Admittedly with my limited knowledge of lithium stocks, those that I've looked at, the pegmatite does seem to be down quite deep, so to me moving a heap of dirt seems to be part of the game. In GL1's case it may be more than others, but as it expands its drilling to the north east it perhaps may find mineralisation that is closer to the surface thus making the run of mine costs cheaper. Hopefully in a few months there will be some early indicators.
In terms of the capex and the raising of $430m, it does not necessarily have to be through share issue and thus dilution. There may be battery manufacturers such as SK from Korea (have an MOU with GL1), who are willing to make available a loan for first access to the lithium and the loan repaid through profits once the mine is in production.
The other possibility is that GL1 does not get to the capex raising stage if it is taken over by a bigger entity. The share trading the last few weeks in GL1 seems to be determined to keep it in a tight range predominantly between $1.50 and $1.60. If this is happening, I would speculate that perhaps it's to make a a $2.25 takeover offer attractive (my wishful thinking).
I think the CATL proxy would be willing to take that price as CATL is using funds to buy up struggling Chinese lithium miners in order for them to get the lithium for less than 100,000 RMB per tonne https://cnevpost.com/2023/03/08/catl-takes-over-chinese-lithium-miner-sinuowei/. I personally would love to see CATL's proxy off the register, as the agreement seems to be for CATL to get 30% of the mineral at 'market price', which I take to mean whatever the prevailing price is in the Chinese market. Basically, CATL wants to screw miners in order to benefit its Chinese car maker mates https://cnevpost.com/2023/03/10/catl-confirms-its-negotiating-new-prices-with-ev-makers/.
- Forums
- ASX - By Stock
- Ann: Manna Delivers Increased Exploration Upside
Admittedly with my limited knowledge of lithium stocks, those...
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
AVH
Avita boosts skin restoration product portfolio with 'dermal matrix' – a kind of next-level gauze made of fake skin
GML
Gateway Mining sells WA Eastern Montague gold project to Brightstar for $14M – half of that in shares
Add GL1 (ASX) to my watchlist
|
|||||
Last
26.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $69.05M |
Open | High | Low | Value | Volume |
27.0¢ | 27.5¢ | 26.0¢ | $84.77K | 315.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2040 | 26.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.0¢ | 7492 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 10000 | 0.260 |
4 | 172035 | 0.255 |
10 | 510954 | 0.250 |
3 | 274000 | 0.245 |
4 | 21670 | 0.240 |
Price($) | Vol. | No. |
---|---|---|
0.270 | 7492 | 1 |
0.275 | 184217 | 6 |
0.280 | 57037 | 2 |
0.285 | 5424 | 1 |
0.290 | 1000 | 1 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
Featured News
STX
Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla
GML
Gateway Mining sells WA Eastern Montague gold project to Brightstar for $14M – half of that in shares
KAI
Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
GL1 (ASX) Chart |