Lithium miner Allkem slips as weak prices, output hurt quarterly revenue

Allkem

26/10/2023 01:31

** Shares of Allkem Ltd  AKE.AX  fall as much as 4.1% to
A$10.130, posting their worst intraday drop since Oct. 20
    ** Co says Sept-qtr Olaroz facility output 4,453 tonnes of
lithium carbonate, down 12% sequentially but up 35% from a year
ago
    ** Olaroz Sept-qtr revenue $123 mln, down 7% sequentially
and 18% y/y
    ** Sept-qtr group revenue $327 mln, down from $334 mln in
prior quarter
    ** Realised prices received for both Mt Cattlin and Olaroz
projects were weak in Sept qtr
    ** AKE down 6.1% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))