The Globe and Mail reports in its Thursday, Aug. 7, edition that BMO Capital Markets analyst Raj Ray resumed coverage on Lithium Ionic with an "outperform" recommendation and a $1.25 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $4.11. Mr. Ray says in a note: "The May 2024 Bandeira feasibility study outlined an attractive low-cost and low capex underground operation. The company is awaiting the final permit, which would allow it to commence construction (we model first production in Q2/27). Lithium Ionic stands out among peers with a relatively short timeline to first production. We believe the company will benefit from a second-mover advantage in the Minas Gerais region of Brazil, following in the footsteps of Sigma Lithium."