Australia's Lake Resources hits two-week high on lithium production

Lake Resources NL

17/04/2023 01:48

** Shares of Lake Resources  LKE.AX  soar as much as 7.6% to
A$0.495, eye their best day since April 3 - if gains hold 
    ** The lithium miner its and partner Lilac Solutions say
2,500kg of lithium carbonate equivalents have been produced at
the Project Kachi plant in Argentina  urn:newsml:reuters.com:*:nFWN36I091
    ** Co says Lilac Solutions has now raised its ownership on
the Kachi plant to 20% from 10%, following the result 
    ** Adds that the Kachi project, when fully developed by Lake
and Lilac, is expected to produce 50,000 tonnes per annum of
battery-grade lithium products
    ** Co emerges as top gainer in the benchmark; hits highest
since April 4 
    ** Stock has fallen 42.5% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))