Macquarie initiates coverage on Australia's Leo Lithium with 'outperform' rating

Leo Lithium

08/03/2023 02:42

** Analysts at Macquarie initiate coverage on Australian
lithium miner Leo Lithium  LLL.AX  with an "outperform" rating
and a price target of A$1.35 
    ** Brokerage expects the Goulamina Lithium project to
deliver first production in late 2024, with direct ship ore
(DSO) providing early cash flow in late 2023
    ** LLL is developing the Goulamina project in Mali in
partnership with Ganfeng Lithium Group  002460.SZ  via a joint
venture
    ** Brokerage says it expects Goulamina Stage 1 to ramp
production up to a ~500 kilo tonnes per annum run rate in the
first two years
    ** LLL stock down as much as 2.8% to A$0.520
    ** Stock up 10.3% this year, as of last close

    

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))