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Lake Resources: Proposed Close-Out of Convertible Securities Facility

Lithium explorer and developer Lake Resources NL (ASX: LKE) announces that conditional terms are being negotiated with SBI Investments (PR), LLC.

Lithium explorer and developer Lake Resources NL (ASX: LKE) announces that conditional terms are being negotiated with SBI Investments (PR), LLC, with the intention to permit the early pay out of the Convertible Securities funding facility through a combination of both cash and the issue of shares, which will likely include an additional equity based fee in consideration for the termination of the facility.

Should terms satisfactory to Lake be able to be agreed, then Lake considers that it will undertake a capital raising in order to fund part or all of any cash component to be paid.

The two-tranche funding facility, with key terms announced on 28 February 2019 and extended in October 2019, was to provide bridging capital for project development and exploration activities for the Company. Lake has progressed the projects to a stage where the production of a high purity of lithium product has been demonstrated. A Pre-Feasibility Study (PFS) will be released in the coming weeks, followed by larger high purity samples being sent to potential off-takers from a pilot plant.

Lake is hopeful a formal agreement with SBI will be reached shortly and further updates (including in respect of any proposed capital raising) will be provided in due course.

About Lake Resources NL (ASX:LKE)

Lake Resources NL (ASX:LKE, Lake) is a lithium exploration and development company focused on developing its three
lithium brine projects and hard rock project in Argentina, all owned 100%. The leases are in a prime location among the lithium sector’s largest players within the Lithium Triangle, where half of the world’s lithium is produced at the lowest cost.

Lake holds one of the largest lithium tenement packages in Argentina (~200,000Ha) secured in 2016 prior to a significant ‘rush’ by major companies. The large holdings provide the potential to provide consistent security of supply, scalable as required, which is demanded by battery makers and electric vehicle manufacturers.

The Kachi project covers 70,000 ha over a salt lake south of FMC/Livent’s lithium operation and near Albemarle’s Antofalla project in Catamarca Province. Drilling at Kachi has confirmed a large lithium brine bearing basin over 20km long, 15km wide and 400m to 800m deep. Drilling over Kachi (currently 16 drill holes, 3100m) has produced a maiden indicated and inferred resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) (refer ASX announcement 27 November 2018).

A direct extraction technique is being tested in partnership with Lilac Solutions, which has shown 80-90% recoveries and lithium brine concentrations 30-60,000 mg/L lithium. Battery grade lithium carbonate has been produced from Kachi brine samples with very low impurities (Fe, B, with <0.001 wt%). Phase 1 Engineering Study results have shown operating costs forecast in the lowest cost quartile (refer ASX announcement 10 December 2018). Test results have been incorporated into a Pre-Feasibility Study (PFS) aimed to be released soon. The Lilac process is being trialed with a pilot plant in California which will then be transported to site to produce larger battery grade lithium samples. Discussions are advanced with downstream entities, mainly battery/cathode makers, as well as financiers, to jointly develop the project.

The Olaroz-Cauchari and Paso brine projects are located adjacent to major world class brine projects either in production or being developed in the highly prospective Jujuy Province. The Olaroz-Cauchari project is located in the same basin as Orocobre’s Olaroz lithium production and adjoins the Ganfeng Lithium/Lithium Americas Cauchari project, with high grade lithium (600 mg/L) with high flow rates drilled immediately across the lease boundary.

The Cauchari project has shown lithium brines over 506m interval with high grades averaging 493 mg/L lithium (117-460m) and high flow rates, with up to 540 mg/L lithium. These results are similar to lithium brines in adjoining pre-production areas under development and infer an extension and continuity of these brines into Lake’s leases (refer ASX announcements 28 May, 12 June 2019).

Significant corporate transactions continue in adjacent leases with development of Ganfeng Lithium/Lithium Americas
Cauchari project with Ganfeng announcing a US$237 million for 37% of the Cauchari project previously held by SQM,
followed by a further US$160 million to increase Ganfeng’s equity position to 50% on 1 April 2019, together with a resource that had doubled to be the largest on the planet. Ganfeng then announced a 10 year lithium supply agreement with Volkswagen on 5 April 2019. Nearby projects of Lithium X were acquired via a takeover offer of C$265 million completed March 2018. The northern half of Galaxy’s Sal de Vida resource was purchased for US$280 million by POSCO in June-Dec 2018. LSC Lithium was acquired in Jan-Mar 2019 for C$111 million by a mid-tier oil & gas company with a resource size half of Kachi. These transactions imply an acquisition cost of US$55-110 million per 1 million tonnes of lithium carbonate equivalent (LCE) in resources.

Click here to connect with Lake Resources NL (ASX:LKE) for an Investor Presentation

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Lake Resources CEO Stephen Promnitz: Scaling Lithium Supply with $150 Million Series B Funding

Lake Resources Managing Director Stephen Promnitz

Lake Resources (ASX:LKE,OTCQB:LLKKF) Managing Director Stephen Promnitz says Lake Resources has secured robust financing to scale up lithium production in preparation for the electric vehicle revolution.

Lake Resources has recently established a technology and funding partnership with Lilac Solutions, and the latter has announced $150 Million Series B to scale lithium supply for the electric vehicle era.

Lake Resources: Scaling Lithium Supply with $150 Million Series B Funding www.youtube.com

"Lilac Solutions are actually going to work with us and progressively earn into our flagship Kachi project, and then provide $50 million towards the development of that project. So come the end of October, we should have somewhere around $70 to $80 million in the bank, plus this $50 million commitment from Lilac going forward. And then if we have some additional $75 million options in June next year. Essentially, we can now see a pathway to the entire project being financed," Promnitz said.

Lake Resources and Lilac Solutions signed a partnership agreement wherein Lilac is able to achieve an equity stake in the Kachi project with project funding obligations while providing its leading technology to advance the project.

"There's a real deal here, and now value opportunity. But on top of that, we've de-risked it from the debt side and from the equity side. This project is going to happen, and not only that, we're going to be scaling it up to 50,000 tonnes per annum soon after we get into production. That will make us one of the top five producers in the lithium space."

Watch the full interview of Lake Resources Managing Director Stephen Promnitz above.

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Ioneer Ltd is pleased to announce that the Company has reached an agreement to establish a joint venture with Sibanye Stillwater Limited to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA . Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. ioneer …

Ioneer Ltd (“ioneer” or the “Company”) (ASX: INR) is pleased to announce that the Company has reached an agreement to establish a joint venture (the ” Joint Venture “) with Sibanye Stillwater Limited ( “Sibanye-Stillwater” ) to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA (the “Project” ). Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. ioneer has also agreed to provide Sibanye-Stillwater with an option to participate in 50% of the North Basin 1 upon the election of Sibanye-Stillwater to contribute up to an additional US$50 million subject to certain terms and conditions.

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Galaxy Resources Limited advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform : Merger of Galaxy and Orocobre Implemented The announcement can be viewed at: SOURCE Galaxy Resources Limited View original content

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Merger of Galaxy and Orocobre Implemented

The announcement can be viewed at:

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Sydney Opera House at night

Robotics is an area of investing that is growing in Australia ― but is it a sector worth investing in?

The global robotics industry is expected to grow at a compound annual growth rate of 7.8 percent through 2028 according to the Global Industrial Robotics Market Analysis 2020. Robotics is an area of investing that is growing in Australia ― but is it a sector worth investing in?

Broadly speaking, robotics is the design and construction of robots. This can include core automation and production, industrial software, robot technology and integration of robotics. From drones to self-driving cars to toys ― robotics is a growing industry that is beginning to permeate our daily lives.


The distinction between robotics and AI can be a little confusing, but essentially think of robotics like the body and AI like the brain. Both can exist separately, and they are powerful when combined. The goal of a robot is to complete a task faster and more efficiently than a human.

What does the market look like?

The COVID-19 pandemic has seen technology sectors such as robotics accelerate as businesses have faced global challenges. Robotics has been able to help keep spaces safer by replacing humans with robots on factory lines, in eCommerce warehouses or on healthcare frontlines taking temperatures or disinfecting spaces.

What is Australia doing to support the robotics sector?

In early 2020, the Robotics Australia Network was formed to accelerate growth of the domestic robotics industry. The network aims to strengthen global competitiveness and cement Australia as a global leader in robotics.

How does the Australian robotics sector stack up?

According to the International Federation of Robotics, in a ranking of the world's most automated countries it's not even in the top 10. Number one is Singapore, followed by South Korea then Japan.

The investment space for pure robotics companies is relatively small, with greater opportunities to invest in more broader technology, AI and automation stocks.

Who are the big players in robotics stocks?

Robotics stocks in Australia are companies with a strong crossover to other technology sectors like artificial intelligence and virtual reality.

Vection Technologies (ASX:VR1)
Market Cap AU$77.56 million

Vection is a multinational software company with offices in Western Australia as well as Subiaco and Casalecchio di Reno in Italy. The company uses robotics technology as well as 3D, virtual reality, augmented reality, industrial IoT and CAD solutions. The business is split into two sections: IT development and outsourced services. The company also collaborates with Autodesk Technology Centers, the Microsoft Mixed Reality Team and Cisco Systems Italy.

Bill Identity (ASX:BID)

Market Cap AU$52.97 million

Previously known as BidEnergy, Bill Identity is a series of bill management solutions leveraged using robotic process automation, which helps clients increase efficiency. The company serves customers across Australia, New Zealand, the UK, the US and Europe. Bill Identity had a strong year, with total operating revenue growth of 55 percent year-on-year to US$14.6M in FY21.

What are the other ways to invest in robotics?

Another way to get into the robotics sector is investing in robotics exchange traded funds (ETFs), a popular choice that offers exposure to the industry of robotics and artificial intelligence rather than a single company. Two major ETFs in the robotics sector are:

  • BetaShares Global Robotics and Artificial Intelligence ETF (ASX:RBTZ)
  • The ROBO Global Robotics and Automation ETF (ARCA:ROBO)

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.

Person looking at credit card while making a purchase on their phone

A subsection of the booming fintech sector, innovative payment services are experiencing a hay day.

Paytech is just what it sounds like — technology for payments. In Australia, changes to open banking laws plus the need for contactless payments through the global pandemic has meant a major uptake in paytech services.

There are more than 1 million Aussies shopping online each month as different parts of the nation continue to be under COVID-related lockdowns and stay at home orders.


A subsection of the booming fintech sector, innovative payment services are experiencing a hay day. Paytech options are everywhere, with examples like mobile, peer-to-peer, cryptocurrency payments and international payments.

5 Biggest ASX Paytech Stocks

The Investing News Network looked at the biggest paytech stocks on TradingView sorted by Market cap. Data for this list was obtained on September 30, 2021.

1. Afterpay (ASX:APT)

Market cap: AU$35.37 billion

The startup founded in Sydney's eastern suburbs five years ago is now a global brand and employs some 700 people globally serving millions of customers. The brand name has become a verb for buy now pay later — "I'll after pay it." AfterPay was acquired by giant payments provider Square for AU$39 billion in August 2021. Group Total Income for FY21 was 78 percent higher than the previous year at AU$924.7 million, and Afterpay Income increased by 90 percent.

Early investors have reaped the benefits of AfterPay's booming rewards. An investigation by the Australian Financial Review found singer John Farnham and wife Jillian started investing in 2017 when share prices were low and today they hold 36,304 shares at a value of close to AU$3.2 million.

2. Sezzle (ASX:SZL)

Market cap: AU$1.13 billion

Sezzle is the Certified B Corp buy now pay later option that listed on the ASX in 2019. Often dubbed the "mini-Afterpay," the business is based in Minneapolis, US, and has been trying to make "Just Sezzle it" happen since it formed in 2016. The company serves customers mostly in North America, with plans to expand to India.

The company reported an after-tax loss of US$30.4 million for the six months ending June 30, 2021, and it saw an income increase of 159 percent for the same period, alongside an increase of 102 percent in costs.

3. Openpay Group (ASX:OPY)

Market cap: AU$173.92 million

Another Australian buy now pay later offering is Openpay, which offers payment plans of up to 24 months and up to AU$20,000. Openpay started in 2013 for Australia and New Zealand, expanded in 2019 to the UK and reached the US in 2020 under the brand name Opy. This contributed to a growth of 44 percent in income for FY21 of AU$26.3 million.

The company positions itself as a financially responsible business for a mature audience wanting funding for life affirming things like home improvement projects. Unlike Afterpay, Openpay does perform credit checks on all clients through their B2B offering, a SaaS-based platform Openpay for Business.

4. Cirralto (ASX:CRO)

Market cap: AU$167.19 million

Cirralto is a transaction services business that supplies a broad range of B2B payment services and a fully integrated digital payment and business software solution known as Spenda. It aims to help businesses to improve their processes and payment terms to so the businesses can get paid faster.

Cirralto's FY21 has been strong, with 157 percent increase in revenue and a 113 percent boost in customer growth. Other big news included the acquisition of software technology company Greenshoots Technology in September 2021. Greenshoots provides a white-labelled eCommerce platform for small and medium businesses.

5. Novatti Group (ASX:NOV)

Market cap: AU$148.95 million

Novatti is a multi-services payment provider for businesses and business customers with year on year revenue growth of around 50 percent for each of the past four years. Its customer base is roughly half fintech companies and banks and half traditional merchants and businesses. Novatti has licenses to operate in Australia, New Zealand and Canada and is obtaining licenses in Europe and Singapore.

The brand has big plans to expand into new markets after a AU$40 million capital raise in July, of which AU$22 million was spent on a strategic investment of a 19.9 percent stake in bookkeeping software Reckon (ASX:RKN). The company is working through licenses with Mastercard and Visa and will be looking to expand into new markets for FY22.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.