If I'd invested $1,000 in Core Lithium shares at the start of 2022, here's what I'd have now

It's been a good year so far for the lithium favourite and its investors.

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Key points

  • Core Lithium shares have soared 93% in 2022 so far
  • In the past year, they have surged by 162% 
  • Core Lithium is exploring the Finniss Lithium Project in the Northern Territory 

Core Lithium Ltd (ASX: CXO) shares have exploded 93% this year to date.

Despite a few ups and downs — they've been as low as 60 cents and as high as $1.69 — the company's shares have come out on top.

So how much money would I have now if I had invested in this ASX lithium share at the start of the year?

Good investment?

On 4 January, the first day of trading in 2022, Core Lithium shares were fetching 60 cents at market open.

Let's imagine I had invested $1,000 in Core Lithium on this day. I would have walked away with 1,666 shares at this price.

Today these shares are fetching $1.14 a share, based on Monday's closing price. Now, this investment would be worth $1,899.24. So I would have made more than $899. If I had bought $10,000 worth of shares, I would have made nearly $9,000.

Now let's take a look at the broader picture for Core Lithium shares.

On 13 September, Core Lithium hit a yearly high of $1.665 at market close. On this day, my shares would have been worth $2,773.89.

But overall, if I had invested $1,000 in Core Lithium at the start of this year, I would be very happy with my investment — despite the fact the company has not paid any dividends.

Core Lithium shared positive news to the market on Monday. As my Foolish colleague James reported, the company's Finniss Lithium mine in the Northern Territory held an official opening.

The company revealed it is "on target" to export direct shipping ore (DSO) lithium by the end of the year.

Core Lithium share price snapshot

Core Lithium shares have soared 162% in the past year, while they have descended 29% in the past month.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has fallen almost 9% in the last year and 3% in the past month.

The company has a market capitalisation of about $1.98 billion.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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