AUS
NZ
UK
CA
USA
IND
_10_04_2024_16_38_50_427275.jpg)
Highlights:
- Panmure Liberum raised Emmerson PLC's price target to 17p following progress on environmental permitting.
- Emmerson expects a decision on its Khemisset Potash Project permit in Q4 2024, with an updated resource estimate to follow.
- Final lab results from crop trials are expected to confirm the effectiveness of Emmerson’s multi-nutrient products as phosphate sources.
Emmerson PLC (LSE:EML) has provided a recent update, leading Panmure Liberum to slightly raise its price target for the company to 17p from 16.9p. The key focus of the update was Emmerson’s progress on securing an environmental permit for its Khemisset Potash Project, with the company expressing optimism that the permit could be granted in the fourth quarter of 2024. Emmerson also plans to release an updated resource estimate alongside the permit decision.
Emmerson indicated that the permitting process is nearing its conclusion, and it remains confident in a positive outcome. In addition to the environmental progress, final lab results from the second round of crop trials are expected soon. Early visual indications suggest that the results will confirm the effectiveness of the multi-nutrient products derived from Emmerson’s Khemisset Multi-mineral Process (KMP) as reliable sources of phosphate.
Panmure Liberum’s slight increase in the price target reflects the anticipation of positive developments both from the permitting process and ongoing crop trials. Emmerson’s shares are currently trading at 1.6p.
