UPDATE 1.30pm: Galaxy Resources has attributed a sharp spike in its share price to last week's announcement that its Jiangsu processing plant in China was on track for commissioning by the end of the year.
The company's comments were prompted by a share price query from the ASX after the lithium producer's shares rose from 65 cents on Friday to an intraday peak of 82 cents today.
The company also said an investor roadshow in the UK last month had been well received.
Last week, Galaxy said its Jiangsu lithium carbonate project was 91 per cent complete and remained on schedule and within budget.
Shares in the company closed up 7.5 cents, or 10.42 per cent, to 79.5 cents.
Despite the recent gains, the company's share price is still more than 100 per cent off the 52-week peak of $1.815 it hit in January.
GXY Price at posting:
27.0¢ Sentiment: LT Buy Disclosure: Not Held
