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Canadian Lithium Shares Recover About One-Third of 46% Drop Since Monday

Canadian Lithium Corp (CLQ.TO) shares are recovering a portion of their 46% loss

since Monday, climbing about 19% today.

CLQ shares began their freefall, sliding from $1.35 a share to $0.72 by yesterday's close after the company said indicated resources at its Quebec lithium mine may not be as large as previously estimated. The miner issued another announcement today further explaining the reasons for hiring an outside firm to analyze data as part of efforts to determine the full extent of the property.

The independent review is expected to be completed within a few weeks, company officials said, adding that if a more detailed audit is required it will likely take "a number of months" to complete.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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