Has the Australian Diversified Metals and Mining Industry valuation changed over the past few years?

Investors are relatively neutral on the industry at the moment, indicating that they anticipate long term growth rates to remain steady. The industry is trading close to its 3-year average PE ratio of 14.6x. Future earnings are expected to decline by 3.9% which could cause market valuations to fall.

How does Australian Diversified Metals and Mining compare with similar industries?

There is insufficient data on the sub-industries of this industry.

Australian (ASX) Diversified Metals and Mining Industry Analysis

Date	Market Cap	Revenue	Earnings	PE
Sat, 28 May 2022	AU$355.4b	AU$127.4b	AU$24.6b	12.8x
Mon, 25 Apr 2022	AU$390.9b	AU$124.5b	AU$24.1b	13.8x
Wed, 23 Mar 2022	AU$396.5b	AU$122.3b	AU$23.6b	15x
Fri, 18 Feb 2022	AU$370.0b	AU$121.9b	AU$23.7b	22.8x
Sun, 16 Jan 2022	AU$373.3b	AU$109.9b	AU$16.6b	24.1x
Tue, 14 Dec 2021	AU$323.8b	AU$110.6b	AU$16.8b	23.1x
Thu, 11 Nov 2021	AU$291.3b	AU$108.1b	AU$16.4b	23.8x
Sat, 09 Oct 2021	AU$214.7b	AU$108.6b	AU$16.6b	21.5x
Mon, 06 Sep 2021	AU$312.1b	AU$106.3b	AU$16.4b	16x
Wed, 04 Aug 2021	AU$346.1b	AU$105.9b	AU$16.5b	15.8x
Sat, 08 May 2021	AU$299.6b	AU$92.3b	AU$12.7b	15.8x
Tue, 09 Feb 2021	AU$269.8b	AU$81.8b	AU$8.7b	14.9x
Mon, 02 Nov 2020	AU$202.4b	AU$84.7b	AU$9.9b	13.1x
Thu, 06 Aug 2020	AU$214.4b	AU$83.0b	AU$11.4b	10.7x
Sun, 10 May 2020	AU$183.1b	AU$95.6b	AU$14.2b	9.9x
Sat, 01 Feb 2020	AU$226.6b	AU$88.7b	AU$13.5b	10.8x
Tue, 05 Nov 2019	AU$212.2b	AU$90.1b	AU$13.9b	13.3x
Fri, 09 Aug 2019	AU$239.1b	AU$85.8b	AU$13.2b	17x


AU Market	-1.30%
Materials	-3.49%
Metals and Mining	-3.76%
Diversified Metals and Mining	-4.72%
Copper	1.01%
Silver	0%
Aluminum	-1.34%
Gold	-1.71%
Steel	-2.03%
Precious Metals and Minerals	-3.10%

Company	Last Price	7D	1Y	Valuation
AKE Allkem	AU$14.01	7.4% +AU$612.2m	112.6%	PS26.5x
IGO IGO	AU$12.12	3.9% +AU$348.2m	59.3%	PS48.9x
MIN Mineral Resources	AU$61.29	2.5% +AU$276.6m	33.5%	PS15x
PLS Pilbara Minerals	AU$2.91	2.1% +AU$178.6m	137.6%	PS103.5x
ILU Iluka Resources	AU$10.78	3.6% +AU$156.7m	39.8%	PS12.5x

May 23

Sayona Mining Limited Announces A Positive Prefeasibility Study (PFS) for its Flagship North American Lithium (NAL) Project in Québec, Canada

Sayona Mining Limited announced a positive prefeasibility study (PFS) for its flagship North American Lithium (NAL) Project in Québec, Canada, confirming the NAL operation's technical and financial viability. The PFS was conducted by Sayona Mining's Canadian subsidiary, Sayona Québec, which is owned by Sayona Mining and Piedmont Lithium. Forming the key part of Sayona's Abitibi lithium hub comprising NAL and the nearby Authier Lithium Project, the restored NAL operation and the Authier deposit, together with the Company's emerging northern Québec hub, comprise North America's largest lithium (spodumene) resource base. This will allow Sayona to launch production ahead of other North American projects, generating sustainable cash flows and putting the Company on a fast track to go downstream into valueadded lithium hydroxide or carbonate production. Québec is rapidly emerging as a leader in the battery sector, benefitting from its clean and sustainable hydropower, worldclass infrastructure and proximity to market. At NAL, the overriding development objective is for the restart of production, with the benefit of supplementary ore feed from Sayona Québec's (SYQ) wholly owned Authier Lithium Project, located just 30 km from the NAL site. Initially, NAL will produce a lithium concentrate for general market conversion, however NAL will become a primary feed source for SYQ's integrated downstream refined lithium products. Key outcomes of the PFS include an estimated pretax NPV of CAD 952 million (AUD 1.05 billion as at 23 May 2022) (8% discount rate), a pretax IRR of 140% and capital payback period within two years. The life of mine has been extended to 27 years, based on an estimated JORC Proved and Probable Ore Reserves of 29.2 Mt @ 0.96% Li2O (Proved Reserve 1.2Mt @ 0.92% Li2O and Probable Reserve 28.0Mt @ 0.96% Li2O). The above includes conservative allowances for non (or low) mineralised diluted material from the upper and lower contact of the pegmatite /mining horizon. Sayona will implement a ROM (runofmine) ore stockpile management system whereby diluted material, lower grade ore and highergrade feed will be segregated and managed via a stockpile management plan to ensure consistent feed to the plant. This will allow for production campaigns of similar material, providing the concentrate plant sufficient feed stock to maximise product recovery and grade. The PFS has assessed strategic options for development, determined an economic open pit mine operation, production schedule and site layout for the preferred option. All works completed to date form the basis for progressing to a Definitive Feasibility Study (DFS), with a further refined overall accuracy of +/15%. Sayona plans to further tighten the overall accuracy via completion of the DFS, expected later in 2022. The JORC Code 2012 Edition prescribes that a PreFeasibility Study (PFS) is a lower level of confidence than a Definitive Feasibility Study (DFS), however would normally contain mining, infrastructure and process designs completed with sufficient rigour to serve as the basis for an investment decision or to support progression of project financing. The PFS has been completed by independent consultants BBA to an accuracy of +/30%, with contributions from a number of leading industry service providers. The Ore Reserve Estimate has been estimated by Ms Mélissa Jarry, P.Eng.

May 18

Jervois Global Limited Commences BFS for Refinery Expansion At Kokkola

Jervois Global Limited announced it is commencing a Bankable Feasibility Study ("BFS") to expand production of refined cobalt at the Kokkola Industrial Park, Finland. Jervois' 100%-owned subsidiary, Jervois Finland, is a leading supplier of high quality cobalt- based products, with advanced technological capabilities, product quality and reliability, and a strong commitment to high environmental and sustainability standards. Jervois Finland has more than 50 years' experience in cobalt production at Kokkola, with a global customer base across rechargeable batteries, chemicals, catalysts, ceramics and powder metallurgy applications. The BFS will assess the potential expansion of Jervois Finland's production via construction of a new refinery that is proximite to the location of its current facilities in the Kokkola Industrial Park. Expansion is expected to be the addition of a minimum of 6,000 metric tonnes of annual cobalt refining capacity, and would be separate from Jervois' existing commercial relationships. An expansion of refining capacity is expected to be available in conjunction with forecast expansion of cobalt demand for the second half of this decade. Expanding Jervois Finland's production capacity advances the Company's strategy to become a globally significant supplier of speciality chemicals and advanced manufactured cobalt products into battery and other industries, alongside development of its Idaho Cobalt Operations("ICO") in the United States, which is due to commence cobalt concentrate production in third quarter of 2022. Jervois has also recently announced the outcome of the BFS for the Stage 1 restart of the São Miguel Paulista ("SMP") Nickel and Cobalt refinery in Brazil, which Jervois is in the processing of acquiring. Jervois Finland's flexible downstream platform in advanced cobalt material production capacity represents a unique advantage. The refinery will be physically connected to Jervois Finland's existing advanced manufacturing plants, to allow greater optimization of existing product line capacity at both the powder and chemical plants. Jervois Finland has finished product capacity of 11,000 metric tonnes per annum of contained cobalt. Higher refined production will lead to greater flexibility to adapt to end user demands, and to continuously optimize product mix. Jervois Finland's existing ESG framework, including responsible sourcing, will cover the expanded refinery operations and input requirements. Kokkola's proposed expansion will lead to Jervois' increased participation in circular "closed loop" recycling, where cobalt material is used by customers and returned to Jervois Finland for regeneration. About 10-15% of the cobalt inputs are anticipated to be received as recycled units, similar to the ratio currently being processed in Jervois Finland's existing operations. Expansion timing will be determined under the BFS, but will not require any near-term material financial investment for Jervois. Technical partner selection processes in Finland are underway, covering key workstreams such as flowsheet piloting, process engineering and environmental and other permitting. Initial commercial discussions with both final product customers and refinery feed suppliers (including recyclers) are also underway.

Australian (ASX) Diversified Metals and Mining Industry Analysis

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Latest News

LYC

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GAL

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CHN

Consensus forecasts updated

SYA

Sayona Mining Limited Announces A Positive Prefeasibility Study (PFS) for its Flagship North American Lithium (NAL) Project in Québec, Canada

IGO

IGO Limited Announces First Battery Grade Product from Kwinana Refinery

MIN

Mineral Resources Limited Announces Executive Appointments

BHP

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LKE

Lake Resources (ASX:LKE) Is In A Good Position To Deliver On Growth Plans

JRV

Jervois Global Limited Commences BFS for Refinery Expansion At Kokkola

ILU

Independent Non-Executive Director recently bought AU$60k worth of stock

PLS

Pilbara Minerals and Calix Announces $20 Million Australian Government Modern Manufacturing Initiative Grant Awarded

CXO

Core Lithium Ltd. Announces Finniss Project Development Update

NIC

Consensus forecasts updated

AGY

Argosy Minerals Limited, Annual General Meeting, May 31, 2022

5EA

No longer forecast to breakeven

AKE

Allkem Limited to Commence Three-Phase Resource Extension Drilling Program and Announces Resource Update