MIN – Macquarie rates the stock as Outperform

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Macquarie is impressed with the ramp up at Mount Marion and expects further improvements are still to come. Wodgina is also benefiting from Mount Marion.

The broker believes the company is now well-placed to develop a spodumene plant in a much shorter time frame and for lower capital costs compared to Mount Marion.

Outperform rating. Target is raised to $16.30 from $16.00.

Sector: Commercial Services & Supplies.

Target price is $16.30.Current Price is $13.88. Difference: $2.42 – (brackets indicate current price is over target). If MIN meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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