CLQ 3.92% 26.5¢ clean teq holdings limited

Target $1.50 Outperform rating

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    Macquarie initiated coverage on Clean TeQ Holdings (CLQ) with an Outperform rating and a $1.50 price target. CLQ offers a unique exposure to cobalt, with its Syerston project in NSW targeting first production in 2020. Securing cobalt sulphate offtake agreements is also likely to be a material catalyst for the stock. We expect some of the offtake agreements will come with some level of funding and note that our $1.50 price target assumes a 60/40 debt/equity funding split for the ~US$700m capex. A typical lithium-ion rechargeable battery with cobalt cathodes can hold twice the energy of a nickel-based battery and four times that of lead acid.
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Mkt cap ! $197.8M
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25.5¢ 27.5¢ 25.5¢ $308.3K 1.170M

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No. Vol. Price($)
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27.0¢ 35918 4
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Last trade - 16.10pm 25/09/2020 (20 minute delay) ?
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