NORAM LITHIUM: The best is yet to come in 2021...!

The global "battle" for the raw material lithium is visibly intensifying. No wonder, given the prospects for electric mobility. But beware, lithium is not only of high importance there. Lithium carbonate prices have already quadrupled since the beginning of the year, and given the mismatch between supply and demand, this trend is likely to continue unabated. Even if lithium reserves can be increased significantly (?), we do not see any great danger for prices. Since our last report on NORAM LITHIUM on October 14, the share has gained a further +30%, and we are thus currently at +367%! From a fundamental point of view and above all comparable valuation criteria, this should not be the end of the line by a long shot; the fair value would currently be at least CAD 1.74. Three reasons primarily speak for our continued confidence: 1. Within the framework of the professional, new homepage as well as a press release last week, the PEA report (Preliminary Economic Assessment) was announced before the end of the year. "You would be impressed," was one of the casual statements. In this context, the start of the production phase should also be explained; we assume 2022. 3. 3. Peter A. Ball will take over the presidency and the function as Chief Operating Officer at NORAM. He is a proven commodity expert and we cannot imagine that he would have taken over this office if there were not excellent prospects associated with it. For the time being, however, we remain "down to earth" and leave the price target at CAD 1.20, which will soon be reached! Trading volumes have increased noticeably in recent days. Should our estimates prove correct in the near future ("medium to longer term would also be ok"), we will increase the price target and link it to a stop-loss.

NORAM LITHIUM is listed on the TSX in Toronto under the symbol NRM, the security number is 112,854,222, last price approx. CAD 0.84.

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