The Globe and Mail reports in its Friday, June 7, edition that National Bank analyst Mohamed Sidibe has commenced coverage on Patriot Battery Metals with an "outperform" recommendation and $12 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target Patriot Battery shares at $15.67. Mr. Sidibe says in a note: "We derive our price target using a 0.85 times NAV multiple on our depreciable asset NAV of $12.06 per share to which we add our other and corporate adjustments at par. Our target multiple represents a slight premium to peers at similar stage of exploration/development's multiple given the scale and quality of the asset evidenced by the strategic investment made by Albemarle in the company in August, 2023. We expect the company to outperform peers in the space given its exploration potential, its current limited exposure to volatile lithium prices and its strong balance sheet that should isolate it from near-term financing dilution. We expect a resource update on the existing CV5 deposit, as well as an expected maiden resource estimate on the CV13 cluster which has been returning positive drill results to date in August, 2024."