In comparison to some of the high-flying lithium giants like Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE) shares in Lithium Australia NL (ASX: LIT) had a tough start to the year.
This after Lithium Australia NL launched an unsuccessful takeover bid that lasted well into the year amidst a supreme court battle over proprietary technologies with rival mining company Lepidico Ltd (ASX: LPD).
The court battle has since been resolved with both companies being allowed to further develop their respective technologies and Lithium Austraia NL maintaining the rights to utilise the LMax ®process (100% owned by Lepidico Ltd) in Western Australia only.
Lithium Australia had some great successes in refining its SiLeach ® lithium extraction processes, which started the path of correction for the company's share price in July of this year.
The company announced its quarterly results today highlighting expanded operations in Queensland and continued exploration projects in Germany to continue the joint venture with Tin International.
The company also announced the completion of stage 1 of its due diligence for the acquisition of additional technologies through the purchase of the Very Small Particle Company Pty Ltd (VSPC).
Lithium Australia NL is hopeful that this acquisition will create a revolutionary and streamlined process for the production of lithium cathode materials giving them a distinct competitive advantage in the rapidly growing market.
Lithium Australia NL has posted a string of positive announcements lately including last week when the share price surged over 12% after announcing the company had taken a controlling stake of 54% in the Electra Lithium project in North Western Mexico.
Today the company received a 'Speculative Buy' rating from Perth broker RM Research.
Although the lithium miner is some way from becoming profitable given its significant investments and acquisition activity throughout the year it is certainly going to be one to watch.
Foolish takeaway
Having held shares in the company previously I am definitely considering rebuilding a position following these recent announcements. With the growing popularity for electric vehicles and new battery technologies, the inflating lithium price does not appear to be slowing, at least in the medium term.