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American Lithium Corp.’s stock is experiencing a dramatic revival following its new US listing and a promise to update investors on its much anticipated Nevada project.
Shares have surged 51% since the start of the year, topping peers including Lithium Americas Corp., Ioneer Ltd. and Piedmont Lithium Inc. even as prices for the silvery white metal cool from the steep ascent in 2022.
“It makes me feel good, but I don’t spend every day watching the stock price,” Chief Executive Officer Simon Clarke, 57, said in a Tuesday interview at Bloomberg’s Toronto bureau. “We are trying to move forward and advance two very large development-stage projects.”
Clarke credits the stock bump to landing a Nasdaq listing this month and upbeat investor reaction on company plans to soon release more details of its TLC project in Nevada. The Vancouver-based explorer is developing projects in Peru and Nevada as demand for lithium soars. The CEO said he sees plenty of “positives” for the industry, driven by ongoing demand for battery metals and electric vehicles, that should bode well for American Lithium.
“As long as that happens and we continue to advance these projects and hit some milestones, I think we’ll do well,” he said.
(By Jacob Lorinc, with assistance from Joe Deaux and Yvonne Yue Li)
Related: American Lithium says US funding will shore up nascent industry
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Xolani Teddy Diniso
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