LEXG Bought at $1.5 - Sold at @$1.6 6.5% profit in 2hrs

6.5% gain in under 2 hrs trading LEXG on news of them acquiring property in Chile for lithium extraction. Nice little day trade. The picture below I think is of similar lithium extraction operation in the Atacama desert in Chile. I just surfed around on Google Earth based on the places in the news article until I found something that looked like an evaporation pond in the middle of nowhere. I think extracting lithium involves pumping up brine from under these Andean salt lakes, and using the hot desert sun to evaporate off the water until you get the mineral salts. Building a big plant like this, up at 9,000ft in the most inhospitable landscapes on the planet definitely requires quite some start capital, so there is definitely money involved here.

Given that my first little foray into LEXG paid  for my next two months of electricity bills I might get back in within the new few and see where it will go.

Here is the five minute chart for LEXG for 4/4/2010.