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Share Watch – 8 March 2021

Share Watch

In our blog of 8 March we reviewed green hydrogen and its prospects. In this share watch we look at some lithium stocks.

Data from Benchmark’s Lithium ion Battery Database (  shows battery demand in Europe – the second biggest market behind China — is set to increase at an annualised rate of 40.1 per cent between 2020 and 2025.

The early resurgence in lithium prices in particular has caught many by surprise. Major producer Albemarle reckons demand is­­­­ about to go through the proverbial roof.

In February, bullish sentiment and higher lithium prices inspired producers and hopefuls to raise cash from investors. That includes ASX-listed project developers like Core Lithium (ASX:CXO), ioneer (ASX:INR),  Argosy Minerals (ASX:AGY), and Infinity Lithium (ASX:INF).

Argosy’s one year’s share sales history

Argosy’s Rincon project in Argentina is now “fully funded through to 2,000tpa lithium carbonate production and cash-flow generation” following a $30m placement, it says.

Core’s one year’s share sales history

Core raised $40m to advance the Finniss project near Darwin towards development.

Infinity’s one year’s share sales history

Infinity in Europe also has an extra $15m in the kitty, while US-focused ioneer completed a $80m placement just this morning.

Financial Indicators

The VIX fear gauge up slightly since 24 February by 1.55 points to 24.66.

The Dow Jones Industrial Average is down 41.05 points or 0.12% since 24 February to 31,496.30, the STOXX 600 down 2.54 points or 0.72% to 408.68 and the Shanghai Composite index down 77.96 points or 2.14% to 3,5701.99.

Gold down to 1,704.30. US 10-year Treasury Bonds rising up to 1.568 and oil up to 67.09. Cryptos Bitcoin up again by 936 points or 1.86% to 51,306.

ASX 200 up 40.20 points or 0.95% since 24 February to 6,821.50 today. The Aussie dollar down to 77.05US cents.

Eco Market Spot Prices

LGC $32.00

STC $39.30

ESC $29.85

VEEC $46.00

ACCU $18.50

Sources: RenewEconomy, demandmanager,  Reuters, SMH, Market Watch, Stockhead

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