International Lithium (CVE:ILC) Shares Down 20% – Here’s What Happened

Shares of International Lithium Corp. (CVE:ILC) dropped 20% on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. Approximately 468,436 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 686,069 shares. The stock had previously closed at C$0.03.

International Lithium Price Performance

The company has a market capitalization of C$5.45 million, a price-to-earnings ratio of 3.00 and a beta of 0.02. The company has a current ratio of 43.32, a quick ratio of 54.82 and a debt-to-equity ratio of 2.78. The company’s 50 day simple moving average is C$0.03 and its 200-day simple moving average is C$0.02.

About International Lithium

International Lithium Corp. engages in the investment, exploration, and development of mineral properties in Canada, Zimbabwe, and Ireland. It primarily explores for lithium, rubidium, caesium, and rare metal deposits. The company primarily focuses on the Raleigh Lake Lithium and Rubidium Project located in Canada and identifying additional properties in Canada and Zimbabwe. It also has an option agreement to acquire 90% interests in the Grass Roots Copper and Cobalt property located in Northwestern Ontario.