China Molybdenum Co Ltd Class A603993
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Company released interim report with strong net profit of 16.152 billion yuan.
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China Molybdenum Co Ltd Class ATheme Impact 1
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Equinor and Standard Lithium Report Positive PEA for Texas Franklin Project
Equinor and its partner Standard Lithium announced a positive Preliminary Economic Assessment for the Franklin lithium project in Texas, operated through their joint venture Smackover Lithium. The project targets production of battery-quality lithium carbonate at large scale, and Equinor framed the PEA as a key step in its move beyond traditional oil and gas toward critical battery minerals exposure. The assessment outlines a US$3.5b initial investment, with production that may not start until the early 2030s. Equinor, a large energy producer with a NOK995.7b market cap focused on oil and gas operations in Norway and internationally, now faces the question of whether the partners will advance Franklin from PEA to a full feasibility study and then toward a final investment decision, with a SWA Project decision planned for late 2026.
5impact 4
US, Denmark and Greenland Reach New Security Agreement, Replacing 1951 Pact
The United States has reached an agreement with Greenland and Denmark that will open the way for the US to permanently expand its military and security role on the island of Greenland, while blocking the influence of adversary nations. The three parties are expected to sign jointly during the United Nations General Assembly in New York next week, and the new agreement will replace the 1951 Greenland Defense Agreement. The US State Department stated that the agreement will prohibit countries that are not members of the North Atlantic Treaty Organization, or NATO, from establishing bases or stationing troops in Greenland, and will also bar non-allied countries from investing in mining and critical minerals. These conditions appear aimed at blocking China or Russia from accessing resources or establishing military footholds in Greenland. President Donald Trump posted a message stressing that the United States will be able to do everything necessary to ensure stability and protect the security of Greenland, as well as that of the United States, and confirmed that this is not a transfer of sovereignty or a cession of territory to the US. Meanwhile, Mette Frederiksen, the Prime Minister of Denmark, and Jens-Frederik Nielsen, the Prime Minister of Greenland, confirmed the agreement through a joint statement, with Frederiksen stating that the agreement will help strengthen security in the Arctic and North Atlantic region, while affirming the sovereignty and territorial integrity of the Kingdom of Denmark, as well as the right of Greenlanders to determine their own future.
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Albemarle Fair Value Cut 7.8% to US$172.56 as Analysts Reset Lithium Assumptions
Albemarle's fair value estimate has been revised down from US$187.16 to US$172.56, a reduction of about 7.8%, as analysts reset their lithium assumptions. The revision reflects updated modeling assumptions, with revenue growth revised from 7.91% to 5.15%, the net profit margin assumption shifted from 34.27% to 35.74%, the future P/E multiple changed from 11.57x to 10.30x, and the discount rate adjusted from 7.41% to 7.50%. Wall Street targets moved broadly lower: Truist cut its target to US$225 from US$245, Scotiabank trimmed its target to US$190 from US$200 while maintaining an Outperform view, RBC Capital reduced its target to US$166 from US$257 while keeping an Outperform rating, and BofA moved its target to US$155 from US$225. On the bearish side, Morgan Stanley cut its target to US$161 from US$189, Mizuho lowered its target to US$185 from US$205 with a Neutral stance, and JPMorgan reduced its target to US$140 from US$160 while maintaining a Neutral rating after updating its model following the Q2 report.