(Alliance News) - Kodal Minerals PLC on Monday noted its recent share price increase, but the lithium-focused development and exploration firm fell short of offering a reason for the surge.
The London-based company said it is "not aware" of any "company-specific" cause for its share price climb.
Kodal shares were 14% lower at 0.069 pence each in London on Monday afternoon. They closed 88% higher at 0.080p on Friday and surged as high as 0.11p earlier on Monday.
Kodal added: "The company notes recent pronouncements about the level of investment in the electric vehicle and battery markets, which are the principal driver of demand for lithium, with Europe attracting EUR60 billion of investment in the last year and also the German government's announcement of an increase in subsidies for purchases of electric vehicles."
By Eric Cunha; ericcunha@alliancenews.com
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Kodal Minerals (KOD)