The Neometals Ltd (ASX: NMT) share price has been a stand out performer today with a 6% gain to 27.5 cents.
This will no doubt be a welcome relief to shareholders. The junior lithium miner’s shares are down around 18% year-to-date.
Why the jump today?
As well as getting a boost from a rally in lithium mining shares, this morning Neometals released an update on its Mt Marion operation in response to an announcement out of China-based Ganfeng Lithium Co.
On Friday Ganfeng Lithium Co revealed the excellent performance of Mt Marion concentrates in its production of battery quality lithium carbonate and hydroxide.
Neometals confirmed the quality of the concentrates that it shipped and advised that it expects similar quality concentrates in its next shipment that is due to depart on June 27.
According to the release, the company has shipped a total of 79,000t of concentrates from February to the end of May.
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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.