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Highlights
- At 12.20 PM AEDT, Core’s shares were trading at AU$1.38 apiece, up 1.85% on ASX.
- This outperforms ASX 200 Materials index, which was up 0.76% at 15,457.60 points at 12.21 PM AEDT.
Core Lithium's (ASX:CXO) shares were trading in the green zone today (4 November). At 12.20 PM AEDT, the company's shares were spotted trading at AU$1.38 apiece, up 1.85% on ASX. This outperforms ASX 200 Materials index, which was up 0.76% at 15,457.60 points at 12.21 PM AEDT. Sectorally too, materials was one of the best-performing stocks today at 12.21 PM AEDT.
Why are Core's shares trading higher today?
While the company shared no price-sensitive update today, the gain in share price might be because of the strength in the overall sector.
However, yesterday (3 November), the company's shares fell. Following Jerome Powell's hawkish remarks on Wednesday’s night (3 November), the benchmark S&P 500 Index (SP:INX) dropped 2.50%.
As a result of rising Treasury yields, the S&P 500 and Nasdaq had their fourth consecutive decline. After momentarily turning positive, the Dow started to decline again.
However, the overall ASX 200 index is down by merely 1.60 points or 0.023% at 6,859.50 points.
Core's recent developments
Most recently, on 31 October, the company shared its activities report for the September 2022 quarter. Significant corporate and project development to safely push Finniss towards first DSO exports in Q4 CY22 and maiden spodumene concentrate in H1 CY23 dominated activities during the September quarter, Core said in an ASX filing.
It further informed that the Grants Open Pit's initial resource of spodumene was discovered in the middle of September. During the same time, to keep the crusher circuit on schedule for commissioning, work continued and to speed up the ramp-up of the Dense Media Separation (DMS) plant building for commissioning, a night shift was implemented.