Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) has earned a repeat ‘Outperform’ rating from Noble Capital analysts who see the company poised to build on a successful 2024 in the new year.
They see the stock surging more than 1,100% from its share price at the time of writing of $0.19 to $2.35.
“Angel Island is one of a few advanced lithium projects being developed in the United States to provide an end-to-end process to produce battery grade lithium,” they wrote in a note to clients.
“Century Lithium is actively engaged with potential strategic partners and end-users for product testing, while pursuing government funding opportunities through the US Department of Energy and US Department of Defense.”
Analysts noted Century Lithium’s “productive year,” with two significant achievements being the completion of the feasibility study on the Angel Island lithium project and producing battery-grade lithium carbonate at its pilot plant.
“The feasibility study was released in April and while the economics were compelling, the company continues to focus on process optimization to improve potential returns by reducing the project’s estimated capital and operating costs,” they wrote.
“The use of a Chlor-alkali plant is unique and offers technical and environmental advantages by producing reagents for use onsite and producing surplus sodium hydroxide which can be sold to offset cash operating costs.”
Analysts added that on the environmental and permitting front, most of the required baseline studies for Angel Island have been completed.
The company is editing a draft Plan of Operations and preparing key state permits for pollution and water quality. Once the Draft Plan of Operations is completed, Century Lithium may initiate the National Environmental Policy Act permitting process.