I was going through the same article: Why are Core Lithium...

I was going through the same article:

Why are Core Lithium shares hitting new lows?

There have been a few catalysts for the weakness in the Core Lithium share price this year.

The first is a collapse in lithium prices since January. As I mentioned here last week, the spot lithium spodumene 6% price has dropped from US$5,990 a tonne in the middle of January to approximately US$3,000 a tonne last week.

Another reason why Core Lithium shares have been under pressure is the miner's surprise capital raising in August. It raised $100 million from institutional investors at 40 cents per new share and is now seeking to raise a further $20 million from retail shareholders.

Management advised that the proceeds will help the company deliver on its near-term growth projects during the Finniss Lithium Project's ramp-up, whilst preserving balance sheet flexibility.