However, we think Core Lithium has some upside left in it. The company will continue its shipments and these will begin to be reflected in the bottom line before too long.
Furthermore it is continuing exploration activities at the project that will have further lithium.
Indeed, the company has a second mine (BP33) that will commence production in 1HCY24 and will deliver 1Mtpa.
If the Core Lithium share price fails to reach 2022 highs, it is realistic prospect that it could become a takeover target.
So overall, we think the company’s share price sell off has been overdone, although shareholders will hope that lithium prices don’t continue to fall.
CXO Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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