AUSTRALIA
AJM.AX
0,02 AU$
22,22%
(AJM.ASX)| Price = 14c | Target = 31c | Equity Raised for construction start | Strong BUY | High Ris
Publié le 23 novembre 2016
DFS done; equity raised. |
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AJM announced the results of its DFS on 26 September, showing a profitable project with a quick pay-back of capital.
On 8 November, AJM announced it had raised over $40m in equity by a placement to J&R Optimum Energy, which has an MOU with AJM for supply of 100kt � 150kt/yr of spodumene concentrate, as announced on 29 February.
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To complete Binding Off-take Agreement (BOA) |
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J&R Optimum have not been able to convert the supply MOU into a BOA as they have been going through a listing on the Shenzhen Stock Exchange, which is now completed.
Given the equity investment, and J&R Optimum�s need for spodumene concentrate to feed its 18 battery plants, we can expect a BOA soon.
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Finance Completion to follow |
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AJM does not need any further equity; it needs to compete its debt financing.
AJM has a BOA in place with Lionergy for 100kt � 150kt/yr of concentrate and when it has competed the second BOA, with J&R Optimum, then debt finance will follow.
This is expected before the end of 2016.
Click here for AJM initiation research report :
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Mining Proposal Lodged; Final step in permitting stage |
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AJM has 2 granted Mining Leases, and all required approvals are in place, other than approval of the Mining Proposal. This is expected before the end of 2016.
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First product in 2017 |
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By end of 2016, AJM will have all its finance in place, and all required permits to being construction for first product before end of 2017.
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Beer & Co affirms Strong BUY, High Risk recommendation |
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AJM will be bringing production on-stream into a strong market, in about 13 months.
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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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