Australia's Lake Resources on track for best day in over 1 month

Lake Resources NL

21/06/2023 03:17

** Shares of Australia's Lake Resources  LKE.AX  rise as
much as 6.6% to A$0.325, on track for best day since May 17, if
gains hold
    ** Stock of the lithium developer rebounds after it plunged
27% to hit a two-year low on Tuesday
    ** Co on Monday announced a three-year delay to its
production from its flagship Kachi project in Argentina and more
than doubled its cost estimates
    ** Lake's initial plan had been for first production in 2024
    ** Stock down 61.9% this year, as of last close 
 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))