4 Lithium Stocks In Discussion – EUR, FCC, MNS and NMT

  • Oct 25, 2018 AEDT
  • Team Kalkine
4 Lithium Stocks In Discussion – EUR, FCC, MNS and NMT

By developing a local downstream sector such as refining, Western Australia can capitalize on the $2 trillion projected global lithium value chain as per the new report by the Australian Association of Mining and Exploration Companies. Australia hosts a majority of the major lithium projects and conversion of hard rock concentrate to the final lithium battery increases the profit value 500 times.

EUROPEAN LITHIUM LIMITED (ASX: EUR) – Up to A$10 million finance facility secured to complete the Definitive Feasibility Study (DFS) for the Wolfsberg Lithium Project. Upon the company meeting key milestones relating to the DFS process and standard conditions precedent an initial amount of A$2.5m was drawn down on 14 September 2018 and a further A$7.5m is available in tranches. The cash and cash equivalents at end of quarter the company has $4.46 million available for funding activities. The directors do not recommend the payment of a dividend and no amount has been paid or declared by way of a dividend to the date of this report. As at October 25, 2018, the stock traded at a market price of $0.110 and it has witnessed a performance change of 111.54% since the last one year.  

FIRST COBALT CORP (ASX: FCC) – The Company’s vision is to become the largest primary cobalt producer outside the DRC and completed a three-way merger with Cobalt One and CobalTech. At June 30, 2018, the Corporation had cash of $19,820,447 compared to December 31, 2017 - $29,817,031 and working capital of $18,265,695 compared to December 31, 2017 – $27,763,122. From its Iron Creek Cobalt Project in Idaho, USA, the company has reported new and positive drill results. During the six months ended June 30, 2018, cash used in investing activities was $174,830. As at October 25, 2018, the stock traded at a market price of $0.260 which is near its 52-week low and it has witnessed a performance change of -80.28% since the inception.

MAGNIS RESOURCES LIMITED (ASX: MNS) – AL Capital have become a cornerstone investor by providing funding of $11.1 million to the company, which the company received some welcome news in early September 2018. No dividends have been paid during the year 2017, the directors do not recommend the payment of a dividend for this financial year after incurring an operating loss after tax of $5,417,885 lower than 2017 loss of $9,756,434. The cash and cash equivalents for the year ended 30 June 2018 of $6,030,108. As at October 25, 2018, the stock traded at a market price of $0.280 which is near its 52-week low and it has witnessed a performance change of 466.04% since the last five years.

NEOMETALS LTD (ASX: NMT) – The company in 1HFY18 has maintained ROE of 5.7% which is broadly in line with the industry average of 6.3%, indicating that NMT has generated returns on the fund and efficiently deployed funds of the shareholders. To meet the working capital requirements, the current ratio stood at 25.40x in 1HFY18, indicating that the company has enough liquidity. The company had cash and term deposits on hand of total A$30.4 million as at June 30, 2018 including $4.1 million in restricted use term deposits supporting performance bonds and other contractual obligations. As at October 25, 2018, the stock traded at a market price of $0.230 which is near its 52-week low and it has witnessed a performance change of 1020.17% since the last five years.


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