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Highlights
- Material is the worst-performing sector on the ASX today (April 26).
- S&P/ASX 200 Index was also 1.91% or 142.60 points lower at 7,330.80.
- Lithium stocks like Sayona Mining and Core Lithium are also trading in red.
The Australian share market plunged at the outset on Tuesday (April 26), owing to fresh concerns over the COVID-19 situation in China as well as interest rate hikes.
Most ASX lithium stocks are also performing lower today (26 April 2022). Although there is not any such news to explain about the lithium stocks prices, this might be because of the S&P/ASX 200 Index, which was 1.91% or 142.60 points lower at 7,330.80, and S&P/ASX Materials Index which was 4.82% or 873.20 points lower at 17,248.70 at the time of writing this article.
On the other side, materials sector is not performing well too (-4.85%), followed by the energy and utilities sectors.
In this article, we will discuss the performance of three lithium companies, including Sayona Mining Limited, Core Lithium Limited, and Pilbara Minerals Limited.
Image Source: © 2022 Kalkine Media ®
Sayona Mining Limited (ASX:SYA)
Sayona Mining Ltd (ASX:SYA) informed today (26 April 2022) that drilling results from its Moblan Lithium Project in northern Québec have shown the finding of a new southern lithium pegmatite zone near the main Moblan deposit. This is an area in which Sayona owns a 60% stake.
Lithium mineralisation has been discovered at shallow depth 200 metres south of the main Moblan deposit, according to assay findings from two holes drilled at the newly designated Moblan South Discovery.
The Moblan South Discovery is a unique spodumene pegmatite zone that is open in every direction.
Meanwhile, Sayona's shares were trading 2.78% lower at AU$0.35 each at the time of writing this article.
Also Read: Sayona Mining (ASX:SYA) shares gain on projects update
Source: © Design56 | Megapixl.com
Core Lithium Limited (ASX:CXO)
Core Lithium Ltd is a mineral exploration firm based in Australia. The company is concentrating on developing the Finniss Lithium Project and other possibilities in the Northern Territory (NT) and South Australia.
Also Read: Why is Core Lithium (ASX:CXO) share price in focus?
The company's shares have shed over 11% in the last one week. However, it has provided around 127% YTD returns to its investors. At the time of writing this article, Core Lithium's shares were trading at AU$1.34 apiece, down 3.76% on ASX.
Pilbara Minerals Limited (ASX:PLS)
Pilbara Minerals Limited is an Australian mineral exploration, development, and operations company. The company owns the Pilgangoora lithium-tantalum project in Western Australia fully. Pilbara, which is located in West Perth, was established in 2005.
Pilbara Minerals' shares have been continuously going down since the beginning of this month. The company has provided a negative growth of over 37% since 4 April 2022. However, the shareholders of this company have booked a profit of around 16% in the last six months.
Pilbara Mineral's shares were trading 5.24% lower today at AU$2.63 each at the time of writing this article.
