VUL) share price can double again
Canaccord Genuity came out with a bold $15.00 price target for the Vulcan Energy Resources Ltd (ASX: VUL) share price on Tuesday.
Vulcan shares have surged some 3,000% from a mere 20 cents to $7.20 in the past 12-months. However, this new speculative target price suggests another near-100% upside.
Why the Vulcan share price could go higher
Canaccord views Vulcan’s Zero Carbon Lithium project as an “untapped lithium resource class which will be needed to meet expected lithium demand over the long term”.
The project takes an innovative approach by extracting hot brines to generate renewable, geothermal power. It then uses direct lithium extraction (DLE) to produce battery quality lithium hydroxide.
The broker has also…