Morocco’s ministerial committee upholding the environmental approval for Emmerson plc’s potash project and referring it back to the original body, CRUI, is another step forward believes Liberum.
“In our view, this is a positive development, if second prize to outright approval, in that it allows Khemisset to move forward,” said the broker.
Last month, Emmerson unveiled a transformational processing solution that removes two of the CRUI’s key points of concern, notes Liberum, thereby strengthening the case for environmental approval.
Buy with a 17.8p price target, suggests the broker.
Shares were unchanged at 2.8p.