Lithium Ionic Corp. Files Updated Mineral Resource Estimate for Bandeira Project

The latest update is out from Lithium Ionic Corp ( (TSE:LTH) ).

Lithium Ionic Corp. has filed an NI 43-101 compliant technical report for its Bandeira Lithium Project in Minas Gerais, Brazil, detailing an updated Mineral Resource Estimate. The report highlights measured and indicated resources of 27.27 million tonnes with a lithium oxide grade of 1.34%, alongside inferred resources of 18.55 million tonnes. This update significantly boosts the company’s global mineral resources, positioning Bandeira as a leading lithium development asset in Brazil. The project is strategically located near other major lithium operations, enhancing its potential impact on the market.

The most recent analyst rating on (TSE:LTH) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Lithium Ionic Corp stock, see the TSE:LTH Stock Forecast page.

Spark’s Take on TSE:LTH Stock

According to Spark, TipRanks’ AI Analyst, TSE:LTH is a Underperform.

The overall score is primarily weighed down by significant financial challenges, including persistent losses and cash flow issues. Technical indicators suggest a bearish trend, while valuation remains unattractive due to negative earnings. However, recent strategic corporate events may provide future growth opportunities, potentially offsetting some of the current financial weaknesses.

To see Spark’s full report on TSE:LTH stock, click here.

More about Lithium Ionic Corp

Lithium Ionic Corp. is a Canadian mining company focused on exploring and developing lithium properties in Brazil. The company holds approximately 17,000 hectares of land in Minas Gerais, a region known for its rich lithium deposits and mining-friendly environment. Notably, its Bandeira Project is located near significant lithium operations, including Sigma Lithium’s Grota do Cirilo project and Companhia Brasileira de Lítio’s Cachoeira mine.

Average Trading Volume: 221,025

Technical Sentiment Signal: Sell

Current Market Cap: C$84.85M

Learn more about LTH stock on TipRanks’ Stock Analysis page.