Global Lithium Resources Needs Market Turnaround to Sanction Manna Project -- Market Talk

Dow Jones07-24

2301 GMT - Global Lithium Resources' ability to reach a final investment decision on its Manna project likely hinges on a near-term rebound in lithium markets, according to Jefferies. The company continues to reduce risks to the project ahead of the outcome of a definitive feasibility study in coming months. "We expect several project improvements to materialize including increased recoveries, higher concentrate production and better open pit and underground mining economics," analysts Daniel Roden says. "However, weak lithium markets driven by accelerating supply growth and softer demand growth than expected is likely to impact FID if market improvement doesn't substantiate by year-end." Jefferies retains a "buy" call on the stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 23, 2024 19:01 ET (23:01 GMT)

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The company continues to reduce risks to the project ahead of the outcome of a definitive feasibility study in coming months. \"We expect several project improvements to materialize including increased recoveries, higher concentrate production and better open pit and underground mining economics,\" analysts Daniel Roden says. \"However, weak lithium markets driven by accelerating supply growth and softer demand growth than expected is likely to impact FID if market improvement doesn't substantiate by year-end.\" Jefferies retains a \"buy\" call on the stock. 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