"There's a step change going on right now," as electric car sales rise and hybrid vehicles switch to lithium ion batteries, said Michael Fotios, executive chairman of General Mining, which is seeking to begin exports by July of the lithium-bearing mineral spodumene from Western Australia's Mt Cattlin project. "Raw material supply hasn't kept pace, and probably can't keep pace with the projected demand."
Perth-based General Mining, with a market value of $86 million, has seen its shares rise more than 1000 per cent since it announced a plan in February 2015 to resume production at the previously shuttered Mt Cattlin.
While hard rock miners such as General Mining and Pilbara Minerals are higher cost than brine projects, they have lower capital spending needs and are quicker to production, making them the best placed to exploit surging prices, according to Foster Stockbroking."
GMM Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
