Atlantic Lithium has received a share price target upgrade from Liberum after the upgrade to the resource at its Ewoyaa deposit in Ghana.
Liberum has raised its target to 57p based on a new preliminary 3Mtpa DFS case (from 46p).
The broker adds this would be 78p/share at a flat spodumene concentrate (6% Li2O, ‘SC6’) price of US$1,500/t FOB but adds the current spot price is US$5,970/t while US$8,299/t SC6-Eq was recently achieved by Pilbara Minerals.
'Buy' is the broker’s investment view.