Battery Minerals’ securities placed on a trading halt

BPT

The West Perth-based Battery Minerals Limited (ASX: BAT), formerly known as Metals of Africa Limited, is engaged in varied mining development and mineral exploration activities in East Africa. It has a particular interest in zinc/lead, graphite and copper deposits.

At the start of market trading on April 2nd, 2019, the securities of Battery Minerals were placed in a trading halt awaiting the release of an announcement (regarding interim fund raising) to the market. The halt is expected to last until the commencement of regular trading on Thursday, April 4th, 2019.

The company’s current market valuation stands over AUD 34 million to date with approximately 1.11 billion outstanding shares. The BAT stock closed the trading on April 1st, 2019 at the last sell-off price of AUD 0.031. Also, BAT has generated a positive year-to-date return of 29.17% so far.

Sponsored ad by Kalkine

Recently, Battery Minerals released the Paydirt’s Battery Minerals Conference March 2019 Presentation which entailed numerous crucial points. As per the projection by the Benchmark Mineral Intelligence (BMI), the sector-wise compound annual growth rate (CAGR) of demand for Graphite by 2018-2035 is estimated to be 22% for the battery market and 4% for other industrial applications. With this backdrop, the company believes that its product range meets the precise requirements of the high growth electric vehicle (EV) battery and energy storage sectors.

Currently, the company is focussed on developing its two high potential graphite assets in Mozambique. Significant headways have been achieved for the Montepuez Graphite Project with mining licence granted, project finance to be delivered by Original Capital, port allocation and offtake agreements in place while construction and lender engagement is underway. With an estimated total capex of USD 51.2 million (USD 13.8 million already spent) and a mine life of over 50 years, there are no regulatory impediments to commence the production and exports at this site.

As for the Balama Central Project, the feasibility study was completed in December 2018, and it has an estimated capex of USD 69.4 million with a mine life of over 35 years. The environmental and social impact assessment (ESIA) is ongoing and expected to be submitted shortly.

Based on the October 31st, 2018 BMI FOB China graphite prices, the basket price of Montepuez 96% TGC graphite concentrate is USD 1,064.63/t. Similarly, as per the recent BMI CIF China graphite prices for eight years starting 2022, the forecast basket price of Balama Central 96% TGC graphite concentrate in 2022 is USD 1,106/t for the weathered material and USD 1,275/t for fresh material.

On March 22nd, 2019, Battery Minerals released its report for the full year 2018, posting the loss after tax of ~ $ 7.24 million, up on ~ $ 5.82 million in the prior corresponding period (PCP). The company’s net assets increased from $ 17,846,393 as at December 31st, 2017 to $ 44,644,650 as at December 31st, 2018 due to the capitalised exploration and evaluation and mine development expenditure incurred during the financial year. Meanwhile, the working capital marginally reduced to $ 6,638,314 and the net cash and cash equivalents amounted to $ 7,252,709.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Facebook Comments
Join Our Forum

We help you to connect with investors and people connected with the stock market.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here