The Archer Materials share price has seen gains of 222% since the first trading day of 2020. Here’s the latest from the company…
The post With the Archer Materials (ASX:AXE) share price up 222% this year, what’s next? appeared first on The Motley Fool Australia. –
The Archer Materials Ltd (ASX: AXE) share price was off to a great start this year, gaining more than 52% in January.
By 17 April, though, Archer had given all those gains back and was again trading at 16 cents per share.
With hindsight as our guide, that would have been an excellent time to pick up some shares. Since 17 April (and thus since 2 January) Archer’s share price is up 222% to 52 cents per share at close of trade today. By comparison the All Ordinaries Index (ASX: XAO) is up just under 2% so far in 2020.
What’s next for Archer Materials?
In a progress report released to the ASX today, Archer reported that the South Australian government has given the green light on its Program for Environment Protection and Rehabilitation (PEPR) for the company’s Campoona Graphite Project.
Archer revealed it can collect a bulk sample up to 60 tonnes. The sample will be processed off-site, including into graphite and graphene materials. This will enable small-scale initial testing of the company’s graphite materials for end-uses such as lithium-ion batteries.
Commenting on PEPR approval, Archer Materials chair Greg English said:
The approval of PEPR is a significant achievement and another step forward in the de-risking of the Campoona Graphite Project. With the forecast near-term growth in lithium-ion battery demand and forecast increase in graphite prices, the timing of the PEPR approval could not have been better. The next steps towards production involve finding a partner or buyer of the Campoona Graphite Project.
According to the company, the graphite at Campoona is “structurally near perfect” and it can be integrated in scalable lithium-ion batteries.
After gaining 2% earlier today, Archer Materials’ share price closed flat.
Archer Materials company snapshot
Archer Materials develops and integrates materials to address complex global challenges in quantum technology, human health, and reliable energy. The company works to develop advanced materials to build disruptive technology. Its materials include carbon-based qubits for quantum computing, graphene-enhanced biosensors and graphitic battery anodes.
Archer’s Australian-based mineral exploration projects span critical minerals like graphite, copper, tungsten, cobalt, and more. Archer Materials’ shares first began trading on the ASX in August 2007.
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.