Lake Resources’ General Meeting under COVID-19 conditions

Lithium explorer and developer Lake Resources NL (ASX:LKE; OTC:LLKKF or the ’Company’) refers to the Notice of Meeting released to the Market on 14 April 2020 and provides an update regarding the Company’s upcoming Extraordinary General Meeting to be conducted on Thursday 14 May 2020 at 11:00am (AEST) at Automic Group, Level 5, 126 Phillip Street, Sydney NSW 2000. Shareholders are not permitted to physically attend the meeting due to the Government restrictions on physical meetings and health risks associated with COVID-19 and social distancing measures still currently in place.

Shareholders are able to attend the meeting via virtual means by joining the live weblink. Shareholders who wish to attend the Meeting via weblink must register their attendance with the Company by 11am (AEST) on Wednesday 13 May 2020, the day prior to the Meeting, by emailing the Company Secretary at cosec@lakeresources.com.au and including your Holder Name, Address and HIN or SRN. The Company will then provide you with the necessary details to participate in the Meeting via the weblink.

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Lake Resources Quarterly Report Ending 31 March 2020

HIGHLIGHTS

  • Compelling and robust Pre-Feasibility Study (PFS) results for Kachi Lithium Brine Project in Argentina, show project capable of producing sustainable highpurity lithium carbonate to attract premium pricing.
  • Long life, low cost operation with 25,500tpa LCE using Lilac Solutions' innovative sustainable direct extraction method at competitive operating and capital costs.
  • Post-tax NPV8 of US$748 million (A$1,180m) and IRR of 22% with high margin EBITDA of US$155 million (A$245m) in first full year of production
  • High purity battery grade lithium carbonate samples (99.9%) demonstrated from Kachi Project brines with more samples for off-takers in coming months.
  • 20,000 litres of brines from Kachi to Lilac's pilot plant module in California, with additional 20,000 litres in transit to meet demand from potential off-takers.
  • Technology partner, Lilac Solutions, announced US$20m backing from Breakthrough Fund and MIT's The Engine fund.
  • Discussions continue for debt funding of US$10m to US$25 million for DFS, permitting and lithium preproduction for the Kachi Project.
  • Capital raising completed with a A$3.4m private placement and a Share Purchase Plan. The A$1.96m convertible securities facility was paid out.
  • Limited impact from restrictions imposed due to COVID-19; operations continuing with increased personal protection and heightened security based on government guidelines.

Lake Resources NL (ASX:LKE) is an exploration and development company, developing its flagship 4.4mt LCE resource Kachi Lithium Brine Project in Argentina, to produce sustainable high purity lithium carbonate using an efficient, disruptive and low cost direct extraction technology from our partner, Lilac Solutions, in California. The pilot plant module is operating in California to produce sample for potential offtake partners using brines from the Kachi Project, and after completion, a full pilot plant will be constructed and transported for operation later in the year on site at Lake's Kachi Lithium Brine Project

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Compelling Pre-feasibility Study for Lake’s Kachi Project

Update: Click here for the webinar recording

Compelling Pre-Feasibility Study (PFS) results for Lake’s Kachi Lithium Brine to produce sustainable, high purity, low impurity lithium carbonate to attract premium pricing to meet growing demand from battery makers.

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Lake Resources – PFS Investor Briefings and Webinars

Lithium explorer and developer Lake Resources NL (ASX:LKE, OTC:LLKKF) is pleased to provide investors with an opportunity to participate in an investor briefing via webinar to discuss the Company’s Pre-Feasibility Study results concerning its flagship Kachi Lithium Brine Project, using its U.S. technology partner Lilac Solutions’ direct extraction ion exchange method. (The schedule is dependent on final approvals and signoff).

Lake’s Managing Director, Steve Promnitz, will conduct live webinars at the following times: Thursday 30 April 2020 at 11am (Sydney time) and Friday 1 May at 11am (New York time).

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Lake Resources Talks to Acquisdata on COVID-19 Impact and Future Plans

Lake Resources (ASX:LKE, OTC:LLKF) Managing Director, Steve Promnitz, told Acquisdata about lithium’s outlook and how the company has been impacted by COVID-19. Promnitz shared, “This COVID-19 impact has actually magnified the current situation about the lack of new supply coming online,” and explained that the lack of investment will have an effect on the supply of battery-grade, high purity lithium. However, he emphasized that the health and well-being of his team and communities comes first as they adhere to both Argentina’s and Australia’s guidelines, “to ensure we are doing the right thing and we’re not losing six to 9 months.” The Lake Resources Managing Director is optimistic about the future and said, “On top of that, the project we have in Argentina will actually, probably support the economic recovery in Argentina because we’re focused on export — that’s what Argentina wants to see, more exports — at the same time contributing to a sustainable future.”

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