The market is bouncing back from a disastrous Wednesday and these ASX mining shares are helping it recover.

They’re lifting as much as 29% on Thursday. So, what’s helping to drive them higher? Let’s take a look.

3 ASX mining shares taking off on Thursday

Auroch Minerals Ltd (ASX: AOU)

The first ASX mining share going gangbusters today is nickel, copper, and lithium explorer Auroch Minerals.

Its stock is taking off on news of its 80%-owned Nevada Lithium Project.

Following a site visit by senior management, the company has put an experienced team including geologists, land management, and legal counsel in place to drive work at the project.

Meanwhile, a drilling program has been designed for the project and local contractors approached to run it.

The Auroch Minerals share price is surging 29.3% at the time of writing to trade at 7.5 cents.  

Caspin Resources Ltd (ASX: CPN)

Its fellow ASX mining share Caspin Resources is also taking off.

The mineral exploration company announced a major rhodium find at its Yarawindah Brook Project today.

Multiple holes at the project’s Serradella platinum group elements discovery have returned significant rhodium mineralisation, adding further value to the find.

A six-month drilling campaign is set to kick off at the discovery next month.

The news has sent the Caspin Resources share price soaring. The ASX mining share is trading 22.3% higher at 79.5 cents right now.

Latin Resources Ltd (ASX: LRS)

Finally, the Latin Resources share price is joining some of its ASX mining peers in the green today despite no price-sensitive news having been released by the company.

However, it did drop a presentation outlining an expected increase in demand for lithium over the coming years and the company’s plan to tap into the market.

The Latin Resources share price is trading at 12.5 cents right now, 8.7% higher than its previous close.

The post 3 ASX mining shares going bananas today appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX lithium share is rocketing 27% on project news
• How are ASX lithium shares faring amid Wednesday’s carnage?
• Are Yamaha and Toyota about to upend the ASX lithium share party?
• Investors are obsessed with ASX lithium shares, but what about this other critical battery metal?
• Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?

Motley Fool contributor Brooke Cooper 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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The Coronado Global Resources Inc (ASX: CRN) share price is on a tear, trading well into the green from the open today.

At the time of writing, shares in metallurgical coal producer are swapping hands for $1.852 apiece, a jump of 9.26%.

Let’s check what’s going on.

What’s up with the Coronado Global share price?

Energy players, including Coronado, are surging today in a complete reversal of yesterday’s wipeout.

The S&P/ASX 200 Energy Index (ASX: XEJ) is currently up 3.87%, making it the top performing sector so far — well ahead of the second-placed financials, just 0.94% higher.

Buyers have been active on energy stocks today amid a higher US inflation print on Tuesday and continued upside from the coal price.

In fact, coal has been the major commodity darling this year – along with its buddy, lithium – having advanced more than 150% in the past 12 months to a new record high of $460/tonne two weeks ago.

The heavy buying activity has stemmed from a number of factors, including robust demand, consistent supply disruption (largely owing to the war in Ukraine), and other inflationary trends.

For Coronado, the price action in the coal markets has resulted in strong gains for the year to date, as seen below.

This, and other industry tailwinds, has caught the eye of analysts at Macquarie, with the broker retaining its outperform rating in a recent note.

Macquarie reckons Coronado is a good way to for investors to gain exposure to the coal segment, albeit without the risk of holding the underlying commodity itself.

It values Coronado Global at $3.50 a share, suggesting there’s more than 100% upside if the broker gets it right.

In the last 12 months, the Coronado share price has gained 42%.

The post Why is the Coronado share price leaping 9% on Thursday? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Zach Bristow 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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The Beach Energy Ltd (ASX: BPT) share price is up 4.09% today. And it’s not just this company recovering well after yesterday’s bloodbath.

Investors may be pleased that ASX energy shares are engulfed in a sea of green this afternoon.

The S&P/ASX 200 Energy Index (ASX: XEJ) is up 3.82% around lunchtime on Thursday.

Meanwhile, many of Beach Energy’s peers are more buoyant than yesterday.

New Hope Corporation Limited (ASX: NHC) is up the most at a 5.46% gain, while Paladin Energy Ltd (ASX: PDN) and Viva Energy Group Ltd (ASX: VEA) are up 2.79% and 2.19%, respectively.

So why are energy shares rallying now after posting such a dismal result yesterday? Let’s investigate.

Citi upgrades Beach Energy price target, oil and gas outlook improves

Beach Energy’s share price target was upgraded this morning, as reported by The Australian.

Citi analyst Paul McTaggart bumped Beach Energy’s price target by 2% to $1.88. That gives an appreciable upside of 10.58% for the company’s shares at the time of writing.

McTaggart’s thesis on the upgrade for Beach and that of other energy shares comes amid a continuing energy crisis, with an escalation being Russia’s indefinite closing of the Nord Stream 1 gas pipeline on 2 September.

McTaggart said:

Due to fuel switching, impacts of high European natural gas and power prices have reverberated across the entire energy sector globally. Politically, Russia and the West could be in a tit-for-tat spiral that keeps Russian natural gas exports low. Weather also does not look to offer much relief to the market.

Meanwhile, the Department of Energy spokeswoman Charisma Troiano said it intends to replenish its Strategic Petroleum Reserve in the United States, but this won’t occur sometime after 2023, as the Australian Financial Review reports.

Troiano also said that the department’s speculated plans to buy oil once it reaches $80 per barrel are “inaccurate” and that there is no trigger price for the contract.

Troiano said:

The Department of Energy proposed an approach months ago to replenish the Strategic Petroleum Reserve, and that approach does not include any such trigger proposal. As we said then, we anticipate that replenishment would not occur until well into the future, likely after fiscal year 2023.

Beach Energy share price snapshot

Shares of the oil and gas exploration company currently trade for $1.72.

The Beach Energy share price is up 31% year to date. That’s much better than the performance of the S&P/ASX 200 Index (ASX: XJO), which is down 9.7% over the same period.

The company’s market capitalisation is $3.76 billion.

The post Why is the Beach Energy share price having such a stellar session? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• Here’s why the ASX 200 could be set up for an almighty rally before the end of this horrible year for stocks
• 5 things to watch on the ASX 200 on Friday
• Here’s why ASX 200 energy shares are diving lower today

Motley Fool contributor Matthew Farley 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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A new frontier for banks has formed in recent years, one that blurs the line between banking and technology. Now, banking constituents of the S&P/ASX 200 Index (ASX: XJO) are all racing to tap into a younger demographic, one that demands digital prowess.

In the past, a bank might have persuaded customers with friendly service. However, in the modern era physical branches are becoming a thing of the past. Instead, people are opting for all their financial frivolities to be placed at their fingertips.

The insatiable appetite for zippy application approvals, swathes of data insights, and savvy tech tools have led ASX 200 banks into a new competitive tech landscape. So, how is this modern era of banking beginning to shake out?

Battle brewing between ASX 200 banks

Each of Australia’s big four major banks has been making an effort to cater to a more tech-oriented audience. However, the progress between each of the publicly-traded banks varies.

For instance, the Commonwealth Bank of Australia (ASX: CBA) is considered to be at the front of the pack. The largest bank in the country boasts a range of technology-centric offerings to its customers, including an AI-powered claims assessor; a buy now, pay later product (StepPay); smart EFTPOS terminals; and a comprehensive app.

In February, Commonwealth Bank announced plans to hire up to 150 technology specialists to further spearhead its campaign of tech innovation.

On the topic of hiring, in April, National Australia Bank Ltd (ASX: NAB) revealed its own intentions of hiring 1,500 specialists this year. At the time, the ASX 200 bank highlighted that approximately 60% of its applications were now hosted in the cloud.

More recently, a Westpac Banking Corp (ASX: WBC) executive described how the 205-year-old bank is keeping with the times. Westpac consumer and business banking chief executive, Chris de Bruin said:

I think it [mobile app] is a crucial battleground. The reason is simple. If you think about how we interact with our customers – we interact 30 times more with customers using digital assets than physical assets.

Furthermore, Westpac intends to roll out the ability to view and manage accounts with other banks directly in their app sometime in the future.

What about ANZ?

The smallest of the big four, Australia and New Zealand Banking Group Ltd (ASX: ANZ) is making moves of its own. As reported by The Motley Fool Australia previously, the ASX 200 bank share is focusing on tech to enable a return to growth for the business.

So far, ANZ Plus — a digitally revamped bank offering — has captured over $500 million in funds under management. Although, ANZ chair Paul O’Sullivan has made no secret that it hasn’t come without some teething issues.

For now, the battle rages on between ASX 200 bank shares. As interest rates continue to be ratcheted up, there will be a greater need for banks to distinguish themselves with more than competitive rates — that is, if they want to maintain their margins.

The post Which ASX 200 bank share will win the great tech battle? appeared first on The Motley Fool Australia.

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More reading

• CBA share price edges higher amid acquisition rumours
• Westpac share price lifts amid latest competitive push
• ASX 200 shares dump $60 billion in horror session. Here’s how Wednesday unfolded
• Why has the NAB share price tanked 3% today?
• Macquarie shares bear the brunt of bank sell-off amid inflation bomb

Motley Fool contributor Mitchell Lawler has positions in Commonwealth Bank of Australia. 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 recommended Westpac Banking Corporation. 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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The Lithium Energy Ltd (ASX: LEL) share price is charging higher on Thursday after returning from a trading halt.

In afternoon trade, the lithium explorer’s shares are up 14% to $1.37.

At one stage, the Lithium Energy share price was up as much as 19% to $1.43.

Why is the Lithium Energy share price charging higher?

Investors have been bidding the Lithium Energy share price higher today following the release of a positive announcement.

According to the release, the company has raised $15 million before costs through a heavily oversubscribed placement to new and existing institutional and sophisticated and professional investors.

These funds were raised at $1.00 per new share, which represents 16.7% discount to the Lithium Energy share price prior to its trading halt.

Why is Lithium Energy raising funds?

The proceeds from the capital raising will be used primarily to accelerate and potentially expand exploration activities at the Solaroz Lithium Brine Project in Argentina.

In addition, the proceeds will support the advancement of the Burke Graphite Project in Queensland and for general working capital purposes.

Management highlights that the highly prospective flagship Solaroz Lithium Brine Project is located in the heart of South America’s world-renowned Lithium Triangle. It counts Allkem Ltd (ASX: AKE) and Lithium Americas Corporation as neighbours.

Drilling activities have commenced and management is now using the funds raised to secure additional drilling rigs to accelerate the programme.

The post Here’s why Lithium Energy shares are shooting 14% higher today appeared first on The Motley Fool Australia.

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More reading

• Why is the Beach Energy share price having such a stellar session?
• Which ASX 200 bank share will win the great tech battle?
• $830 million sale: Is the iShares ASX 200 ETF a record holder now?
• Pilbara Minerals share price rebounds, wiping all of Wednesday’s losses
• Why a leading fund manager rates these 2 ASX 200 mining shares as buys

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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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The iShares Core S&P/ASX 200 ETF (ASX: IOZ) has been rangebound today and currently trades less than 1% higher at $28.20 a share

This is around the same as the index the fund tracks. The benchmark S&P/ASX 200 Index (ASX: XJO) is also up less than 1% on the day so far, tracking 0.66% higher at the time of writing.

Big exit for one large player

Now reports have surfaced of what’s been labelled as the “single largest trade” of an exchange-traded fund (ETF) in the asset class’s history.

ASX trade data from August reveals that one institutional investor, a superannuation fund, sold down $830 million of its position in the ASX 200 ETF on 19 August, as reported by The Australian.

“It is understood the client held the ETF for several years before selling, with some suggestion the withdrawal proved the fund’s positive performance,” it wrote.

The trade has been the single largest on the ASX for an ETF and marks a large collection of cash for the super fund.

What this means for the super fund looking ahead, or where it intends to reallocate the capital, is unknown at this stage.

While there’s been a number of macro-variables plaguing the benchmark index in the new financial year, price action since the trade [shown via the red dashed line] has headed lower, as seen below.

The move is in contrast to net fund flows into Australian investment funds for the past month, with nearly US$1.2 billion in net inflows to ETFs during that time.

Meanwhile, the iShares Core S&P/ASX 200 ETF has lost around 9% in the past 12 months. As expected, it’s in line with the benchmark index’s near 8% drop over the same period.

The post $830 million sale: Is the iShares ASX 200 ETF a record holder now? appeared first on The Motley Fool Australia.

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More reading

• Pilbara Minerals share price rebounds, wiping all of Wednesday’s losses
• Why a leading fund manager rates these 2 ASX 200 mining shares as buys
• Guess which ASX lithium share is rocketing 27% on project news
• Lake Resources share price continues to dive, down 24% in a week
• Here’s why Nuix shares are hitting the headlines again

Motley Fool contributor Zach Bristow 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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The Pilbara Minerals Ltd (ASX: PLS) share price is making a comeback today.

After recording a 3.16% loss at Wednesday’s market close, shares in the emerging lithium producer are up 3.49% to $4.75.

This comes as the broader ASX recovers from yesterday’s nasty $60 billion sell-off following the latest inflation numbers from the US.

Let’s take a look at what’s driving Pilbara Minerals shares higher on Thursday.

Why is the Pilbara Minerals share price up and away today?

Despite the company not making any announcements today, investors are continuing to drive up the Pilbara Minerals share price.

The rampant demand for lithium has created a widening supply gap that lithium and battery metal producers can’t keep up with.

Evidently, this has led investors to buy up shares in Pilbara Minerals and other lithium companies.

A report by the IEA projects that demand will grow by more than 40 times over the next two decades. Furthermore, graphite, cobalt and nickel are expected to follow, with demand accelerating to about 20-25 times.

The price of lithium carbonate has rocketed 240% year-on-year, which bodes well for Pilbara Minerals.

The company announced that FY23 production will ramp up to 580,000 dry metric tonnes (dmt). This represents around a 50% increase compared to the 377,902 dmt achieved in FY22.

The S&P/ASX 200 Materials (ASX: XMJ) sector is also up 6.8% in the past week and could go higher given the positive outlook on the lithium industry.

About the Pilbara Minerals share price

Pilbara Minerals shares have raced 95% higher since this time last year.

It’s worth noting that the company’s share price has equalled its all-time high of $4.79 today before slightly retracing.

Pilbara Minerals presides a market capitalisation of approximately $13.7 billion and has 2.98 billion shares on its books.

The post Pilbara Minerals share price rebounds, wiping all of Wednesday’s losses appeared first on The Motley Fool Australia.

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More reading

• The Vulcan share price sank 7% today in ASX sea of red
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Inflation fears crash Pilbara Minerals share price party
• Expert predicts stock market will crash 20% lower in the next four weeks as US inflation rages out of control
• Why are ASX 200 shares tumbling like dominos on Wednesday?

Motley Fool contributor Aaron Teboneras has positions in Pilbara Minerals Limited. 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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The fund manager Wilson Asset Management (WAM) has recently identified some S&P/ASX 200 Index (ASX: XJO) mining shares that it owns (or owned) in one of its main portfolios.

WAM operates several listed investment companies (LICs). Two of these LICs are WAM Capital Limited (ASX: WAM) and WAM Research Limited (ASX: WAX).

There’s also one called WAM Leaders Ltd (ASX: WLE) that looks at the larger businesses on the ASX, often referred to as ASX blue-chip shares.

WAM says WAM Leaders actively invests in the highest quality Australian companies. But does WAM have a good reputation for picking stocks?

The WAM Leaders portfolio has delivered gross returns (before fees, expenses, and taxes) of 14.9% per annum since its inception in May 2016. This compares to the S&P/ASX 200 Accumulation Index average return of 8.4% over the same time period.

These are the ASX 200 mining shares that WAM outlines in its recent monthly update.

South32 Ltd (ASX: S32)

WAM described South32 as a global diversified metals and mining company, with a portfolio of assets producing aluminium, alumina, manganese ore, copper, zinc, lead, silver, nickel and metallurgical coal. Quite the list.

The fund manager noted that South32 reported a “strong earnings result”. Further, it surprised the market with a dividend above what the market was expecting. It also increased its share buyback by $220 million.

WAM is still positive on this ASX mining share because of its “future-facing portfolio optionality”. This includes the expansion of the recently-acquired SierraGorda copper mine and the Hermosa pre-feasibility study on the manganese Clark oxide deposit due later this calendar year. It was also pointed out that further investment in Illawarra Metallurgical Coal is no longer proceeding.

South32 has “transformed the portfolio since its demerger in 2015 and management continues to be proactive in reviewing and optimising their operations”.

OZ Minerals Limited (ASX: OZL)

This is the other ASX 200 mining share that WAM identified. It’s an Australian- and Brazil-based copper, gold and nickel producer.

Last month, BHP Group Ltd (ASX: BHP) lobbed a non-binding, indicative bid to buy OZ Minerals. The offer was at a 32% premium to the closing share price on 5 August 2022.

The board of OZ Minerals decided to reject the offer because of a number of reasons.

Reasons include that it has a high-quality portfolio of assets and the unique proposition that OZ Minerals is the only major primary copper miner on the ASX.

The fund manager agrees with the board that the assets have “strategic appeal” to several players that are seeking greater exposure to future-facing materials. It believe further proposals are “likely”.

The post Why a leading fund manager rates these 2 ASX 200 mining shares as buys appeared first on The Motley Fool Australia.

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More reading

• Why is the South32 share price sinking 7%?
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Keen on bagging the latest South32 dividend? You’ll need to be quick
• Here are 3 ASX 200 shares turning ex-dividend tomorrow

Motley Fool contributor Tristan Harrison 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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The Auroch Minerals Ltd (ASX: AOU) share price has been a very strong performer on Thursday.

At the time of writing, the junior lithium explorer’s shares are up 29% to 7.5 cents.

Why is the Auroch Minerals share price up 29%?

The catalyst for the rise in the Auroch Minerals share price today has been the release of an update on the company’s 80%-owned Nevada Lithium Project in the United States.

According to the release, the company’s senior management conducted a site visit in late June and early July to further assess the geology of the key prospect areas, together with meeting key stakeholders.

The release reveals that while at the site, the company has established an experienced Nevada-based team. This includes geologists, land management and legal counsel. They will be tasked with driving the project forward.

What is the Nevada Lithium Project?

The Nevada Lithium Project comprises a large area that is considered highly prospective for large sedimentary-hosted lithium deposits across four prospect areas.

It is located close to the mining town of Tonopah in the mining-friendly counties of Nye and Esmeralda in the State of Nevada. The region is home to some very large sedimentary-hosted lithium deposits including the Rhyolite Ridge Project owned by Ioneer Ltd (ASX: INR) and American Lithium Corporation’s TLC Lithium Project.

An initial 1,000m reverse-circulation (RC) drill programme has been designed to selectively test stratigraphic targets within the project area. Drill-holes have been planned in areas of mapped Siebert Formation, the same geological formation which hosts the large TLC Lithium Project.

Permitting for the maiden drill programme has commenced and the approvals process is expected to be completed within four to six weeks.

Finally, local drilling contractors have been approached and the company is in the process of awarding the drilling contract.

Auroch’s managing director, Aidan Platel, commented:

We are pleased with the progress we have made at our Nevada Lithium Project (NLP). Having an experienced local team is critical to the success of the Project, and since establishing our team they have been very busy reviewing all historic data and completing detailed field mapping of our key prospect areas, as we work towards a maiden drill programme.

After reviewing this work to-date and seeing the geology first-hand, we are very excited by the potential of the NLP to host significant lithium mineralisation, especially when looking at the success of our neighbours in the region, most notably American Lithium Corporation’s large TLC Lithium deposit which is very close to our project area. As such, we are working hard to progress through the permitting process towards commencing a maiden drill programme at the NLP.

The post Guess which ASX lithium share is rocketing 27% on project news appeared first on The Motley Fool Australia.

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More reading

• Lake Resources share price continues to dive, down 24% in a week
• Here’s why Nuix shares are hitting the headlines again
• CBA share price edges higher amid acquisition rumours
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Motley Fool contributor James Mickleboro 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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The Lake Resources N.L. (ASX: LKE) share price is continuing to slide on Thursday, dumping another 3.11%.

It follows yesterday’s dire session for the S&P/ASX 200 Index (ASX: XJO) lithium stock, in which it tumbled 16.5%.

The Lake Resources share price is trading at $1.03 at the time of writing. That’s 23.73% lower than it was this time last week.

For context, the ASX 200 has lifted 0.38% over the last seven days despite yesterday’s 2.58% tumble – its worst single-session fall since June.

So, what’s been going wrong for the lithium favourite? Let’s take a look.

What’s going wrong for Lake Resources this week?

The Lake Resources share price is in the red once more today despite the company’s silence.

It follows the stock’s disastrous Wednesday tumble, seemingly spurred by news of conflict between the company and its Kachi Project partner Lilac Solutions amid the market’s sell-off.

The pair have an agreement that could see Lilac earning a 25% stake in the project. However, they have reached a disagreement over the exact terms of the deal.

To receive its share, Lilac must complete at least 1,000 hours of operations of the project’s Lilac Pilot Unit and produce a minimum of 2,500 kilograms of lithium carbonate equivalent from onsite operations.

But the pair are at odds over when such milestones must be reached for Lilac to receive its promised stake.

Lake Resources believes the boxes must be ticked by the end of this month, while Lilac is under the impression it has until the end of November.

If the achievements are not completed by the required date, Lake Resources could choose to exercise certain buy back rights.

The company also announced the appointment of its next CEO and managing director slightly over a week ago.

David Dickson’s employment contract states he will take on the top job at the company today.

Lake Resources share price snapshot

Its recent tumble sees the Lake Resources share price in the longer-term red.

Right now, the stock is trading for 5% less than it was at the start of 2022. Though, it has gained 103% since this time last year.

For comparison, the ASX 200 has slumped 10% year to date and 7% over the last 12 months.

The post Lake Resources share price continues to dive, down 24% in a week appeared first on The Motley Fool Australia.

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More reading

• How are ASX lithium shares faring amid Wednesday’s carnage?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Lake Resources, Lovisa, Megaport, and St Barbara shares are dropping
• Lake Resources share price slides 18% amid market rout and project dispute
• Why did the Core Lithium share price leap another 6% on Tuesday?

Motley Fool contributor Brooke Cooper 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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