BAAR, Switzerland--(BUSINESS WIRE)--Blackstone Resources AG (SWX: BLS) is pleased to announce that AlphaValue has reaffirmed its BUY recommendation for Blackstone Resources, which the company received in January 2020.
AlphaValue has applied a target price of CHF 2.61 per share to its latest BUY recommendation. This reflects the economic backdrop created by the recent Coronavirus pandemic. It also incorporates the successful sale of Blackstone’s exploration interests in Norway for CHF 22 million.
A number of observations were made in its recent update. The Coronavirus pandemic has given Blackstone Resources valuable time to develop scalable and energy-efficient batteries. It also noted that the materially lower battery prices for key battery metals, could provide Blackstone Resources with a level playing field versus larger investors. It also noted that Blackstone can benefit from the panic-driven gold price through its Peruvian gold mill as cash flows are expected in the near future.
AlphaValue is an independent equity research house that covers over 470 European stocks, split between 32 seasoned analysts. The report is readily downloadable from Blackstone Resources’ website and can be accessed here. It can also be found on AlphaValue’s website or on Bloomberg’s research portal.
Blackstone Resources AG
Blackstone Resources is a Swiss Holding Company, with its legal domicile in Baar, Kanton Zug and is concentrating on the battery metals market as primary metals. In addition, it sets up, develops and manages refineries used for gold and battery metals. It offers direct exposure to the battery metal revolution that is being driven by the demand of electric vehicles that need vast quantities of these metals. These include cobalt, manganese, molybdenum, graphite and lithium. In addition, Blackstone Resources has started a research programme on new battery technologies.
For more information please visit www.blackstoneresources.ch.
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