PFE’s unlisted US lithium shares worth more now?
Our US critical minerals Investment Pantera Lithium (ASX: PFE) has just provided an update on the value of its recent US lithium asset sale to US based EnergyX.
PFE recently completed the sale of its US lithium asset to US based Energy Exploration Technologies (EnergyX).
At the time that deal saw PFE receive $40m in value, split:
- $2m in cash (already received)
- $2m in cash to be received in July 2026.
- $2m in cash to be received in July 2027, AND
- A$34M in private unlisted EnergyX stock.
Being unlisted means we don't really get a live update on the value of PFE’s shareholding in EnergyX.
BUT PFE just announced that EnergyX is increasing the price of its current capital raise to somewhere between US$10.00 to US$11.00 per share.
That is a 15.8% (AUD) increase in the price PFE received its shares at (US$9.50 per share).
PFE holds 2.34M EnergyX shares which at that revised US$11 capital raise pricing would be worth US$25.74M, up from US$23.4M for the US$10 price proposed prior.
(A$39.75M up from the prior proposed raise price which put the value at A$36.12).
With the shares initially being valued at A$34M, this is an increase of ~$5.75M.
PFE is currently capped at ~$11M.
So the market is still trading PFE well below the value of its EnergyX shareholding - and that's before we consider any value ascribed to PFE’s newly acquired US critical minerals projects.
See our note on PFE’s newly acquired projects containing 18 historic silver-antimony mines here: PFE: Announces new USA land package with 18 historic antimony and silver mines…
The 7 Reasons We Invested in PFE
- PFE has US critical minerals projects prospective for antimony and silver.
- Historic mining activity BUT no modern exploration done on PFE’s new projects
- PFE has acquired and sold assets in Arkansas, USA before
- Capital is flowing into US critical materials macro thematic
- IF PFE attracts capital and re-rates to a valuation high enough it could acquire more advanced assets
- We think it's the right time in the bull market cycle to get some exposure to exploration stocks
- Free kick on PFE’s lithium exposure that could re-rate in a strong lithium market
See our full note on the recent acquisition: PFE: Announces new USA land package with 18 historic antimony and silver mines….
What do we want to see PFE do next?
Target Generation on US critical minerals project
We want to see PFE sample, map and run geophysics on its US asset to identify drill targets.
Milestones:
🔲 Mapping and sampling (soil and rock chips)
🔲 Geophysics
🔲 Drill targets confirmed
Drilling on PFE’s US critical minerals project
After PFE has identified priority drill targets, we want to see the company drill test the project.
Milestones:
🔲 Drill permitting
🔲 Drilling
🔲 Drilling results
