Li-FT Power Achieves 98% Lithium Extraction in Yellowknife Project Testwork

Li-FT Power Ltd. ( (TSE:LIFT) ) has shared an announcement.

Li-FT Power Ltd. has announced successful preliminary results from lithium conversion testwork on spodumene concentrate from its Yellowknife Lithium Project. The testwork, conducted by SGS Canada, demonstrated lithium extraction rates of up to 98%, marking a significant technical milestone for the company as it aims to become a key supplier of high-quality lithium for the North American battery market.

Spark’s Take on TSE:LIFT Stock

According to Spark, TipRanks’ AI Analyst, TSE:LIFT is a Underperform.

Li-FT Power Ltd. is struggling with significant financial challenges, including zero revenue and persistent losses, which are the primary factors affecting its stock score. Although the company has a solid equity base and minimal leverage, its negative cash flow and reliance on external financing present risks. The stock’s bearish technical indicators and unattractive valuation further weigh on its score. While recent corporate events suggest potential growth, these are not sufficient to overcome the current financial difficulties.

To see Spark’s full report on TSE:LIFT stock, click here.

More about Li-FT Power Ltd.

Li-FT Power Ltd. operates in the lithium industry, focusing on the exploration and development of lithium projects. The company is primarily involved in producing high-quality lithium for the North American battery supply chain, with a significant focus on the Yellowknife Lithium Project in Northwest Territories, Canada.

YTD Price Performance: -27.13%

Average Trading Volume: 27,137

Technical Sentiment Signal: Buy

Learn more about LIFT stock on TipRanks’ Stock Analysis page.