Why are these ASX-listed lithium stocks in news?

Despite a strong handover from Wall Street stocks, the Australian stock market opened flat on Tuesday. However, at 2.27 PM AEST, the ASX 200 Index was 0.042% up at 7,152.00 points.

Except for the materials, financial and A-REIT sectors, all other sectors were trading in the red today. Meanwhile, when it comes to mining, the S&P/ASX 200 Materials Index (ASX:XMJ) was 0.35% higher at 17,491.60 points at the same time.

It is worth noting that lithium prices have increased by almost 400% in the last year (as of 18 May). Lithium is a significant component in the production of electric car batteries, and it is expected that global lithium sales will expand by up to 20 times between 2020 and 2030.

A team of researchers from Japan’s National Institute for Materials Science (NIMS) has recently developed a lithium-air battery with a record-breaking energy density of more than 500 watt-hours per kilogramme (Wh/kg).

In this article, we will talk about three ASX-listed mining stocks, including Sayona Mining (ASX:SYA), Core Lithium Ltd (ASX:CXO), and Pilbara Minerals Limited (ASX:PLS).

Image Source: © 2022 Kalkine Media ®

Data Source- ASX

Sayona Mining (ASX:SYA)

Shares of Sayona Mining Limited were trading in red today. At 2.35 PM AEST, the company’s shares were 6.38% down, trading at AU$0.22 each on ASX today. The company has a current market capitalisation of AU$1.68 billion.

Although there is no price sensitive news shared by the company today, Sayona announced yesterday (23 May 2022) that the technical and financial viability of its North American Lithium (NAL) project in Quebec has been validated.

The mine’s potential was validated by a pre-feasibility study (PFS), which increased the mine’s estimated life to 27 years.

In the last one year, the share price of Sayona mining has gone up 400%, while the stock has gained 70% year-to-date (YTD).

Also Read: Sayona Mining (ASX:SYA) shares fall 25% in last two weeks, here’s why

Source: © Rtbilder | Megapixl.com

Core Lithium Ltd (ASX:CXO)

Core Lithium’s stock was trading flat at AU$1.33 each today at 2.53 PM AEST as there is no change from the previous closing price.

The Finniss Project in the Northern Territory is being developed by Core Lithium, Australia’s most advanced lithium project on the ASX. Core Lithium is in the vanguard of future global lithium production thanks to the Finniss Project, with the first production planned for 2022.

The Finniss Project generates world-class, high-grade, and high-quality lithium for usage in electric vehicles and renewable energy storage.

Core Lithium’s stock has climbed about 125% YTD and 450% in the last one year.

Also Read: Core Lithium (ASX:CXO) shares are trading in red today, here’s why

Pilbara Minerals (ASX:PLS)

Pilbara Minerals Limited is an Australian mineral exploration company. The corporation wholly owns the Pilgangoora lithium-tantalum project in Western Australia. Pilbara, based in West Perth, was founded in 2005.

Today at 2.58 PM AEST, Pilbara Minerals’ shares were 4.15 up, trading at AU$2.93 apiece. The company has provided around 9% negative growth YTD. However, the company’s shares have grown around 158% in the last one year.

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