Australia's Lake Resources hits record high on supply deal with Japanese firm

Hanwa

29/03/2022 03:20

** Shares of lithium explorer Lake Resources  LKE.AX  jump
as much as 16.4% to a record high of A$1.955
    ** Co signs MoU with Japan-based trading firm Hanwa Co Ltd
 8078.T  to supply up to 25,000 tonnes per annum of lithium
carbonate from its flagship Kachi Project in Argentina
 urn:newsml:reuters.com:*:nASX1P4J3p
    ** Says both parties intend to establish a strategic
collaboration to develop a clean lithium supply chain
    ** Stock sees best day since Oct. 22, 2021, if gains hold 
    ** More than 19 mln shares change hands, compared with the
30-day average volume of about 16 mln
    ** Stock has risen by almost two-thirds this year, as of
last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))