Galaxy Resources Limited

GXY Details
· Production begins at Mt Cattlin: Galaxy Resources Limited (ASX: GXY) stock rose 8.5% on December 08, 2016 at the back of sector-driven positive market sentiments and group’s update that Mt Cattlin began 24-hours production and trucking of the product to the port. The aim is to produce a lithium concentrate of 5.5% Li₂O grade with a less than 5% mica concentration. The product remains on specification. The trucking of the Mt Cattlin product to Esperance Port began on December 05, 2016. The company will also conduct short-term production tests with scheduled maintenance shutdowns to ensure for sustained reliability through continued ramp-up to name plate production.

· Recommendation: GXY stock has surged 42% in the last one month (as of December 07, 2016); and given the prospects, we maintain a “Buy” recommendation at the current price of – $ 0.51

 

Coarse Product and Truck Loading (Source: Company Reports) 

Orocobre Limited

 
ORE Details
· Divestment of lithium brine exploration projects: Orocobre Limited (ASX: ORE) stock rose over 4.7% on December 08, 2016 with some positive market sentiments on the lithium producer. Recently, the group announced for divesting a number of lithium brine exploration projects held through Orocobre’s Argentine subsidiary South American Salars SA (SAS) to Canada’s Advantage Lithium Corp. The parties have executed a Letter of Intent (LOI) under which Advantage Lithium was to issue to Orocobre about 40,622,200 common shares worth US$37 million in consideration for the acquisition of the exploration projects. Orocobre and Advantage Lithium are also said to enter a 50/50 joint venture for the more advanced Cauchari Project.

· Recommendation: ORE stock surged about 14.9% in the last one month (as of December 07, 2016), and is trading at high levels. We give an “Expensive” recommendation at the current price of – $ 4.27

BrainChip Holdings Limited

BRN Details
· Clarifications on market news article: BrainChip Holdings Limited (ASX: BRN) stock rose over 2.3% on December 08, 2016 as the group provided clarifications on an article by Australian Financial Review on ‘Artificial Intelligence firm BrainChip wins Casino and Anti-Terrorist Deals’. BRN clarified that it did not specifically stated about unveiling a range of new clients. The group is under discussions and only anticipates additional commercial agreements in casino gaming, civil surveillance and visual inspection, and there is no guarantee that the discussions will materialize into agreements. Many other information pieces in the article were also said to be not in line with the scope of information disclosed by the group. As of now, BRN has signed an agreement with the Cisco Internet of Everything Innovation Centre to demonstrate BrainChip’s SNAP technology.

· Recommendation: BRN stock surged about 72% in the last three months (as of December 07, 2016), and is trading at slightly high levels given the prospects. We give an “Expensive” recommendation at the current price of – $ 0.22

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