Vancouver, British Columbia--(Newsfile Corp. - April 4, 2017) - Today's buy recommendation comes from New York based SeeThruEquity, which has updated coverage on Lomiko Metals (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8C). Following a reverse split in December 2016, analyst Amit Tandon gives the company a new target price of CDN$0.75, a premium of 167% to the $0.28 price on March 30th, the day the report was issued.
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In addition to developing high quality graphite plays in Quebec, Lomiko is pursuing synergistic growth opportunities in the technology and new energy markets.
On March 7, 2017, Lomiko and partner Canada Strategic Metals (TSXV: CJC) announced encouraging drilling results for high grade graphite from the refractory zone in the La Loutre property north of Montreal.
In the joint press release, the companies defined an area of mineralization that appears to be 200 meters wide, with a current strike length of 400 meters in a northwest to southeast direction, which is open from both directions. The announcement is a continuation of encouraging drilling results for the play, which management indicated has shown "excellent" data including near-surface, high grade flake graphite, helping further define its potential.
Lomiko is planning to complete a Pre-Economic Assessment Report before the end of 2017.
Analyst Amit Tandon stated: "We see the company as an intriguing, speculative investment in the graphite and graphene markets, with option-like potential from holdings in its wholly-owned Lomiko Technology subsidiary."
The identification of high purity graphite crystalline flake can serve as the base material for testing graphite for the ultrapure carbon market, for anode materials used in lithium-ion batteries and for conversion into graphene for use in 3D printers and supercapacitors.
The company's wholly owned subsidiary, Lomiko Technologies, is nearing commercialization for its innovative new Spider Charger™, an in-wall USB charging device that allows up to eight electronic devices to charge safely at one time. The Spider Charger™ was developed as a result of technology acquired through Lomiko's December 2014 licensing agreement with Megahertz Power Systems Ltd. SHD Smart Home Devices, a company jointly launched by Lomiko and MegaHertz, will develop, contract manufacture, distribute and sell Spider Chargers and related devices.
A. Paul Gill, CEO, stated: "SHD has an incredible opportunity to participate in a burgeoning IoT and Smart Device market. Major companies such as Leviton, Legrand, Pass and Seymour and others have recognized this new market and have launched similar devices."
The shares are trading at $0.28 and with 18.7 million outstanding, the company is capitalized at $5.3 million.
For more information, please visit the company's website, www.lomiko.com, contact A. Paul Gill, CEO at 604-729-5312 or email info@lomiko.com.
For more information about SeeThruEquity or to obtain a copy of their research report, please visit the company's website www.seethruequity.com or contact Ajay Tandon at 646-495-0939 or email info@seethruequity.com.
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