Stifel Nicolaus - Buy $10 The first double digit 12 month price target for Kelt
Kelt in advance of development drilling has been putting in the correct infastructure for a speedy and efficient rampup of production.
They have done this at Wembley, where they are now drilling three pads in 2024, it now is happening again a Pouce Coupe North that has turned into a substantial play. and they are updating their battery there.
Is Kelt a backwards company? or are they simply not concerned about getting on the tread mill of quarterly numbers as developing the resource in a way that ultimately create the shareholders a pile of money.
In their presentaiton David Wilson refers to their Play areas as Divisions, that is because in his mind he already has a plan regarding how to monetize them.
Today a $10 dollar price target, but i think a lot more to come, and POUCE COUPE North has already turned into a good size Charlie Lake play and it happened quickly without a lot of expense.
Kelt is a zero risk play and have the resource that is represented in their $22.75 NAV, lot of reserves that in the Anual meets sounds very conservative booking.
12 dollars Q1 in 2025 that is my price target.
IMHO