World News – AU – That’s why Core Lithium (ASX: CXO) stock price is up 45% today

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ASX 200 | A B C D E F G H I J L M N O P Q R S T U V W X

The Motley Fool Australia »Stock Winners» That’s why Core Lithium (ASX: CXO) stock is up 45% today

James Mickleboro | 4th. January 2021 15:09 | More on: CXO

The share price of Core Lithium Ltd (ASX: CXO) showed an exceptionally strong performance again on Monday.

At one point, the lithium-focused mineral exploration company’s stocks rose 45% today to a record high of 21 cents.

When Core Lithium stocks hit this level, it meant they were up 150% since Christmas Eve.

Core Lithium shares have been on fire for the past few days, despite no news from the company.

However, that sharp rise has caught the attention of the Australian stock market and has prompted an investigation to be discussed today.

Core Lithium responded by stating that it “is not aware of any information about CXO that has not been announced in the market and that, if known to some in the market, could explain recent trading in its securities. ”

However, it gave the market operator an idea of ​​why its shares are currently in demand with investors.

The company found that its largest shareholder, Yahua International Investment and Development Co. , signed a five-year contract to supply Tesla with lithium.

This could be positive for Core Lithium as it has a binding purchase agreement with Yahua for 75. 000 tons of lithium podumene concentrate per year has been signed.

It was also pointed out that lithium prices have increased and that it is « the most advanced new Australian lithium developer on the ASX » and that there are very few advanced Australian lithium projects where investors gain exposure to rising lithium prices can. ”


Finally, the company notes that it previously announced that it is receiving interest from new lithium parties in additional binding purchase and customer project funding agreements for its Finniss lithium project.

A little-known Australian IPO has doubled since January, and renowned Australian moonshot stock picker Anirban Mahanti sees a potential millionaire waiting. . .

With ‘Doc’ Mahanti believing this fast growing company has all the hallmarks of real moonshot potential, forget ‘buy now, pay later’, this stock could be the next hot stock on the ASX.

Doc and his team released a detailed report on this tiny ASX stock. Find out how to access the NEXT Afterpay today!

James Mickleboro, a contributor to the Motley Fool, has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). . Authorized by Bruce Jackson.

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Lithium, nuclear lithium, Tesla, Inc. . , Share price, ASX: CXO, Lepidico

World news – AU – That’s why Core Lithium (ASX: CXO) share price rose 45% today

Ref: https://www.fool.com.au

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