LBNK.v gains 40% in one week. LithiumBank (TSXV: LBNK) shares saw a very strong week, gaining nearly 40%. There are multiple reasons for this bullish price correction, however I believe there is one key development that spurred this movement.
On October 13, the company announced that following a hydrogeological study at its Boardwalk Project, it is able to confirm the capability of long term, consistent high volume lithium brine production. Results show that the key hydraulic parameters within the Leduc formation present on the property allow for consistent, high volume brine production over the assessment period of 20 years.
LBNK.v is heading into next week trading at $.89, valued at $33.09 million.
https://ceo.ca/@globenewswire/boardwalk-hydrogeology-capable-of-long-term-consistent