Australia's Core Lithium jumps on strong quarterly production

Core Lithium

27/10/2023 01:33

** Shares of Core Lithium  CXO.AX  rise as much as 5.7% to
A$0.37, highest since Oct. 18
    ** Diversified miner reports quarterly spodumene concentrate
production of 20,692 tonnes (t) vs 14,685t in Q4 FY23
    ** Records qtrly spodumene concentrate shipments of 23,424
tonnes at an average grade of 5.2% vs 5,423t at 5.6% in Q4 FY23
    ** Spodumene is a lithium mineral used in production of
ceramics, enamel, and glass
    ** Co says remains on track to meet production, unit cost
and CAPEX guidance for FY24
    ** Run of mine stocks expected to build through Q2 FY24 and
be drawn down during the wet season in Q3 FY24 - CXO
    ** Adds FY24 production guidance of 85,000t to 95,000t of
lithium fines product unchanged, but subject to pricing
    ** Stock biggest percentage gainer in the ASX 200 benchmark
index  .AXJO 
    ** Stock down 65.9% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))