Magnis Resources Ltd

MNS Details

·         Agreement between Huron Campus and the New York Lithium-ion Battery Consortium: Magnis Resources Ltd (ASX: MNS) stock lost 3.9% on May 30, 2017 leading to a total fall of over 11.7% in the last four weeks. The stock seems to be trading on volatility. However, the group updated about a Joint Manufacturing Agreement signed between Huron Campus and the New York Lithium-ion Battery Consortium (including MNS) for a new 15 Gigawatt hour (GWh) Lithium-ion battery manufacturing plant. Meanwhile, the group also said that their current facility and infrastructure would enable them to expedite production of Lithium-ion batteries. Meanwhile, MNS is negotiating offtake deals for Lithium-ion batteries in advance.

·         Recommendation: We maintain a “Buy” recommendation on the stock at the current price of $ 0.60

Sims Metal Management Ltd

SGM Details

·         Weakness in stock sentiment continues: Sims Metal Management Ltd.’s (ASX: SGM) stock fell about 2.2% on May 30, 2017 owing to volatile sentiments across commodity prices. There is a speculation that iron ore consumption in China might be sustained at the back of infrastructure requirements, and this might bring some change in price dynamics. The group had earlier reported NPAT of $80m for the half-year ended 31 December 2016 with revenue from ordinary activities slipping 1.2% from last year.
 
·         Recommendation: The stock is trading at higher levels, and we maintain an “Expensive” recommendation at the current price of $ 13.35

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