Core Lithium (ASX:CXO) share price lifts amid bosses’ optimistic outlook

Core Lithium’s future is blindingly bright if its bosses are to be believed.
The post Core Lithium (ASX:CXO) share price lifts amid bosses’ optimistic outlook appeared first on The Motley Fool Australia. –

The Core Lithium Ltd (ASX: CXO) share price is lifting amid news the company plans to reach steady state production in financial year 2023.

Core Lithium’s chair Greg English also noted lithium industry forecasters’ optimistic predictions. He stated experts predict the commodity’s price will grow considerably in the medium-term.

That would place the company’s Finniss Lithium Project‘s commencement date in direct alignment with increasing demand.

The comments were released this morning in the company’s 2021 annual report.

At the time of writing, the Core Lithium share price is 41.5 cents, 1.22% more than its previous close.

Let’s take a closer look at what Core Lithium’s bosses expect the company will achieve in the future.

Core Lithium’s directors look to a prosperous future

The Core Lithium share price is gaining on the back of the company’s 2021 annual report.

Within the report, English commented the company will be focusing on its Finniss Lithium Project and the land surrounding it in the Northern Territory this financial year.

Construction on the project is set to begin shortly.

He also flagged the company might look to acquire nearby lithium and tin tenements. It also plans to attempt to grow the Finniss mine’s life to more than 10 years.

Additionally, Core Lithium’s managing director Stephen Biggins noted underinvestment in lithium supply has left the world with a shortage of low-risk projects like Finniss.

According to Biggins, Finniss will be the only lithium mine in the Northern Territory.

Core Lithium also expects to be the only ASX-listed, Australian-based company beginning new lithium spodumene concentrate production in 2022.

The project is expected to produce 175,000 tonnes of spodumene concentrate each year from late next year.

That’s right when Core Lithium’s managing director and chair believe demand for the product will increase, leaving the company in a strategically fortunate position from 2023 and onwards.

Core lithium share price snapshot

The Core Lithium share price has been performing well on the ASX lately.

It is currently 186% higher than it was at the start of 2021. It has also gained a whopping 888% since this time last year.

The post Core Lithium (ASX:CXO) share price lifts amid bosses’ optimistic outlook appeared first on The Motley Fool Australia.

Should you invest $1,000 in Core Lithium right now?

Before you consider Core Lithium, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Core Lithium wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

ASX lithium shares are rallying across the board today. Here’s why.

The Core Lithium (ASX:CXO) share price has gained 8% in a week
Why ASX lithium shares are having a bumper start to the week

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 Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!