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Pantera Lithium (ASX:PFE) has announced it’s the latest Australian company formerly more interested in EV battery metal lithium that’s now moving into the antimony space, with a mine in the U.S. to boot.
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However, shares were down -7% heading into the latter half of afternoon trades, which begs the question: with the US-Aus critmins deal such a success for a handful of companies, and the ongoing Trumpian enthusiasm for resources projects defining the current moment – why are shares down?
It’s worth noting that PFE is a fairly illiquid stock. As at 2.30pm AEDT on Thursday, just south of $400K worth of shares had traded hands. It could just be the case that Pantera Lithium isn’t entirely on too many radars right now.
The nanocap ($12.8M) has less than half a billion shares on issue, so at least there’s that. It could be the case that the market, having just seen companies like Arafura win from the Albo-Trump meet (before ARU, for its part, then issued another massive amount of shares), then declined again, might have put some on edge.
(On HotCopper and elsewhere, the lead-up to the Albo-Trump meeting was one of the best catalysts rare earth stocks down under had had since the COVID years; especially when China announced further export restrictions.)
Of course, for a materials company, the thing that will probably matter most is drilling results. Grade remains king, despite geopolitical macro. For now, the company will get to work doing early-stage geochem work. For its part, Pantera is sticking to a familiar playbook – which could also explain why, perhaps, today’s news might have been enough to add the stock to a watchlist but not quite buy in yet.
The project that’s picked up is located in Arkansas and, in PFE’s words, covers 5K acres in a region where no modern exploration has been carried out in around 100 years with “18+” historical mines in the immediate area.
Funding this acquisition is the Australian company’s recent sale of its Smackover lithium project in that same U.S. state for A$40 million.
PFE last traded at 2.8cps.
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