The Lake Resources N.L. (ASX: LKE) share price is 4.65% higher on Thursday amid an-almost 35% rebound over the past three weeks.
Lake Resources shares are currently sitting at 22.5 cents after retreating slightly from an intraday high of 23 cents.
The lithium explorer was among the top 10 ASX 200 risers yesterday too, with a 4.9% lift to 21.5 cents.
There is no news from the company today, so what's driving all this positive momentum?
Here's a quick recap of recent events.
Lake Resources share price riding a wave of positive news
The last price-sensitive news out of Lake Resources came on Wednesday last week.
The company announced it was on track to complete the Definitive Feasibility Study (DFS) at its flagship Kachi lithium brine project in Argentina by December.
Earlier in the month, Lake Resources revealed that exploratory drilling, successful extraction, and reinjection testing at Kachi had confirmed the large scale and quality of the project.
The lithium explorer also announced "important progress" toward finalising a power solution. A revised design includes the capability for off-grid commissioning and early production of lithium carbonate.
In a move that should cut future production costs, Lake Resources has also relocated the process plant closer to the resource extraction area.
CEO David Dickson commented in last week's update:
We have drilled deeper for better grades and improved our drilling performance by 40% this year. Grades from recent extraction tests are 20% higher than exploration samples and we can expect further JORC updates prior to submitting the DFS.
Lake last updated its resource estimate for the Kachi lithium brine project on 15 June.
The company increased its estimate by 53%. It raised the Measured, Indicated, and Inferred estimate from 5.29 million tonnes (Mt) to more than 8.1 Mt of lithium carbonate equivalent (LCE).
This compares to the maiden mineral resource estimate of 4.4 Mt announced in November.
Share price snapshot
The Lake Resources share price has traded between a low of 16 cents and a high of $1.41 over the past 52 weeks.
Shares in the ASX 200 lithium stock remain down 80% over the past 12 months.
