Emmerson PLC's (AIM:EML) recent update has prompted Panmure Liberum to up its price target a smidgeon to 17p (from 16.9p).
The update contained the comment it is hopeful of receiving its environmental permit in the fourth quarter with an updated resource estimate also to be released.
Emmerson added it has been given to understand that the process is now reaching its conclusion, with the company “confident” that the result will be positive.
Panmure Liberum noted that final lab results from the second round of crop trials are also due.
Visual indications suggest that the results will further confirm the effectiveness of multi-nutrient products from the new KMP (Khemisset Multi-mineral Process) as sources of phosphate.
‘Buy’ is the Panmure recommendation. Shares are trading at 1.6p.