REG - Alkemy Capital Invs. - VSA lifts target price to £15.30 per share

Alkemy Capital InvestmentsAnnouncement

24/10/2023 07:00

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RNS Number : 0300R  Alkemy Capital Investments PLC  24 October 2023

 

 

24 October 2023

 

Alkemy Capital Investments Plc

 

 

Research Coverage by VSA Capital

 

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is pleased to
announce that international investment banking and broking firm, VSA Capital
("VSA"), has published an updated research note on the Company.

The research note follows recent announcements from Alkemy regarding
advancements on feedstock negotiations for Tees Valley Lithium's lithium
hydroxide refinery in Teesside and the completion of a class 4 feasibility
study for Port Hedland Lithium's lithium sulphate refinery located at the
Boodarie Strategic Industrial Area in Western Australia.

VSA commented:

"The progress is positive and as yet the market has not priced in success. We
continue to believe that the company's strategy positions it to achieve these
major milestones that would unlock significant value and expedite the project
financing process and options.

Currently, little of the recent progress in terms of engineering studies,
planning permission and feedstock has been reflected in the share price.

We reiterate our Speculative Buy recommendation and increase our target price
to £15.30/sh."

 

The initiation note is available to view here:
www.alkemycapital.co.uk/investors/analyst-coverage
(http://www.alkemycapital.co.uk/investors/analyst-coverage)

 

 

Further information

 

For further information, please visit the Company's website:
www.alkemycapital.co.uk (http://www.alkemycapital.co.uk) or
www.teesvalleylithium.co.uk (http://www.teesvalleylithium.co.uk)

-Ends-

 

 

 Alkemy Capital Investments Plc  Tel: 0207 317 0636

                                 info@alkemycapital.co.uk (mailto:info@alkemycapital.co.uk)
 SI Capital Limited              Tel: 0148 341 3500
 VSA Capital Limited             Tel: 0203 005 5000

 

 

 

NOTES TO EDITORS

 

Alkemy is seeking to establish the world's leading independent and sustainable
lithium hydroxide production by developing state-of-the-art lithium sulphate
and lithium hydroxide facilities in Australia and the UK.

 

Alkemy, through its wholly-owned UK subsidiary Tees Valley Lithium, has
secured a 9.6 ha brownfields site with full planning permission at the Wilton
International Chemicals Park in Teesside, a major UK Freeport, to build the
UK's first and Europe's largest lithium hydroxide processing facility. Tees
Valley Lithium has completed a Class 4 Feasibility Study for its proposed
lithium hydroxide refinery which will process feedstock imported from
various sources to produce 96,000 tonnes of premium, low-carbon lithium
hydroxide annually, representing around 15% of Europe's projected demand.

 

Alkemy, through its wholly-owned Australian subsidiary Port Hedland Lithium,
has secured a 43.7 ha site near Port Hedland, Western Australia to build a
world-class sustainable lithium sulphate refinery that will provide reliable
feedstock for Tees Valley Lithium's refinery. Port Hedland Lithium has
completed a Class 4 Feasibility Study for its proposed lithium sulphate
refinery, each train of which will process spodumene concentrate to produce
40,000 tonnes of lithium sulphate annually.

 

 

 

 

Forward Looking Statements

This news release contains forward‐looking information. The statements are
based on reasonable assumptions and expectations of management and Alkemy
provides no assurance that actual events will meet management's expectations.
In certain cases, forward‐looking information may be identified by such
terms as "anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Alkemy believes the expectations
expressed in such forward‐looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected.
Mining exploration and development is an inherently risky business. In
addition, factors that could cause actual events to differ materially from the
forward-looking information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property and the
ultimate exercise of option rights, which may include changes in market
conditions, changes in metal prices, general economic and political
conditions, environmental risks, and community and non-governmental actions.
Such factors will also affect whether Alkemy will ultimately receive the
benefits anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the forward‐looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on forward-looking information.

 

 

 

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