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Atlas Lithium, SilverBow Resources among Energy/Materials gainers, MP Materials leads losers

Mar. 02, 2023 2:05 PM ETSBOW, SEED, CRT, MARPS, SLNG, NEWP, TGLS, MP, TMC, ATLXBy: Ahmed Farhath, SA News Editor98 Comments

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hxdbzxy/iStock via Getty Images

  • Gainers: Atlas Lithium (ATLX) +19%. SilverBow Resources (SBOW) +14%. Tecnoglass (TGLS) +13%. Origin Agritech (SEED) +12%. Cross Timbers Royalty Trust (CRT) +10%.
  • Losers: MP Materials (MP) -11%. TMC the metals company (TMC) -8%. Marine Petroleum Trust (MARPS) -7%. Stabilis Solutions (SLNG) -7%. New Pacific Metals (NEWP) -6%.

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Comments (98)

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Johnny Skyhook profile picture

Huge news from $ATLX.


The company just announced $20 million in non-dilutive financing. I now understand why it has been rocketing higher in recent sessions.
illmode profile picture
@Johnny Skyhook if you do the math, $666M would be the estimated revenues
Johnny Skyhook profile picture
@illmode Yep and it clarifies a lot of the exploratory risk given Ortiz isn't going to pay $20 million unless he has a very clear understanding of their pathway to that revenue. The importance of this agreement has not been fully appreciated by the market.
Johnny Skyhook profile picture
$ATLX releases metallurgical data on its Brazil hard rock spodumene project at Neves. This represents an important step forward toward defining the feasibility of commercial production:

"The initial metallurgical target was the production of concentrate grading 6.0% Li2O with less than 1.0% Fe2O3, and these targets were exceeded. SGS has been providing testing and analytical services to the mining industry since 1941 and has earned the reputation as the leading provider of bankable metallurgical services.

Marc Fogassa, Atlas Lithium's Chairman and Chief Executive Officer, commented: "Atlas Lithium is advancing well towards our goal of becoming a leading provider of lithium concentrate. These excellent metallurgical results by SGS show highly effective separation, high recovery rates, and negligible impurities using standard, environmentally-friendly DMS techniques."

The Metallurgical Report will become a chapter in the forthcoming mineral resource report for the Neves Project under the guidelines of Regulation SK 1300. These results allow SGS to begin work towards a Preliminary Economic Assessment which is expected to be issued approximately two months after the resource report."

Johnny Skyhook profile picture
$ATLX breaks 52-week highs...again.

Once we get some solid news on the resource estimate these values will look cheap, I think. We've got some good days ahead. I hope everyone had a chance to get some shares.
illmode profile picture
@Johnny Skyhook still waiting for the dip so I can double down...
Johnny Skyhook profile picture
@illmode I'm not qualified to say if it will dip or not, but one thing I do think is worth considering is the market cap is still only $180 million. Marc wants to take the market cap to $1 billion -- which is a credible pathway, in my opinion, perhaps even higher.
TommyIrish profile picture
@Johnny Skyhook


Twenty-****-SEVEN dólares!

This stock is either going a lot lower or higher!
Johnny Skyhook profile picture

Do I have a witness?
TommyIrish profile picture
Johnny Skyhook profile picture
Well $ATLX we just broke $20 on the intraday today after smashing a huge wall of resistance in yesterday's session. Nothing reasonable about these prices, it looks like another epic short squeeze.

The good news from next door neighbors $SGML and $LTHCF certainly doesn't hurt but we are still waiting for a nice catalyst showing robust metallurgy within days most likely. All of that pushes up our values.

It's a great day to be long $ATLX. It just gets better and better...
Johnny Skyhook profile picture
The 8th drill is up and running for $ATLX. Two more expected soon. This gets us closer to defining the Neves target and an initial resource estimate, which could potentially be a major catalyst.

$PBR Distribution of generated results (posted by @G_A_Wilson on Twitter)
Johnny Skyhook profile picture
Some updates:

Regarding the quartzite and iron subsidiaries, it should be clarified that CEO Marc Fogassa this week speaking at the Harvard Club said:

* Revenue from quartzite is projected in 2023 (this is the $JUPGF subsidiary). Keep in mind Jupiter Gold only received permits in December 2022 and it takes time to go from permits to production. The quartzite was only discovered in 2020 and the project is moving forward normally.

* The privately owned iron subsidary is also moving forward now that permits were approved. The company has acquired land as a staging for future operations and iron ore will enter production by the end of 2024.

Fogassa also said:

* A preliminary economic analysis (PEA) which should theoretically include both a resource estimate and metallurgical studies is projected for this year -- probably second half. Metallurgical results from representative samples should be ready in April, and following that a resource estimate, leading to the PEA. With acceptable data this should unlock the first tranche of the Mitsui offtake finance, an important source of funding for the planned 150,000 t/y SC6 concentration facility previously announced.

* Goldman Sachs and other parties are rumored to be taking an interest in the other battery metals in the Atlas portfolio of rights, which include nickel and cobalt (nickel by the way is also in demand by the defense industry). I think these could form the basis of new partnerships and/or subsidiaries.

Most importantly of course for now is the lithium and it is increasingly clear that Atlas has the goods. We won't know for certain until they release the drilling data that has to be worked over by a third party to arrive at a resource estimate but as I commented elsewhere the initial metallurgical results look definitely commercial per first-tier Canadian firm SGS:


All of this to me suggests the current levels of valuation won't last. Once we get some solid data on the size of Anitta's resources and concentration of lithium in situ we will be well on our way to advanced feasibility studies and filing the paperwork needed to get to the development stage. The next 12-18 months look very promising for shareholders who got in early.
ilikebiscuits profile picture
@Johnny Skyhook Maybe the quartzite fairy will give them the cash and expertise to develop the quartzite mine. Maybe the iron fairy will do the same for the iron mine. Jupiter is a shell company just like Atlas with no revenues that sells stock to gullible investors to pay the bills. They had $67,000 in cash as of the latest 20-F filing dated 4/30/2021, which is the latest one they have filed. Has anyone bothered to ask how much it will cost to develop these mines?

Atlas is planning a concentration facility when they have nothing to concentrate and won't for many years, if ever. I can't believe that otherwise intelligent people are falling for all this.
Johnny Skyhook profile picture

You seem like a nice person and I can only hope whatever unhappiness that causes you to attack other people's investments on social media gets resolved. All this time you've been bashing, others have been making a profit. The fact is you've been wrong since the beginning.

As to your latest comment, what you are saying is not any different than what you said when this was a penny stock. But we are now on Nasdaq, have watched volume and market cap rise, have expanded the acreage at Neves, have soon to be 10 rigs out there, new metallurgical data confirmed by third parties, and we are well on our way toward a preliminary resource estimate and funding from Mitsui (not to mention several other milestones already achieved). We still have promising acreage that hasn't even been drilled yet at Salinas and some artisanal mine sites, not to mention the nickel properties which are starting to get attention from major banks. The pathway toward $1 billion market cap has gotten more not less credible with every bit of news to come from the company.

When this was trading for under a penny on the OTCQB, a measure of skepticism may have been justified. However at some point most investors see value in adjusting their thesis as new data is presented. That new data is already out there. With the preliminary economic analysis in April, there is the potential to greatly increase institutional inflows, which will be followed by preliminary and definitive feasibility studies to unlock more development finance. This is precisely how $SGML went from $1.50 in 2019 to more than $30 recently.

Those of us who identified the trends early and appreciated the potential of $ATLX have already been rewarded for their risk. For those who stayed out because of the considerable risks, the data is increasingly compelling and there is still time to get in.

Good luck and happy trading.
ilikebiscuits profile picture
@Johnny Skyhook I stand corrected. Although SA doesn't have it, Jupiter filed a 20-F for FY 2021. Their cash balance as of 12/31/2021 was $849, down from $67,000 the year prior. They still had no revenue and a $474,000 loss, with an accumulated deficit of $2,491,000. Mr. Fogassa, he of no mining experience whatsoever, is CEO and the controlling shareholder of Jupiter as well. That is your quartzite mine developer.

The facts are increasingly compelling and there is still time to get out.
Johnny Skyhook profile picture
Great news from $ATLX...

In the latest investor presentation (updated for CEO's conference appearance in Toronto today) the company said all 7 diamond drills are active and 3 more are planned, which will accelerate the ongoing exploration at Abelhas. Step by step toward that $1 billion market cap.

@Johnny Skyhook
"up to 3.26% Li2O" while $SGML's grade is in the range of 1.5-1.8% if I'm not mistaken. One of a few reasons for $SGML to want to buy their bigger junior neighbor this year.
Johnny Skyhook profile picture
@Kno Clu The average for spodumene is about 1.5%. I think over about 1% is where we start to be economic. Definitely 3.26% is fantastic but we don't know how long the intervals are. However, Fogassa did say as a reference that there was an average of 1.5% when referring to their project in that video interview I posted a while ago.

With 7 rigs now working and 3 more contracted I surmise whatever private data they have collected must be pretty good, because they are rushing to complete the drilling at considerable expense. The reason (as far as I can tell) is to meet the conditions for that vital Mitsui financing. In any case we are in a prime location to find good stuff and as far a speculations go what will push the stock value higher is what's in the ground.
@Johnny Skyhook okay, if Fogassa says that, it can’t be disputed. Some analyst mentioned earlier that their lithium was higher grade at 2.5-3% based on prior drillings. Thanks for clarifying that. Yes, things are moving pretty quickly, and the CEO is full of energy and excitement, definitely there is more he can’t disclose yet.
Where’s ATLX PE?
SBOW’s Q4 earnings were so high nobody can agree - ie $3 to 7 - and SBOW PE is around 2
Tryin to help here as Lithium prices are going down next 2 years IMHO
Johnny Skyhook profile picture
@colorado Oilman No earnings to speak of yet, they are still an exploration stage miner -- as as such pre-revenue.

There was some nominal revenue from selling sand but really very minimal so not enough to justify any PE comparisons IMO. They will also start getting something from the quartzite and iron ore subsidiaries recently permitted, but again mainly downside protection rather than major revenue streams. They are debt free however, and have been financing operations through equity. To get to any kind of meaningful revenue the $65 millin offtake finance MoU with Mitsui is pivotal (assuming of course commercially feasible amounts of lithium, likely pending a MRE and feasibility studies -- but the exact terms of the finance conditions weren't disclosed).

By the way in terms of lithium prices, it depends on who you talk to. Lithium producer SQM bucks the downtrend view and says demand will increase 25% next year. I'm in the camp of strong overall demand keeping prices buoyant in the next 10 years, but declining somewhat over that period as supply increases.

TommyIrish profile picture
@Colorado Oilman wonders "Where’s ATLX PE?"

The seek it here, they seek it there...

Don't think you are getting the message.

Not about the here and now but the Kingdom to come!
ilikebiscuits profile picture
@Colorado Oilman They won't have any revenue, much less profits for years, if ever. Anyone expecting revenue from their non-existent quartzite and iron mines is either fooling themselves or trying to fool you.

They have never developed or operated a mine of any kind in the 10 years their current CEO has been there.
Johnny Skyhook profile picture
Did I not say $ATLX is the way to go? Double digits again this week. They accused me of pumping it all last year, but I'm still holding for another 14x.
TommyIrish profile picture
@Johnny Skyhook


Fantasmic Story Stock!

Endless potential...
Johnny Skyhook profile picture
@TommyIrish Well not endless and it is risky, but definitely worth it on a risk-reward basis at this market cap. With 150,000 t/y of 6% concentrate this should easily be $500 million to $1 billion vs $94 million even at today's surge in market cap. Sigma didn't reach $3 billion without looking a lot like $ATLX does now -- and Atlas now has a pathway doing what Sigma did to move faster toward the same goal.
TommyIrish profile picture


Accidentally sold for $18.

How do you all fell about a pullback to $13 so I can reload?
TommyIrish profile picture
"Atlas Lithium (ATLX) +19%."

Sons of MOASS!

AMC, BBBY, SI not working out for you?

Maybe stick a little (sure, wannabe) Lithium up your stocking!
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