Recyclico Battery Materials Inc. (AMYZF)

[2guys]

Thanks for the reply Blairman, but my question wasn't really on placing focus on AMY as a short term play, my question was regarding any of the analyst's target on AMY short and long considering their potential underlying value.

I ask this because last June 2011, Jim Powell confirmed his "speculative buy" recommendation and reiterated his 12 month target of $2.90 which takes us into May 2012, just 2 months from now.

IMO, I'm not convinced this target will be met, but I also believe that we could hit half that target by then if all goes well with progress.

As Jim Powell attended the reception, I wondered if he lowered his target since he confirmed it last June 2011? If you could elaborate please do, but if it wasn't discussed then I understand that too. tia

Here's what Jim Powell said last June 2011 which was a confirmation of his May 2011 12 month target analysis:

http://www.theaureport.com/pub/na/10063

TCMR: Are you following any companies that have the potential to create EMM supplies outside of China?

JP: Yes. There's only one company—let's face it—that's solely focused on it. American Manganese Inc. (TSX.V:AMY, OTCPK:AMYZF) is poised to become the lowest-cost EMM producer. That's mainly due to the fact that the type of deposit AMY has is easily leachable into acid. In addition, the company has lower-cost power in Arizona versus competitors in China and South Africa. Those are its main technical advantages.

TCMR: You have a target price of $2.90 on that; is that correct?

JP: Yes. And that's what I'm sticking with, even though it's a fair bit away from current pricing. I actually felt the target was somewhat conservative—not aggressive at all; a relatively high discount rate. It's just that AMY will be able to make EMM for around $0.50/lb., whereas it currently sells in Europe for $1.55/lb. to $1.60/lb., and around $1.80/lb. in the U.S. AMY's production costs will be so low that the company could even make money selling their product into China.