While ASX had a very-quite day regarding trading after reaching a 2-month high this week, the Australian shares were helped by the metals and mining stocks during the week, and the gains were extended. The lithium price is still being contemplated by the investors considering the varying demand and supply of the metal. Three lithium stocks are discussed today.
QUEENSLAND BAUXITE LIMITED (ASX: QBL) – The company went ahead to clarify that the issue price of shares under its capital raising offer is still $0.035 per share. The company is presently undertaking projects with no fewer than 11 Australian and International companies, and during the past year, QBL has successfully entered into joint ventures, formal agreements.
The company is looking forward to profitable returns on their investments and increasing shareholder wealth moving forward into 2019. The stock price is not trading and is under suspended status the last traded price was at $0.037, and in the past year, the stock has seen a rise in performance of 236.36%. The stock has a relatively better P/E of 8.530 and EPS of 0.532 AUD.
ALTURA MINING LIMITED (ASX: AJM) – With the last cargo departing Port Hedland on 27 December 2018, Altura has shipped four cargoes totaling 24,000 dry metric tonnes to Chinese based converters, with grade as high as 6.2% Li2O and averaging 6.1% Li2O, 1.04% Fe2O3 and 0.63% Mica. Moving to two shipments when nameplate capacity is achieved Altura plans to dispatch at least one shipment per month. Demonstrating the capability of the plant at that stage of appointing, during November 2018 the process plant was able to deliver an output of up to 70% of nameplate over several continuous 24-hour periods. The stock price is trading higher and is at $0.155, and in the past year, the stock has seen a decline in performance of -65.26%.
GALAXY RESOURCES LIMITED (ASX: GXY) – There was a change in the director’s interest of Jian-Nan Zhang with additional 231,865 shares fully paid and 375,000 unlisted options exercisable at $2.78 on or before 14/6/2020. With existing production and a world-class asset development pipeline, the company has one of the premier global lithium opportunities. With a deep industry knowledge, the company has a history of building successful mining companies highly credentialed management and board. The stock price is trading up at 0.909% the last traded price was at $2.220, and in the past year, the stock has seen a decline in performance of only -48.36%. The stock has a high P/E of 35.890 and an EPS of 0.061 AUD.
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