Perth-based Mineral Resources (ASX:MIN) will spend up to $15 million buying Poseidon Nickel's Lake Johnston nickel concentrator plant and mining rights, using it as the basis for a new lithium processing hub.
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Perth-based mining giant Mineral Resources (ASX:MIN) unveiled its disappointing financial performance for the December half-year in a late Wednesday evening release, catching markets off-guard after hours. The company reported a substantial 28% decline in underlying EBITDA to $674.9 million, coupled with an alarming 83% reduction in the final dividend, slashed to 20 cents per share from $1.20 per share in the same period in 2022.
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In a show of confidence from investors, Mineral Resources (ASX:MIN) has increased its US bond offering to $1.1 billion from the original $850 million and successfully sold the entire offering.
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Five days ago, Perth-based Mineral Resources (ASX:MIN) issued a comprehensive update on its various mines and prospects in Western Australia, particularly in lithium and iron ore.
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The underlying rationale for the divorce between Albemarle and Mineral Resources (ASX:MIN) has now become apparent.
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Mineral Resources (ASX:MIN) witnessed a 7% upsurge in the value of its shares yesterday, attributed to a substantial dividend increase that counterbalanced a write-down in the valuation of select iron ore assets.
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Mineral Resources (ASX:MIN), led by CEO Chris Ellison, has made a strategic decision to forego its plan of constructing lithium hydroxide refineries in China. Instead, the company is shifting its focus to producing a lithium sulphate product in Australia. According to Mr. Ellison, the returns from this new approach justify avoiding the costs and risks associated with moving fully downstream into battery chemicals in China.
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Mineral Resources (ASX:MIN) has fallen short of its lithium export targets from the Wodgina mine in Western Australia, which it operates in partnership with Albemarle, a New York-based company.
Read MoreThere’s an enormous chance for Australian miners to get global scale by positioning themselves to buy mines Newmont wants to flick after it takes control of Newcrest.
Read MoreA weak March quarter update from Mineral Resources Wednesday saw the shares fall almost 10% after the company dropped full-year production guidance by up to 12.5%.
Read MoreUS lithium giant Albemarle looks to have again successfully deflected the lithium processing ambitions of Mineral Resources, although MinRes CEO Chris Ellison doesn’t seem to realise it yet.
Read MoreDespite their share prices falling on a rough old Monday for the ASX, both MinRes and Gold Road were spreading good cheer about their respective operations.
Read MoreMarket talk that Mineral Resources has been mulling the spinoff of its lithium operations has led to speculation that the high-grade business could in fact be a target for another company with ambitions in the area.
Read MoreRio Tinto has joined Mineral Resources in getting into bed with the world’s biggest steelmaker, China Baowu Steel Group, to develop small projects in WA’s Pilbara region.
Read MoreShares in WA mining groups Northern Star and MinRes fell yesterday, with neither’s result convincing enough for jumpy traders on a day that saw the market sold off heavily.
Read MoreThe accelerating boom in demand for lithium has seen Mineral Resources agree to boost output from its joint-owned Wodgina and Mount Marion spodumene mines in WA.
Read MoreAs its iron ore earnings suffer a major hit, Perth-based miner and services company Mineral Resources has announced its plans to push further into the lithium space.
Read MorePlenty of news from the resources sector on Tuesday, here are the details of key announcements made by Gold Road Resources, Mineral Resources, Pilbara Minerals and Oil Search.
Read MoreMineral Resources and its huge US partner Albermarle have bowed to the inevitable and will re-open the lithium mine they own in the Pilbara and an associated processing plant at Kemerton.
Read MoreThe 2021 commodities boom emerged nicely in the annual results of Mineral Resources yesterday, as the lithium and iron ore player beat expectations and announced a fully franked $1.75 dividend.
Read MoreResource stocks surged on the ASX in Monday trading with some of the majors and the broader market reaching new highs thanks to record iron ore and copper prices.
Read MoreMineral Resources has rights to new onshore exploration blocks in the Perth Basin and Pilbara. Macquarie maintains an Outperform rating. Target is $50.
Read MoreUBS expects MIN’s mining services business to grow to circa 860mt contract tonnes by end of 2022 from 429mt in 2019 led by growth in internal and external business. The broker retains a Buy rating with the target rising to $44.50 from $44.
Read MoreSolid results from two mid-tier miners yesterday in Northern Star and Mineral Resources which confirm the boom is not limited to megaminers such as BHP and RIO.
Read MoreAs predicted in yesterday’s edition, Wednesday’s surge in world iron ore prices to seven-year highs saw the prices of Australia’s major miners jump sharply on Thursday.
Read MoreOZ Minerals enjoyed the surge in gold prices to June 30 more than the more sedately performing price of copper in the six months to June 30 while Perth-based Mineral Resources can thank a major asset sale, along with the rise in iron ore prices for its sharp rise in statutory profit for the year to June 30.
Read MoreWith negative rhetoric surrounding Australia’s trade relationship with China, what is the outlook for Australia’s iron ore miners?
Read MoreA glance through the latest expert views and predictions about commodities. Indonesia; Australia; and zinc.
Read MoreBega Cheese was “dressed” to win yesterday, a burst of enthusiasm for Mineral Resources ran out of puff, while Securities in Dexus went into a trading halt on reports it was looking to raise around $1 billion.
Read MorePerth-based Mineral Resources is looking to raise $US750 million ($A1.05 billion) in new debt as it looked to restructure some existing loans and replenish its cash reserves as it pushes ahead with its huge Wodgina lithium processing plant in the Pilbara with US lithium giant, Albermarle.
Read MoreAccording to CEO Chris Ellison, Mineral Resources is going to suffer before things get very much better from a big expansion plan set in train in the past year in lithium in particular.
Read MoreOne small point seems to escaped the market amid all the enthusiasm yesterday for Mineral Resources shares after its $1.6 billion sale of 50% of its Wodgina project to US lithium giant, Albemarle and that was the quiet earnings downgrade for 2018-19.
Read MoreMineral Resources has confirmed a new JV with Albermale – the world’s largest producer of battery raw material lithium – to develop its Wodgina hard rock lithium mine.
Read MoreAnd still on Mineral Resources, it is intriguing that the company buried what amounts to a small earnings downgrade in an update last Friday about its lithium mining at Wodgina in the Pilbara area of WA.
Read MoreShares in Mineral Resources hit a six week high yesterday after the company revealed that it is looking to bring in a minority partner to fund the processing of lithium ore from its Wodinga project in Western Australia’s Pilbara region.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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