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Lake NL Resources (ASX:LKE) Stocks have had their ups and downs over the past year. But overall they got ahead.
Shares of Lake rose nearly 68% from 64 cents at market close on Oct. 19, 2021 to $1.075 at market close yesterday.
So if I had invested $1,000 in this ASX lithium stock 52 weeks ago, how much would I have now?
Is the Lake Resources stock price a good investment?
Imagine if I had invested $1,000 in shares of Lake Resources at 64 cents a year ago. I would have pocketed 1,562 shares with 32 cents remaining.
Now Lake Resources’ stock price is at $1.075. My investment would therefore be worth $1,679.15.
Looking at the year in more detail, Lake Resources stock price hit a high of $2.45 on April 4 of this year.
At that time, my $1,000 investment would have looked very nice. I would have had $3,826.90.
However, on July 14, shares of Lake Resources were worth just 60.5 cents apiece. At this point, I would have been late, with $945.01 remaining from my $1,000 investment.
Overall, if I had bought $1,000 of Lake Resources stock a year ago and held it through the ups and downs, I would be happy with my investment.
What else is going on?
Earlier this week, Lake announced that he has created a new role on his leadership team. Scott Munro will serve as senior vice president, technology, strategy and risk.
Commenting on the appointment, Executive Chairman Stuart Crow said:
This role will lead the company’s technology engagement as it evolves towards resource development and support the continued evolution of strategy and risk processes in support of long-term stakeholder value creation. .
This is part of Lake’s ambitious goal to produce 100,000 tpa of high-purity lithium; supporting Lake’s goal of becoming one of the world’s leading lithium producers.
Lake Resources also recently signed an offtake agreement with SK On for a supply of up to 25,000 tpa [tonnes per annum] of battery-grade lithium from the Kachi project in Argentina.
Lake Resources Stock Price Overview
Shares of Lake Resources are up 6.44% year-to-date, after rising 2.87% last month.
For perspective, the S&P/ASX 200 Index (ASX:XJO) is down 8.66% year-to-date.
Lake has a market capitalization of nearly $1.5 billion based on the current stock price.