3 Lithium Stocks Under Investors’ Radar - GXY, PLS And ORE

  • Jan 07, 2019 AEDT
  • Team Kalkine
3 Lithium Stocks Under Investors’ Radar - GXY, PLS And ORE

As both lithium and cobalt are driven by battery demand, the demand for these metals will continue to evolve. However, the rise in the price of lithium recently has raised questions over the long-term availability of the commodity and mining companies need to respond to the provision of the same. This uncertainty can mean that miners will need to increase the capacity and protect investors from the price risk. Let’s look at three lithium companies under the investors’ radar.

GALAXY RESOURCES LIMITED (ASX: GXY) – About the sale of the northern tenement package at Salar del Hombre Muerto, Galaxy recently said that the final tenement transfer deeds had been executed with POSCO. Independent of the ongoing strategic process the project development will continue to advance, and the company focuses on advancing Sal de Vida in the near term. The Sal de Vida project is known globally amongst the best-undeveloped lithium resources. After the completion of the POSCO transaction for US$280 million the project already substantially de-risked from a financial perspective. The Project advancement’s next stage will be first focused on the execution of a FEED phase; Galaxy is negotiating to formally appoint Worley Parsons as PMC to lead the FEED and the optimization work program. The stock price traded at around $2.260 which is up by 2.727%.  

PILBARA MINERALS LIMITED (ASX: PLS) – Required to support the development of the Stage 2 expansion of its 100%-owned Pilgangoora lithium-tantalum project to provide the balance of the funding the company is happy to declare details of a proposed multi-pronged funding package. Satisfying its Stage 2 funding commitment, a US $25M (~A$35.5M) offtake pre-payment facility to be provided by Great Wall Motor company and A$50M equity placement to Jiangxi Ganfeng Lithium Co. Ltd. A proposed new US $50M by the terms and conditions of the company’s existing Nordic Bond to be issued. To secure their full Stage 2 offtake applications, allowed customers from the financing provided by Ganfeng and Great Wall. The stock price traded at around $0.730 which is up by 3.546%. The market cap at the current price is $1.23 billion as at January 07, 2019.

OROCOBRE LIMITED (ASX: ORE) – Following the near finalization of shipping schedules and pricing outcomes the company is to provide an update on production and commercial estimates. For the half year, the production remains in line with previous guidance for FY19 and is expected to be approximately 6,000 tonnes. Resulting in December quarter prices of approximately US$10,800 per tonne on sales of approximately 2,850 tonnes the pricing achieved recently has been affected by soft market conditions in China having a direct impact on shorter-term contracts. The stock price traded at around $3.230 which is up by 5.212%. The market cap at the current price is $802.19 million as at January 07, 2019. The stock has a very high P/E of 274.110 compared to its peers and has an EPS of 0.011 AUD.


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