Initiating Coverage
We are initiating coverage on Critical Elements Lithium Corp. with a BUY rating and C$6.00/sh target price. Critical Elements is focused on advancing its 100%-owned, flagship Rose Li-Ta project in the prolific, James Bay Region of Quebec. The Feasibility Study-stage project has received provincial government permits. It is slated to begin construction in H2/23 with the objective of producing ~2.8Mt of chemical and ~0.8Mt of technical lithium concentrate, with ~1.45M kg of tantalum concentrate over a 17-year LOM. With the race for the development of critical minerals underway in North America as part of the green energy revolution, we expect the large, high purity Rose deposit to play a crucial role in supplying the ceramics, battery storage and EV industry in the coming years.
