Magnis Resources Ltd (ASX: MNS)

Deal for German Gigafactory: Magnis Resources Ltd.’s stock surged about 5% on October 11, 2017 with improving sentiments. The group has recently signed a deal to develop a 30GWh lithium-ion battery gigafactory with integrated lithium-ion recycling plant in Germany. The agreement is supported by the North Rhine Westphalia government and has been signed in public-private partnership with WIN Emsher-Lippe GmbH that acts on behalf of many companies including petroleum giant BP and other energy companies, few financial institutions, government bodies and economic development entities. Given the latest development efforts and support on gigafactories including the one in New York, MNS stock has been on an upward trend. We maintain a “Buy” on the stock at the current price of $ 0.53

Altura Mining Ltd (ASX: AJM)

Raised funds for stage 2 Altura Lithium Project: Altura Mining Ltd.’s stock plunged over 5.5% on October 11, 2017 while the group got reinstated to official quotation recently. AJM has finished the placement to international institutional and sophisticated investors to raise A$26 million (before costs). They would use these funds for Stage 2 expansion study at the 100%-owned and fully-funded Altura Lithium Project, where Stage 1 construction is on schedule for first lithium concentrate sales in the June Quarter 2018. The group finished half of the project which is fully funded post the recent finalization of the US$110 million senior secured debt facility. AJM stock doubled in this year to date (100% returns as of October 10, 2017) while we maintain a “Hold” recommendation on the stock at the current price of $ 0.25

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