Morgans updates its forecasts for Elementos, the owner of the Oropesa Project in Spain which aims to become Europe's first new significant tin mine by 2025.

In accord with cost inflation across the broader mining sector, the broker raises its operational cost estimates by -10% and applies a conservative -25% increase to pre-production capital costs.

The target falls to 70c from $1.02. Speculative Buy.

Target price is $0.70.Current Price is $0.17. Difference: $0.54 - (brackets indicate current price is over target). If ELT meets the Morgans target it will return approximately 76% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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