We have a valuation range of A$0.83 - A$1.25 per share for LPI, with a mid-point of A$1.04 per share, with 90% ascribed to Maricunga. The recently completed drilling and tenement consolidation have highlighted the potential to significantly increase the current resource at similar grades to the existing – as part of the current final feasibility study LPI will be releasing an updated JORC 2012 compliant resource in Q2, 2017.

Since we initiated coverage on EAS in December 2015, the company’s share price has increased 44.2% on the back of the company creating value through a combination of acquisitions and organic growth.

While the company has taken significant steps to put themselves in a position to be a significant player in the emerging hemp extract and medicinal cannabis market, the company is in the early stages of growth and is operating in a highly competitive market. With the company undergoing product development and currently generating low levels of revenue, an investment in the company remains speculative

We have initiated coverage of SFL with a target price of $0.225, a 7% premium to the share price. The company has established the technology platform and systems to support several years of growth.

LMG will be the first and only magnesium producer in Australia and the extraction of magnesium from brown coal fly ash will be a world first.