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Lithium Ionic Corp ( (TSE:LTH) ) has issued an announcement.
Lithium Ionic Corp. announced a $10 million non-brokered private placement financing, supported by prominent figures in the lithium industry, including Martin Rowley and RTEK International DMCC. This investment is a strong endorsement of the company’s growth strategy as it aims to become a near-term lithium producer in Brazil’s ‘Lithium Valley.’ The funds will be used for exploration and development of its Brazilian properties, potentially enhancing its position in the global lithium market.
The most recent analyst rating on (TSE:LTH) stock is a Buy with a C$2.15 price target. To see the full list of analyst forecasts on Lithium Ionic Corp stock, see the TSE:LTH Stock Forecast page.
Spark’s Take on TSE:LTH Stock
According to Spark, TipRanks’ AI Analyst, TSE:LTH is a Underperform.
The overall score is primarily weighed down by significant financial challenges, including persistent losses and cash flow issues. Technical indicators suggest a bearish trend, while valuation remains unattractive due to negative earnings. However, recent strategic corporate events may provide future growth opportunities, potentially offsetting some of the current financial weaknesses.
To see Spark’s full report on TSE:LTH stock, click here.
More about Lithium Ionic Corp
Lithium Ionic Corp. is a Canadian mining company focused on exploring and developing lithium properties in Brazil. Its flagship projects, Itinga and Salinas, are located in Minas Gerais, a region known for its significant hard-rock lithium deposits.
Average Trading Volume: 238,540
Technical Sentiment Signal: Hold
Current Market Cap: C$117.3M
Find detailed analytics on LTH stock on TipRanks’ Stock Analysis page.