Lake Resources N.L. (ASX:LKE) announces the Quarterly Activities Report ending 31 December 2019.
- Pre-Feasibility Study (PFS) is near completion for the Kachi Lithium Brine Project in Argentina, a major lithium project in the Lithium Triangle.
- Large volume high purity lithium carbonate with very low impurities to be produced from Lake’s Kachi Lithium Brine Project for off-takers in Asia. Delivery to commence from March 2020.
- 20,000 litres of brines currently underway to arrive at pilot plant in California soon after the end of January 2020.
- Pre-production targeted in early 2020 from pilot plant using Lilac Solutions’ direct extraction ion exchange methodology expected to produce at the lower part of industry cost curve.
- London based, SD Capital Advisory Limited appointed to secure debt funding of up to US$25 million for DFS, permitting and lithium pre-production from its Kachi Lithium Brine Project in Argentina.
- Capital raising underway for purpose of increasing shareholder value with intent to repay convertible notes; update due by 10 February.