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Opinions Dennis da Silva
E3 LithiumETL.VRISKYNov 15, 2023
$2.89
Stock price when the opinion was issued
$1.18
As of Jun 19, 2026. Market Open.
0
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Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
The EV/lithium sector remains hot and ETL's share price is breaking out to new highs. The company has $18M in cash, no revenues, and generates negative free cash flow. It recently provided an overview of its lithium assets in Saskatchewan, and it recently begun operations at Alberta's first direct lithium extraction field pilot plant. We do not see major red flags here other than its small size, sector and capital risk, but we would consider it to be highly speculative and it's hard for us to strongly endorse it at this time.
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Bit of a tech company, as it uses direct lithium extraction from depleted gas reservoirs. More environmentally friendly process. Not successful commercially outside China. Key is if it can be scaled. Lithium is well off peaks, starting to look interesting, but this name is speculative.