EUROPEAN LITHIUM WKN: A2AR9A ISIN: AU000000EUR7 Kürzel: EUR Forum: Aktien Thema: Hauptdiskussion
The European lithium-ion battery industry is expanding fast to meet demand from the electric vehicle sector. European battery megafactories announced so far (more are expected to follow) are expected to generate lithium carbonate demand of 20k tonnes in 2021 and over 60k tonnes in 2025. European Lithium is well placed to become a supplier to these megafactories. The current JORC (2012) resource of measured 2.86m tonnes grading 1.28% Li2O and indicated 3.44m tonnes grading 1.08% Li2O supports annual average output of 7.1k tonnes Li2CO3 over a projected 13 year mine life at the Wolfsberg project. Based on a discounted cash flow model and assuming an average Li2CO3 price of USD15,500/tonne, we arrive at a valuation of €0.19 per share. Our recommendation is Add. There will be scope to raise our price target, if, as we expect, European Lithium raises its JORC resource to over 10m tonnes by the end of this year. Brisk timeline to production European Lithium (EUR) has scheduled the completion of baseline/environmental impact studies as well as permitting and the start of mine construction for Q1 2019. Management is targeting first production in 2020. Capital costs (still to be financed) are AUD54m for mine construction and AUD175m for the lithium carbonate conversion plant. Es hat schon öfters Studien gegeben die nicht eingetroffen sind, zb vom 07.03.2018 https://europeanlithium.com/research-report-first-berlin-equity-research/
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