Why Standard Lithium Stock Soared Today
Yes, Standard Lithium's news today is good, but don't get irrationally exuberant just yet.
Lithium mining start-up Standard Lithium (NYSEMKT: SLI), which (six months after I last wrote about it) still isn't actually producing any lithium at all, is nonetheless enjoying a banner day on the stock market Tuesday, its shares up 7.8% through 10:10 a.m. ET. And why?
Standard Lithium could soon turn into a real lithium company.
In an 8-K filing with the SEC this morning (containing a press release apparently issued yesterday), Standard Lithium announced that the South West Arkansas project (SWA) of its Smackover Lithium joint venture with Norwegian energy concern Equinor ASA has been designated a "priority transparency critical mineral project" under President Trump's Executive Order 14241 on "Immediate Measures to Increase American Mineral Production."