American Battery Commissions Nevada Plant; ArcelorMittal To Build NOES Facility; Gold Royalty Reports Preliminary Q1 Results And More: Monday's Top Mining Stories
Portfolio Pulse from austin@walkonholdings.com
American Battery Technology (ABAT) has initiated its lithium hydroxide pilot plant in Reno, Nevada, to produce battery-grade lithium hydroxide from unconventional sources, supported by a $4.5 million U.S. Department of Energy grant. ArcelorMittal Calvert (AMSYF) plans to construct a facility in Alabama for producing non-grain-oriented electrical steel, backed by $280.5 million in investment tax credits. Gold Royalty (GROY) reported a significant increase in revenue and gold equivalent ounces for Q1, projecting higher revenues for 2024. Saudi Arabia's Manara Minerals (FQVLF) is nearing a deal to acquire a minority stake in Pakistan's Reko Diq mine, a project 50% owned by Barrick Gold (GOLD).
April 22, 2024 | 9:01 pm
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American Battery Technology has started its lithium hydroxide pilot plant in Nevada, aiming to commercialize its technology for extracting lithium, supported by a $4.5 million grant from the U.S. Department of Energy.
The commissioning of ABAT's pilot plant is a significant development, likely to attract investor interest due to its potential to reduce reliance on foreign lithium sources and support the growing demand for battery-grade metals.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
ArcelorMittal Calvert plans to build a facility in Alabama for producing non-grain-oriented electrical steel, crucial for electric vehicle motors, supported by $280.5 million in investment tax credits.
The construction of a new NOES facility by AMSYF is a strategic move to meet the growing demand for electric vehicle components, likely to have a positive impact on its stock due to the significant investment and support from the Inflation Reduction Act.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Saudi Arabia's Manara Minerals is close to acquiring a minority stake in the Reko Diq mine, a project 50% owned by Barrick Gold, with production expected to start by 2028.
The potential acquisition by Manara Minerals signifies a strategic investment in the Reko Diq mine, likely to have a positive impact on FQVLF's stock as it expands its mining portfolio.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Barrick Gold, owning 50% of the Reko Diq mine, is open to Saudi Arabia's Manara Minerals acquiring part of Pakistan's stake, with production expected by 2028.
The openness of Barrick Gold to Saudi Arabia's investment in the Reko Diq mine could enhance the project's financial and operational prospects, potentially benefiting GOLD's stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Gold Royalty reported a significant increase in Q1 revenue and gold equivalent ounces, with projections indicating higher revenues for 2024 based on a gold price of $2,000 per ounce.
Gold Royalty's positive preliminary Q1 results and optimistic projections for 2024 are likely to boost investor confidence, potentially leading to a short-term uptick in its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100