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Fly News Breaks for October 9, 2018
WMLLF, ALB
Oct 9, 2018 | 12:47 EDT
Vertical Group analyst James Bardowski views Wealth Minerals' (WMLLF) hiring Cesar Jil as its Chief Technical Officer for Chile as a loss for Albemarle (ALB). Adding Jil's expertise will "significantly add to the probability" of Wealth Minerals' successfully bringing its own lithium project assets in the Atacama region of Chile into production, Bardowski tells investors in an emailed research note. The analyst, who believes shares of Albemarle are underperforming today due to the Jil's departure, points out that a core part of his Sell thesis on Albemarle is that "supply is coming." The stock in midday trading is down 3.5%, or $3.57, to $98.68.
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