Long trade to $0.35-0.40 (CAD) and watch for higher
Nevada Lithium Resources continues to add to and refine their economics. Recent drilling show a dramatic increase in Li-ppm (approx 2x) in their minable zone, and the team is now testing for Li-bearing brines. The Bonnie Claire deposit was ranked #3 world's largest Li-bearing sediment deposit in the world, and they continue to grow and will likely take the #1 spot with infill drilling.
nevadalithium.com/news-2023/nevada-lithium-intersects-3076-ppm-lithium-over-1100ft-335-m-within-2219-ppm-lithium-over-1740-ft-530-m/
Current PA demonstrates strong positive CDV and RSI correlating with recent price increase. It is reasonable to expect a rise back to recent highs. This will make the 3rd test of the 0.35CAD resistance level. If and when this level breaks, it could be a blue skies run to 0.71CAD (150M market cap) and beyond.
Considering their NPV of ~$3 billion USD, a 20% market valuation equates to approximately 2.84USD per share or 3.83CAD.
nevadalithium.com/news-2023/nevada-lithium-intersects-3076-ppm-lithium-over-1100ft-335-m-within-2219-ppm-lithium-over-1740-ft-530-m/
Current PA demonstrates strong positive CDV and RSI correlating with recent price increase. It is reasonable to expect a rise back to recent highs. This will make the 3rd test of the 0.35CAD resistance level. If and when this level breaks, it could be a blue skies run to 0.71CAD (150M market cap) and beyond.
Considering their NPV of ~$3 billion USD, a 20% market valuation equates to approximately 2.84USD per share or 3.83CAD.
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