CLA 6.45% 2.9¢ celsius resources limited.

New report out price target significantly upgraded

  1. 9,008 Posts.
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    Just had a very comprehensive  report on CLA come across my desk.

    Cobalt commodity is best performing of all the metals at the moment, http://www.infomine.com/investment/metal-prices/cobalt/6-month/

    If you wanted to back anything this is the sector just be careful of pretenders.

    They have put an 11c target on CLA and essentially called it a no brainer and on a like for like basis are looking for 20c.

    Am told they are on a roadshow this week and talk is this will become a full blown mine from what's been found to date and what they believe is still there.

    Aesir’s starting price target is A$0.11/sh which equates to a roughly A$50m market cap. That is still less than Equator which has yet to drill a hole and it is not even 1/8 of CLQ. It would be hard for CLA to justify the capex required without a significant resource size so if this is going to work, one would think the resource would have to be 20mt or larger as a starting point and probably start with a high-grade zone.

    With those specs and on a like-for-like valuation with CLQ, CLA would be worth north of A$0.20/sh so we are comfortable with A$0.11/sh as a starting point until the asset is further developed and derisked. We will revisit this price target once a resource size is parameterized and we have more drill results to make grade inferences from.  

    Not sure how much of the report I can put on here but if people want me to expand on anything just shout out, don't want to dump the whole thing at once.
 
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