Canada Lithium Shares Slump 34 per cent

The Montreal Gazette reports that Canada Lithium Corp. shares slumped 34 per cent to 88 cents in Toronto Tuesday after the company reported its $202-million lithium carbonate mine 60 kilometres north of Val d’Or may not be rich as expected.

The report is quoted as saying:

Canada Lithium recently raised $126.5 million of equity to help finance the project to mine hardrock spodumene and process it into lithium carbonate for production of new lightweight batteries for all-electric and hybrid cars.

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