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Highlights
- Shares of Core last exchanged hands at AU$1.18 each, down 0.42% on ASX today.
- This underperforms ASX 200 Materials index which closed 1.92% higher at 18,410.10 points.
Shares of Core Lithium Ltd (ASX:CXO) closed in the red today (9 December). The materials company's shares last exchanged hands at AU$1.18 each, down 0.42% on ASX today.
Although there is no such news shared by the company today. This underperforms ASX 200 Materials index which closed 1.92% higher at 18,410.10 points.
Lets' take a look at the company's recent development.
Last month (on 28 November), Australasian Metals Limited (ASX:A8G) announced that the Northern Arunta pegmatite province in the Northern Territory will be the subject of a joint study initiative between Australasian Metals and the Centre for Exploration Targeting (CET) of the University of Western Australia (UWA). Core Lithium Limited, Oceana Lithium Limited, Askari Minerals Limited, and Lithium Spring Limited, who are all actively prospecting for lithium-related minerals in the North Arunta Pegmatite district, will all provide funding to the initiative.
Image source: © Velvetweb | Megapixl.com
The extremely promising Northern Arunta Pegmatite Province is home to several rare metal pegmatite fields. A lot of these are thought to be lithium-caesium-tantalum compounds (LCT). World-class lithium and tantalum deposits can be found in Western Australia in pegmatites, a form of rare-element pegmatite, at places like Greenbushes, Pilgangoora, and Wodgina. There might also be other pegmatites, like those connected to rare earth elements.
Stock performance: Shares of Core Lithium have provided a negative growth of around 26% in the past month. However, the shares have grown over 86% on a YTD basis and 135% in the last one year.
