Credit Suisse assesses the scoping study is further supportive of a stage 3 expansion of processing rates at Pilgangoora to 7.5mtpa in production to 1.2mtpa of spodumene concentrate.
The stock remains the broker’s top pick in the lithium space and the study, while early stage, serves to highlight the potential of the Pilgangoora resource.
Outperform rating and $1.15 target maintained.
Sector: Materials.
Target price is $1.15.Current Price is $0.71. Difference: $0.44 – (brackets indicate current price is over target). If PLS meets the Credit Suisse target it will return approximately 38% (excluding dividends, fees and charges – negative figures indicate an expected loss).
