The Needle On 3 Stocks Under Market’s Purview- SYR, LCK And WKT

The Needle On 3 Stocks Under Market’s Purview- SYR, LCK And WKT

Syrah Resources Limited

The Melbourne-based Syrah Resources Limited (ASX: SYR), is a metals and mining sector company engaged in the exploration and development of mineral properties. Its flagship project is the Balama Graphite and Vanadium project in the Cabo Delgado province of northern Mozambique, Africa. To date, the company has a market cap of around AUD 463.08 million with ~ 344.3 million outstanding shares. On April 4th, 2019, the SYR stock price closed the market trading at AUD 1.345, up by 13% and today on Friday, April 5th, 2019, the stock settled at AUD 1.355, up by 0.743%.

Recently the company released a preliminary update on the Balama Graphite Operation for Q1 2019, posting the natural flake graphite production at 48kt above the guidance of ~45kt and a record production of ~19kt for the month of March due to higher recovery, plant availability and utilisation. The cash as at March 31st, 2019 amounted to USD 62 million. Besides, the loss after income tax for the financial year ended December 31st, 2018 was USD 29 million and the total expenses for the year were USD 32 million.

Leigh Creek Energy Limited  

Leigh Creek Energy Limited (ASX: LCK) is an emerging energy company that explores for carbon monoxide, hydrogen, methane and coal. Its flagship property is the Leigh Creek Energy project in Adelaide, South Australia. On April 4th, 2019, the LCK stock closed the market trading at a price of AUD 0.285, up 7.547%. While, today on Friday, April 5th, 2019, the stock settled at AUD 0.295, up 3.51%. In addition, the stock’s YTD return also stands high and positive at 137.5%.

On April 4th, 2019, the company’s director, Zheng Xiaojiang, increased his stake in the company by acquiring 25,000,000 convertible notes (conversion price $ 0.12, maturity date April 3rd, 2021), 8,360,426 ordinary shares and 25,000,000 ordinary shares upon conversion of convertible notes. Meanwhile, China New Energy Group Limited reduced its stake in the company from 27.39% to 24.89%. In addition, Crown Ascent Development Limited became company’s substantial shareholder with  8.37% voting power, effective 3 April.

Walkabout Resources Ltd

Walkabout Resources Ltd (ASX: WKT), based in West Perth, explores and develops resource and energy assets in Namibia, Tanzania and Northern Ireland with a  100% stake in the the high-grade Lindi Jumbo Graphite Project in South East Tanzania. On April 4th, 2019, the WKT stock price closed the market trading at AUD 0.170, up 3%. Today on April 5th, 2019, the WKT stock settled at AUD 0.175, up 2.941%. The stock has generated a positive YTD return of 84.78%.

Recently, the African graphite produer informed the market that it had signed the first binding offtake term sheet with Walkabout Qianxin Graphite Co., Ltd from China after months of testwork and discussions.  As per the key terms, Walkabout will deliver a minimum of 10k tonnes and a maximum of 20k tonnes per annum of flake graphite to Walkabout for 3 years after the beginning of production. For the transaction, the final pricing agreement is expected to be agreed at a date, at least one month before the delivery of the first batch of concentrate.


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