logo-loader
viewMillennial Lithium

Liberum Capital ups target price for Millennial Lithium Corp to $2.40 from $2.20, reiterates Buy rating

Liberum analyst Ben Davies: “We believe that we are at a cyclical low for the commodity and that the current share price is an attractive entry point”

Lithum periodic table
Millennial Lithium shares closed Toronto trading on Monday at $1.52

London broker Liberum Capital has raised its target price for Millennial Lithium Corp (CVE:ML) (OTCQB:MLNLF) to $2.40 from $2.20 and reiterated a Buy rating on the Toronto-listed stock following the publication of a feasibility study for the Pastos Grandes project.

In a note to clients, Liberum analyst Ben Davies pointed out that the feasibility study, which gave cost estimates for capex and opex at the project, confirmed “robust economics, lower than those used in our company valuation.”

The analyst noted that the next step for the company is gaining the relevant environmental approvals before the end of the year and finalising the targeted financing structure.

He concluded: “We believe that we are at a cyclical low for the commodity and that the current share price is an attractive entry point”.

In Tuesday trading, Millennial Lithium shares were 6.6% higher at $1.62.

 -- Updates share price --

Contact Jon Hopkins at [email protected]

Quick facts: Millennial Lithium

Price: 1.38 CAD

TSX-V:ML
Market: TSX-V
Market Cap: $114.88 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Millennial Lithium named herein, including the promotion by the Company of Millennial Lithium in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Millennial Lithium moving fast towards feasibility at its Pastos Grandes project

Farhad Abasov, president and chief executive of Millennial Lithium Corp (CVE: ML), discusses progress at the company's flagship Pastos Grandes as well as the Cauchari East projects with Proactive's Andrew Scott. Abasov says they've acquired more land to the south of Pastos Grandes so are...

on 10/8/18

2 min read