Lake Resources (ASX:LKE) invites shareholders to its 2019 Annual General Meeting.
As quoted in the notice of annual general meeting form:
Notice is hereby given that an Annual General Meeting of Shareholders of Lake Resources N.L. ACN 079 471 980 will be held at 11:00am AEDT on 26 November 2019 at Automic Group, Level 5, 126 Phillip Street, Sydney NSW 2000 (Meeting).
The Explanatory Statement to this Notice of Meeting provides additional information on matters to be considered at the Annual General Meeting. The Explanatory Statement and the Proxy Form forms part of this Notice of Meeting.
The Directors have determined pursuant to Regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Annual General Meeting are those who are registered Shareholders at 11:00am AEDT on 24 November 2019
Lake Resources (ASX:LKE) also released its 2019 Annual Report, which highlights Lake’s transition towards pre-production and development of multiple high-grade lithium projects in the heart of the Lithium Triangle.
As quoted in the annual report:
The market price for lithium products declined in early 2019 as new entrants provided new supply with a range of qualities, mainly from hard rock sources in Australia. This has impacted the sentiment towards the upstream supply of lithium, and yet demand continues to increase for lithium batteries and electric vehicles, best shown by the continued rising investment in lithium battery megafactories. Despite short term weakness in lithium product pricing, downstream participants remain keen to secure long-term, scalable upstream supply with low impurities, in the lower part of the cost curve. This continues to provide support for Lake’s projects now and in the future.
The Kachi project continues to appeal to downstream lithium battery and cathode producers, due to its size and the progress on the pilot plant, which will produce samples for qualification work in the coming year. The Cauchari project appeals because it is close to a major new near-term producer (in 2020) within 500 metres of Lake’s leases in the same basin. The completion of a recent major acquisition by one of the world’s largest producers in the adjoining project has strengthened the potential future and optionality for Lake’s Cauchari project.
Your company’s aim is to be one of a handful of lithium development companies with the right projects in the right location, using new and efficient processing methods which can sustainably produce a range of lithium products to suit the downstream user.
The successful laboratory testing of the ion exchange direct processing method has reinforced the merits of building a pilot plant, supported by a Pre-Feasibility Study (PFS). I thank my fellow director, Dr Nick Lindsay, for his detailed efforts in ensuring a quality PFS and consistent progress on the pilot plant, together with Lilac Solutions and the engineering firm, Hatch. I also want to thank the experienced team in Argentina for delivering a successful result at Cauchari and persisting with approvals and support for Kachi and Olaroz, which are critical to ensure success.