Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) shares soared 25% on Tuesday after the lithium exploration company published a bullish open letter addressed to shareholders.
“It has been a productive few months for Bradda Head, with ongoing positive indicators from our operational drilling, fieldwork, permitting efforts and strategic discussions in the US and Canada associated with all our US-based projects,” wrote the board.
The board made it clear that this is not reflected in the valuation of Bradda Head.
Lithium demand is expected to ramp up as electric vehicles and energy storage systems drive demand and supply growth remains challenging.
At the close of Tuesday trades, Bradda head stock was priced at 4.25p with a market capitalisation of £16.2 million.