diamond drilling are well underway.”

In today’s release, Metal Hawk said atop the diamond drilling, it plans to restart RC drilling at the Berehaven Nickel Project sometime this week.

Metal Hawk share price snapshot

Currently trading at 63 cents apiece, the Metal Hawk share price has been a standout performer in 2021, up 137% so far this year. By comparison the All Ords is up 9% year-to-date.

Over the past month, Metal Hawk has come under some pressure, with shares down 10%.

The post Why the Metal Hawk (ASX:MHK) share price is rocketing 9% today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Metal Hawk (ASX:MHK) share price rockets 15% on capital raising update
Metal Hawk (ASX:MHK) share price rockets 27% on high grade discovery
Metal Hawk (ASX:MHK) share price jumps following investor update
Metal Hawk (ASX:MHK) share price closes 265% higher on action-packed day
Metal Hawk (ASX:MHK) share price explodes 256% on huge nickel discovery

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!