Australia's Firefinch rises after J Capital issues long report on co

Firefinch

24/03/2022 01:10

** Shares of Firefinch  FFX.AX  climb as much as 5.1% to
A$0.930, their highest since Jan. 4
    ** Short-seller J Capital Research on Thursday published https://www.jcapitalresearch.com/uploads/2/0/0/3/20032477/2022_03_23_ffx.pdf
 a report on the gold and lithium miner's valuation  urn:newsml:reuters.com:*:nFWN2VQ0OF
    ** We believe Firefinch should be trading at a valuation of
between A$1.68 bln ($1.26 bln) and A$2.28 bln - J Capital 
    ** J Capital says "the political risk in Mali has scared
investors away from investigating the value of Firefinch"
    ** J Capital added that FFX's "under-appreciated" lithium
asset, Goulamina, alongside its operational gold mine, Morila,
are "significantly undervalued based on the current market
capitalization"
    ** FFX's current market cap is A$1.04 bln - Refinitv data
    ** Stock up for third consecutive session
    ** As of last close, FFX up ~2.3% so far this year
    
($1 = 1.3351 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))