Core Lithium (ASX:CXO) closes in the green today. Here’s why

January 05, 2023 05:33 PM AEDT | By Khushboo Joshi

Core Lithium (ASX:CXO) closes in the green today. Here’s why — Image source: © Avigatorphotographer | Megapixl.com

Key highlights from today’s announcement:

Lithium miner Core Lithium furnished a significant business update today that drove the share prices higher on the ASX.
The company shared that a ship named Rossana, containing 15,000 dmt of 1.4% Li2O spodumene Direct Shipping Ore (DSO), has started sailing from Darwin Port for a customer in China.
The spodumene concentrate has been produced by Core Lithium’s Finniss Lithium Operation.
This shipment is the maiden shipment of lithium product from Finniss and is the company’s first revenue event.
Core Lithium shared that the DSO cargo was tendered in October using a digital exchange platform and purchased by a lithium-ion battery supply chain participant in Fangcheng, China, for a price of US$951/dmt.
Loading of the Rossana started on 30 December 2022.

Recent share price performance of Core Lithium on the ASX:

The shares of Core Lithium have gained 17.46% in the last five trading days on the ASX. However, in the past one month, the shares have lost 14.62% on the ASX. During the last six months of trading on the ASX, Core Lithium has moved up by 19.35% and in the last one year of trade, the company shares have gained 85% on the ASX. On a year-to-date basis, the shares have moved up 9.90% and in the last five years of trading, the shares have gained a whopping 1,287.50% on the ASX (as of 4:10 PM AEDT, 5 January 2023).

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