With just 5 trading days left in Jan to announce shipment (which is what the company said they'd do) NMT feels set to go....but to where?
> ASX release 22.12.16 attributed to Chris Reed: "…the first shipment of approx 10,000t of concentrate is expected to depart Kwinana in January 2017."
Earlier this month GXY jumped 6% the day they announced their first lithium ore shipment, and has gone on to highs 30% up on pre-shipment prices, though back a little on consolidation now. Jan daily volumes are up approx 30% on Dec averages with strong insto buying apparent. Overall gains are better than 100% off recent November lows.
Yes GXY and NMT have different profiles but are globally the only two new lithium producers coming online this year and most probably next. Lithium prices are booming off unprecedented demand and inherent constraints on new supply, which means significant revenue to us while the rest of the johnny-come-latelies are way back trying to raise money or figure out the difference between spodumene and lepidolite.
Clearly when an explorer becomes a producer in this environment, this is really a significant event. And NMT is just inches away from this transformation.
GLTAH and remember kids please DYOR!
NMT Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
