During the course of the past week, the American Lithium Corp (OTCMKTS:LIACF) stock has emerged as one of the notable gainers and the rally in the stock continued on Wednesday. Yesterday, the stock jumped by 6.50% as investors continued to flock to it and that took its gains for the past week to as much as 20%.
The latest rally in the stock may have been triggered by an announcement from the company earlier on this week with regards to breakthrough in the process development at the Tonopah Lithium Claims (TLC) Project. The project in question is located at Tonopah in the state of Nevada.
In its update, American Lithium noted that process work that is being conducted by Hazen Research Inc has revealed that the roasted lithium from TLC, when treated with water leaching, led to as much as 82% of lithium being extracted.
More importantly, the lithium that is extracted also showed considerably lower content of impurities. The company also announced that this alternative process of processing lithium is also going to be investigated further. It is a major announcement from the company considering the long term ramifications of such a breakthrough. Investors could do well to keep the stock in their watch lists at this point.
Market Reaction:
On Wednesday, LIACF stock moved up 6.43% to $1.49 with more than 566k shares, compared to its average volume of 595k shares. The stock has moved within a range of $1.4000 – 1.5000 after opening the trade at $1.40. Over the past 52-week, the stock has been trading within a range of $0.1460 – 3.3200.
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