The S&P/ASX 200 Index (ASX: XJO) is rising 0.18% today and among its highest flyers is ASX 200 lithium share Sayona Mining Ltd (ASX: SYA).
The Sayona Mining share price is up 4.9% and is currently 26.75 cents. But that impressive lift actually pales in comparison to the 43% gain the ASX 200 lithium share has already made in the new year.
There’s no news out from the ASX 200 lithium company today, but it did release its quarterly activities statement for December yesterday.
What’s the latest news from this ASX 200 lithium share?
As my colleague Bernd reported, Sayona revealed it is mere weeks away from restarting its flagship North American Lithium (NAL) project. It expects to achieve first production of lithium spodumene ore in 1Q 2023.
Sayona has also launched a pre-feasibility study (PFS) on the potential to produce lithium carbonate at NAL. The PFS results are expected in April.
If the PFS goes well, Sayona reckons it has about half the facilities required to produce carbonate already. This is because the previous owners built some facilities before Sayona bought the project.
Sayona got a big response to its report and was among the most heavily traded ASX 200 shares of the day. The Sayona share price was up 7% at one point but ended up closing even at 26 cents.
Market optimism that lithium prices will remain higher for longer has no doubt contributed to the Sayona share price rise in 2023. Other ASX 200 lithium shares have also made impressive gains so far this year.
About Sayona Mining
Sayona is an emerging lithium producer with mining assets encompassing lithium, graphite, and gold.
Its primary focus is the North American Lithium (NAL) project in Quebec, Canada.
Not only does it want to pull lithium out of the ground there, it also wants to process it to supply the fast-growing local battery and electric vehicle market.
It also holds interests in East Kimberley Graphite Project and the Western Australia Lithium/Gold Project.
The post Guess which ASX 200 lithium share has already rocketed 43% in 2023 appeared first on The Motley Fool Australia.
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Motley Fool contributor Bronwyn Allen 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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