Canaccord lifts PT on Australia's Silex Systems as it backs capital raising

Silex Systems

13/03/2023 02:13

** Analysts at Canaccord Genuity lifts Silex Systems
 SLX.AX  Price Target to A$5.00 per share from A$4.69 per share;
retains 'Speculative Buy'
    ** The Australian tech-focussed company, on February 27,
completed A$120 million ($79.38 million) institutional placement
at an offer price of A$4.05 per share
    ** Brokerage says that the placement will enable the company
to bring forward commercial-scale pilot enrichment activities
    ** Says co has opportunity to complete pilot demonstration
project for uranium enrichment technology as early as mid-2024;
adds this paves way for commercial uranium enrichment in 2027
    ** Stock has risen 19.1% this year, as of last close 


($1 = 1.5117 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))