Australia's Lake Resources tanks to 2-year low on lithium carbonate output delay

Lake Resources NL

20/06/2023 02:26

** Shares of Lake Resources  LKE.AX  tank as much as 21.1%
to A$0.300, hitting their lowest level since June 18, 2021
    ** Shares closed 20% lower on Monday after the lithium
explorer announced a three-year delay to first production from
its Kachi project in Argentina and more than doubled its cost
estimate
    ** LKE tops losses in benchmark stock index  .AXJO 
    ** About 30 mln shares change hands, vs the 30-day average
volume of ~13.6 mln shares
    ** Stock down 52.5% this year, as of last close
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))