The Globe and Mail reports in its Friday, June 16, edition that Desjardins Securities analyst Frederic Tremblay rates Patriot Battery Metals "buy" in new coverage. The Globe's David Leeder writes that Mr. Tremblay set a Street-high share target of $21. Analysts on average target the shares at $18.18. The Globe reports that Mr. Tremblay expects the soon-to-be-released maiden resource estimate for Patriot Battery's 100-per-cent-owned Corvette hard rock lithium project in Quebec's James Bay region to "demonstrate the massive scale of the deposit," which he thinks could be "sector-leading." Mr. Tremblay says in a note: "Patriot had a cash position of $19.3-million and no debt at the end of 2022. This was supplemented by a $50-million flow-through equity offering completed in March, 2023. In addition, we estimate that in-the-money warrants could bring an incremental $16-million in 2023. As we think about the ongoing advancement of exploration and technical studies, as well as the multi-year path to first production of spodumene concentrate, we note that: (1) Patriot has historically relied on equity offerings; and (2) future partnerships, debt and/or government support are other potential sources of funds."