3 Junior Players in Lithium Space - PSC, LIT and CXO

Due to an increasing use of the metal in EV batteries the demand for this metal is rising as indicated by speculators. When it comes to lithium, Australia is the largest producer in the World and we see more companies are joining this boom. Here are three relatively new players in Lithium space:

PROSPECT RESOURCES LIMITED (ASX: PSC) – The company has advised a ground-breaking ceremony for the Arcadia Lithium Project which signifies a key milestone in the company’s path forward to finance, develop and produce lithium at Arcadia. The IRR of the company is 44% after US $165 million capex with rapid payback period of 2.5 years. It has delivered strong project economics driven by scale, low cost of operations and proximity to infrastructure. With an offtake agreement in place it is positioned to capitalize on market demand. PSC’s market capitalization at current market price is of $51.15 million. The stock traded at a market price of $0.028 with a daily percentage change of 12% as at November 27, 2018 which is near its 52-week low. It has undergone a performance change of 8.70% over the past one week.

LITHIUM AUSTRALIA NL (ASX: LIT) – As compared to 2017 loss of $4,592,225 the operating loss after income tax for the year ended 30 June 2018 was $8,093,005. The working capital surplus, being current assets minus current liabilities, however, was $13,697,269 as at 30 June 2018 when compared to 2017 working capital surplus of $2,726,613 and the director believes that the consolidated entity will be able to pay its debts as and when they become due and payable. The cash and cash equivalents during financial year as at June 30, 2018 is $18,339,857 with no debt represents a healthy balance sheet. LIT’s market capitalization at current market price is of $45 million. The stock traded at a market price of $0.100 with a daily percentage change of 3.093% as at November 27, 2018 which is near its 52-week low. It has undergone a performance change of 4.30% over the past one week.

CORE LITHIUM LIMITED (ASX: CXO) – The net loss of the Group, from the year ended 30 June 2018, was $2,094,330 compared with 2017 loss of $1,933,689 after providing for income tax – an increase of $160,641 mainly due to increase in administrative costs and increase in corporate activity and resultant labour costs. The loss is partly offset by a reduction in impairment expense of $381,436 due to a lower value of tenements relinquished during the year. During the reporting period there were no dividends paid or declared. Core’s market capitalization at current market price is of $36.76 million. The stock traded at a market price of $0.062 with a daily percentage change of 6.897% as at November 27, 2018. It has undergone a performance change of 5.45% over the past one week.


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