Blackstone Resources receives BUY rating with target of CHF 2.87 from AlphaValue
BAAR, Switzerland – (May 07, 2019) – 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. This update follows the release of the 2020 Annual Report from Blackstone Resource last month.
Alphavalue has moderately raised its six-month the target price to CHF 2.87 per share from its January report. Based on a share price of CHF 0.76, this offers investors upside potential of 380%. The research report noted that Blackstone Resources ended 2019 on a good note, with full-year results beating AlphaValue's expectations.
The report also noted that the prevalent downturn due to the coronavirus, might give 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 early-stage cash flows are expected this year.
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, nickel, copper and lithium. Blackstone Resources has developed the new Battery code BBC. In addition, Blackstone Resources has started a research programme on new battery technologies on solid state batteries and its production process.
For more information please visit www.blackstoneresources.ch or contact:
Blackstone Resources AG
Blegistrasse 5 T: +41 41 449 61 63
CH-6340 Baar F: +41 41 449 61 69
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