Impact: Neutral
Lake Resources provided an operational update for its 90%-owned, Kachi Li brine project in Argentina. Following the announcements for the critical operational milestones achieved at its demo plant (read more) and resource growth update (read more) provided earlier this week, the company provided several updates, with the most significant announcement related to its upcoming and highly anticipated DFS, which is now slightly delayed and expected to be published in mid-2023. While a delay is not unexpected, it may impact potential valuations. We therefore push our production forecast out by two quarters in our model to mid-2025. As a result of this change, we are decreasing our target price slightly to A$3.15/sh (was A$3.30/sh).
