ALK Alkemy Capital Investments Plc

TIDMALK

RNS Number : 0300R

Alkemy Capital Investments PLC

24 October 2023

24 October 2023

Alkemy Capital Investments Plc

Research Coverage by VSA Capital

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is pleased to announce that international investment banking and broking firm, VSA Capital (" VSA "), has published an updated research note on the Company.

The research note follows recent announcements from Alkemy regarding advancements on feedstock negotiations for Tees Valley Lithium's lithium hydroxide refinery in Teesside and the completion of a class 4 feasibility study for Port Hedland Lithium's lithium sulphate refinery located at the Boodarie Strategic Industrial Area in Western Australia.

VSA commented:

"The progress is positive and as yet the market has not priced in success. We continue to believe that the company's strategy positions it to achieve these major milestones that would unlock significant value and expedite the project financing process and options.

Currently, little of the recent progress in terms of engineering studies, planning permission and feedstock has been reflected in the share price.

We reiterate our Speculative Buy recommendation and increase our target price to GBP15.30/sh. "

The initiation note is available to view here: www.alkemycapital.co.uk/investors/analyst-coverage

Further information

For further information, please visit the Company's website: www.alkemycapital.co.uk or www.teesvalleylithium.co.uk

-Ends-

 
Alkemy Capital Investments Plc  Tel: 0207 317 0636 
                                 info@alkemycapital.co.uk 
SI Capital Limited              Tel: 0148 341 3500 
VSA Capital Limited             Tel: 0203 005 5000 
 

NOTES TO EDITORS

Alkemy is seeking to establish the world's leading independent and sustainable lithium hydroxide production by developing state-of-the-art lithium sulphate and lithium hydroxide facilities in Australia and the UK.

Alkemy, through its wholly-owned UK subsidiary Tees Valley Lithium, has secured a 9.6 ha brownfields site with full planning permission at the Wilton International Chemicals Park in Teesside, a major UK Freeport, to build the UK's first and Europe's largest lithium hydroxide processing facility. Tees Valley Lithium has completed a Class 4 Feasibility Study for its proposed lithium hydroxide refinery which will process feedstock imported from various sources to produce 96,000 tonnes of premium, low-carbon lithium hydroxide annually, representing around 15% of Europe's projected demand.

Alkemy, through its wholly-owned Australian subsidiary Port Hedland Lithium, has secured a 43.7 ha site near Port Hedland, Western Australia to build a world-class sustainable lithium sulphate refinery that will provide reliable feedstock for Tees Valley Lithium's refinery. Port Hedland Lithium has completed a Class 4 Feasibility Study for its proposed lithium sulphate refinery, each train of which will process spodumene concentrate to produce 40,000 tonnes of lithium sulphate annually.

Forward Looking Statements

This news release contains forward--looking information. The statements are based on reasonable assumptions and expectations of management and Alkemy provides no assurance that actual events will meet management's expectations. In certain cases, forward--looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Alkemy believes the expectations expressed in such forward--looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Mining exploration and development is an inherently risky business. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions to pursue mineral exploration on the relevant property and the ultimate exercise of option rights, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Alkemy will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward--looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.

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October 24, 2023 02:05 ET (06:05 GMT)

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