LKE

6.98%

4.0¢ lake resources n.l.

* Coming from the same guy who was buying every 2nd day at $1.50...

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bombersmadd

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22/03/24

21:06

Post #: 73020854
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Originally posted by sowens: ↑

I think LKE could be a good buy right now because someone with $15 million decided to throw some money in. Plus the cap raise announcement has seen the share price drop from 12 cents to 6 cents nothing else about the company changed so people buying today might be picking up shares at a substantial discount to the price people were willing to pay, what about a week ago.
Another positive is that the lithium price has gone from $13 a kilo to $16. It's not much of a rise but it is in the right direction. I don't see it going above $25 because that's a price that will kickstart a lot of other production and LKE need $30+ to make a profit.
The one card up LKE's sleeve is the environment
A lot of the Chinese swing production is Lepidolite. For every ton of lithium from Lepidolite they produce 30 tons of waste.
Spodumene is better but producing lithium from Spodumene involves roasting it at 1100 degrees centigrade and roasting it a second time in a sulphuric acid bath before adding lime and soda ash. It's very energy intensive.
The only place that seems to worry about green lithium is the EU where they have developed a battery passport system and this may lead to a niche market for lithium produced in a sustainable way.
So there's my position a buy today might benefit from a general rise in the lithium price but Kachi is not economic below $30 a kilo and I can't see that happening but Kachi might get green lighted due to it's superior environmental and social credentials.
Cue the real downrampers

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* Coming from the same guy who was buying every 2nd day at $1.50 because he had supreme confidence the drop from $2 to $1.50 would be short lived !!!

LKE Price at posting: 6.6¢ Sentiment: Sell Disclosure: Not Held
7 Upvote

0 Great analysis

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(20min delay)
Last 4.0¢		Change -0.003(6.98%)		Mkt cap ! $66.52M

Open	High	Low	Value	Volume
4.2¢	4.3¢	3.9¢	$753.4K	18.59M

Buyers (Bids)

No.	Vol.	Price($)
4	731925	4.0¢

Sellers (Offers)

Price($)	Vol.	No.
4.1¢	760271	12

View Market Depth

No.	Vol.	Price($)
3	719925	0.040
24	2445434	0.039
13	1894657	0.038
4	1330812	0.037
10	1425619	0.036

Price($)	Vol.	No.
0.041	511999	5
0.042	1384013	12
0.043	659666	10
0.044	521887	8
0.045	268269	4

Last trade - 16.10pm 28/06/2024 (20 minute delay)

LKE (ASX) Chart

* Coming from the same guy who was buying every 2nd day at $1.50...

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* Coming from the same guy who was buying every 2nd day at $1.50...

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