The Globe and Mail reports in its Wednesday, Feb. 23, edition that Echelon Capital analyst Michael Mueller, touting Alpha Lithium's "substantial foothold in the world's premier lithium brine region," began coverage with "speculative buy" recommendation and $1.80 share target. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mueller is the lone analyst covering the Vancouver-based company.
Mr. Mueller says in a note: "Having amassed an 32,500-hectare position in the core of Argentina's Lithium Triangle for less than $5-million of cash costs, Alpha is in an advantageous position of having claims in a region where M&A activity has significantly picked up over the past 12 months. The region is attractive for many reasons, including comparatively low cash operating costs and a proven ability to produce lithium chemicals from these brines. We also highlight that recent transactions in Argentina have fetched prices well above $20,000/ha for advanced projects."
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