Macquarie updates estimates to incorporate the FY21 results. The near-term catalysts include the securing of offtake and funding agreements amid a formal commitment to the development of Kathleen Valley.
The broker expects the first phase of development will focus on the 350,000tpa spodumene open pit and underground mine. Outperform rating and $1.70 target unchanged.
Sector: Materials.
Target price is $1.70.Current Price is $1.44. Difference: $0.26 – (brackets indicate current price is over target). If LTR meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
