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Highlights:
- Graphite is an essential commodity which is widely used in our day-to-day lives.
- Graphite is used to make batteries that can serve the rising electric vehicle market.
Graphite is a significant commodity whose application can be widely found in our daily lives. This material is used in various items such as pencils, lubricants, polishes, arc lamps, nuclear reactors, graphene sheets and others.
Graphite is also a good conductor of heat and electricity. As a result, it is used in electrical devices such as electrodes, solar panels, batteries, etc. These days, graphite is in high demand because of the rising market of electric vehicles that run on batteries instead of fuel.
Here in this article, we have primarily discussed three ASX-listed graphite stocks and their performance on ASX: Renascor Resources Limited (ASX:RNU), Novonix Limited (ASX:NVX), and Magnis Energy Technologies Ltd (ASX:MNS).
Renascor Resources Limited (ASX:RNU)
Shares of Renascor Resources Limited (ASX:RNU) were trading in the red on ASX during Wednesday’s trading session. The company’s share price came down by 2.999% on ASX to AU$0.242 per share at 11:21 AM AEDT today.
With a market capitalisation of AU$545.07 million, Renascor is an ASX-listed mining company dealing with the exploration and development of graphite, uranium, copper, gold and other materials. Renascor’s headquarter is in Kent Town, Australia.
On 31 October 2022, Renascor released its quarterly activity report for the period that ended 30 September 2022. Some key highlights of the company’s September quarter report are as follows:
- During the September quarter, Renascor has successfully secured a site from the South Australian government-owned SA water for its proposed state-of-the-art Battery Anode Material (BAM) Manufacturing Facility.
- Renascor also said that its JORC Mineral Resource estimate for the Siviour Graphite Deposit was updated by independent mining consultants Snowden Optiro in the same quarter.
- During the given period, the company signed an access and option agreement that will allow it to explore an area including the north-western extension of the Siviour Inferred Resource and other areas immediately adjacent areas of the existing Mineral Resource.
- At the end of the September quarter, Renascor reported a cash balance of around AU$71 million.
Meanwhile, Renascor’s share price has appreciated by almost 86% on ASX in the last 12 months and on a YTD basis, the company’s share price gained over 34% on ASX (as of 11:35 AM AEDT today).
Novonix Limited (ASX:NVX)
Image source: © Timonschneider | Megapixl.com
Shares of Novonix Limited (ASX:NVX) were trading in the red zone during the morning trading hours on Wednesday. The company’s share price fell by 2.032% on ASX to AU$2.410 per share at 10:57 AM AEDT today.
With a market capitalisation of AU$1.19 billion, Novonix is an ASX-listed battery materials and technology company. Novonix’s headquarters is in Queensland, Australia.
Today Novonix announced that it would open a new cathode technology facility for its new pilot production of cathode materials.
The pilot production will take place in Novonix’s newly opened facility of 35,000 square feet, which will leverage the company’s all-dry cathode synthesis technology to pilot its patent-pending technology for material production. Novonix will primarily target the rising electric vehicle (EV) and energy storage sector through this project. The expected production target at the new facility is 10 tonnes per annum.
Meanwhile, the share price of Novonix has declined by 74.4% on ASX in the last 12 months and on a YTD basis, the company’s share price came down by almost 77% on ASX (as of 11:09 AM AEDT today).
Magnis Energy Technologies Ltd (ASX:MNS)
Image source: © Pasiphae | Megapixl.com
Shares of Magnis Energy Technologies Ltd (ASX:MNS) were buzzing in the green territory on ASX on Wednesday morning. The share price of Magnis gained by 2.666% on ASX to AU$0.385 per share at 11:33 AM AEDT today.
With a market capitalisation of AU$363.87 million, Magnis is an ASX-listed graphite and battery material development company. The headquarter of Magnis is in Sydney, Australia.
On 31 October 2022, Magnis came up with the quarterly activity report for the quarter that ended 30 September 2022 (September quarter).
Some of the key highlights of Magnis’ September quarter report are:
Image Source © 2022 Kalkine Media ®
Data Source- company announcement dated 31 October 2022
In the last one year, Magnis’ share price has declined by almost 47% on ASX and on a YTD basis, the company’s share price fell nearly by 32% on ASX (as of 11:33 AM AEDT today).
Meanwhile, the S&P/ASX 200 Materials sector (INDEXASX:XMJ) was quoted at 16498.2 points, up by 2.136% or 345 points on ASX at 12:22 PM AEDT today (9 November 2022).
