Vulcan Energy (VUL)
Hi guys , I've been hearing glowing fundie reports about Vulcan Energy (VUL) in the last few days. What do you guys think of VUL as a growth investment? Thanks, Roger.
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Answer
Hi Roger,
This week lithium developer Vulcan Energy (VUL) revealed that ratings agency S&P Global Ratings has awarded it a Dark Green sustainability rating. This is the highest ever received by a metals and mining company globally and the stock initially jumped on the news above $5.50 before slipping back, but it still looks good.
VUL aims to produce lithium chemicals for EV batteries with zero carbon footprint. Their Zero Carbon Li Project is the world’s first of its kind, and they are targeting phase one production in 2024. Revenue for the 1st half of FY24 was €13.1m (up 24% from 1H 2023).
- Looking ahead, revenue is forecast to grow by over 50% p.a. on average during the next 3-years.
We aren’t very close to VUL but it does appear to be advancing nicely and a test of $6 looks a strong possibility this FY.
