PILBARA MINERALS WKN: A0YGCV ISIN: AU000000PLS0 Forum: Aktien Thema: Hauptdiskussion

The ASX stocks to benefit from the battery minerals rebound PATRICK POKE Livewire Markets When ‘growth’ stocks go out of favour and stop attracting a premium, there’s often a large valuation gap that must be crossed before they begin to look attractive as ‘value’ stocks. As the multiple that investors are prepared to pay falls, earnings often fall with them, creating a ‘double-whammy’ for shareholders who choose to stay the course. With battery minerals producers down 50-95% over a few years (as discussed in our previous article), and with many of the underlying commodities also having fallen significantly, it’s possible that gap has now been crossed. In this Collection, Darko Kuzmanovic from Janus Henderson Investors; Tim Serjeant from Eley Griffiths Group; and Julian Babarczy from Regal Funds Management each discuss their preferred exposure as investors await a recovery among battery minerals producers and developers. Three favoured lithium producers Darko Kuzmanovic, Portfolio Manager, Janus Henderson Investors The EV transition thematic remains intact and the sector provides an attractive investment opportunity, given the significant pullback and sector derating. As any new sector develops and grows there will be setbacks from time to time, as has just happened. However, there are several learnings to take from this. The lithium market remains highly consolidated despite the development of new projects. The top five producers (Albemarle, SQM, Ganfeng, Tianqi, Livent) still control the bulk of the production and development of assets following recent consolidation moves. Already we are seeing development plans pushed back to better balance supply with demand. This is a positive for prices in the long term. As always, the quality, size and scalability of the resource and the execution and delivery skills of the management teams will be the key differentiators in the industry. The need to be appropriately positioned on the evolving industry costs curve will also be paramount. Globally, incumbent producers such as Albemarle, SQM and Livent have fallen by more than 50% from their peaks. They have robust margins, sound balance sheets and sufficient growth options. In Australia, Orocobre (ORE) remains highly profitable and is now well funded to double production and build a 10kt p.a. lithium hydroxide plant in Japan. Although it is yet to achieve nameplate capacity at its Olaroz brine salar, it has a sound balance sheet. The Mineral Resources (MIN) joint venture with Albemarle will significantly de-risk the Wodgina project, provide an integrated solution and significantly reduce its debt. Mineral Resources warrants attention, especially once the joint venture deal is completed and clarity on the Wodgina project is received. Although Pilbara Minerals (PLS) has been under pressure recently, the scale of the resource, the quality of the customer base and its downstream joint venture with Posco should insulate the company. We are keen to observe if it will deliver operationally over the next few quarters. Given the valuations of existing producers, I would favour these names over the medium term. Once investors begin to return to lithium, it is these names that will attract initial interest, as they are lower risk propositions. With the ability to deliver incremental capacity growth, they could take interest away from the more speculative exploration and pre-development players, which still face permitting, appraisal, financing and execution risks. Lithium prices appear to be bottoming, but we are yet to confirm this. This investment outlook is based on a two-year view, with 2020 potentially the inflection point. https://www.livewiremarkets.com/wires/the-asx-stocks-to-benefit-from-the-battery-minerals-rebound

LithiumInvestor, vielen Dank für deine Einschätzung. 👍👍👍

Bisschen enttäuscht. 😂

@Lithiuminvestor...... ich bin auch bissel enttäuscht! Hoffentlich reicht diese KE jetzt auch! Ich befürchte, es dauert nicht lange bis die nächste kommt.... Siehe AJM und Co.

Wenn ich hier alle D.e.p.p.e.n auf ignore setzen würde, wäre es ganz schön ruhig hier 😉

1€ Party hieß es schon vor 3 Jahren.

1 Euro Party xD

Sondern im schlamm versinkt.

PLS ist ein U-Boot welches nicht mehr auf dem Grund bleibt.

Ja aber nicht hier.

..wird bald einen Aufwärtstrend geben.

Pls ist und bleibt ein Langzeitinvest!

Chaser ich bin nicht nur hier investieren ich verdiene immer noch Geld siehe zb. im Moment Tui

Chaser weisst du eigentlich um welche aktie es geht?

6er sehe ich ähnlich wie du.

Als wenn das so einfach wäre....