PNN

About PNN

Power Minerals Limited (PNN) is a mineral resources exploration company focused on the exploration and development of projects in demand-driven commodities. These include the Salta Lithium Brine Project in Argentina's prolific lithium triangle, the Musgrave Nickel-Copper-Cobalt-PGE Project in northern South Australia's Musgrave Province, and the Eyre Peninsula Kaolin-Halloysite Project on South Australia's Eyre Peninsula.

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What does Power Minerals Limited (PNN) do?

Power Minerals Limited (PNN, formerly Pepinnini Minerals Limited) is an exploration company primarily focused on the discovery and development of lithium, copper, nickel, cobalt, gold, kaolin and halloysite deposits in Australia and Argentina.

The company is currently running four major projects:

• Salta Lithium-Brine Project — Located in the Salta province, north-west Argentina, the overall project is part of the Lithium Triangle spanning across Argentina, Bolivia and Chile. The Lithium Triangle is the world’s leading lithium brine region. The project comprises five salt lakes within seven mining leases across an area of 147.07 square kilometres. Power Minerals holds a 100% interest in the project.

• Musgrave Nickel-Copper-Cobalt Project — Comprised of two exploration licences and eight exploration licence applications, this project covers an area of 14,003 square kilometres within the Anangu Pitjantjatjara Yankunytjatjara Lands, in the Musgrave Province of north-west South Australia.

• Eyre Peninsula Kaolin-Halloysite Project — Located on the western side of the Eyre Peninsula in South Australia and strategically sitting adjacent to Andromeda Metals, the project consists of three exploration licences covering an area of 1,413 square kilometres. Approvals for drilling have been granted by the South Australia Department for Energy and Mining.

• Santa Ines Copper-Gold Project — Located in North-Western Argentina, the project is strategically placed near BHP’s Escondida Copper-Gold Mine in Chile and 40 kilometres south-west of First Quantum’s Taca Taca Cu-Au-Mo Project. It consists of four mining leases covering 61.4 square kilometres.

In FY2020, the company changed its name from PepinNini Lithium to PepinNini Minerals to more accurately reflect the company’s multi-commodity focus. In June 2022, the company had another name change from PepinNini Minerals to Power Minerals, with no change to its ticker symbol.

Looking for lithium stocks? Find the top lithium stocks on the ASX.

Is Power Minerals a profitable company?

No, the company is not profitable at this time. Power Minerals has earned no revenue since FY2016. The company has recorded net losses since FY2012.

To continue operations, the company has floated an increasing number of shares each financial year. The number of shares available rose throughout FY2019, FY2020 and FY2021 from 9m to 18m to 33m shares, respectively. As a result, the company’s Book Value Per Share has also decreased significantly during these years from A$1.25 to A$0.99 to A$0.46, respectively.

In its FY2021 annual report, the company reported zero debt.

Is PNN stock a buy?

Some investors believe PNN stock is a buy at this time.

Between 22 March 2022 and 19 April 2022, PNN stock price leapt from A$0.41 to A$0.96, an astronomical climb of over 130%. The large stock price jump was due to a wave of positive news for shareholders.

At the end of March, Power Minerals reported that their Salta Lithium-Brine Project in north-west Argentina continued to reap high-grade Lithium and had entered a Memorandum of Understanding (MoU) with lithium extraction company Sunresin New Materials to develop the project further. The company also commenced first-phase drilling at their Eyre Peninsula Kaolin-Halloysite Project in South Australia and Santa Ines Copper-Gold Project in Argentina.

While recent announcements appear positive, Power Minerals saw the resignation of a number of executives in the half-year leading up to the end of 2021. These include Non-Executive Director Robert Wei Sun, company Co-Founder and Managing Director Rebecca Holland-Kennedy and Non-Executive Director Luis Kennedy.

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Does PNN stock pay dividends?

Power Minerals has no history of paying dividends and has not announced any intention to pay dividends in the future.

Who owns PNN stock?

At 60.3% of the total float, the general public owns the majority of PNN stock. Members of the public with the most substantial holdings include Chunyan Niu (4.57%), Peter Proksa (3.81%) and Stephen Curtain (1.32%).

Other significant shareholders include Trade Prestige Pty Ltd (3.68%), former Power Minerals’ Co-Founder and Managing Director Rebecca Holland-Kennedy (3.57%), George Holland Pty. Ltd (1.27%), Trinity Direct Pty Ltd (1.13%) and Credit Suisse, Investment Banking and Securities Investments (1.03%).

Newly appointed Executive Director Mena Habib holds 0.55% of PNN stock.