Red Rock Resources shares whipsawed on Thursday after the company announced it had begun shipping lithium earlier in the week.
In a release issued on Wednesday, Red Rock said they had begun shipping lithium from Zimbabwe to a port in Mozambique, adding they had 200 tonnes ready to be shipped.
However, the update lacked any major details, and investors dumped shares yesterday, before the stock rebounded on Thursday.
After a 7% fall on Wednesday, Red Rock shares opened 3% lower on Thursday before rebounding.
The company announced the targeting of lithium in Zimbabwe earlier this year and revealed a series of early-stage samples from rock outcrops in the country.
Red Rock has not confirmed any sales value of the lithium currently being shipped.
Red Rock Resources has a broad portfolio of precious and base metals, lithium, and fossil fuels across Africa and Australia.
The company generated zero revenue in the most recently reported half-year and has issued new equity on numerous occasions this year.
Shares are down 60% over the past year.