Petra Capital did a research paper on LEL late April. Only holes 1 and 2 were done at that time!!
They were expecting 2MT LCE.
PT was $2.84
With the drop in lithium prices they revised their report in early May!
(NOTE: however since this report Lithium prices have rebounded sharply)
Their 2MT LCE estimate is rather low, when AKE got 2.8MT LCE from Mario Angel recently.
I believe the interim resource statement (based on the 5 holes and possible 6th hole) will be at least 3MT LCE and possibly even 4MT LCE.
If that is the case i expect a broker paper upgrade in its price target to at least $2.50 or $3.00
The advantage we have is, it is in a proven Salar, with Allkem and Lithium America's producing lithium.
The other key point is that infrastructure has been put in place already!!
Petra Capital did a research paper on LEL late April. Only holes...
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