The S&P/ASX 200 Index (ASX: XJO) is on course to start the new year with a strong gain. In afternoon trade, the benchmark index is up 1.65% to 7,567.7 points.

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

Elixir Energy Ltd (ASX: EXR)

The Elixir Energy share price is down 12% to 18 cents following the completion of its drilling program in Mongolia. Investors may be disappointed with the result of the Bag-1S exploration well. The release reveals that drilling reached a total depth of 779 metres but did not intersect coal.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is down 2.5% to $8.58 despite there being no news out of the ecommerce company. However, Kogan remains one of the most shorted shares on the Australian share market. It appears as though short sellers don't believe the company will bounce back from its terrible performance in 2021 in a hurry.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 3.5% to $1.41. This follows weakness in the gold price overnight after investors rotated back into equities amid improving risk sentiment. It isn't just St Barbara's shares that are falling today. The S&P/ASX All Ordinaries Gold index is down 0.25% at the time of writing.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down 2% to $4.24. This is despite there being no news out of the buy now pay later provider. However, it is worth noting that overnight on Wall Street's Nasdaq index, the Affirm share price tumbled a disappointing 5%. It looks as though investors are continuing to be wary about the buy now pay later sector amid potential regulatory scrutiny in the United States.

The post Why Elixir Energy, Kogan, St Barbara, and Zip shares are dropping appeared first on The Motley Fool Australia.

The Elixir Energy Ltd (ASX: EXR) share price has been struggling recently. While shares in the exploration and development company are still leaps and bounds above their value at the start of the year, the wheels have fallen off in the last fortnight.

Unfortunately for shareholders, the Elixir Energy share price has shaved off 15.62% in the last 2 weeks of trade. As a result, the current price is pinned at 27 cents per share, at the time of writing.

What's weighing on the Elixir Energy share price?

Prior to the descending share price, Elixir was enjoying a run of positive sentiment from the market. The last announcement to hit the market before the beginning of the sell-off related to its hydrogen project in Mongolia.

According to the update, the project was progressing as Elixir entered into a memorandum of understanding with Mongolia's Ministry of Energy to investigate the hydrogen project's potential future. Since then, the company has released 2 more price-sensitive announcements, which have been met with selling pressure.

On 27 October, Elixir Energy updated the market with data from its assessment of the Nomgon 6 well in Mongolia. The testing indicated the presence of methane. Among other results, this data will be fed into construction of Elixir's first long-term pilot production program.

From there, Elixir Energy released its annual general meeting presentation the following day. Other than outlining the company's achievements to date, the presentation highlighted a forward trajectory. Namely, the oil and gas explorer is expecting its 2022 to involve drilling, pilot programs, infilling seismic grid, developing plans, and hydrogen.

Quarterly numbers

Finally, the last announcement released was Elixir's quarterly report for the period ending 30 September 2021. In the report, the explorer highlights the ongoing energy shortage as a positive sign for the company's prospects. However, investors might have taken notice of the cash burn.

Due to its operations still being in the exploratory stage, Elixir Energy reported zero revenue for the period. As a result, the company's net cash from operating activities was an outflow of $331,000 during the quarter. Although, Elixir still holds $30.9 million in cash and cash equivalents.

While the Elixir share price has weakened recently, it is still up 116% year to date.

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The Elixir Energy Ltd (ASX: EXR) share price is surging forward during early afternoon trade on Thursday. This comes after the energy producer released an update in regards to its hydrogen strategy.

At the time of writing, Elixir Energy shares are up 5.36% to 29.5 cents apiece.

What did Elixir Energy announce?

In a statement to the ASX, Elixir advised progress is being made on its recently announced hydrogen project in Mongolia.

Elixir executed a memorandum of understanding (MOU) with Mongolia's Ministry of Energy to investigate the opportunity for a hydrogen project.

Under the framework, the Ministry will be responsible for maintaining security, stability, and efficiency in the energy sector. In addition, the department will seek to develop the new source of energy.

Elixir will work with the Mongolian government to bring forward expertise in the hydrogen economy in technical, legal, and commercial areas.

The news follows the company's commissioned independent report earlier this month from energy analyst, K1 Capital. The report evaluated the wind and solar resource potential of Mongolia's South Gobi region in regards to the production of green hydrogen.

It estimated a combined wind and solar utilisation of 79% for Elixir's project location. In comparison, the Southern Goldfields is generally between 50% and 60%, with the Pilbara region in Western Australia about 45%.

This means that a location with a capacity factor of 79% will produce around 60% more hydrogen from the same capital investment than an area with a 50% capacity factor.

A number of contributors underpin the high-capacity factor in the South Gobi region. They include very high wind speeds along with a cold climate supporting enhanced solar efficiencies.

Management commentary

Managing director Neil Young spoke about the news possibly fuelling the Elixir Energy share price today:

We are very pleased to be working with the Mongolian Government to investigate the potentially world class green hydrogen potential of the country.

The K1 Capital report supports our thesis that the South Gobi region of Mongolia has such potential – not only given its location immediately proximate to markets, but also its superb renewable resources. The wind and solar combination in our project area are as good as we have seen anywhere.

About the Elixir Energy share price

Over the past 12 months, Elixir Energy shares have registered gains of almost 130%. In contrast, the All Ordinaries Index (ASX: XAO) has travelled around 20% higher in the same time frame.

Elixir has a market capitalisation of roughly $267.3 million, with approximately 891 million shares on hand.

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The Elixir Energy Ltd (ASX: EXR) share price is steady in afternoon trade after a 6% surge earlier today.

Shares in the gas explorer shot up to 26.5 cents apiece mid-morning but have slipped back amid general market malaise.

Let's take a look at what's happened with the Elixir share price today.

Hydrogen update propels Elixir share price higher

Shares in Elixir received a boost in morning trade after the company released a compelling presentation on its interest in hydrogen and the market potential.

The company highlighted various initiatives that its subsidiary in Mongolia, GOH Clean Energy LLC, has been pursuing.

According to the presentation, Elixir considers Mongolia as one of the best locations in the world to produce green hydrogen.

The factors that make the location attractive include its proximity to Chinese markets, low-cost delivery options and few competitors.

Elixir noted its current natural gas assets in Mongolia are highly complementary to pursuing more clean energy ventures.

In particular, Elixir highlighted the market opportunity in China.

The company noted the physical nature of hydrogen makes it expensive to ship long distances. As a result, hydrogen sources adjacent to large users like China present a massive competitive advantage.

More on Elixir Energy

The Elixir share price has made numerous headlines this past month.

Most recently, the company released an operations update relating to its Nomgon IX Coal Bed Methane site.

Elixir's management noted the company now has 3 new potentially productive sub-basins in its inventory.

Shares in Elixir have remain buoyed since the company announced it had extended the area of discovery in its Kingston sub-basin in late August.

Recently, the Elixir share price has also been boosted by the recent price rally in the oil markets.

Snapshot of the Elixir share price

The Elixir share price has had a volatile run in 2021.

Shares in the gas explorer shot to record highs in April and have been progressively sold down since.

Despite the sell-off, the Elixir share price remains more than 104% higher since the start of the year.

At the time of writing, shares in Elixir are flat for the day at 25 cents apiece after hitting 26.5 cents around 11 o'clock.

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The Elixir Energy Ltd (ASX: EXR) share price is blowing off steam after the energy producer announced an operations update.

At the time of writing, Elixir shares are swapping hands for 27 cents, down 3.57%.

What's driving the Elixir Energy share price lower?

Investors are selling off Elixir shares after the company provided an update of its operating performance over the last month.

This relates to its current exploration campaign at its wholly-owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC). CBM is better known as coal seam gas in Australia.

The company said its Richcairn-1S exploration well, located within the Nomgon project in Mongolia, has now been completed. Up to 792 metres were drilled, and 16 metres of coal and 20 metres of highly carbonaceous mudstone (silty coal) were discovered.

The rig will move to another location, Richcairn-2S, with drilling due to start in the next day or so. In a possible boost for the Elixir Energy share price, the company noted that drilling further wells could lead to an extensive coal-bearing sub-basin for 2021 and beyond.

As the last 6 wells have all intersected their coal targets, the company will add a third rig to accelerate its 2021 drilling program.

The Nomgon Central-1 core-hole has reached a total depth of 559 metres and logged 65 metres of coal. Currently, the well is gathering data that will underpin the design of future production testing. A number of laboratory tests are expected to follow in the coming months.

Drilling at the next Nomgon sub-basin appraisal well – Nomgon 6 – will begin later this week. The results from this will be used in the technical design of the planned 2022 production testing. In addition, the results will help secure the required environmental and other approvals in Mongolia.

Lastly, Elixir's expanded seismic program is also due to begin shortly, targeting the acquisition of another 300 kilometres.

Management commentary

Managing director Neil Young commented on the news possibly driving the Elixir Energy share price:

With Richcairn, we have now added 3 new potentially productive sub-basins to our inventory in 2021 to date.

At Nomgon we continue to gather the data required to underpin our foreshadowed two-stage production testing process. As always in the last 18 months, we commend the resilience of our Mongolian team and sub-contractors in battling through the ongoing COVID-19 pandemic.

The Elixir Energy share price has doubled in value over the past 12 months and is up roughly 120% this year.

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The Elixir Energy Ltd (ASX: EXR) share price has jumped into the green today, finishing up 14.29% to 28 cents.

Let's have a look at what's been fuelling Elixir Energy's share price today.

What's been happening Elixir Energy?

There has been no market-sensitive information released by the company in September.

However, Elixir shares have been on the up since the company announced it had extended the area of discovery in the Kingston sub-basin back on 25 August.

After a short selloff in the couple of days after this announcement, Elixir shares have been regaining steam ever since.

One other factor that could be aiding this recovery is the recent price rally in the oil markets.

Crude oil has jumped from US$62 a barrel on August 20 to US$72.66 a barrel today. Additionally, the price of Brent crude has edged higher on the day to US$$75.45 a barrel.

Elixir is an ASX resource share that produces a commodity, meaning it is considered a price taker. As such, its share price will fluctuate with volatility in the broader commodities markets.

With this relationship in mind, and given the recent strengths in oil pricing described above, it starts to make sense why the Elixir share price has soared by 14% today.

In the absence of any other market-sensitive information, it appears investors could be buying Elixir shares on the back of strengths in the underlying oil markets.

Elixir Energy share price snapshot

The Elixir Energy share price has climbed 124% this year to date, and 86% over the past 12 months.

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

Despite the recent rally, Elixir shares are still off their 52-week high of 51 cents. However, they are aloft the 52-week low of 9.8 cents.

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The Elixir Energy Ltd (ASX: EXR) share price has faced headwinds over the last few months, despite several advancements in the company's operations.

Whereas the S&P/ASX 200 index (ASX: XJO) has climbed 1.4% into the green over the last three months, Elixir shares are 20% in the red. At the time of writing, they are down 4.17% today to 23 cents.

Here's why.

Quick rundown on Elixir Energy

Elixir Energy is in the oil and gas exploration business and has a number of government and other energy stakeholder relationships, according to the company.

Currently, it is "solely focused" on an exploration program in Mongolia targeting natural gas in the form of "coal-bed methane (CBM)".

What's up with the Elixir Energy share price lately?

The Elixir Energy share price has been on the way down despite a series of updates from its Nomgon IX CBM Production Sharing Contract (PSC).

It was in June when the company first established the presence of coal through one of its drill holes. At the time, it stated drilling had intersected 48 metres of coal.

The find wasn't without setbacks, with the company encountering a number of mechanical issues and unlikeable drilling conditions.

Then in July the company's extended drilling operations in the Kingston sub-basin of Nomgon discovered a further 12 metres and 8 metres of coal from two drill holes, respectively.

Elixir also released its quarterly earnings report in late July where it gave several potential investment highlights.

These included a successful capital raise that strengthened the cash position on its balance sheet to $33 million.

As a result of the finds in Kingston, the area of discovery in the sub-basin was extended to 50km2 on 25 August.

It also advised that several other drilling programs are underway in addition to identifying a new drilling target. The company has named the prospect "Lattice".

Despite these advancements, investors continue to sell off Elixir shares.

In fact, the downward pressure on Elixir shares is a continuation of a longer-term downward trend over the last 6 months. This comes after a high of 45 cents for the Elixir Energy share price in April.

Not all doom and gloom for the Elixir Energy share price

Taking a long-term view, we see the Elixir Energy share price has gained 84% this year to date and 70% over the last 12 months.

This far outpaces the broad index's return of around 25% over the past year.

The post Why the Elixir Energy (ASX:EXR) share price is down 20% in 3 months appeared first on The Motley Fool Australia.

The Elixir Energy Ltd (ASX: EXR) share price is racing higher today following the release of an operations update.

At the time of writing, the energy producer's shares are up 7.14% to 30 cents.

Let's take a closer look at what the company announced.

How is Elixir tracking along?

According to its release, Elixir provided a mixed update to its operating performance over the last month. This relates to its current exploration campaign at its wholly-owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC).

Located within the Nomgon project in Mongolia, the company advised that it's West Yangir-1 core-hole has intersected 48 meters of coal. This was achieved upon drilling to a depth of 350 meters. However, the drilling hole has been met with some difficulty. The company stated that it has encountered various mechanical issues along with unfavourable drill-hole conditions.

Moving across to the far North-West of the PSC, the Manlai-1S exploration well has also faced mechanical issues during drilling. As a result, the planned target depth was not reached.

While the first two wells stumbled across drilling problems, investors appear to have focused on the new coal find. Elixir highlighted that it moved the Top Diamond LLC rig to a new sub-basin in the PSC, named Kingston-1S. Upon spudding the well, the company discovered new coal.

Elixir managing director, Neil Young said:

The very thick total coals measured in the West Yangir-1 well have been highly encouraging, as has the discovery of coals in the drilling to date in the new Kingston location. Our ongoing program for 2021 (and the years thereafter) has many more wells to come and is still being vigorously prosecuted, notwithstanding the global pandemic. Mongolia's resilience in dealing with the varying challenges that COVID has thrown up is to be commended.

In addition, Elixir's 2021 2D seismic program has finished its originally planned 220 kilometres phase. Processing and interpretation are currently being conducted to find new exploration targets for future drilling programs. An expansion of the seismic program is also being planned.

About the Elixir share price

Since mid-April, Elixir shares have had a disappointing run, falling close to 40% from its multi-year high of 51 cents. Although, when comparing against this time last year, the company's share price took off, gaining more than 650%.

Elixir has a market capitalisation of around $249 million, and approximately 891 million shares registered on its books.

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The Elixir Energy Ltd (ASX: EXR) share price is climbing today following the release of an operations update.

During late afternoon trade, the energy producer's shares are fetching for 40.2 cents, up 3%.

What did Elixir announce?

Investors appear upbeat with the company's latest progress, pushing Elixir shares within reach of its multi-year high of 51 cents.

In a statement to the ASX, Elixir provided an update on the current exploration program at the Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC).

Located within the Nomgon project in Mongolia, Elixir advised it has spudded its Cracker-1S exploration well yesterday. The drilling is the first in the sub-basin which was identified by the company's 2020 2D seismic program.

A little over a month ago, a second drilling company was sub-contracted by Elixir. It noted that as soon as COVID-19 restrictions lift, it will move to a new area in the sub-basin. This is expected to occur within the next two weeks.

Elixir highlighted that its 2021 2D seismic program has acquired 51 kilometres of new seismic. This is being processed quickly for the expanded drilling program.

Elixir managing director, Neil Young commented:

The Cracker-1S well is an exciting one for the Company, given its significant distance from our prior discoveries. Its geological potential to open up a new sub-basin is supplemented by its favourable location for access to such infrastructure as larger capacity electricity lines and the regional capital.

Elixir Energy share price summary

It's been an impressive 12 months for shareholders who invested in the Elixir share price, recording gains of 1,200%. Looking at year-to-date performance, late investors would also be seeing green, up 220%. Interestingly, the company's shares have been on a strong growth trajectory since the start of the year.

Based on valuation metrics, Elixir commands a market capitalisation of around $337 million, with roughly 842 million shares on issue.

The post Here's why the Elixir Energy (ASX:EXR) share price is climbing today appeared first on The Motley Fool Australia.

The Elixir Energy Ltd (ASX: EXR) share price is plummeting today following news of the company's latest placement and share purchase plan.

At the time of writing, the Elixir Energy share price is down 10%, with shares in the company trading for 41 cents apiece.

Let's take a closer look at the news released by the energy company today.

Elixir Energy's capital raising

The Elixir Energy share price fall comes after the company announced it has successfully raised $10 million from a significantly oversubscribed placement.

The company will issue more than 27.7 million new shares under the placement.

They were each priced 20% less than the previous closing price and 18% less than the 5-day volume-weighted average price, at around 36 cents apiece.

Elixir Energy will also be completing a share purchase plan. It will issue shares at 36 cents apiece to raise another $20 million.

The share purchase plan is to open on Friday and will close on 7 May 2021.

The money raised by both expeditions will go towards Elixir Energy's "multi-faceted" appraisal program in Mongolia. 

The company aims to bring forward the project development and production by between 18 and 24 months.

Commentary from management

Elixir managing director Neil Young said the company's efforts have allowed it to expand and accelerate its program in Mongolia. He added:

In addition to the support from existing and new sophisticated investors in the successful placement announced today, we are pleased to provide the opportunity to ensure all of our shareholders have the chance to share in our growing success by participating in a SPP.

Elixir Energy share price snapshot

Despite the drop following today's news, the Elixir Energy share price is having a fantastic year on the ASX.

Currently, it's up by 189% year to date and has lifted a massive 1,925% over the last 12 months.

The company has a market capitalisation of around $366 million, with approximately 814 million shares outstanding.

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The Elixir Energy Limited (ASX: EXR) share price has powered up this morning after the company released an update regarding 3 operations.

The Elixir Energy share price gained 16% in early morning trade but has since retreated. At the time of writing its trading at 45 cents, a gain of 4.65%.

Let's look closer at the company's news today.

Why is the Elixir Energy share price lifting?

A new contract

First, the company shared an update from the exploration and appraisal program underway at its Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract Project.

The CBM is based in Mongolia and owned entirely by Elixir Energy.

Elixir advised the first well in CBM's 2021 drilling program, Yangir-2, has been finished. It found a highly fractured depocentre hosting gaseous rocks.

The company said the results were encouraging for permeability and gas content but have made for "more complex drilling operations". The desorbed gas was found to contain 99% natural gas, with no additional processing needed before going to market.

Two more drilling rigs are to be begin drilling wells later this month, targeting both new and previously recorded depocentres.

Elixir Energy's largest seismic program

The company also announced that it has just started its largest seismic program to date. A seismic survey is a non-invasive way to gather information about the location and characteristics of geological structures beneath the earth's surface.

Elixir's program comprises 220km of 2D seismic. Multiple depocenters are to be targeted, made up of both new seismic work and follow-ons to existing seismic work.

COVID-19 update

Finally, the company provided an update on the impact the COVID-19 situation in Mongolia is having on its business.

Mongolia is currently experiencing government mandated lockdowns and border controls.

Elixir Energy stated it was working closely with the government to work within the rules with minimal affects to its field program.

The company has vaccinated its staff and contractors and implemented isolation procedures. It believes it's now set up for maximum resilience against any issues that may arise from the ongoing pandemic.

What did management say?

Elixir Energy managing director Neil Young commented on the company's updates, saying:

Elixir's 'rinse and repeat' model for the repeatable and low cost discovery and appraisal of gas on the Mongolian/Chinese border continues to successfully roll out in 2021.

Especially pleasing recent news is the sales gas specification (and strong gas content) from Yangir-2 and the ability of our broad team to work through the current COVID related issues.

Elixir Energy share price snapshot

Elixir Energy is having a good year on the ASX, with today's news just the latest boost to its share price.

Currently, the energy company's share price is up 225% year to date. It's also up a whopping 2,175% over the last 12 months.

Elixir Energy has a market capitalisation of around $348 million, with approximately 811 million shares outstanding.

The post The Elixir Energy (ASX:EXR) share price is charging up today. Here's why appeared first on The Motley Fool Australia.

A group of ASX-listed companies have started measuring their environmental, social and governance (ESG) worth to report alongside their financial numbers.

Reporting ESG performance had always been an inexact science, unlike well-established accounting standards.

But the World Economic Forum in September published a set of metrics that corporates can use to evaluate their ESG chops.

Using this framework, 6 Australian-listed companies announced Wednesday that they would start reporting ESG metrics in their quarterly reports required by the ASX:

• Euro Manganese Inc (ASX: EMN)
• Vulcan Energy Resources Ltd (ASX: VUL)
• Elixir Energy Ltd (ASX: EXR)
• Minbos Resources Ltd (ASX: MNB)
• MyFiziq Ltd (ASX: MYQ)
• WhiteHawk Ltd (ASX: WHK)

Melbourne tech firm Socialsuite is providing the software for these companies to report their non-financial metrics.

Vulcan Energy is a mining company with a $259 million market capitalisation that's developed a method to produce lithium with minimal carbon emissions.

Managing director Francis Wedin said his business was proud to be one of the first adopters of the new standard ESG metrics.

"Positive impact and ESG is the core reason we started the company," he said.

"We know that by delivering against ESG we can create long term sustainable value, while driving positive outcomes for the business, the economy, society, and the planet."

Most investors care about ESG now

Unfortunately for those trailblazing companies, 20% of Australian investors would take higher returns over their own moral code.

But this also means 80% of local investors care about how the companies they buy into align with their personal beliefs.

The rise of ESG as a factor in investment choices was prominently on display last year after Rio Tinto Limited (ASX: RIO) blew up the historically significant Juukan Gorge.

The multinational mining giant initially defended its actions, saying its actions complied with the law. 

An internal investigation later stripped $7.2 million of bonuses off 3 executives, but this only caused more public outrage for putting a 'valuation' on the priceless site.

But sustained pressure from major shareholders, including some of Australia's biggest superannuation funds, sent the 3 executives packing – albeit with massive enough golden handshakes that would mean they never had to work again.

"Investors have stepped up in this instance and demonstrated that they will not accept corporate misinformation and the absolute disrespect to cultural sites that has become Rio's modus operandi," Australasian Centre for Corporate Responsibility legal counsel James Fitzgerald told The Motley Fool at the time.

"Shareholder democracy and investor action is alive and well in Australia."

The spectacular 700% rise in the share price of Tesla Inc (NASDAQ: TSLA) last year was also a case in point. Many retail investors were thrilled with backing a company they considered a part of the solution, rather than the carbon-emitting establishment.

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