Long trade to $0.35-0.40 (CAD) and watch for higherNevada Lithium Resources continues to add to and refine their economics. Recent drilling show a dramatic increase in Li-ppm (approx 2x) in their minable zone, and the team is now testing for Li-bearing brines. The Bonnie Claire deposit was ranked #3 world's largest Li-bearing sediment deposit in the world, and they continue to grow and will likely take the #1 spot with infill drilling.
nevadalithium.com
Current PA demonstrates strong positive CDV and RSI correlating with recent price increase. It is reasonable to expect a rise back to recent highs. This will make the 3rd test of the $0.35CAD resistance level. If and when this level breaks, it could be a blue skies run to $0.71CAD ($150M market cap) and beyond.
Considering their NPV of ~$3 billion USD, a 20% market valuation equates to approximately $2.84USD per share or $3.83CAD.
