Australia's Lake Resources rises on strategic review for flagship lithium project

Lake Resources NL

07/05/2025 02:20

** Shares of Lake Resources NL LKE.AX rise 6.1% to A$0.035, on track for their strongest session since April 24, if gains hold

** Co launches a strategic review of its flagship Kachi lithium project in Argentina, prompted by an undervaluation of the asset following a recent slump in lithium carbonate prices

** The review may lead to stake sale in the project and a potential sale or merger of the co

** About 4.3 million shares change hands, 1.7x the 30-day average of 2.5 million

** Stock down 16.7% YTD, including moves in current session

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))