Pilbara Minerals Ltd

PLS Details
Progress at Pilgangoora Lithium-Tantalum project: Pilbara Minerals Ltd (ASX: PLS) stock has moved up 9.68% in last three months (as at February 07, 2017). The group confirmed the appointment of Mr Nick Cernotta as an independent non-executive director on board effective February 06, 2017. The group reported for a major progress at Pilgangoora Lithium-Tantalum project in Western Australia as a mining lease M45/1256 has been granted by the WA Department of Mines and Petroleum (DMP). This follows successful completion of steps comprising signing of a Native Title Agreement with Njamal people and an access deed with the pastoral lease-holders within the project area.
 

Project Delivery Schedule (Source: Company Reports)
 
For fast tracking the activities, PLS also placed orders for long-lead items, including a High Pressure Grinding Rolls crusher. We give a ‘Buy’ recommendation at the current price of $ 0.51

 
PLS Daily Chart (Source: Thomson Reuters) 

Galaxy Resources Ltd

GXY Details
Capital Raising: Galaxy Resources Ltd (ASX: GXY) stock slipped about 5.9% on February 08, 2017 while the group announced about the capital raising of A$61 million to accelerate development of the Sal de Vida and James Bay projects. The group has received commitments under private placement from sophisticated and professional investors to subscribe for A$61 million worth of ordinary shares. Particularly, the placement consists of issue of 113 million new fully paid shares at a price of A$0.54 per share. Further, GXY aims to use the proceeds to strengthen the balance sheet along with creating a funding flexibility for aforementioned projects. The group had lately reported that operations were restarted at Mt Cattlin with expanded capacity to generate 100%-owned cash flows in 2017. Revised DFS at flagship Sal de Vida project in Argentina is now found to support low cost and long life project with robust economics. GXY has also confirmed the development team for the project. 

Asset Portfolio (Source: Company Reports)
 
The group now has a diversified project portfolio with hard rock and brine based lithium assets across Australia, Argentina and Canada. We maintain a ‘Hold’ recommendation on the stock at the current price of $ 0.56

 
GXY Daily Chart (Source: Thomson Reuters) 

Altura Mining Ltd

AJM Details
Project construction planned for 2017: Altura Mining Ltd.’s (ASX: AJM) 100% owned Pilgangoora is a world class low cost lithium project located in the Pilbara region of Pilgangoora Western Australia. The group reported for highly accurate (±10%) Definitive Feasibility Study (DFS) completed with construction planned for Q1 2017. Further, strong financials from DFS via delivery of a Life of Mine (LOM) strip ratio of less than 3:1 waste:ore were reported along with high LOM lithium recovery of 80%.
 

Pilgangoora Development (Source: Company Reports)
 
DFS completed in Q3 2016 identified 39.2Mt of resource at 1.02% Li₂O and 20.3Mt of reserves at 1.06% Li₂O. Commencement of onsite construction on approval of Mining Proposal is planned to occur by March 2017. AJM also formed a strategic alliance with one of the largest Chinese battery producers in J&R Optimum Energy. We give a ‘Buy’ recommendation at the current price of $ 0.17

 
AJM Daily Chart (Source: Thomson Reuters) 

Neometals Ltd

NMT Details
First Shipment from Mt Marion: Neometals Ltd (ASX: NMT) recently announced about the inaugural shipment of lithium concentrates produced at the Mt Marion Lithium Project (‘Mt Marion’) in Western Australia. The first shipment of 15,000 tonnes of lithium concentrates were said to have been loaded onto the MV Pacific Venus at the Port of Kwinana and departed to the Zhenjiang Port, China. This is a significant milestone for the group along with its project partners, Mineral Resources Limited (ASX: MIN) and Ganfeng Lithium Co. Ltd (“Ganfeng”). For the quarter ended December 31, 2016, the group had reported for completion of beneficiation plant primary and secondary DMC circuit construction at the Marion Lithium Project. For the group’s Lithium Hydroxide Project, study with Mineral Resources for determining feasibility of producing 20,000tpa LCE Lithium Hydroxide in Eastern Goldfields of WA progressed well. Cash and restricted access term deposits of $61.28 million were reported. We give a ‘Buy’ recommendation on the stock at the current price of $ 0.36

 
NMT Daily Chart (Source: Thomson Reuters) 

Lithium Australia NL

LIT Details
Bid for Lepidico: Lithium Australia NL (ASX: LIT) is the only company worldwide with the ability to process all lithium silicates without roasting, and developed and owns 100% of Sileach™ and LieNa™ technologies. The group is also positioning itself at the low end of cost curve. LIT lately announced for a $23.8 million all-scrip bid for Lepidico (ASX: LPD). LIT announced to offer one share for every 13.25 Lepidico share, representing a 13% premium based on closing prices of both stocks on February 03, 2017. The group recently vouched for 17.76% of fully paid ordinary securities of Lepidico. The stock fell 5.4% on February 08, 2017 while LPD share price was up 12.5%. The latter confirmed that it was not in negotiations with LIT to achieve a merger and urged its shareholders to take no action until the board had time to make a formal recommendation. We maintain a ‘Buy’ recommendation on the LIT stock at the current price of $ 0.17

 
LIT Daily Chart (Source: Thomson Reuters)

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