The Clock is Ticking once Again, page-83

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maxi1981

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24/05/18

03:42

Post #: 33281831
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Originally posted by rdncoic ↑

Upgraded to buy buy buy from add add add

First Berlin Equity Research has published a research update on European Lithium Limited (ISIN: AU000000EUR7). Analyst Simon Scholes upgraded the stock to BUY and maintained his EUR 0.19 price target. Abstract: Since we published our initiating coverage study on 7 March, European Lithium has published a preliminary feasibility study (PFS) of the Wolfsberg project, released drilling results for Zone 2 of the deposit, and announced the promotion of Dietrich Wanke from General Manager to CEO. The publication of a maiden inferred resource estimate for Zone 2 is scheduled before the end of the current quarter and a new drilling programme will start in Zone 1 over the next few weeks. The goal of the new Zone 1 drilling programme is to convert the inferred portion of the existing Zone 1 resource estimate into measured and indicated resource. The current JORC (2012) resource estimate for Wolfsberg is 2.86m tonnes measured grading 1.28% lithium oxide, 3.44m tonnes indicated grading 1.08% Li2O and 4.68m tonnes inferred grading 0.78% lithium oxide. Since the publication of the PFS, discussions with potential partners have intensified and management now expects that the most likely financing solution for the definitive feasibility study and bringing the mine to production is a partnership with/takeover by an industrial lithium user. Our price target of EUR0.19 is unchanged on our March initiating coverage study but is now based on average annual average output of 9,200 tonnes of lithium hydroxide monohydrate produced over a mine life of 11 years as described in the PFS (previously: 7,100 tonnes lithium carbonate over a 13 year mine life). Our recommendation rises to Buy (previously: Add) because the return potential is now above 25%. There will be scope to raise our price target, if, as we expect, European Lithium raises the measured and indicated part of its JORC resource to over 10m tonnes by the end of this year.

Original-Research: European Lithium Limited (von First Berlin Equity Research... | wallstreet-online.de - Vollständiger Artikel unter:
https://www.wallstreet-online.de/nachricht/10569467-original-research-european-lithium-limited-von-first-berlin-equity-research

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Link to fully report:

https://europeanlithium.us9.list-ma...ff82dffbd215a8f035&id=97316f6052&e=09f00a265b

EUR Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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Last 3.8¢		Change 0.005(15.2%)		Mkt cap ! $57.32M

Open	High	Low	Value	Volume
3.5¢	3.8¢	3.5¢	$144.2K	3.974M

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No.	Vol.	Price($)
4	613724	3.6¢

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Price($)	Vol.	No.
3.8¢	24211	3

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No.	Vol.	Price($)
4	235000	0.037
5	707518	0.036
8	210721	0.035
4	102072	0.034
4	90782	0.033

Price($)	Vol.	No.
0.040	200000	1
0.041	300000	2
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The Clock is Ticking once Again, page-83

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