News

At various times in the market there will be particular sectors that go for a run

At various times in the market there will be particular sectors that go for a run – lithium, for example (reports Stockhead). But right now, according to Wendt, it is more about individual stocks than one sector being the hot favourite. “18 months ago it didn’t matter what stock you looked at in the lithium space, everything was moving and everything was moving rapidly and you sort of get that with the first wave I think of any new hot fashionable sector,” he told Stockhead.

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Plus, New World Cobalt turns its hand to a promising gold and base metals project. And Vale, Sir Arvi.

There was lots to cheer about for the ASX-listed lithium stocks when Wesfarmers (WES) rolled out its $776 million, or $1.90 a share, friendly takeover bid for Kidman Resources (KDR). First there was the 47% premium to Kidman’s last sale, confirming what was said here last month that there was value to be had in the lithium stocks because the equity market had overdone last year’s great sell-off in the sector.

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Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week

Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week thanks to a high-priced takeover bid from Wesfarmers for lithium project developer, Kidman Resources, and a plan to re-open the mothballed Ravensthorpe nickel project. Both moves demonstrated a return of confidence in battery metals and for the overall health of the broader market for minerals and metals.

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Despite the continued sell-off of global lithium stocks, Pilbara Minerals boss Ken Brinsden says there’s no issue with demand (reports MiningNews).

Despite the continued sell-off of global lithium stocks, Pilbara Minerals boss Ken Brinsden says there’s no issue with demand (reports MiningNews). Cannacord Genuity noted today that the Global X Lithium ETF was down by 4.3% last week alone, and Pilbara fell 3.5% this morning (Monday) to a 2019 low of A63.2c off the back of its March quarterly. Brinsden told investors this morning that demand for lithium remained strong.

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WA lithium developer Liontown Resources (ASX: LTR) continues to impress Bridge Street Capital Partners’ resource analyst, Dr Chris Baker.

WA lithium developer Liontown Resources (ASX: LTR) continues to impress Bridge Street Capital Partners’ resource analyst, Dr Chris Baker. Baker has been following Liontown closely and he was back in the field this week, pausing to issue a brief flash note on the Company’s most recent drilling results – which included the best-ever lithium intercept recorded from the Kathleen Valley Project. “A particularly impressive suite of drill holes from Kathleen Valley which might take total resources to over 50Mt!” he said.

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Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after.

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after. A sharp rise in the oil price earlier this week to more than $US74 a barrel was largely a function of international events, including a fresh threat from Iran to blockade the narrow Strait of Homuz at the western end of the Persian Gulf in retaliation against US sanctions.

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Liontown Resources (ASX: LTR) is achieving growing market awareness of the exploration successes and resource growth at its key WA lithium projects

Liontown Resources (ASX: LTR) is achieving growing market awareness of the exploration successes and resource growth at its key WA lithium projects, according to prominent Sydney-based resource analyst Gavin Wendt. The company’s shares are up around 30 per cent since the start of the month, as investors begin to absorb the significance of the dual drilling programs at its Kathleen Valley and Buldania lithium projects in WA. “The quality of exploration results from these programs cannot be questioned,” wrote Wendt, in his widely-circulated newsletter Mine Life.

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Gold down, iron ore up - perhaps with a lot further to go. In a nutshell, they were the highlights of an Easter holidays-shortened week on the Australian stock market.

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