E3 Lithium up on Clearwater royalty acquisition

E3 Lithium

04/10/2022 15:03

** Shares of E3 Lithium Ltd  ETL.V  up ~4.75% at C$2.43 -
their biggest pct rise in over a month
    ** ETL says it has acquired Clearwater project's gross
overriding royalty for C$800,000 ($586,381.29)  urn:newsml:reuters.com:*:nCNW6RRGKa
    ** Value of the royalty would have been approximately C$8.5
mln per year in 2020, as per ETL's preliminary economic
assessment
    ** Using recent lithium prices, however, the royalty would
be significantly higher
    ** Three out of 3 brokerages rate the stock "buy"; their
median PT is C$9.23
    ** Accounting for session gains, stock up 5.65% YTD
($1 = 1.3643 Canadian dollars)
 (Reporting by Arshreet Singh in Bengaluru)
 ((arshreet.singh@thomsonreuters.com
Twitter: https://twitter.com/Arshreets))