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

  • Nov 27, 2018 AEDT
  • Team Kalkine
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.


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 advic

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK