Magnis Resources Limited
Strategic partnership with Babcock and Wilcox Megtec:Magnis Resources Limited’s (ASX: MNS) stock surged 3.191% on March 20, 2018 after the Group announced about strategic partnership with Babcock & Wilcox Megtec (B&W Megtec) and Charge CCCV (C4V) for enhancing the lithium-ion manufacturing technology. B&W Megtec is a leading global supplier of environmental control technologies and engineered products tailored to meet customer industrial process requirements. The company and C4V have identified B&W Megtec as a leading manufacturer of coating equipment, whose proprietary, double-sided technology will support to provide significant capital and operating cost advantages. Moreover, to ensure the future cooperation, the Strategic Partnership Agreement has been formed between B&W Megtec, Magnis and C4V to deliver project priority, joint marketing objectives, competitive pricing, and technology collaboration and protection. On the other hand, the group’s net loss after tax for the half-year ended 31 December 2017 amounted to $3,144,524 from $5,960,816 in 1HFY17. This loss was also mainly due to expenditure involved in the land valuation procedures and tenement costs for Nachu, consulting, research and development costs involved in Lithium Ion Battery technology.
Recently, the company announced that Frank Poullas changed its holding from 14,442,205 shares of interest to 14,465,695 shares via open market purchase. Meanwhile, the stock has fallen 14.55% in last six months and has been up by 5.62% in last five days as on March 19, 2018. We give a “Hold” recommendation on the stock at the current price of $0.485
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Magnis Battery Technology Roadmap (Source: Company Reports)
Mustang Resources Limited
Positive Updates:Mustang Resources Limited (ASX: MUS) is an Australia-based company engaged in ruby, diamond and graphite exploration in Mozambique, and has lately announced about good drilling results from its Caula Graphite and Vanadium Project in Mozambique. The group incurred a net loss from continuing operation accounting to $16,626,196 in 1HFY18 against $1,159,809 in 1HFY17. During the period, loss increased due to rise in exploration expenditure. Loss per share stood at 2.52 cents per share in 1HFY18 against 0.36 cps in 1HFY17. On balance sheet front, the Group has registered cash at bank of $1,615,229 with working capital surplus of $1,627,125 in 1HFY18. Further, the Group is currently in the exploration and development stage and has not yet developed a commercial mining operation. Furthermore, group’s Caula Graphite project in Mozambique is well on track for first production by mid of 2019. The Caula project represents an exceptional combination of both high-grade and large flakes sizes that differentiate the project from its competitors. The Caula project has delivered a maiden JORC inferred resource of 5.4 Mn tonnes at an average grade of 13% total graphitic carbon (6% cut-off) for more than 700,000 tonnes of contained graphite.
While MUS has fallen 72.2% in last six months based on lower than expected outcomes of its Maiden Tender and other efforts, the stock was up 4.2% on March 20, 2018 at the back latest positive updates. Given the foregoing developments, we put a “Hold” recommendation on the stock at the current price of $0.025
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African Graphite Project’s Peer Comparison (Source: Company Reports)
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