Investors forget, prior to Covid back when the Lithium Carbonate price traded at $10,000 per tonne, Ioneer’s share price was $0.18. this was possibly the fair price for an ‘Asset’ in the ground that still had many hurdles to jump over to get through to production.
fast forward 4-5 years, and punters who have little understanding around what Ioneer have achieved are suggesting we are seeing fair value at $0.23.
A few points of interest:
- Ioneer’s have received 2 of the 3 required permits to start mining since they were $0.18 pre Covid.
- They have received a conditional debt facility from a U.S. government department of US $700million.
- They have an experience project partner committed to providing US $490million in equity.
- They have $60 million in the bank
- They have worked the the various government bodies to ensure the survival of an endangered species of plant.
- They have premium off-take partners in the form of Ford motors and SK innovation.
- Their mine life is now over 100years and the southern pit Is open in every direction. They also have the Northern asset.
The list goes on, and yet 5 years later you only have to pay $0.05 more to buy shares in the company. Logic has been thrown out the door through excess speculation and punters trying to make a quick $.
lastly, the guys that get on here and bang the drum about increased mining costs of 30%, yep that’s true. However you forget to mention that modelling for INR’s NPV assumes a Lithium Carbonate price of US $12,000 while even after its drop it’s still US $30,000 per tppy onne. That’s an almost 300% increase on what INR used for their NPV some years ago.
If you were happy to buy 5 years ago at $0.18 with none of the pre-stated achievements mentioned, then it would be difficult not to want to buy them now IMO.
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Last
14.0¢ |
Change
-0.010(6.67%) |
Mkt cap ! $327.2M |
Open | High | Low | Value | Volume |
15.0¢ | 15.5¢ | 14.0¢ | $195.0K | 1.346M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
25 | 1057942 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 431506 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
24 | 1047942 | 0.140 |
21 | 1751666 | 0.135 |
18 | 1386326 | 0.130 |
5 | 1082000 | 0.125 |
12 | 672825 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 431506 | 6 |
0.150 | 235594 | 4 |
0.155 | 391808 | 9 |
0.160 | 524263 | 8 |
0.165 | 351085 | 6 |
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