Materials

Juniors on Radar: Explorers on the Move Today

Wed 20 Apr 22, 11:13am (AEST)

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Key Points

  • Underappreciated graphite stocks are on the move
  • Altech Chemicals +30% on silicon graphite feasibility study
  • Big River Gold receives a 33.3% premium takeover bid
  • Australian Pacific Coal +25% on coal acquisition

The S&P/ASX 200 Materials Index is down -0.4% in early trade, underperforming the ASX 200.

xmj vs asx200
Intraday chart of the S&P/ASX 200 Materials Index, with the ASX 200 shown in red

Graphite

Some positive flow is coming through to graphite names, perhaps prompted by the US$107m loan offered to Syrah Resources (ASX: SYR) by the US Department of Energy. Notable graphite movers include:

Company announcements 

#1 Altech Chemicals

Altech Chemicals (ASX: ATC) revealed “outstanding results” from a preliminary feasibility study for the development of an energy-saving silicon graphite product. The company's stock is up 30% in early trade.

The proposed plant will produce 10,000 tonnes per annum of silicon-graphite anodes for the European electric vehicle market. A US$95m capital investment is required to bring the project online, which is expected to generate US$185m revenue per annum.

You can read more about the announcement here.

#2 Big River Gold

Big River Gold (ASX: BRV) has received an all-cash offer from Canada-listed Aura Minerals.

Big River shareholders are being offered 36 cents per share, representing a premium of 33.3% to the stock’s last closing price of 27 cents. 

The Independent Board Committee of Big River has recommended shareholders vote in favour of the takeover scheme.

#3 Australian Pacific Coal

Australian Pacific Coal (ASX: AQC) has entered into a conditional binding agreement to purchase the Dartbrook Coal Project in NSW for $30m. The company’s stock was up 25% as the market opened. 

AQC has faced a number of legal challenges with recommencing underground mining operations at Dartbrook. The company is currently seeking approval for a five-year extension for mining approvals to recommission the mine.

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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