The Globe and Mail reports in its Friday, Jan. 20, edition that Eight Capital analyst Anoop Prihar rates Premium Nickel Resources "buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Prihar set a share target of $3.10. Analysts on average target the shares at $4.50. Mr. Prihar sees "significant upside potential" in Premium Nickel Resources following its 2022 acquisitions of a trio of previously producing mines in Botswana. Mr. Prihar says in a note: "Our Premium Nickel Resources investment thesis is twofold. First, the commercial potential of the Selebi and Selkirk Mines is enhanced by the favourable global supply/demand fundamentals for nickel, which is a key component in most EV batteries.
Second, we anticipate that PNRL will create value by redeveloping these two brownfield properties. Management is targeting the release of a NI 43-101-compliant PEA for the Selkirk project by the end of 2023, with the Selebi PEA to follow in 2024. We believe that there are three potential sources of upside." Mr. Prihar stresses that Botswana is a "stable mining friendly jurisdiction."
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