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Highlights
- Shares of Sayona Mining were 7.69% up, trading at AU$0.14 each on ASX today (July 14).
- ASX 200 Materials Index was 2.14% up at 14,884 points today at 3.13 PM AEST.
After trading in the red for a couple of days, Sayona Mining Limited's (ASX:SYA) shares gained today and at 3.12 PM AEST, the lithium mining giant’s shares were 7.69% up, trading at AU$0.14 each on ASX.
Sayona did not make any specific announcement today which could be seen as the reason behind the gain made by the company’s shares. ASX 200 Materials Index, however, was 2.14% up at 14,884 points today at 3.13 PM AEST.
It is to be noted that materials was the top performing sector today, followed by energy, IT, healthcare and others. The materials sector has been off by 1.26% for the past five days.
Lithium prices have stayed high despite Goldman Sachs' pessimistic outlook for the precious metal. In addition, there is still speculation that lithium demand will eventually outpace supply.
Other details about Sayona
In the recent past, Sayona has shared much information about its business.
Key highlights
Image Source: © 2022 Kalkine Media ®
Data Source- Sayona’s ASX announcements in June and July 2022.
How are other lithium stocks doing?
Another lithium producer Pilbara Mining (ASX:PLS), which conducted its most recent spodumene concentrate auction utilising its online Battery Material Exchange (BMX) platform, provided information about the auction results today (14 July, 2022).
A 5,000 DMT (dry metric tonnes) cargo with the desired lithia content of 5.5% was for sale online. The beginning of the product delivery is anticipated for late August 2022.
Post news, Pilbara shares were trading in the green. At 3.23 PM AEST, the shares of Pilbara were 4.24% higher, trading at AU$2.46 apiece on ASX.
Other lithium companies like Piedmont (ASX:PLL) shares were 1.49% up (AU$0.51 each), Core Lithium (ASX:CXO) was 2.86% higher (AU$0.90 apiece), and Allkem Limited (ASX:AKE) was 2.39% higher (AU$9.87 a share) on ASX at 3.27 PM AEST.
