NVX - Novonix Limited

Chart update

I bought NVX AT 5 $ AUD, ITS NOW AT 0.8 $ AUD . SHOULD I AVARAGE DOWN BY BUYING MORE Of this??? I don't want any profit , just want to get out with minimum loss.

any thoughts


thanks

LKM said:

I bought NVX AT 5 $ AUD, ITS NOW AT 0.8 $ AUD . SHOULD I AVARAGE DOWN BY BUYING MORE Of this??? I don't want any profit , just want to get out with minimum loss.

any thoughts


thanks

Click to expand...

Unfortunately it is an offence to give advice on buying or selling stock. Having said that, dollar cost averaging can work in your favour IF the stock is looking at recovery.

A better question to ask yourself is " Is it worthwhile buying NVX atm.?" rather than should one look at improving your average buy in price of a stock, as they are quite separate questions.

OR would the money be better spent on another stock.

If your analysis of NVX's prospects still hold and they come to fruition then you may find yourself profiting. Are you good at profiting from Li ion battery stocks? is another question worth asking.

Should you cut your losses?

The most difficullt decision I find is to sell at a loss. Not doing however can lead to further losses. One good effect of selling at a loss is that it can be offset against future capital gains.

All the best with your investing and decision making.

gg

Glad I did jump... was a bit disappointed with myself for not selling at a better price, but heck, looking back I think I did ok, considering.
I think I'm my hardest critic.

“NOVONIX” refers to the article published in the Australian Financial Review speculating that NOVONIX will undertake a capital raising. NOVONIX wishes to advise that it has considered its position and is not undertaking an equity capital raising at this time and that its capital position remains strong.

signs offtake agreement... up a bit



PowerCo today announced the signing of a binding offtake agreement for a minimum of 32,000 tonnes of high-performance synthetic graphite material. The material will be supplied to PowerCo over a five-year term starting in 2027.

Established by Volkswagen in 2022, PowerCo is committed to ramp-up global battery cell production. PowerCo oversees international factory operations, advances in cell technology, and vertical integration of the battery value chain. PowerCo has identified three gigafactory locations – Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada - with a combined capacity of up to 200 GWh/year. NOVONIX and PowerCo previously announced the signing of a non-exclusive Testing and Development Agreement in March 2024.

NOVONIX’s Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America and is slated to begin commercial production in 2025, with plans to grow output to 20,000 tonnes per annum to meet current customer commitments.

Previously, the Company announced the U.S. Department of Energy Office of Manufacturing and Energy Supply Chains awarded the Company a US$100 million grant and selected for a US$103 million investment tax credit towards the funding of the Riverside facility.

completion of its fully underwritten $44.4 million placement of new fully paid ordinary shares to institutional and sophisticated investors at an offer price of $0.60 per New Share

That's a whopping 37.8% discount. Share holders get shafted again.

NOVONIX Limited announced upcoming investor events in December 2024, including an investor presentation and site tour in Chattanooga, Tennessee, and participation in virtual conferences hosted by Jefferies and Deutsche Bank.

Summary​

• NOVONIX will host an investor presentation and site tour of its Chattanooga facilities on December 5th, 2024.
• In-person attendance is by invitation only due to limited capacity.
• Dr. Chris Burns, CEO of NOVONIX, will lead the presentation and site tour.
• Investor questions can be submitted in advance via email to ir@novonixgroup.com.
• A replay of the presentation will be available on the NOVONIX Investor Relations website.
• NOVONIX will participate in a virtual conference hosted by Jefferies on December 13th, 2024 at 1:40 pm EST.
• NOVONIX will participate in a fireside chat with Deutsche Bank on December 17th, 2024 at 10:00 am EST.
• Presentation materials and webcast links will be posted on the NOVONIX investor relations website before each event.

Sentiment​

Score: 7

Explanation: The announcement is positive, highlighting several opportunities for investor engagement and showcasing the company's progress. However, the limited capacity for the in-person event slightly lowers the score.




NOVONIX Limited successfully completed a $44.4 million institutional placement of new shares, securing funding to expand its anode materials business and utilize a Department of Energy grant.

Summary​

• NOVONIX Limited successfully raised $44.4 million through an institutional placement of approximately 74.1 million new shares at $0.60 per share.
• The placement was fully underwritten by Citigroup and Jefferies.
• Existing institutional shareholders participated, and new domestic and international investors joined.
• Major shareholder Phillips 66 is also participating in a conditional placement of approximately US$5.0 million (A$7.7 million).
• The funds will support the expansion of NOVONIX's anode materials business, aiming for 3,000 tonnes per annum production capacity by 2025.
• This expansion will also allow NOVONIX to continue accessing its Department of Energy grant of up to US$100 million.
• A separate non-underwritten share purchase plan (SPP) aims to raise an additional A$5.0 million from eligible shareholders.
• The SPP will offer shares at the same price as the institutional placement, with a potential scaling back if demand exceeds A$5.0 million.
• Settlement for the institutional placement is expected on November 29, 2024, with allotment on December 2, 2024.
• The conditional placement to Phillips 66 is subject to shareholder approval at an Extraordinary General Meeting scheduled for around January 22, 2025.

Sentiment​

Score: 8

we'll take it .
.
NOVONIX received valid applications from eligible shareholders for 68.6 million fully paid ordinary shares in NOVONIX to raise A$41.2 million (before costs) under the SPP. As a result, the SPP was heavily oversubscribed in excess of the A$5.0 million target initially announced.

The SPP was priced at A$0.60 per SPP Share, and eligible shareholders were given the opportunity to apply for up to A$30,000 worth of SPP Shares.

Given the strong support shown by eligible shareholders, NOVONIX has allowed a greater level of participation by eligible shareholders.

The SPP size was increased by A$27.3 million above its original target of A$5.0 million, raising a total amount of A$32.3 million under the SPP.

The scale back was applied in two stages:
(1) eligible participants received an allocation to maintain their percentage holding in NOVONIX held prior to the announcement of the Institutional Placement, Conditional Placement and SPP;
(2) eligible participants received an allocation of 75% of their application received in excess of their Initial Allocation.


.
NOVONIX will use the proceeds from the SPP to purchase, install, and commission additional equipment in the Company’s Riverside facility in Chattanooga, TN. This equipment will be used to support the further qualification of products for the Company’s contracts with Panasonic, Stellantis, and PowerCo.