ASX's Vulcan Signs Deal To Sell Lithium to South Korea's LG Chem

I've liked Vulcan for a long time as a Zero Carbon Lithium Provider with a strong European presence. This latest news with South Koreas LG Chemical would certainly seem to reduce some of the supply chain risk in the business in terms of long term high profile relationships. LG Chem is one of the biggest battery manufacturers - especially for Electric Vehicles - in the World.

Short version: "Australia-listed lithium miner Vulcan Energy Resources VUL said on Monday it had signed a long-term deal to sell lithium hydroxide from its German project to the battery unit of South Korea's LG Chem 051910".

You can see it has tried to break out and make some new highs but has failed each time, so worth keeping an eye on it.

Comment:

Nice big move ~ 26%

Comment:

BIG drop on a shorters report. VUL has disputed the findings in the report. Will be interesting to see how quickly VUL recovers to close that price gap (assuming it does recover).