Lithium Australia NL ( (AU:LIT) ) has shared an announcement.
Livium Ltd has announced that the insurance claim period related to a 2019 fire at its subsidiary Envirostream has ended, with no new claims anticipated. The company has received confirmation that settlement proceedings are advancing between certain claimants and Envirostream’s insurance company, which could lead to the release of a A$7.5 million provision from Livium’s balance sheet. This development is expected to positively impact Livium’s financial position, as previous settlements have already resulted in a reversal of provisions, enhancing the company’s balance sheet and income statement.
More about Lithium Australia NL
Livium, formerly known as Lithium Australia, is focused on leading the global transition to sustainable lithium production. The company operates Australia’s leading battery recycling business, produces lithium ferro phosphate (LFP), and has developed a patented lithium extraction technology called LieNA®. Livium’s operations are strategically positioned to benefit from the increasing global demand for lithium-ion batteries, offering diversification advantages to global supply chains.
Average Trading Volume: 23,215
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $9.64M
Learn more about LIT stock on TipRanks’ Stock Analysis page.
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