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Compared to Aussie peers A11 has a long way to go. Can't wait for ASX listing, A11 has now also its own thread on hotcopper.
I never had problems to trade IRR/ALL, but I guess there are many Oz traders who wouldn't touch AIM traded stocks. Every single one of those will help that our listing day will be a memirable one.
SOLG not mentionned, but should be there in big fat lettets.......
Garimpeiro doubts BHP (ASX:BHP) chief executive Mike Henry takes much notice of his mumblings. But you’ve got to wonder.
Just three weeks after Garimpeiro mentioned that the copper stocks were over-sold, Henry lobbed an $8.3 billion takeover bid for OZ Minerals (ASX:OZL).
The spurned offer was a pitched at $25 a share – a 32% premium to OZ’s share price on the day of the offer (August 5).
That allowed BHP to present the offer as being generous. OZ has other ideas, with BHP now having to decide to increase the offer or walk away.
Whatever the outcome, BHP’s initial attempt to snatch OZ was opportunistic in the extreme.
It sought to take advantage of the over-sold situation in copper stocks in response to earlier general equity markets weakness due to global interest rates/economy fears, and the accompanying commodity price retreat.
Copper fell to low as $US3.17/lb in mid-July. That was down from the FY2022 average of $US4.37/lb. So copper stocks like OZ should have been feeling some pain.
But the pain was over-done, leading to Garimpeiro’s call at the time that the copper price was set to rally, and that copper stocks would bounce back. The argument was that copper’s key role in global decarbonisation had not gone away and if anything, it was accelerating.
Copper has since rallied to $US3.61/lb and there has been no better confirmation that the copper stocks had been over-sold than BHP’s attempt to snare OZ for a 32% day one premium or $8.3 billion (OZ is now trading well ahead of the bid price in anticipation of a higher offer).
Copper price year-to-date.
BHP is a super bull on copper’s outlook.
Apart from the OZ tilt, this week’s commodity outlook report accompanying BHP’s FY2022 said as much.
BHP said a “durable inducement pricing regime’’ is expected to emerge from the mid–to–late 2020s for copper, with a “take–off” in demand from renewable power generation, the electrification of light duty transport, and the infrastructure that supports them both, expected to be a key feature of industry dynamics.
“Looking even further out, long–term demand from traditional end–uses is expected to be solid, while broad exposure to the electrification mega–trend offers attractive upside. Grade decline, resource depletion, water constraints, the increased depth and complexity of known development options and a scarcity of high–quality future development opportunities are likely to result in the higher prices needed to attract sufficient investment to balance the market,’’ BHP said.
Sounds like a good reason to try your hand with an $8.3bn bid for a company like OZ that expects to more than double
Lithium producers in China’s Sichuan province are suspending production due to the power crunch
VP Capital’s John So says lithium prices may surge 10% in the next few weeks
All your ASX lithium news for Thursday, August 18.
The lithium sector can’t seem to catch a break with China’s heatwave now expected to cause further havoc on the supply chain.
DGR has just invested 4.5 Mio AUD into Armour Energy. NM made a lot of money in O & G and that's where his main focus is right now. He left the IRR board a while ago and might be voted off the SOLG board soon. I don't think DGR will add more funds to their SOLG investment. I am pretty sure Lakes Oil, Armour and DGR Uganda will see additional funding.
I was also heavily critisized when I mentionned that some lit stocks on ASX have rebounded.
I will say now that some lit stocks have rebounded even more. Just saying.
I see ALL back to 40p very soon/imminent. Team were @ DD in Kalgoorlie.
https://hotcopper.com.au/threads/ann-investor-update-noosa-mining-conference.6852682/
From Yahoo finance this morning
Of note lithium stocks continue to outperform as the demand /supply dynamic continues to play out despite volatile equity markets. Data from the Shanghai Metals Market showed that demand for battery grade lithium carbonate increased during July as downstream battery factories and auto manufacturers increased their operating rates. At the same time, battery producers reported lower inventory readings as raw material purchases were not able to keep up with battery output.
The higher output followed the rewarding of cash subsidies by local Chinese governments for consumers replacing petrol cars with new EV purchases. The measures were placed to revamp activity in the sector after demand for durable goods plummeted during the strict Covid lockdowns, in addition to contributing to China’s goal of cutting carbon emissions.
Of course Australia is set to maintain its dominance in mined lithium production this decade, as supply is set to double by 2030, data from Benchmark’s Lithium Forecast shows we are set to mine nearly half of the world’s lithium this year.
Lithium stocks in the US followed the strong lead on the ASX yesterday – it will be interesting to watch whether a short squeeze plays out in the sector if markets continue to rally.
From Bloomber g
Halting Car Emissions
European Union countries endorsed a push to eliminate carbon emissions from new cars by 2035, effectively heralding the end of the era of the internal combustion engine. Environment ministers struck a deal on the proposal after Italy, home to Ferrari and Automobili Lamborghini, gave up demands for a five-year delay in the EU’s plan for automakers to clean up their fleet. The agreement defines member states’ negotiating stance for further talks with EU lawmakers on the final shape of a landmark greenhouse gas-reduction package. With EU lawmakers in favor of giving up fossil fuels in the auto industry, it’s highly likely that most car companies will have to shift to producing electric models in little more than a decade.
Here in Oz many lithium cos had a great day. LLL listed on Thursday and had a couple of bad days. Also west african, it might be worthwhile following just to get a feel for the overall market sentiment. The Core's, Vulcan's, Liontown's rebounded strongly.
The one still suffering is PLL for obvious reasons. We want to have a strong partner not a wounded game.
It is actually hard to keep focus, but with ALL's RNS today, I just took a deep breath, regained focus and told myself what a fantastic opportunity ALL presents to us.
Today I sold my other lithium play and added a few more here.
Focus, focus, focus.