In today’s briefing:
- Execution Remains Key For Mineral Resources
- NVX: Believe Positive Outlook Supported by Provisional Imposition of Anti-Dumping Tariffs on Material Imported From China
Execution Remains Key For Mineral Resources
- While Mineral Resources performed strongly operationally in the fourth quarter, not everyone is comfortable with its debt and the outlook for commodity prices.
- -Mineral Resources’ strong fourth quarter across all segments -Production outperformance, strong cashflows at Wodgina and Onslow -Onslow progressing toward nameplate capacity -Improving balance sheet, but sensitivity to commodity prices remains
NVX: Believe Positive Outlook Supported by Provisional Imposition of Anti-Dumping Tariffs on Material Imported From China
- We believe the expected increased need in North America for critical materials, including anode, is a key factor behind the non-dilutive funding the company has been able to obtain from the DOE, Canada Industrial Research Assistance Program and other sources, as NVX moves forward with the construction of a 2nd Tennessee plant.
- Production capacity of its existing Riverside plant has been pre-sold via multiple offtake agreements and NVX plans to construct a 2nd facility in the state, recently obtaining approval and expected tax credits toward this project.
- NVX has secured additional liquidity, recently entering into a funding agreement for up to US$100m convertible debentures with Yorkville Advisors Global.
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