Emmerson referring its environmental application for the Khemisset potash project in Morocco to a national-level ministerial committee is a positive, believes house broker Liberum.
According to the broker, the Prime Minister-led body would not only be best placed to take into account national strategic considerations but should also be able to act swiftly and decisively.
Emmerson remains confident of receiving ESIA approval, notes Liberum, adding that the national committee is a body that will consider Morocco’s strategic national interest and international investment image.
Buy with a target price of 11.8p, down from 12.4p, is Liberum’s view.