Initiating Coverage
We are initiating coverage on Bradda Head Lithium Ltd. (AIM:BHL, OTCQB:BHLIF) with a BUY rating and £0.45 target price, representing 169% upside from the current share price. Bradda Head is a relatively new, pure-play Li company with projects in AZ and NV. Its projects span the full spectrum of Li deposits: brines, pegmatites, and clays – providing it with several opportunities to create value. With drilling set to take place across all projects this year and multiple resource estimates planned, we believe Bradda’s share price could materially re-rate in 2022.