Australia's Core Lithium rises on favourable results, revised FY24 outlook

Core Lithium

24/01/2024 24:10

** Shares of Core Lithium  CXO.AX  rise as much as 7.7% to
A$0.208, on track for their best day since Jan 12, if gains hold
    ** The diversified miner reports a 39% increase in quarterly
spodumene concentrate production to 28,837 metric tons
    ** Co, however, adds that FY25 outlook is withdrawn due to
temporary suspension of mining operations and BP33 early works 
    ** Says cash operating unit costs expected to be lower and
within A$800/t-A$900/t in H2FY24
    ** Co sees higher spodumene concentrate production between
90,000 and 95,000 tons for FY2024
    ** Stock has fallen 22% this year, as of last close
    

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))