Source: Streetwise Reports 05/01/2019
The quantified resource and upcoming stock catalysts were provided in a ROTH Capital Partners report.
In a April 24 research note, ROTH Capital Partners analyst Joe Reagor reported that Piedmont Lithium Ltd.’s (PLL:NASDAQ; PLL:ASX) just-released initial resource estimate “demonstrated the quality of the Central property deposit.”
The Central property, in Northern Carolina, has a maiden resource of 2.8 million tons with an average grade of 1.34% lithium dioxide, a grade that is higher than that of the Core property located 1 mile to the north, Reagor indicated.
As such, ROTH maintains its $30 million valuation of Central, noting the number is likely low. “However, we are not increasing this valuation at this time as we believe further work is needed to demonstrate this property’s economics,” he added.
Reagor suggested the next catalyst for Piedmont’s stock will be the release of an updated resource estimate for Core, expected in June 2019. That likely will lead to a share price increase “as many investors believe the current resource at the Core property is on the small side,” he explained. Piedmont likely will follow that with an economic study update that incorporates the new resource data.
ROTH has a Buy rating and a $36 per share price target on Piedmont, whose current share price is around $10.10.
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Piedmont Lithium, a company mentioned in this article.
Disclosures from ROTH Capital Partners, Piedmont Lithium Ltd., Flash Note, April 24, 2019
Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
ROTH makes a market in shares of Piedmont Lithium Limited and as such, buys and sells from customers on a principal
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
( Companies Mentioned: PLL:NASDAQ; PLL:ASX,