4 Lithium Stocks under Spotlight – GXY, KDR, ORE and PLS

  • Aug 16, 2018 AEST
  • Team Kalkine
4 Lithium Stocks under Spotlight – GXY, KDR, ORE and PLS

With lithium prices on the downslide, these four ASX listed stocks remain under spotlight -

Galaxy Resources Ltd (ASX: GXY) is a key lithium player under stock market tips that Australia has seen in last couple of years. Galaxy Resources Ltd has moved up 38.4% in last one year but fell by 24.6% in last six months. The stock was trading at a market price of $2.565 as at August 16, 2018 (11:30 AM AEST), down 2.5%. Galaxy is amongst one of the top battery minerals producers to be shorted on the ASX having more than 13 percent of their registered shares sold short. For an aggregate 45,761 dmt of product sold, a total of 3 shipments of lithium concentrate were completed during the latest quarter. The market capitalization of Galaxy stands over $1 billion.

Kidman Resources Ltd (ASX: KDR) is under metals and mining sector. The stock was trading at a market price of $1.172 and has seen a daily price change of -1% as at August 16, 2018, 11:30 AM AEST. The stock has seen a performance change of 92.68% over the past 12 months. Its refinery under JV, will initially produce solely lithium hydroxide, which is agreed by both Kidman and SQM, and this follows the announcement of JV lithium refinery location. With conversion of KDR options, the company’s cash balance increased by $7.1 million. Kidman’s 50:50 joint venture partner Sociedad Quimica Minera has recently made reference to its focus on Australian project.

Orocobre Ltd (ASX: ORE) is under metals and mining sector and is a production and minerals exploration company with focus on developing Lithium resources in Argentina. The company was trading at a market price of $3.95 with a performance change of 32% over the past 12 months as at August 15, 2018 and a daily price change of -3.4% on August 16, 2018, 11:30 AM AEST. Record 12,470 tons, which is up 5% year on year (YoY), production for fiscal year as at June 30, 2018 was reported. As part of stage 2 expansion program, activities worth US$40 million commenced with the construction of roads, ponds, and camp infrastructure. This expansion will bring ORE’s Olaroz total production capacity to 42,500tpa by adding 25,000 tons per annum (tpa) of lithium carbonate.

Pilbara Minerals Ltd (ASX: PLS) under metals and mining sector, is into Lithium and Tantalum’s exploration and mine development. This ASX listed player traded at a market price of $0.842 on August 16, 2018, with a daily price change of -2% as at 11:30 AM AEST. The stock had risen about 1.78% in last six months but fell about 16% in last one month. It is on track to become a major global lithium producer, with pathway to full production clear and commissioning on track. Construction of the Stage 1 concentrator is largely completed. There is a 36% increase in tonnage and increase in grade to the Pilgangoora Mineral Resource now, and the cash balance is about A$120 million as at June 30, 2018.

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