Why are Lepidico (ASX:LPD) shares grabbing the limelight today?

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Why are Lepidico (ASX:LPD) shares grabbing the limelight today?

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ASX LPD share price
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Highlights

  • Investors are keeping lithium specialist LPD on the radar.
  • The lithium industry is continuously driven by tightening in demand-supply fundamentals. 

Australian lithium company Lepidico Ltd (ASX:LPD) has been grabbing the spotlight today.

While it traded strong on 27 January 2022 after the company released its quarterly report, LPD has tumbled significantly from past one week.

As per the company’s report, despite COVID-19, LPD’s Namibia based flagship Karibib project was open throughout the whole quarter. 

The company had carried out the project with work-from-home arrangements with its highly vaccinated staff. 

Moreover, LPD remained well funded throughout the last quarter, ending with cash of AU$10.4 million, with zero debt. 

The company has witnessed solid demand for its Phase 1 Sulphate of Potash (SOP). It received LOI for c.150% of annual production from two consumers. Now it anticipates receiving more letters of Intent (LOIs) during this quarter.

Related read - Lithium supply concerns persist in the global electric vehicle sector

As per LPD, the tightening in demand-supply fundamentals continuously drives the lithium industry. This has resulted in a fundamental supply deficit.  

LPD share price movement 

Although the scrip is down by 15% on YTD, it has gained 13% in the last three months. The stock has gained 15% in the previous 12 months.

It has been trading at AU$0.036 per share, with an average volume of 59,198,058.

Road ahead

LPD has been bullish on future lithium prices and expects little market balance in the upcoming years. 

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