I guess KLL approached Morgans when the 120kpta expansion...

I guess KLL approached Morgans when the 120kpta expansion funding was announced in August as Morgans assumed 100% equity funding and revised its price target down.

However, the analyst recently move its price target back up to 0.32 on the new of first production and rising SOP prices even with dilution of a 100% equity financed expansion.



I do agree with Servo now that the company should have aimed straight for production numbers in the hundreds of thousands of tonnes rather than going for 80-90,000. But I guess no one has hindsight in mind given Covid-19 and the energy crisis could have never been factored in in 2019.