Australia's Lake Resources rises as Argentina lithium project starts processing

Lake Resources NL

02/11/2022 03:02

** Shares of lithium developer Lake Resources NL  LKE.AX 
climb as much as 13.7% to A$1.205, their highest since Sept. 13
    ** Co says commission phase of its Kachi lithium project in
Argentina is completed and demonstration plant is now processing
brines  urn:newsml:reuters.com:*:nASX14j77N
    ** Says just one month after start of wet commissioning, it
is already achieving 80% lithium recoveries at Kachi
    ** Co's project partner Lilac Solutions expects first
samples of lithium chloride from the plant to be shipped for
conversion to lithium carbonate within two weeks
    ** Co also reiterates that it intends to make several new
executive and board appointments before year-end
    ** LKE is the second biggest gainer on benchmark index
 .AXJO 
    ** More than 31 mln shares change hands, 2.2 times the
30-day average volume of 14.5 mln shares
    ** As of last close, stock up ~5% this year
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))