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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20.5¢ |
Change
-0.010(4.65%) |
Mkt cap ! $479.3M |
Open | High | Low | Value | Volume |
21.5¢ | 21.5¢ | 20.0¢ | $713.6K | 3.437M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 343004 | 20.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.0¢ | 80669 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 343004 | 0.205 |
18 | 854475 | 0.200 |
11 | 339545 | 0.195 |
15 | 453801 | 0.190 |
2 | 220810 | 0.185 |
Price($) | Vol. | No. |
---|---|---|
0.210 | 80669 | 7 |
0.215 | 158361 | 5 |
0.220 | 150565 | 4 |
0.225 | 431104 | 5 |
0.230 | 517713 | 5 |
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