Regulatory Approval Received – Change profit target

Brad Holland

Brad has over 20 years experience in the Australian and US equities and options markets. Brad specialises in equities and options for capital growth, income generation and capital protection. He also specialises in finding opportunities in small to medium cap stocks. Brad holds RG146 - Securities & Managed Investments and Accredited Derivatives Adviser Level 2 qualifications.

October 20, 2021

FFX.AX | High Conviction Report

Firefinch Announcement 20th Oct

A very positive announcement from FFX this morning that all Chinese regulatory approvals have been received. This means Ganfeng will make the first tranche of its equity contribution to the Lithium project shortly.

Of more importance in the news is a major capacity expansion

  1. Definitive Feasibility Study (DFS) update considering a 75% increase in production
  2. Spodumene concentrate production likely to increase from 450,000 tonnes per annum

With such positive news, we expect the share price to trade higher today so we will make changes to the stop loss and target price.

Trade Action

Stop loss: We are increasing the level to $0.40

Target price: Increase target price to $0.80. If the target price is reached we will only sell half of the position being 5,000 shares.

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.

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