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PLL - Piedmont Lithium

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I've been having a look at WCP Reesources for the last couple of months, and find it a very interesting company. It deals with copper, gold uranium and eneryg exploration. It has no ongoing debt, 52 week high of 0.34c-last price of 14c and a market cap of $34 million.

WCP hold 30 million shares or 33% of uranoz (a spin off from wcp)

Projects include:-

Barrelmaker & Airport central gold project southeast of meekatharra WA.

Lake Torrens iron-oxide, copper, gold & uranium project adjacent to Olympic Dam mine SA.

Lilleyvale IOCG project se of mt. Isa QLD.

Chief Executive - Levi Mochkin

I feel the fundamentals of this group are very good ie cash flow, some strong names in jv's and has a strong prospectus over the next 12 months. Technically not much to look at. Has been in a down trend since begining of May, but does look to have found some resistance in recent days?

I'd very much like to hear any details/views on wcp. I've posted now due to the fact IMO it's about (over next 2 months) to have a turn around, but this is all on my own research and would love to hear others op's.:)
 
WCP have news out today on boardroom radio from executive director Levi Mochkin.

"Drilling commences at Titan prospect"
http://www.brr.com.au/WCP/wcp-resources-limited-

WCP have IOCGU style mineralised system located 30km north of olympic dam. IMO wcp could go back to it's 34cent high and more, if the market realise the fundamentals of this stock.:)
 
ps up 11.11% as at 12.30pm today. Volume also on the rise, if it goes over 2 million it could fly imo. DYOR:)
 
MC - $18m
SP - 4.6c
Shares - 394m
Options - NQ
Cash - $8.8m

Al Hariqah Gold Project:
● The Al Hariqah Gold Project (“Al Hariqah Project”) is a prospective and potentially large scale gold project located in the Republic of Yemen.
● During the quarter three holes for 395m of drilling was completed at the Al Hariqah Project as part of a limited ongoing drilling program. Two of the holes drilled were in the main zone in the north of the project where numerous drill holes have reported significant gold intercepts. The third hole was drilled approximately 250m to the south of the main zone. More drilling is planned in the southern area.
● Limited drilling activities will continue at the Al Hariqah Gold Project with results expected to be released progressively over the coming 12 months. A second local drill rig commenced during the quarter. The drill samples are being collated into batches and will be shipped for assaying progressively over the next 12 months.

New Yemen mining laws were drafted with assistance from the World Bank so as to encourage new investment. Importantly, the new mining laws have removed the option enabling the government to purchase a 49% interest in the project at market rates.


Yalgoo Gold Project:
● The Yalgoo Gold Project (“Yalgoo Project”) comprises a prospective tenement located in the Yalgoo Mineral Field in Western Australia where encouraging rock chip assays have returned: 9.36g/t Au, 9.98g/t Au, 25.1g/t Au and 60.4g/t Au.
● The rock chip results were returned from selective sampling of quartz veins hosted in Archean metamorphosed mafic intrusive rocks and from a north-south striking zone approximately 3km in length between the Kings Find and Nyngan historic workings.
● A scout style drilling program has been planned at the Yalgoo Project to investigate the potential for narrow vein high grade gold style mineralisation. The Company is currently negotiating Native Title heritage clearances over the areas of interest for the drilling program, which is now expected to commence by the end of the year, subject to receiving Native Title clearances.
 

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On August 23rd, 2017, WCP Resources Limited (WCP) changed its name and ASX code to Piedmont Lithium Limited (PLL).
 
After finding support at 14c in April, Piedmont Lithium has been making a comeback during the last month and is currently trading at 19.5c.

On 10 May and 17 May the company announced that recent assay results have confirmed further high-grade lithium mineralisation at its Core and Sunnyside and properties in the Carolina Tin-Spodumene Belt.

The company has also confirmed that it remains on schedule to release a maiden Mineral Resource estimate in accordance with the JORC Code by the end of June 2018 and the recent increase in share price appears be in anticipation of that.

big.chart-PLL.gif
 
hadn't been following this one, but someone has:

The US lithium developer’s shares were placed in a trading halt on Friday, after its shares spiked 67 per cent (from 9¢ to 15¢) over the previous week on no news whatsoever. Last week, 7 million Piedmont shares traded on Wednesday, followed by 11 million shares on Thursday and 8 million on Friday. The average daily volume for the past 30 days (which is inflated by last week's trading) is still only 2.4 million shares. Piedmont promised a response to the ASX’s price and volume query by Tuesday morning. But before the market opened on Tuesday, Piedmont applied for its shares to remain in suspension until Thursday morning. Then on Wednesday morning, Piedmont announced what it characterised as a five-year lithium supply pact with Tesla. By no coincidence, Tesla held its annual “battery day” on Tuesday (US time).

Incredibly, Piedmont announced this supply pact on its own website but not via the ASX platform. Piedmont removed the statement from its website soon after posting it, but not before it was picked up by Bloomberg. It doesn’t require a market sage to deduce that Piedmont’s deal with Tesla leaked. Whoever was beneficially buying large licks of Piedmont last week will want to have an impregnable explanation at the ready. Clearing and settlement house Pershing alone executed 3.4 million Piedmont shares last Thursday, and you can bet it’ll be taking calls from the Australian Securities and Investments Commission....
Click to expand...
www.afr.com

ASX probes Piedmont Lithium's Tesla deal

Piedmont’s “pact” with Tesla wasn’t published by the ASX because the ASX held it up to scrutinise its veracity.
www.afr.com www.afr.com
1600906037148.png
 
yes, somebody mention Tesla? Up 80% at open

Piedmont Lithium has detailed the five-year supply deal signed with Tesla, telling the ASX that staff "inadvertently" announced the deal on September 23 prior to release of a market update via the exchange. Piedmont confirmed it had lodged the announcement with the exchange before it was announced on the company's website, although it had not received confirmation from the ASX of release to the market. The announcement was held by the ASX, which queried details of the news.
Key terms of the deal include fixed-pricing for a volume of 160,000 tonnes of concentrate per annum with an optional five-year extension. Deliveries are booked in to start between July 2022 and July 2023.
Click to expand...

1601258821839.png
 
Am considering a chart based entry.
Would like to see it pullback, bounce off 0.40 (with strength/ would be my buy signal) and push up through 0.50 where I would probably jump off in anticipation of consolidation around 0.50, with further consideration then, to re enter again.
If it keeps heading up from here, I would want to see it consolidate at 0.50 before entering, based off small gap between 0.41 & 0.44.
I figure I could buy now, but I consider it could go either way ATM. (Based loosely on market and lithium stocks directions)

Screenshot_20210112-084834.png
 
Some context:

AAA.jpg


Chinese EV makers like NIO would be the ones to really think about on account of how much/many minerals AU sends to china.
 
frugal.rock said:
Am considering a chart based entry.
Would like to see it pullback, bounce off 0.40 (with strength/ would be my buy signal) and push up through 0.50 where I would probably jump off in anticipation of consolidation around 0.50, with further consideration then, to re enter again.
If it keeps heading up from here, I would want to see it consolidate at 0.50 before entering, based off small gap between 0.41 & 0.44.
I figure I could buy now, but I consider it could go either way ATM. (Based loosely on market and lithium stocks directions)

0.65 today touching the same high in october. whats next?
Click to expand...
 
Yeah a lot of boats have been missed and this is one of them. You're literally years behind the 8-ball if you're only thinking about lithium now.
 
Interesting, I've been wondering which market is driving the price of PLL higher, the US or ASX.
Last night US-PLL was up 10% and this morning ASX-PLL is up 26%.
Massive gap today on no news (?). The spec position has now doubled and I'll sell half and wait to see what happens next.

pll2701.PNG
 

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