Guess which ASX 300 lithium stock is up 64% in a month

MotleyFool03-14

Vulcan Energy Resources Ltd (ASX: VUL) shares are rising again on Thursday. In afternoon trade, the ASX 300 lithium stock is up 9% to $3.32. This means that its shares are up 64% since this time last ...

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As a result, the project has advanced to the \"Under Appraisal\" stage.\nMuch like recent funding packages that have been announced for Arafura Rare Earths Ltd (ASX: ARU) and Liontown Resources Ltd (ASX: LTR), this will potentially be a significant cash injection.\nThe ASX 300 lithium stock advised that the proposed financing could amount to up to 500 million euros (~A$825 million), pending the completion of due diligence, credit approval and legal agreement, and subject to EIB's governing bodies approval.\nIn response, Vulcan's CEO, Cris Moreno, said:\n\nWe welcome the support of the EIB. This is a strong and tangible signal of confidence at the European level for the Zero Carbon Lithium Project, and of its capability to enable a secure, domestic lithium supply chain for electric vehicle batteries for Europe. This progression in EIB's financial appraisal is a positive step forward in the sequence of our debt and project level equity financing for Phase One of the Project, which is anticipated to create millions of tonnes of carbon avoidance in the EV supply chain in the years to come.\n\nShould you buy Vulcan shares?\nUnfortunately, this ASX 300 stock isn't covered by any of the major brokers.\nBut one broker that does cover the company is Alster Research in Germany. While it hasn't released a note for a few months, it currently has a buy rating on its Frankfurt-listed shares with a price target of 12 euros. This is almost six times greater than its current share price 2.02 euros.\nHowever, investors may want to take such a price target with a pinch of salt right now. Particularly given that for its \"base case scenario, revenues are based on an average sales price at USD 25.00 thousand/ton of lithium hydroxide.\" This compares to the latest spot price of US$9,658 per tonne for lithium hydroxide in China.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2419161451"}