Nemaska Lithium is a cheap penny stock with great underlying fundamentals. Nemaska Lithium is in the business of exploration and development of hard rock lithium in mining properties in Canada. Nemaska has the biggest unmined depot of lithium in the world. A Nemaska Lithium Whabouchi shows an internal rate of return of 25.2%!
Nemaska has excellent fundamentals with $27.19m in total assets, a cash balance of $1.25m, and the current assets:current liabilities ratio is a solid 1.69. Although the most recent quarter report shows a net loss, it is only $.003 per share, or $548,139. Not too shabby for a stock trading at $.20.
On the daily chart of NMX.V, price has formed a small bull flag which broke to the upside today. The price target of the pattern measures to $.21, but more importantly the weekly chart suggests a move to the $.25-$.30 level. It also appears to be in an accumulation phase so something might be brewing.
