Following an increased focus by electric vehicle makers on supply chain sustainability, Lake Resources NL (ASX:LKE,FWB:LK1,OTCQB:LLKKF) is advancing debt funding options for its flagship Kachi lithium project, and Managing Director Stephen Promnitz says the company is charging ahead to address the surge in battery market demand.

Lake Resources Managing Director: Definitive Feasibility Study for Kachi Lithium Project is Underway youtu.be


Together with Lilac Solutions, Lake Resources is currently operating its pilot demonstration plant, which uses clean technology to reduce lithium processing costs and timelines significantly.

"In 2020, we were targeting a 25,000 tonne per annum project. Earlier this year, we focused on where the project was going and how fast can we double that. We're charging ahead with debt financing for the first 25,000 tonnes per annual production, and we can actually deliver that in a timely manner," said Promnitz.

Lake Resources recently expanded drilling and testing beyond what is required for the definitive feasibility study (DFS) for its Kachi lithium project. The aim is to accelerate the conversion of inferred resources to measured and indicated resources, to allow for an expansion beyond the 25,500 tonnes per annum of lithium carbonate planned in the DFS. The current drilling seeks to convert resources to reserves as part of the DFS work.

"We produce a product in the space of hours, not months or years. And we do that consistently with high quality, which the battery makers want. This is what the demand is asking for. We're providing a solution, a 21st century solution, for this demand," Promnitz added.

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

This interview is sponsored by Lake Resources NL (ASX:LKE,FWB:LK1,OTCQB:LLKKF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Lake Resources in order to help investors learn more about the company. Lake Resources is a client of INN. The company's campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Lake Resources and seek advice from a qualified investment advisor.

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Sydney, Australia (ABN Newswire) – Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is a lithium developer utilising clean, direct extraction technology for the development of high purity lithium products with significant ESG benefits from its flagship Kachi Project (4.4mt LCE resource), and three other lithium brine projects in Argentina. No mining is involved in the brine processing.

Lake owns over 220,000 hectares (0.5 million acres) of leases in a prime location within the Lithium Triangle, alongside all 5 major lithium producers.

A key difference in Lake’s development plan to lithium production is to use an efficient direct lithium extraction method (DLE) from our technology partner, Lilac Solutions Inc. This enables Lake Resources to be a cost competitive supplier of high-purity lithium carbonate with a low carbon (CO2) footprint, low water use and low land use – strong Environmental, Social, Governance (ESG) benefits.

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Noosa Mining Conference is on from Wednesday to Friday 14-16 July 2021 both in person at Noosa Peppers and online. Please register now at www.noosaminingconference.com.au.

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