Lithium Australia releases business update, Sheds light on Group’s progress in maintaining operations

  • Jul 20, 2020 AEST
  • Team Kalkine

Lithium Australia NL (ASX:LIT) announced the business update amid the uncertain business environment due to Covid 19 pandemic. The Company now focuses on near-term cash flow:

  • Soluna Australia is anticipating positive cash flow by December 20 Quarter.
  • Envirostream Australia revenue expected to increase significantly in FY2020.

LIT reported a reduction in outgoings: 

  • Decreased activity in capital-intensive business units due to travel bans.
  • Cash at 30 June 2020 – AUD 3.5 million, with significant R&D tax refunds over the next six months.


The website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


Penny stocks have been known to attract investors who are looking for explosive gains and it is possible to get lucky with these typically speculative investments. Just as the name suggests, penny stocks trade at low prices and are common shares of small public companies.

Get an exclusive insight into the features of penny stocks along with their pros and cons. Read about what you should be wary about when figuring out ways to invest in them, so that the possibility for big rewards does not tend to outweigh the risks.

Find out more about penny stock winners from 2019

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK