Key Updates On Four Lithium Stocks- GXY, PLS, LIT And MIN

Lithium has various usages in multiple products and has a high demand all over the world. It is a metal utilized in rechargeable batteries and other electronic items.

Let us look at the four lithium stocks below:

Galaxy Resources Limited (ASX: GXY)

On 24 January 2019, Galaxy Resources Limited (ASX: GXY) published its activities for the quarter ended 31 December 2018.  In Mt Cattlin Operations, the Production of 33,780 dry metric tonnes of spodumene concentrate achieved during the quarter was lower than targeted. At Sal de Vida 2, fresh exploration wells were drilled on the south of Salar del Hombre during the quarter. James Bay Project saw constant involvement with local Cree community, including further discussion of the Pre-Development Agreement. The closing cash and liquid assets of the company were US$41.1 million with zero debts as of 31 December 2018.

At the end of the trading session (as at 15 February 2019) the stock of the company traded at A$2.020, up by 0.498% or 0.010 points. GXY has a market capitalization of approximately A$819.12 million and 407.52 million shares outstanding. In the past 6 months, the stock has given a negative return of 24.44%, though in the past 5 years GXY stock has given a positive return of 570.69%.  [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

Pilbara Minerals Limited (ASX: PLS)

On 25 January 2019, Pilbara Minerals Limited (ASX: PLS) notified its quarterly report ending 31 December 2018.  Pilgangoora Lithium-Tantalum Project is set for a bright future since it has secured the company’s position as one of the largest, lowest cost lithium tantalum producers in the world, which is company’s ongoing focus of 2019 as well.

At the end of the trading session (as at 15 February 2019) the stock of the company traded at A$0.660, up by 1.538% or 0.010 points. PLS has a market capitalization of approximately A$1.13 billion and 1.74 billion shares outstanding. In the last 3 months the stock generated a negative return of 20.73 %, though during the 5 years it has given a positive return of 5316.67%.

Lithium Australia NL (ASX: LIT)

On 14 February 2019, Lithium Australia NL (ASX: LIT) identified a way in the procedure of metallurgy which has the possibility to give safety for the renewable energy sector in Europe. In Australia, lithium in the near past had utilized waste from mine to generate lithium-ion batteries as announced on 22 November 2018. It was the basis of lately concluded procedure estimated for the LIT’s Sadisdorf lithium project in Saxony, Germany. The estimation anticipated the production of better cathode powders from mica retrieved from tin-mining functioning over there.

At the end of the trading session (as at 15 February 2019) the stock of the company last traded at A$0.082, up by 2.5% or 0.002 points. LIT has a market capitalization of approximately A$37.3 million and 466.31 million shares outstanding. In the last 5 years, the stock of the company has generated a positive return of 60.79% though in the last 3 months the stock gave a negative return of 16.67%.

Mineral Resources Limited (ASX: MIN)

On 6 February 2019, Mineral Resources Limited (ASX: MIN) on behalf of Reed Industrial Metals Pty Ltd which owns and operates the Mt Marion Lithium Project, advised that the sale price for 6% spodumene concentrate shipments for the March 2019 quarter will be $US791.84 per dry metric tonne, compared with US$930.80/dmt for the quarter ended 31 December 2018.

On 20 January 2019, MIN released its Q2 FY19 activities report ending 31 December 2018. During the quarter, the company entered into binding Asset Sale and Share Subscription Agreement with Albemarle Corporation in relation to the sale of a 50% interest in the Wodgina Lithium Project, which is expected to be completed during the 2019 calendar year. There was also an announcement and completion of the acquisition of the Kumina Iron Ore Project. During the quarter, the 12 months rolling average Total Recordable Injury Frequency Rate reduced from 2.94 to 2.87.

MIN closed the trading session at A$15.500, up by 1.685% as on 15 February 2019. The stock has generated a positive YTD return of 13.30% till date.


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