Three Lithium Stocks – LIT, LI3, PNN

Three Lithium Stocks - LIT, LI3, PNN

Lithium Australia NL

Lithium Australia NL (ASX: LIT) is a mineral exploration company with a key bent towards extraction and recovery of lithium. It holds interest in several projects located in Germany, Mexico and Australia. To date, Lithium Australia’s market cap is ~AUD 36.84 million with ~ 466.31 million outstanding shares. On May 2nd, 2019, the LIT stock ended the trading session at the last recorded price of AUD 0.079, remained unchanged as compared to its previous closing price, with ~ 100,119 shares traded.

On April 30th, 2019, the company released its Quarterly Activities Report for the March 2019 quarter. Accordingly, an exploration programme was undertaken in January 2019, at the Medcalf prospect at Lake Johnston in Western Australia, which confirmed the presence of spodumene pegmatite swarms. Besides, an aerial survey was completed at its Youanmi lithium project and Lithium Australia also began a pre-feasibility study for the Sadisdorf lithium project in Germany. At the end of the three months to March 31st, 2019, the net and cash equivalents amounted to approximately AUD 9.13 million.

Lithium Consolidated Limited

The Brisbane, Australia-based Lithium Consolidated Limited (ASX: LI3) is a company from the metals and mining industry. It primarily explores and develops brine and hardrock lithium deposits in projects located across Australia, Africa and the United States. With a current market cap of around AUD 7.72 million and 90.82 outstanding shares, the LI3 stock last traded at price of AUD 0.087 (as on May 2nd, 2019). Besides, LI3’s six-month return yield is around 39.34%.

Recently, the company disclosed its March 2019 Quarterly Report. In the concerned three-month period, two lithium exploration licenses were secured in Mozambique’s Alto Ligonha Pegmatite Province while the initial sampling confirmed the presence of lithium mineralisation at Nels Luck and Bepe projects in Zimbabwe. Besides, the due diligence is underway for the Bepe and Kondo Mines in Zimbabwe. At the end of the period, the net cash and cash equivalents amounted to AUD 716K. The operating net cash outflows totalled AUD 327K.

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Pepinnini Lithium Limited

Pepinnini Lithium Limited (ASX: PNN), based out of Kent Town, Australia, is focused on the discovery and development of mineral deposits including copper, lithium, nickel, gold and cobalt deposits in Australia and Argentina. With a small market capitalisation of around AUD 3.68 million and 1.23 billion outstanding shares, the PNN stock last traded on the market price of AUD 0.003 on May 2nd, 2019. The stock closed flat as compared to its previous days price.

Recently, Pepinnini Lithium released its Quarterly Activities and Cash Flow Reports for the three-months to March 31st, 2019. During the period, the company undertook a private placement and entitlement issue (fully underwritten) that raised around $ 1.5 million before costs. The net cash and cash equivalents at the end of the period amounted to AUD 107K. The operating activities generated ~ AUD 303K net cash outflows due to payments for exploration, evaluation, staff and corporate costs.  Meanwhile, the financing activities resulted in net cash inflows of ~ AUD 294K aided by the proceeds from issue of shares.


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