2 Mining Stocks on Trading Halt – ANW, LPD

Aus Tin Mining Ltd

Aus Tin Mining Ltd (ASX: ANW) based in Brisbane, Australia, explores, identifies, and develops nickel and other commodities including gold, cobalt, copper, and silver deposits in Australia. Currently, the company is developing the high-grade Granville Tin Project located north of Zeehan and also the world-class Taronga Tin Project located near Emmaville. Besides, it is also actively exploring for cobalt at its Mt Cobalt project west of Gympie.

ANW has ~1.99 billion outstanding shares. On April 10th, 2019, the securities of the company were placed in a trading halt awaiting the release of an announcement regarding a capital raising initiative. ANW’s stock last traded on 9th April 2019, at A$0.014. The stock has provided a YTD return of 7.69%.

Sponsored ad by Kalkine

On 29th March 2019, ANW informed to have entered in a non?binding Heads of Agreement with Lucas Total Contract Solutions to supply Non?Acid Forming waste rock from the Granville East Mine for construction purposes at the $280-million Granville Harbour Wind Farm. Recently, Aus Tin Mining also reported the results of the deeper drilling at the Pembroke and Mt Cobalt projects. The drill at Pembroke exploration resulted nickel?copper related sulphide mineralisation and confirmed target shear zone at Mt Cobalt.

As for the company’s financial results for the half-year ended 31st December 2018, the loss after income tax was posted at $1,934,341, up from the loss of $1,467,408 in the prior corresponding period (PCP) ended 31st December 2017. The net cash in hand amounted to $54,503 due to extensive cash burns in operating activities (~$1.1 million).

Lepidico Ltd

Lepidico Ltd (ASX: LPD) is another mining player involved in the development and production of lithium assets. Besides, it has a proprietary technology, including the L-Max® Process to produce lithium carbonate from non-conventional sources, specifically lithium rich mica minerals like lepidolite and zinnwaldite; and the more recent LOH-Max™ technology, which produces lithium hydroxide from lithium sulphate without by-produce sodium sulphate.

With 3.36 billion outstanding shares, the LPD stock zoomed up by 13.33% to A$0.034, with 23.41 million shares traded on 10 April, post which a trading halt was placed on the securities of the company pending the release of an announcement (concerning mineral resource estimation). It is expected to last maximum until 12th April 2019. Besides, LPD has also generated a positive YTD return of 126.67% so far.

On March 20th, 2019, Lepidico informed that it had achieved a significant milestone concerning the Pilot Plant Project, which is currently in the implementation phase. All major equipment has been delivered so far, and 91% of the construction was completed until the end of February 2019. Most importantly, the plant feed, from the Portugal’s Alvarrões Lepidolite Mine in Portugal had also arrived. Wet commissioning of the Pilot Plant remains on schedule to commence in April 2019 with operations expected to start during the second half of May 2019.

Lepidico closed the half-year ended 31st December 2018, with a total loss of $2.14 million and ~$7.99 million of net cash and cash equivalents.


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