On relative valuations, there is soo much upside for some of the South American Lithium companies such as GLN, LPI, Lithium South and Bearing Lithium.
Just compared to Lake Resources, there is about 3x upside, whereas if we compare it to the Neo Lithium take over, there is 2x upside from here.
By my estimates, GLN market cap is 1.6x HMW NPAT at full production and at 1.0x for HMW and Candelas. Our biggest issue will be funding, which is the same issue for a lot of the other South American companies.
Recently, there has been a flurry of funding for the African miners (AVZ and FFX), and if we get similar deals, we will essentially be giving up half the project for capex funding. That would still mean at maturity (2025 onwards), share prices should be more than 5x higher than here.
Canaccord research report target $2.60/share, page-129
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Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $78.20M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 17.0¢ | 16.0¢ | $322.1K | 1.957M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 737605 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 67107 | 3 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| GLN (ASX) Chart |