Lithium Exploration Group, Inc. (OTCMKTS:LEXG) Loses More Positions Despite Publicity
Lithium is the other hot key word these days, and we have yet another company taking the center of attention. Unfortunately, for Lithium Exploration Group, Inc. (OTCMKTS:LEXG) the best days are left behind, and the price is caught in a downward momentum. LEXG wiped more than 19% of its value to reach $0.0755, on selling volumes above $797,000. For this ticker, the very strong gains from March 3rd are almost gone. 
The March promotion for LEXG also did not help prop up the landslide- despite the $50,000 budget for the promotion and the bright promises of pumper Stand Out Stocks. Despite the large promotional budget, it’s been a while since a new message landed. 
LEXG was not helped by the latest financial filing, which revealed:
- $244,346 cash
- $1.4 million total current liabilities
- No revenues
- Above $30 million losses since inception
The price also seems to have completely absorbed the news of Tesla, Inc. (NASDAQ:TSLA) planning to build an $5 billion factory for li-ion batteries. It was precisely this piece of news, plus the expectation of a boom in electric car sales, that propped up several other lithium mining companies.
It also seems that LEXG has wider interests, ranging from water treatments to spill cleanups. It is therefore strange why the company reveals no revenues. It is even stranger how LEXG plans to pay for a stake in an oil well, as it also expanded into water injection technologies and energy resources.
For LEXG, there was also the bad publicity surrounding CEO Alex Walsh. It is therefore paradoxical that the company is still seen as a positive potentiality by investors’ forums, with a price of $0.50 mentioned as a target for the end of the year.
What happened to LEXG is similar to the graph of Amerilithium, Corp. (OTCMKTS:AMEL), which reached nearly 20 cents, only to wipe out half of its value, currently hanging on at above $0.10. AMEL also rode the cheerful promise of TSLA buying up all the lithium it could for its production facility- but the time frame of the stock price was much smaller than it would take to put the planned megafactory into production mode.
The fallout for Lithium, Corp. (OTCMKTS:LTUM) are similar- the ticker touched the 13-cent levels, but has sank back on several solid days of selling, down to $0.07.
What is common to those businesses is the lack of solid resources which certainly does not match the ambitious plans of the companies. If you like any of those tickers, even as a bargain, keep in mind that publicity has brought them higher than possible, but that there is no guarantee for a rebounce.
