When it comes to metals and mining sector companies, the region becomes quite significant, and in Australia, Western Australia holds a wide range of minerals. The mining division is export driven, and exports are expected to result in around 70% of the revenue in 2018/2019. Revenue is impacted primarily because of mixed pricing, the supply trends, the AUD and the demand for the commodity. The robustness of the maturing lithium market was observed during the Q4 of 2018. Let’s look at the five companies involved in this sector.
AVZ MINERALS LIMITED (ASX: AVZ) – With its flagship Manono Lithium and Tin Project into production the company is fast-tracking. With a JORC compliant mineral resource of 400.4Mt @ 1.66% lithium including a 351-meter intercept grading 1.75% lithium, the Manono Project is one of the largest and highest-grade hard rock lithium projects globally. Equating to more than five times AVZ’s current market of circa $126m, $700m+ worth of shares traded in the last 12 months. As of November 9, 2018, the company has cash of $6.5 million and an enterprise value of $120.5 million. The stock price was up by 3.846% and traded at $0.054.
AUSTRALIAN MINES LIMITED (ASX: AUZ) – The Sconi Cobalt-Nickel-Scandium Project is approved as a Prescribed Project by the Government of Queensland, as per the announcement made by the company. In a move that will assist in streamlining Sconi’s progress, through fast-tracking its future development and the final stages of regulatory approvals. There’s over $1bn of capital expenditure planned for which the company should be commended. With the company also set to open a regional office for which construction is anticipated to start in 2019 for the Sconi project. The stock price was up by 10.526% and traded at $0.042.
GALAXY RESOURCES LIMITED (ASX: GXY) – The average cash margin including royalties and marketing fees is of US$288 per dmt sold. Two new exploration wells were drilled during the quarter in the southern basin of Salar del Hombre on the Sal de Vida tenements. To undertake the combined feasibility study and integrating a downstream conversion facility into the project design, the bid process is completed selecting specialized consultants and engineering firms. Beginning from Q1 2019, the developments in recoveries and production rates are expected to be realized. Galaxy has no debt facility and enough liquidity. The stock price was down by 0.952% and traded at $2.080.
CANN GLOBAL LIMITED (ASX: CGB) – Queensland Bauxite Limited following receipt of shareholder approval at its September 2018 general meeting and registration by the ASIC, is delighted to advise it has now changed its name to Cann Global Limited has now reached the significant milestone. To include the medicinal cannabis and hemp industries, the change of name also reflects the approved change to the nature and scale of Cann Global’s activities. The shares of the company are not yet trading under this new code CGB. The stock price is currently under suspended status and last traded at $0.037.
AUS TIN MINING LTD (ASX: ANW) – About the issue of 10,000,000 fully paid ordinary shares on 17 January 2019 by the company, a notice is given by the company under section 708A(5)(e) of the corporations Act. The company is compliant with the relevant provisions of chapter 2M of the Corporations Act and Section 674 of the Corporations Act and is not aware of any excluded information within the meaning of Sections 708A (7) and 708A (8) of the corporations Act. Resumption of processing operations and construction of tailings storage facility completed at Granville Tin Project. The stock price traded at $0.015 which is close to its 52-week low.
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