AUSTRALIA
AJM.AX
0,02 AU$
22,22%
(AJM.ASX)| Price = 17.5c | Target = 31c | Construction to start for Australia=E2??s next lithium pro
Publié le 27 février 2017
AJM mobilising to site |
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On 27 February, AJM announced that it had received the final approval from DMP to commence operations on site.
AJM announced that it is mobilising to site and that earthworks will begin in mid-March, after
- Mobilisation of site offices; Installation of bore infrastructure; and
- Site survey and set out.
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On-site construction to start mid-March |
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From mid-March to mid-April, on site earthworks will include :
- Clearing and stockpiling top-soil
- Start bulk earthworks, pre-strip for mining and establishing tailings dams
- Complete base pad for process plant.
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AJM on-track for first for product early in 2018 � Prices still high |
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AJM has ordered long lead time items and will be able to install them on site from late May, to ensure first product in early 2018.
While Beer & Co expects prices for spodumene concentrate to fall over time, we expect AJM, as the next Australian producer, to receive strong cashflows early in the project life.
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AJM has cash and revenue, but debt still to be finalised |
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AJM has over $40m in cash due to its equity placement to off-take partner, J&R Shaanxi.
AJM is receiving revenue from AGO due to the high iron price; AJM receives 1% of revenue above $A 95/t from the 30% interest it previously held.
Beer & Co is confident will have the required debt in place before the plant is to be shipped to site, when the major payments are to be made.
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Beer & Co affirms Strong BUY, High Risk recommendation |
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AJM affirms Beer & Co.�s confidence in progress to first product.
Beer & Co affirms our 31c valuation and Strong BUY recommendation.
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Beer&Co.
ACN 158 837 186
Authorised representative Melbourne Venture Securities Pty Ltd
www.beerandco.com.au |
Author:
Pieter Bruinstroop
pbruinstroop@beerandco.com.au  |
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