Here’s the list of 3 mining stocks that have closed the day’s session in red (on 18th April 2019):
Galaxy Resources Limited (ASX: GXY)
Galaxy Resources is a metals and mining company which has a primary focus on exploration and production of Lithium concentrate. The company operates various projects including Mt Cattlin spodumene project, Sal de Vida project etc. On the same day, it announced the successful closing of a sale of a lot of tenements in the north of the Salar del Hombre Muerto to POSCO for US$280 million. The financial position of the company is quite strong, having US$285 million in cash and liquid assets, zero debt in the balance sheet and strong cash flow from Mt Cattlin. In the annual report of 2018, It reported total revenue of US$153.9 million, cash margin of a US$424/dmt sol, realised average selling price of US$927/dmt sold; all of them increased from the year 2017.
The market capitalisation of the company is A$753.92 million. The 52-week high and low of the stock is A$3.66 and A$1.52 respectively. The stock closed the session at A$1.635, down by 11.6% from the previous closing. The share price of the company has decreased by 15.53% this year.
Orocobre Limited (ASX: ORE)
Orocobre is in the mining sector which aims to develop Lithium/Potash resources in Argentina. The company is currently aiming at exploring and developing the operationa of Borax Argentina S.A and Olaroz Lithium Facility. On 18th April 2019, the company announced the PFS study at its Cauchari JV (25% interest) would be carried out by WorleyParsons Chile S.A, which was engaged by Advantage Lithium Corp. Orocobre owns 33.5% of Advantage Lithium’s issued capital. In the March 2019 quarterly report, the company reported the production of 3,075 tonnes from Olaroz Lithium Facility which was 10% up from prior corresponding period. Quarterly sales revenue stood at US$33.4 million, and gross cash margins of US$5,258/tonne were reported.
The market capitalisation of the company is A$938.9 million. The 52-week high and low of the stock is A$6.4 and A$2.91 respectively. The stock closed the session at A$3.337, down by 6.13% from the previous closing.
Pilbara Minerals Limited (ASX: PLS)
Pilbara Minerals is one of the few billion-dollar mining companies on ASX. It is primarily focused on Lithium-tantalum. The company owns 100% of the Pilgangoora Lithium-Tantalum Project, and it aims to become one of the world’s largest lithium raw materials producers. On 5th April 2019, the company announced a new issue of 2,742,000 ordinary fully paid shares which will rank equal to the existing shares. The issue is floated after exercising 2,742,000 unlisted options with an exercise price of $0.40. Recently GFL International Co. Limited became a substantial shareholder in the company by acquiring 77,663,071 shares on 26th March 2019, taking the total shareholding to 152,605,323 shares which accounts for 8.37% voting rights.
The market capitalisation of the company is A$1.28 billion. The 52-week high and low of the stock is A$1.125 and A$0.57 respectively. The stock closed the session at A$0.660, down by 4.35% from the previous closing.
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