LKE fell -16.7% yesterday having only just entered the ASX200 after the MD quit and then sold stock, hardly a vote of confidence. This is a company that is backed by the Bill Gates-led Breakthrough Energy Fund and its flagship Kachi project is situated in Argentina where 40% of the world’s lithium production already comes from i.e. prime location.
The company which is aligned with tech partner Lilac Solutions uses proprietary clean extraction technology which all sounds great but there are clearly some issues somewhere under the hood, its unlikely that MD Steve Promnitz would have departed in such a dramatic fashion without having greater concerns i.e. if in doubt we see no reason to buy LKE.
MM is neutral LKE
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