National Bank Financial on Monday maintained its outperform rating on the shares of American Lithium (LI.V, AMLI) and its C$1.50 price target after the company offered an operational update for its properties in the United States and Peru.
"American Lithium provided a positive update on operating activities at its projects this morning. A public announcement from the Peruvian Supreme Court on the administrative and judicial processes over the 32 concessions that affect Falchani (26% of our NAV) and Macusani (not included in our NAV) is expected following the conclusion of the formal appeal process. At TLC, an updated mineral resource estimate (MRE) is expected to be completed in November and at Macusani, the company has engaged with interested parties on a potential spinout of the asset to strengthen the balance sheet. We expect a positive update from the Supreme Court (currently not reflected in our valuation) to be a positive rerating catalyst for the stock," analyst Mohamed Sidibe wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 0.97, Change: -0.08, Percent Change: -7.62
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