GRID:CC - Harbinger Research Initiates Coverage on Grid Battery Metals Inc. and Publishes its Initiation Research Report
(TheNewswire)
Coquitlam, BC – TheNewswire - August 15, 2023 - Grid Battery MetalsInc. (“formerly NickelRock Resources Inc.”) (the “Company” or “GridBattery”) ( TSXV:CELL ) , ( OTC:EVKRF ) ( FRA:NMK2 ) announces that Harbinger ResearchLLC, an Atlanta USA based independent research firm, has published itsInitial Research Report on the Company as of August 14, 2023.
The full research report can be accessed and downloadedby the public at https://content.equisolve.net/_375204edf049f9a2ddb79465ac426697/harbingerresearch/files/research/2023-08-14_Grid_Battery_Metals_Coverage_Initiation_Report.pdf
The Harbinger Research Report includes a Grid BatteryMetals Enterprise Valuation Analysis and a Share Price Target, as wellas a “Strong Speculative Buy” recommendation.
The Harbinger Research Report further outlines thatGrid Battery Metals, a pioneering mineral exploration company withsignificant experience, is strategically positioned in the batterymetals market with a strong focus on lithium and nickel mineralexploration. As the demand for EVs and battery technologiesincreases, Harbinger Senior Research Analyst Mr. Brian Connell, CFAstates that both lithium and nickel commodity markets are projected toexperience significant growth over the next decade.
The Report concludes that “Grid Battery Metalspresents a compelling investment opportunity, driven by its strategicfocus on key battery metals essential for the burgeoning electricvehicle (EV) industry. The Company has a highly-seasoned team thatpreviously founded Surge Battery Metals (TSX-V: NILI), (OTCQB: NILIF),a more mature and successful lithium and nickel exploration anddevelopment company, demonstrating a track record of successfulexecution. Furthermore, the Company has three promising lithiumprojects operating in the mining-friendly state of Nevada, two ofwhich are adjacent to more developed lithium projects that share asimilar underlying geology. And given the extreme growth of the EVmarket, which is likely to persist for at least the next two decades,we believe that Grid Battery Metals is well positioned for success. Therefore, we initiatecoverage of the Company with a Strong Speculative Buy Rating, and a12-month share price target of $0.22. Webelieve that all risk-tolerant investors seeking exposure to the EVmarket segment should consider an investment in Grid BatteryMetals.”
Grid Battery Metals Inc. is a Canadian basedexploration company whose primary listing is on the TSX VentureExchange. The Company’s maintains a focus on exploration for highvalue battery metals required for the electric vehicle (EV) market. www.gridbatterymetals.com .
About Texas Springs Property
The Company owns a 100% interest in the TexasSpring Property which consists of mineral lode claims located inElko County, Nevada. The Property is in the Granite Range southeastof Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. Thetarget is a lithium clay deposit in volcanic tuff and tuffaceoussediments of the Humbolt Formation.
The Texas Spring property adjoins the southern borderof the Nevada North Lithium Project - owned by Surge Battery MetalsInc. (“Surge”) ( TSXV:NILI, OTC: NILIF ) and comprised of 303 mineralclaims. Surge's first round of drilling identified stronglymineralized lithium bearing clays. The average lithium content withinall near surface clay zones intersected in the 2022 drilling program,applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29,2023 ).
About Clayton Valley LithiumProject
The Company owns a 100% interest in 113 lithium lodeand placer claims covering over 640 hectares in Clayton Valley.Clayton Valley is a down-dropped closed basin formed by the Mioceneage Great Basin extension and is still active due to movement alongthe Walker Lane structural zone. As a result, the basin haspreserved multiple layers of lithium bearing volcanic ash, resultingfrom multiple eruptive events over the past 6 million years includingeruptions from the 700,000-year-old Long Valley Caldera system andrelated events. These ash layers are thought to contribute to thelithium brines extracted by Albemarle and are also likely involved inthe formation of the exposed lithium rich clay deposits on the eastside of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claimscovering approximately 635 hectares of alluvial sediments and clayslocated 122 km northeast of Tonopah, Nevada.
About the British Columbia, NickelProjects
The Mount Sidney Williams Group consists of three claimblocks with a total area of 10,569 hectares in the area surroundingMount Sidney Williams, both adjoining and near the Decar project ofFPX Nickel Corp., located 100 kilometres northwest of Fort St. James,B.C., in the Omineca mining division. Metallic mineralization includesnickel, cobalt, and chromium. At least some of the nickelmineralization occurs as awaruite. The Mitchell Range Group areaclaim consists of one claim block covering 8,659 hectares withdemonstrated metallic mineralization including nickel, cobalt, andchromium. Nickel cobalt mineralization has not been well explored, butthe presence of awaruite has been documented.
About Harbinger Research, LLC
Harbinger Research, LLC is one of a new breed ofissuer-sponsored research boutiques, providing unbiased equityresearch coverage to smaller issuers that cannot attract researchcoverage from traditional brokerage firm’s research departments. Ourmission is to help both investors and public issuers by improving theavailability of issuer information and by providing sound, unbiasedanalysis of our issuer clients’ businesses, industries, and currentmarket valuation.
The policies of Harbinger Research, LLC require thatall personnel strictly adhere to the CFA Institute’s Code of Ethicsand Standards of Professional Conduct, and its Best PracticeGuidelines Governing Analyst / Corporate Issuer Relations. Pleasesee www.cfainstitute.org formore information.
To view our disclosures and disclaimers, or for moreinformation, visit www.harbingerresearch.com .
Harbinger Research, LLC
Brian Connell, CFA
Senior Research Analyst
brian@streetcontent.com
(315) 215-3280
On Behalf of the Board of Directors
“Tim Fernback”
604-428-5690
Tim Fernback, President & CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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