Seeking Alpha Article

https://seekingalpha.com/article/4119062-birimian-limited-lithium-play-set-run


Birimian Limited: Lithium Play Set To Run

Nov. 1.17 | About: Birimian Ltd. (EEYMF)


FI Fighter

Deep Value, gold, commodities
FI Fighter

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Summary

Many lithium stocks have experienced a surge to the upside in recent months but some juniors like Birimian Limited have not responded to the bullish sentiment.
A confusing and uninspiring PFS halted share price momentum in the short term but an aggressive drilling campaign is currently underway, which could be the catalyst needed for a re-rating.
Birimian Limited is flying under the radar and offers good value relative to the valuation of its hard rock lithium peers.
Lithium stocks are on fire and many companies have significantly re-rated over these last few months. Since posting my last article, we have the seen the following impressive performance gains:

• Critical Elements (OTCQX:CRECF/CRE.V) is up 51%.
• AVZ Minerals (OTC:AZZVF/AVZ.AX) is up 551%.
• Pilbara Minerals (PILBF/PLS.AX) is up 113%.

Not to be forgotten, the fourth lithium stock I mentioned was Birimian Limited (OTC:EEYMF/BGS.AX), which although up an impressive 53% since emerging out of a prolonged trading suspension, is still greatly lagging its peers in terms of market cap.
At first glance, investors might suspect that Birimian Limited is nothing more than an early-stage exploration story, given its current market cap of ~A$70 million.
JORC Resource

On closer examination, though, one will quickly discover that Birimian already has a sizable JORC-compliant resource defined:

Source: Birimian Limited June 2017 Resource Update
Birimian has upgraded its resource twice since an initial resource was published in October 2016 and the total indicated and inferred resource now sits at 32.9 Mt at 1.37% Li2O.