Material Matters: Copper, Lithium & Closures
A glance through the latest expert views and predictions about commodities. Base metals; cost curves; lithium; and mine closures.
Read MoreTag: GXY
Lithium Producers In A Holding Pattern
Amid a lack of certainty about when lithium prices will improve Australian spodumene producers are continuing to curtail production.
Read MoreGXY – Morgan Stanley rates the stock as Equal-weight
Costs disappointed Morgan Stanley in the December quarter, affected by the DMS trials that were called off. 2020 production guidance is lower than previously outlined.
Read MoreBehind The Lithium Market Meltdown
The stronger-for-longer lithium story is not exactly panning out as such, with a global oversupply emerging and the upbeat blue sky stories supplanted by tales of woe from the emerging producers. The same thing’s happening with that other wonder battery metal, graphite.
Read MoreGXY – Citi rates the stock as Buy
Galaxy Resources has made a strategic equity investment of $22.5m in Alliance Mineral ((A40)). This takes its holding to 12%. Alliance Mineral is currently ramping up the Bald Hill lithium project in Western Australia and has guided to production of 240,000t of spodumene concentrate in FY20.
Read MoreGXY – UBS rates the stock as Buy
Grade, recoveries and production all rose in the December quarter after a weak September quarter. Guidance for 2019 is below UBS forecasts, with the company targeting first quarter spodumene production of 40-45,000t, and 180-210,000t in 2019.
Read MoreGXY – Morgan Stanley rates as Equal-weight
The company has executed a binding agreement with POSCO to sell a package of tenements on the northern basin of Salar del Hombre Muerto for US$280m. Morgan Stanley suggests the deal could add around $0.90 per share to its base case valuation.
Read MoreGXY – Morgan Stanley rates as Equal-weight
A review of Morgan Stanley’s commodity deck has driven upgrades for metals and bulks while earnings estimates for lithium players are reduced. The market cap weighted downside of -6% drives the broker’s industry view to In-Line from Attractive.
Read MoreGXY – UBS rates the stock as Buy
The company has updated the definitive feasibility study for the Sal de Vida project and announced the sale of the northern tenements to help fund its development.
Read MoreGalaxy Finds Solution To Brine Project Funding
Galaxy Resources ((GXY)) has found a neat solution to its funding needs for the Sal de Vida lithium brine project in Argentina, brokers observe. The company has entered a non-binding agreement with POSCO to sell 28% of the Sal de Vida measured and indicated (M&I) resource for US$280m. This will enable Galaxy to largely fund development of the broader portfolio.
Read MoreGalaxy Resources Jumps On Acreage Sale
Lithium miner, Galaxy Resources surprised yesterday by selling off some of its South American acreage, a move the market loved, sending the shares up 18% at one stage in trading before they settled back to close the day 14.3% higher at $3.42.
Read MoreLepidico Lures Investors Into A New Galaxy Where Lithium Is Free
No one much cared earlier this year when there was a particularly nasty takeover battle between Lithium Australia (LIT) as the suitor and Lepidico (LPD) as the target.
Read MoreLithium Play Galaxy Hits 8-year High On Q3 Numbers
Shares lithium producer Galaxy Resources surged and sagged yesterday in the wake of the release what was on the whole an encouraging production report for the three months to September.
Read MoreGXY – Macquarie rates the stock as Outperform
First half loss of $6.5m compares with Macquarie’s expectations for break-even. The result represented two months of commercial production from Mount Cattlin.
Read More