Australia's Core Lithium at 3-month high after securing mining grant

Core Lithium

11/05/2023 02:44

** Shares of Core Lithium Ltd  CXO.AX  gain as much as 5.6%
to A$1.078, their highest since Feb 8
    ** Co says the Northern Territory government granted mining
authorisation at Finniss Lithium ops on the Cox Peninsula 
    ** Says govt approval and mine management plan are final
steps of an approval process ahead of a potential investment
decision by its board
    ** Adds that it is loaded with the first spodumene
concentrate produced from the open pit at Finniss ahead of
schedule
    ** Stock's gains outpaced by a more than 15% rally in peers
Allkem  AKE.AX  and Lake Resources  LKE.AX  
    ** Pilbara Minerals  PLS.AX , Syrah Resources  SYR.AX  and
Nickel Industries  NKE.AX  up between 4.8% and 3.8%
    ** As of last close, CXO down marginally so far this year

     ($1 = 1.4663 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))