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Core Lithium Ltd (CXO) 84c

In line with most of its peers CXO has now halved from its April high as investors have unceremoniously fled from yet another speculative pocket of the ASX. CXO has already entered into a binding offtake arrangement with Tesla (TSLA US) to supply 110kt of SC from its Finniss Lithium project over the next 4-years. Encouragingly the company already has offtakes in place with Yuaha and Ganfeng again both over 4-years.

Recent deep drilling results are encouraging for future expansion and with near-term production likely in the DecQ’22 this is a junior miner we like now it’s well under $1 – less than a week ago when the stock was around $1 we said we could see another 10% downside that’s clearly happened very fast!

MM is neutral to bullish CXO around 80c
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Core Lithium Ltd (CXO)
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