Snow Lake Lithium rallies after supply deal with Korea's LG Energy

Frontier Nuclear and Minerals

23/09/2022 13:54

** U.S.-listed shares of Snow Lake Resources Ltd  LITM.O  up
15.2% at $2.65 premarket after announcing collaboration with LG
Energy Solution  373220.KS 
    ** LITM's shares could snap 6-day losing streak if gains
hold
    ** LITM says inks non-binding memorandum of understanding
with LGES to explore opportunity to create one of Canada's first
lithium hydroxide processing plants in CentrePort, Winnipeg,
Manitoba  urn:newsml:reuters.com:*:nACSXwP0Sa
    ** Under deal terms, LITM will supply LGES with lithium over
a 10-year period once production starts in 2025
    ** About 3.6 mln LITM shares have already traded before the
bell vs stock's 10-DMA volume of roughly 320k, per Refinitiv
    ** Stock has lost 60% YTD through Thurs close and still well
below Nov 2021 IPO price of $7.50
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))