Australia's Lake Resources set for best day in 4 months on positive study results

Lake Resources NL

19/12/2023 24:45

** Shares of Lake Resources  LKE.AX  rise as much as 15.4%
to A$0.15, set for their best day since Aug 15, if gains hold 
    ** The lithium miner says the Phase I definitive feasibility
study for the Kachi lithium brine project in Argentina has net
present value of $2.3 bln, with internal rate of return of 21% 
    ** Says project targets battery grade lithium carbonate
revenue of $21 bln and $16 bln operating profit over the 25-year
life of mine
    ** Co says Adds final investment decision for project is
targeted in first quarter of 2025
    ** Stock hits highest since Nov 29 
    ** Stock down 83.1% this year, as of last close

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