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Lake Resources (ASX:LKE) – Notable News

March 3, 2022

Lake Resources (ASX:LKE, BUY, A$2.20 target, David A. Talbot) announced that its partner Lilac Solutions’ lithium brine demonstration plant is being delivered to the Kachi project site. It has been assembled and shipped from California following extensive test work. Management believes this direct lithium extraction technology will be disruptive as it cuts operating costs and boosts lithium recovery from Li brines. Pilot project production should further de-risk the project for all stakeholders including offtakers, financiers and investors. Data will be used for the DFS and material for qualification samples. Lake Resources recently announced plans to fast-track its portfolio of assets in Argentina (read more). It’s Target 100 Program has the goal of producing 100,000 tpa of high purity LCE by 2030 from Kachi and three new 100%-owned lithium projects including Olaroz, Cauchari and Paso. Management has increased demand for LCE offtakes, financial support by the UK and UK Export Credit Agencies, support of the Argentina Government, and confidence in its technology partner, Lilac Solutions, that it can scale up cost effective direct lithium extraction. Flagship Kachi lithium brine project guidance recently increased to 50,000 tpa LCE in the DFS given 1) its large resource base, and 2) financial commitments from Canada and the UK to fund 70% of the initial and expansion Capex. Read more

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