RE:New $3 Price Target from Cantor Thanks Kakoo,
I read the full report earlier today, let's not forget that the $3 Buy rating is in a big part based on the present feasilbility study NAV. In the latest news release Cre states among other things that a new feasibility study will be released with updated lithium market pricing. Cantor like every other pundit out there states that this is also a Buy based on the fact that we are trading at .4x NAV where industry peers are now trading at .9x NAV. One thing that is also of interest to us as we get into the later stages of the game is that industry peers now in production trade at 1.3x NAV.
"We expect that as CRE moves through its final permitting it will be in a good position to attract project financing and/or a development partner which should allow multiple expansion and the price to gap up to be in-line with peers."
Once the feasibilty study is released we are looking at a substantial increase in NAV, then once we close the gap to our peers could be in for some major excitement and $3 will quickly be in the rear view mirror.