MENU

Why the Kidman Resources share price has fallen 7% today

The Kidman Resources Ltd (ASX: KDR) share price has tumbled almost 7% lower to $1.28 in Tuesday afternoon trade.

This morning the lithium miner announced that its Covalent Lithium joint venture has completed an integrated pre-feasibility study for the Mt Holland Lithium Project.

Although the study has confirmed the compelling business case for an integrated mine-to-refinery project producing refined, battery grade lithium hydroxide, investors appear to have been expecting an even stronger case.

Kidman’s CEO and Managing Director, Martin Donohue, said: “We committed to completing the IPFS for the Mt Holland Lithium Project before the year end and are pleased to have achieved this target. The study provides further support for the attractive economics of our long-life, vertically-integrated lithium hydroxide project. Importantly, with the forfeiture issue now settled, funding secured through to final investment decision and strong progress on our lithium hydroxide offtake agreements, we continue to make good progress towards development of this globally significant project.”

The Kidman Resources share price has fallen 31.4% since the beginning of the year, while the S&P/ASX 200 Index has fallen roughly 7.34%.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!