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Lithium Australia (ASX:LIT) share price lower despite LieNA update
The Lithium Australia NL (ASX: LIT) share price is sinking on Friday despite the release of a positive announcement.
In morning trade, the lithium company’s shares are down a disappointing 4% to 12.5 cents.
What did Lithium Australia announce?
This morning Lithium Australian announced that its LieNA pilot plant has been given the green light.
According to the release, LieNA is a caustic conversion technology with strong parallels to the production of alumina from bauxite. The process can produce a range of lithium chemicals, including hydroxide, carbonate, and phosphate.
Management notes that lithium phosphate is the preferred product, as it is easy to refine. It also commands a price premium over hydroxide or carbonate and is…
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