The Sayona Mining Ltd (ASX: SYA) share price is off to the races today, up 7.6%.
The ASX lithium share closed yesterday trading for 23 cents and is currently trading for 24 cents.
There’s no fresh price-sensitive news out to directly impact Sayona Mining. But there’s certainly plenty of investor interest. More than $17 million worth of trades have gone through today already.
What are ASX investors considering?
Sayona Mining looks to be benefiting from a strong, broader run higher amongst most ASX lithium shares today.
Lithium, a lightweight conductive metal, is a core element in lithium-ion batteries. And with global battery production booming amid the transition to EVs and grid storage, lithium prices remain near all-time highs.
After closing down 2.2% yesterday, the Sayona Mining share price may also still be receiving some tailwinds from Tuesday’s update on its North American Lithium operation.
The miner reported the project is progressing toward production. Drilling and blasting work will kick off next month. The first lithium carbonate/hydroxide production is forecast for the first quarter of 2023.
Sayona Mining share price snapshot
Sayona Mining has been a stellar performer in 2022, with shares up 73%. That compares to a year-to-date loss of 15% posted by the All Ordinaries Index (ASX: XAO).
The post ASX lithium mania: Sayona Mining share price rocketing 8% today appeared first on The Motley Fool Australia.
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More reading
- September living up to its ‘worst month of the year’ reputation as ASX 200 finally cracks
- Why are these ASX lithium miners powering up today?
- Why Brainchip, New Hope, Sayona Mining, and Talga are pushing higher
- Sayona Mining share price leaps 7% on lithium project news
- Here’s which ASX lithium shares investors have been loading up on this month
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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