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Stormcrow Capital has initiated coverage of Nemaska Lithium (TSXV:NMX), stating that the company “represents the New Wave of lithium production.” Stormcrow gave the company a price target of C$0.54. Nemaska’s stock is currently trading near its 52 week high, at $0.28.
Stormcrow Capital has initiated coverage of Nemaska Lithium (TSXV:NMX), stating that the company “represents the New Wave of lithium production.” The firm gave the company a price target of C$0.54. Nemaska’s stock is currently trading near its 52 week high, at $0.28.
As quoted in the report:
Nemaska’s Whabouchi Project will use a welltrodden technology, membrane electrolysis, to convert hard-rock lithium ore to lithium hydroxide. This technology has already been proven in pilot-scale work in Canada, but the company plans to reduce time-to-market even further by building a Phase I commercial demonstration plant that will reduce commissioning time for the full commercial plant while providing qualification samples for customers. For the price, our analysis suggests this strategy is undeniably the right one.