Magnis Resources Ltd

MNS Details
·         Granted Special Economic Zone Licence: Magnis Resources Ltd (ASX: MNS) stock rallied over 10.6% on April 05, 2017 partly owing to overall improved sentiments on resources sector. The group was granted a Special Economic Zone License for the development of an advanced graphite processing plant in Tanzania. This would allow the company to apply the advanced technologies it has been developing to produce value enhanced graphite products. Moreover, there are significant financial benefits involved within the Special Economic Zone.
 
·         Recommendation: MNS stock fell over 34.30% in the last six months (as of April 04, 2017) placing them at reasonable levels. We give a “Buy” recommendation at the current price of – $ 0.62

Western Areas Ltd

WSA Details
·         Cosmos Odysseus Pre?feasibility Study: Western Areas Ltd.’ (ASX: WSA) stock surged over 4.5% on April 05, 2017 with sector driven movement. WSA has announced the results from the Cosmos Odysseus Pre?feasibility Study (PFS), that shows the commercial viability ofthe Odysseus Project and the potential re?start of nickel mining operations at Cosmos. After the successful completion of the PFS, the WSA Board has approved the Project to progress to the Definitive Feasibility Study stage.
 
·         Recommendation: WSA stock fell over 22.4% in the last six months (as of April 04, 2017) and we give a “Buy” recommendation on the stock at the current price of – $ 2.32


Project Metrics (Source: Company Reports)

Galaxy Resources Ltd

GXY Details
·         Management changes: Galaxy Resources Ltd.’s (ASX: GXY) stock surged around 7.23% on April 05, 2017 after the company announced about appointing its new Chief Financial Officer. GXY has appointed Mr Alan Rule as its Chief Financial Officer starting from April 10, 2017. Meanwhile, the company reported that they are in discussions with offtakers and strategic partners for the Sal de Vida project. There is production ramp up while lithium offtake for 2017 contracts have been negotiated for Mt. Cattlin project. The revised Definitive Feasibility Study is expected to commence shortly for James Bay project.
 
·         Recommendation: GXY stock rose over 13.7% in the last six months and slipped 25.2% in last three months (as of April 04, 2017); and is now trading at a low level. We give a “Buy” recommendation at the current price of – $ 0.44

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