Magnis Resources Ltd

MNS Details

Binding Sales Agreements for NY Gigafactory:Magnis Resources Ltd (ASX: MNS) announced about the Battery Binding Sales Agreements for NY Gigafactory between Imperium3 NY and a number of end users amounting to 40% of the planned first year’s 3GWh of production. MNS is one third owner of the NY consortium. Overall, the developments indicate for strong end-user interest. The recent announcement by Queensland Premier Annastacia Palaszczuk for a A$3.1M funding towards the feasibility study for the Townsville Lithium-ion battery Gigafactory is also a positive one. The grant is dependent upon the re-election of the government though. Moreover, funding discussions are on-going with strong support and assistance coming in from local and state government members along with the private sector. Meanwhile, MNS stock has risen 25.61% in last three months as on November 14, 2017. Given the potential, we put a “Buy” recommendation on the stock at the current price of $0.515



MNS Daily Chart (Source: Thomson Reuters)
 

Beach Energy Ltd

BPT Details

Sector driven drag:Beach Energy Ltd.’s (ASX: BPT) director James David Mckerlie was recently noted to have disposed-off 100,000 fully paid ordinary shares while the group advised that Ms Fiona Bennett will retire at the annual general meeting to be held in November 2017. Moreover, the company has advised that resolution 2, which was for the re-election of Ms Bennett as a director, has been withdrawn from the 2017 notice of annual general meeting announced in October 2017.
 
A sell-off in the energy and materials sector (with lower prices of oil and metals) including BPT led the stock plunge by 3.6% on November 15, 2017. Particularly, International Energy Agency has slashed oil demand growth forecast by 100,000 barrels per day for 2017 and 2018.
 
On the other hand, BPT had lately updated the market about discovery of new gas at Lowry-1, that validates the phase 1 expansion of the Middleton facility from 25 MMscfd to 40 MMscfd. Further, the success of gas drilling at Crawford-1 has confirmed extension of the Brownlow Field and there is an expectation of reserve additions. The third Cooper Basin JV drilling rig has commenced with success at the Namur-5 gas appraisal well. Meanwhile, BPT stock has risen 75.46% in three months as on November 14, 2017 and is trading at a low price to earnings level. Given the recent trading scenario, we put a “Hold” recommendation on the stock at the current price of $1.065



BPT Daily Chart (Source: Thomson Reuters)

Independence Group NL

IGO Details
 
Final Grapple Diamond Drilling Results:Independence Group NL (ASX: IGO) also witnessed a loss of 4.5% in stock price on November 15, 2017 owing to drop in metal prices. Otherwise, IGO confirmed 800m of plunge extent of mineralization as a 6-hole 2,917 metre diamond drilling program was completed at the Grapple Prospect. The only exploration completed to-date is limited to EL24915, that represents only 4% of the project area. For 2018, the program has the potential to rapidly and cost effectively identify additional Grapple and other style targets on the remainder of the Lake Mackay Project. Meanwhile, IGO stock has risen 41% in six months as on November 14, 2017. With some amount of weakness creeping in, we give a “Hold” recommendation on the stock at the current price of $4.25



IGO Daily Chart (Source: Thomson Reuters)
 

Lepidico Ltd

LPD Details
 
Well-Funded for future: Lepidico Ltd (ASX: LPD) has indicated that it is well funded with proforma cash of A$8.3M and no debt. Further, the group’s Pre-Feasibility Study has shown the economic potential to construct the Phase-1 L-Max process facility in Ontario, Canada. LPD has raised A$7 million in October/November to fund the completion of Feasibility Study. Additionally, Galaxy Resources has taken about 12% strategic holding in LPD and is working with the group for commercialization of LPD’s technology. The two groups would also evaluate technology synergies with Galaxy’s Mt Cattlin mine and James Bay project.
 

LPD’s Mineral Resources (Source: Company Reports)
 
Meanwhile, LPD stock has risen 162.50% in last one month as on November 14, 2017 and was up 7.9% on November 15, 2017. Based on the foregoing trading scenario and the potential with first production projected for late 2019 from Phase 1 L-Max Plant, we give a “Hold” recommendation on the stock at the current price of $0.068



LPD Daily Chart (Source: Thomson Reuters)

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