(Investrend Research Syndicate) -- Ernest C. Schlotter, a senior analyst with SISM Research and a four star analyst according to StarMine, has released a research note on AmeriLithium Corp., (OTCBB: AMEL), an emerging lithium exploration company. In a six-page report dated July 28, 2010, SISM maintains its 18-24 month target price of $5.10, supported by the DCF valuation.
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According to the report:
“AmeriLithium Corp. successfully completed the gravity survey on its Paymaster Canyon Project in Clayton Valley in Nevada, which was conducted by Hasbrouck Geophysics, Inc., a very respected, licensed professional geophysics company from Prescott, Arizona. Three significant bedrock elevation lows have been identified that warrant further exploration. The survey's corresponding report specifically identified the largest of the three depressions as a possible trap for lithium-bearing groundwater migrating into the canyon from Alkali Flats to the east. The three bedrock elevation lows that were identified are oriented in a roughly north-south direction along the canyon axis. The main depression is approximately 750 meters wide by 4 kilometers long and ranges in depth from 200 to 400 meters. Two smaller, shallower bedrock lows were discovered to the south of the main depression that will also be tested during the next phase of geophysical exploration. ‘Geologically, the aquifers in the Clayton Valley have many characteristics that place it among the best and most economical lithium bearing basins in the world,’ said Ernest Schlotter. “The Company's second stage of exploration work will soon be completed and we expect a full report during the month of August 2010. We maintain our SPECULATIVE BUY/4 recommendation on AmeriLithium with an 18- to 24-month target price of $5.10, based on our DCF valuation.”