The lithium exploration space may have attracted plenty of investors in recent times but over the course of the past week the Ameriwest Lithium (OTCMKTS:AWLIF) stock has been a notable underperformer. The slide continued in the stock on Thursday as it ended the day with a decline of 21%.
That took its losses for the past week to as much as 31%. While it is true that the stock has tanked, the company actually made a pretty positive announcement earlier on this week. Ameriwest announced on Wednesday that it had got a geophysics report with regards to the lithium bring concentrations at its Deer Musk East property in Nevada.
More importantly, the geophysics report in question was highly positive as well. The report, which is titled “Geophysical Exploration for Deer Musk East Claim Area”, was prepared by Advanced Geoscience Inc and it noted that there there was a strong possibility of the presence of lithium brine deposits in at the property.
However, in this context, it is also necessary to point out that Advanced Geoscience also noted that the company will need to conduct more geophysics studied in order to get a better idea. It remains to be seen if the Ameriwest stock can have a rebound.
