Following significant losses in the previous session, Australian shares recovered thanks to increased banking and energy sectors. Local miners were hurt, meanwhile, by a decline in underlying prices brought on by further COVID-19 restraints in China. Seneca Financial Solutions’ Luke Laretive visited ausbiz to talk about lithium.
While prices are still at record highs, several lithium stocks are down 20 to 60 per cent. Luke doesn’t believe the lithium stock bull market is over and mentions certain stocks for investors to keep an eye on if they want to invest in this industry. Vulcan Energy Resources is the first stock on his list (VUL).
To hear his additional recommendations, watch the entire interview. In the news, short-seller J Capital Research claimed that Lake Resources NL’s (LKE) plans to produce lithium in Argentina are based on a Lilac Solutions process that most likely does not work. This allegation is the most recent attack against a wave of new technologies aiming to produce the metal for the electric vehicle battery.
Watch the interview below: