Globe says American Lithium seen as a “compelling” play

Feb 1, 2023

2023-01-31 08:25 ET – In the News

The Globe and Mail reports in its Tuesday edition that Echelon analyst Gabriel Gonzalez rates American Lithium “speculative buy,” with a $7.75 share target. The Globe’s David Leeder writes that Mr. Gonzalez notes that American Lithium has “two of the largest Americas-based lithium projects under development.” Mr. Gonzalez says in a note: “We see the scale of American Lithium’s projects, which potentially represent up to 110,000 tonnes/year of LCE production, their upcoming development/derisking catalysts, coupled with an expected and persistent global demand and supply deficit, as providing a compelling case to invest in the company. Against a backdrop of historically high lithium prices and bullish sector sentiment, the shares are trading slightly below their 52-week range of $1.56 per share to $4.49 per share. Our target price represents an 85-per-cent potential estimated return.” The Globe reported on Dec. 10, 2021, that Echelon’s Michael Mueller had started coverage on American Lithium with a “speculative buy” recommendation. He called American Lithium a diversified developer with a “nuclear option” at its Macusani project in Peru. The shares could then be had for $4.99, up $4 over the previous six months.

https://americanlithiumcorp.com/