As LithiumBank (TSXV: LBNK) inches closer towards production at the Boardwalk Lithium Brine Project, the company’s share price action is showing a classic trend of higher highs and lower lows.
In the past two months, LBNK shares have hit highs of $1.05 and $1.10. Currently, shares are consolidating along the 50MA at around $.90, remaining above the last rebound price of $.80. If shares begin to use the 50MA as a line of support, I expect we should see this bullish trend continue.
LBNK has engaged Hatch to test 2 Direct Lithium Extraction Technologies in order to inform a PEA and subsequent design of a commercial plant at the Boardwalk Project. Updates on this could provide a solid catalyst, as it will mark a pivotal step toward production.
LBNK.v is currently trading at $.9, valued at $33.46 million.
https://ceo.ca/@globenewswire/lithiumbank-engages-hatch-to-test-boardwalk-lithium