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LKE - LAKE RESOURCES N.L.


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LKE raised $20.6m from overseas institutional investors at a 12 per cent premium to its 10 day volume weighted average share price (VWAP). Lake’s flagship Kachi lithium brine project now fully funded through to the construction phase in 2022, it says.

 

This transaction places the company in its strongest financial position ever, managing director Steve Promnitz says. Lake will hold in excess of A$25 million following this placement and anticipates a further $6m to be added by July as existing options convert.
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Perhaps one of the reasons for the recent surge in LKE might be because of the price increases of Lithium carbonate.

From Kito News

Benchmark Mineral Intelligence released a report today showing carbonate prices increasing by over 40% within China in January 2021 on the back of continued surging lithium iron phosphate (LFP) battery demand.

 

Benchmark said that the midpoint, prevailing transacted price of the Benchmark Lithium Carbonate, Technical Grade, EXW China, ≥99.0% Li2CO3, increased by 41.35% to $8,375/tonne (RMB54,000/tonne). Meanwhile, the midpoint, prevailing transacted price of the Benchmark Lithium Carbonate, Battery Grade, EXW China, ≥99.5% Li2CO3, rose by 41.04% to $9,450/tonne (RMB61,000/tonne).

 

“Lithium ion battery related policy incentives in China are geared towards subsidising shorter-range vehicles, public transport fleet electrification, 5G power stations, all of which encourage LFP consumption.

“It’s back to the future for lithium in China," said lithium analyst, George Miller, at Benchmark.

“Demand for durable, improved, and low cost LFP cathode material has become rejuvenated in China – a very similar story to what we saw in lithium’s last price run of 2016 but with a much improved product for the 2020s."

A 40% increase in January alone.

That is hardly sustainable.

Fully expect China to start leaning on those Governments in the Lithium triangle of South America to make those price increases come down to "more sutainable" levels.

 

Mick

 

 

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I said the on Feb 3

Bought back into LKE, has fallen a long way back from the silly highs.

Hopefully it will stabilise around these levels.

 

After buying back in at 26, got taken out again at 37.

Around 42% in less than a week.

Have no idea why they jumped back to this level, but its a great way to make money.

Now sit around and wait for the next pull back.

Mick

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