Why Atlantic Lithium, Coronado Global, Lake Resources and Rio Tinto charge more


Image source: Getty Images

In the afternoon discussions, the S&P/ASX 200 Index (ASX:XJO) is on track for a modest gain. As of this writing, the benchmark is up 0.2% to 6,993.1 points.

Four ASX stocks that are climbing more than most are listed below. Here’s why they charge more:

Atlantic Lithium Ltd. (ASX: A11)

Atlantic Lithium stock price is up 33% to 94 cents. Investors bought the shares of this lithium explorer following the publication of an update on the drilling activities of its Ewoyaa Main deposit in Ghana. CEO Lennard Kolff commented: “The latest infill drilling results at the current resource of the main Ewoyaa deposit returned several high-grade pegmatite intervals greater than 1.5% Li2O and up to 95m long. , with the hole ending in mineralization, which builds confidence in the future. Conversion of resources into reserves. »

Coronado Global Resources Inc. (ASX: CRN)

Coronado Global stock price is up 9% at $2.10. This morning, the Morgans team retained its added rating on shares of this coal miner with an improved price target of $2.40. The broker notes that Coronado Global generated higher than expected revenues and profits in the last quarter. He was also happy to see a special dividend declared.

Lake NL Resources (ASX: LKE)

Lake Resources’ share price is up 5.5% at $1.12. The catalyst was the publication of a positive message update on the demonstration plant of the lithium developer of the Kachi project in Argentina. Lake revealed that it is now processing brines from Kachi and delivered an on-spec product in initial testing.

Rio Tinto Limited (ASX: RIO)

Rio Tinto’s share price is up 2.5% at $92.79. This morning, the mining giant revealed that he has made a breakthrough in his quest to acquire the rest of Turquoise Hill. If successful, the company will increase its stake in the huge Oyu Tolgoi copper and gold project in Mongolia to 66%.


Comments are closed.