Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Full broker notes for FENR Fenner. <b><u>NUMIS</u></b>....... <b><i>Update. Company reports that results will be ‘comfortably ahead’ of previous guidance citing progress in all businesses. This is being driven primarily from the cost actions and sales efforts (e.g. into industrial and aggregates markets in the US) rather than any significant changes in end markets. ECS - US coal seeing some increase in activity note that coal production is up c40% from spring 2016 lows albeit remaining at historically low levels. Key actions taken in America, particularly on the cost front, appear to be gaining good traction. Australia is ahead of the previous year despite order levels being flat as miners focus on costs even as commodity prices improve. We note Rio recently announced their 2017 capex budget including increase Australia investment. AEP is seeing some upside at CDI as the rig count improves and Hallitte seals business benefiting from internal actions. Overall therefore the group is benefiting from internal actions and the lack of negative operational gearing / first shoots of a recovery suggesting that the positive impact of operational gearing is still to come as commodity markets improve.</i></b> <b><u>Peel Hunt</u></b> <b><i>AEP is seeing an improving trend in order intake and customer enquiries in Oil & Gas, reflecting its strengthening market position and a further rise in the US rig count. The Medical businesses are performing well and in line with expectations. ECS – some increase in order intake in North America, from very low levels. Outlook – whilst market conditions remain similar to November, the group is enjoying market share gains. As a consequence, the Board envisages that the Group's results for the current financial year will be comfortably above previous expectations. Forecasts: We expect to increase our August 2017 PBT by c10% to £34m (12.8p). The group is clearly now on an upward trajectory and we anticipate more material upgrades for FY2018E as the key end markets continue to recover, enhanced by further market share gains. On our indicative forecasts, the shares are trading on an August 2017 PER of 18.5x, falling to 15x August 2018 & 1.3% yield. We are increasing our target price to 300p and upgrade our recommendation to Buy.</i></b>
FENR Fenner 2 Broker UPGRADES.... Fenner PLC FENR Numis Hold 268.63 236.50 - 250.00 Upgrades Fenner PLC FENR Peel Hunt Buy 268.63 236.50 260.00 300.00 Upgrades Fenner PLC FENR finnCap Buy 268.63 236.50 300.00 300.00 Reiterates