Australia's Lake Resources soars on stake sale and lithium offtake deal

Lake Resources NL

06/10/2022 01:45

** Shares of Lake Resources  LKE.AX  surge as much as 10% to
A$1.105, their highest since Sept 20
    ** Lithium developer says industrial asset development firm
WMC Energy will acquire 10% of co at A$1.20 per share
 urn:newsml:reuters.com:*:nASX82WlN2
    ** Under the conditional framework agreement signed, WMC
will also source up to 25,000 tonnes per annum of battery-grade
lithium from Lake's flagship Kachi project in Argentina
    ** LKE stock best performer in the ASX 200 benchmark index
 .AXJO 
    ** Stock had slipped 0.5% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))