Petra Capital's Valuation: 1.85 per share for the Lithium...

Petra Capital's Valuation: 1.85 per share for the Lithium (only):

"Petra Capital expects Firefinch's interest in the Goulamina Lithium Project in Mali will be spun out as Leo Lithium (LLL) on the ASX.

Petra Capital notes the company is trading below the media Enterprise Value/Reserve of $997/t for LCE which appears to reflect sovereign risk penalty associated with its Africa reserves.

Petra Capital's Firefinch valuation does not include the $420m valuation of the Morila gold mine.

Buy rating retained. Target price is $1.85."
Source: Fnarena

Gold considered, this implies (almost) a 100% upside.