Bowen Coking Coal Limited (ASX: BCB)

BCB is a mineral exploration company with a portfolio of coking coal assets. Its projects include the Broadmeadow East Coking Coal Project, Isaac River Coking Coal Project, Cooroorah Coking Coal Project, and Hillalong Coking Coal Project.

Financial and Operational Updates: On 4^th March 2022, BCB received its formal approval from the Queensland State Government to amend the project’s existing Environmental Authority and earlier received Mining Lease, which now enables the company to commence mining operations on site. On February 28, 2022, Regal Funds Management Pty Ltd (RFM) became a substantial shareholder with ~6.34% of voting rights. On the other hand, Nicholas Jorss ceased to be substantial shareholder with ~4.34% holdings as announced on February 25, 2022. Further, M Resources Pty Ltd and Matthew Latimore has reduced voting rights to 11.95% (from 14.16%).

Technical Analysis: BCB moved up significantly in the past two weeks after the stock took support of the downward sloping trend line at AUD 0.18 on 22^nd February 2022. On a daily chart, currently the stock made a fresh 52-weeks high today and the stock took the resistance of the upward sloping trend line indicating profit booking occurs at resistance levels. The momentum oscillator RSI (14-period) is trading at ~71.67 level is moving at overbought zone and forming a negative divergence, indicating a bearish momentum for short-term.

Stock Recommendation: Over the past two weeks, the stock has provided a positive return of ~44.7% and is trading at 52-week high levels. Since the stock is facing a stiff resistance and after considering the return it has provided to the shareholders, it is prudent to ‘Sell’ the stock and book profit at the closing market price of AUD 0.280 per share, up by ~5.660%, as of 04^th March 2022.

Daily Technical Chart – BCB

Source: REFINITIV

Piedmont Lithium Inc. (ASX: PLL)

PLL is an exploration company focused on lithium projects in North Carolina, USA. It develops battery-grade lithium hydroxide and other chemical essentials to the electric vehicle and battery storage markets in the United States.

Financial and Operational Updates: As announced on 4^th March 2022, PLL will be removed from S&P/ASX 300 Index, effective on 22^nd March 2022. Its partner Sayona’s Quebec Lithium resources base doubled its estimate to 119.1 [email protected]% Li₂O and enhanced its leading position in North America’s lithium market. It closed its accounts ending 30^th September 2021 with a cash balance of ~US$81.95 million.

Technical Analysis: PLL moved up in the current week after the stock price broke the resistance level of AUD 0.705 on the upside. On a daily chart, currently the stock made a three-week high level, and the prices took the resistance of the downward sloping trend line indicating profit booking occurs at resistance levels. The momentum oscillator RSI (14-period) is trading at ~65.49 level is moving near to overbought zone, indicating a possible downside correction in the short-run.

Stock Recommendation: Over the past two weeks, the stock has provided a positive return of ~15.9% and is trading at three weeks high levels. Since the stock is facing a stiff resistance of the downward sloping trend line and after considering the return it has provided to the shareholders, it is prudent to ‘Sell’ the stock and book profit at the closing market price of AUD 0.800 per share, up by ~6.666%, as of 04^th March 2022.

Daily Technical Chart – PLL

Source: REFINITIV

Note 1: The reference data in this report has been partly sourced from REFINITIV

Note 2: Investment decisions should be made depending on the investors' appetite for upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the analysis has been achieved and is subject to the factors discussed above alongside support levels provided.

Disclaimer - This report has been issued by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and prepared by Kalkine and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine.

Any advice provided in this report is general advice only and does not take into account your objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine reports. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product.

You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice in this report or on the Kalkine website. Not all investments are appropriate for all people.

The information in this report and on the Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its reports, newsletters and websites. All information represents our views at the date of publication and may change without notice.

Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this report, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law, to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

On the date of publishing this report (referred to on the Kalkine website), employees and/or associates of Kalkine and its related entities do not hold interests in any of the securities or other financial products covered on the Kalkine website unless those persons comply with certain safeguards, procedures, and disclosures.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.