2 Lithium Stocks – AJM, JDR

Altura Mining Limited

The Perth-based Altura Mining Limited (ASX:AJM) explores and develops mineral properties in Australia and Indonesia. It has a market cap of AUD 265.64 million to date. With the close of the trading session on March 15th, 2019, the AJM stock price stood at AUD 0.155, up AUD 0.015, rising by 10.71% with ~9.78 million shares traded.

On the same day, the company announced a further increase in its Securities Purchase Plan (SPP) to $ 14 million upon receiving continued strong demand from its existing shareholders, which probably stems from an improved operational performance from Altura’s flagship Lithium Mine located in the Pilbara region of Western Australia and culminated in a formal declaration of commercial production on March 13th, 2019. The increased amount is the maximum that Altura can raise and reflects a significant jump from $ 5.0 million declared on February 7th, 2019.

Altura Mining recently published its financial results for the half-year ended December 31st, 2018, whereby the operating loss after providing for income tax was posted at $ 10.98 million, upon the loss of $ 4.33 million recorded in the prior corresponding period (pcp) ended December 31st, 2017. The company also signed a new binding offtake agreement with GFL International Co., Limited for which the supply commenced in late 2018 at a minimum of 70k tonnes per annum from 2019 until the end of 2021. It also entails an option for further five-year extensions through to 2031. Besides, Altura reduced its current annual BOA commitment of 100k tpa to 50k tpa under another agreement reached with the existing BOA partner Shaanxi J&R Optimum Energy Co., Ltd.

Jadar Lithium Limited

The Subiaco, Australia-based Jadar Lithium Limited (ASX: JDR) explores for lithium and other mineral properties. In Serbia, the company holds 100 per cent interest in five exploration licenses covering ~328 km2 and also has an 80% interest in two exploration areas with 99 permits in Austria. Jadar has a market cap of AUD 4.32 million. With the end of trading session on March 15th, the JDR stock price edged up 11.11% to AUD 0.010, by AUD 0.001.

The company released its financial results for the half-year ended December 31st, 2018, posting the total comprehensive loss for the period attributable to members of the parent entity at $ 856.68k. Besides, the net assets at the end of the half-year amounted to $ 3.945 million. There were significant cash outflows of $ 294.7k from operating activities and $357.5k from investing activities. The net cash and cash equivalents stood at $ 2.76 million due to $ 3.42 million available at the beginning of the period on account of financing activities (issue of shares) undertaken in the pcp.

On March 14th, Jadar announced the assay results derived from the initial reconnaissance rock chips sampling program conducted on its 80% owned Austrian satellite lithium exploration projects located in South and South Eastern Austria. The results include high-grade lithium assays of up to 3.88% Li2O, providing encouragement and a strong indication for the projects to host very high?grade lithium mineralisation in the area surrounding European Lithium’s Wolfsberg deposit.


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