Why are Core Lithium’s (ASX:CXO) shares up nearly 3% today?

2 min read | November 09, 2022 02:45 AM GMT | By Bhawna Gupta

Highlights

  • Core Lithium’s shares were trading at AU$1.55 apiece, up 2.82% on ASX today (9 November).
  • This outperforms ASX 200 Materials index, which was up 2% at 16,482 points at 11.13 AM AEDT.

Shares of ASX-listed Core Lithium (ASX:CXO) were trading in the green today (9 November). At 11.12 AM AEDT, the company's shares were trading at AU$1.55 apiece, up 2.82% on ASX today. This outperforms ASX 200 Materials index, which was up 2% at 16,482 points at 11.13 AM AEDT. Materials was the top-performing sector today at 11.13 AM AEDT.

Why are Core Lithium’s shares trading higher?

Core which is engaged in the business of metal and mining did not share any price sensitive news today. However, the surge in the share price might be because of the overall sectoral performance.

Meanwhile, on 31 October 2022, Core had shared its quarterly activities report for the period ended 30 September 2022.

Image source: © 2022 Kalkine Media® 
Data source- Company announcement dated 31 October 2022

It further said that the Grants Open Pit's initial spodumene resource was discovered in the middle of September. To keep the crusher circuit on schedule for commissioning, the company continued the work.

Core’s stock performance

In the last five trading sessions, Core' shares have climbed by 12.10% and over 35% in the last month. However, the company's shares have zoomed more than 145% on a year-to-date basis.


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