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,

    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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