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Sign of returning life for lithium

In a sign that investors have started to calm down after fears of lithium flooding the market, Australian lithium developer Pilbara Minerals (AU:PLS) regained some lost ground today, rising almost 7.5%.
Sign of returning life for lithium Sign of returning life for lithium Sign of returning life for lithium Sign of returning life for lithium Sign of returning life for lithium

Equities coming out from under a cloud after last week’s sell-off

Staff reporter

ASX-listed lithium miner Galaxy Resources (AU:GXY) also looked up, gaining 4.3%.

In Canada, Nemaska Lithium managed a gain of 1.13% yesterday, although all three companies are yet to return to last week's share price levels and Lithium Americas (CN:LAC) headed almost 4% lower.

Global lithium stocks were sold off last week in the wake of dominant producer SQM getting expansion approval from the Chilean government.

Back in Australia, rare earths producer Lynas Corp (AU:LYC) was up close to 7% intraday, despite lower production due to an extended shutdown, as it outlined an improved balance sheet and record cashflow from operating and investing activities for the December quarter.

Meanwhile the gold price is slightly higher than this time yesterday at US$1,335 an ounce and the US dollar weaker, as US politicians agreed on a short-term funding arrangement to end the three-day government shutdown.