Lake Resources NL  Appoints New Board Member Dr. Cheemin Bo-Linn

Lake Resources NL Appoints New Board Member Dr. Cheemin Bo-Linn

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce the appointment of Dr. Cheemin Bo-Linn to the board of Lake Resources, effective December 5, 2022. This is a key appointment to strengthen and broaden the experience of the Lake Resources board and build the business for the long term.

Dr. Bo-Linn is an accomplished CEO, former Fortune 100 operations executive, and board director with over 25 years of governance expertise at private organizations and public companies across the Americas and Europe. Her board leadership experience at public companies includes her appointment as Lead Independent Director, Chair of every major committee (Audit, Compensation, Nomination/Governance), Chair of Sustainability/ESG, and Chair of the Technology and Cybersecurity committees. Her related current board service includes Flux Power, a leading developer and manufacturer of advanced sustainable lithium-ion energy storage solutions for industrial mobility fleets.

Dr. Bo-Linn has been recognized internationally for her achievements, including by The Financial Times in its 2021 "Top 100" global board director diversity list and the National Association of Corporate Directors in its 2019 "Top 50 Board of Directors" list, recognizing the most influential directors and corporate governance leaders with boardroom excellence in innovation and integrity. In recognition of her contribution to the scientific and technological communities, Dr. Bo-Linn was inducted into the international "Hall of Fame" for Women in Technology and was also named "Top Woman of Influence" by the Silicon Valley Business Journal Until recently, Dr. Bo-Linn was CEO of Peritus Partners, a valuation accelerator which also provided consulting and operations expertise in software (SaaS), IoT, mobile, and digital (analytics, marketing, e-commerce, supply chain, and cybersecurity). Previously, during her 20+ years in senior IBM executive roles, she led global teams as IBM's VP of Indu trial Sector/Electronics, responsible for IBM's software, semiconductor chips, storage, and consulting services.

Lake Executive Chairman Mr. Stuart Crow commented that considering the growing focus on environmental, social and governance considerations in supply chains, which will bring a higher level of scrutiny to issues of sustainability in the lithium mining sector, the appointment of Dr. Bo-Linn is invaluable and timely.

"Dr. Bo-Linn brings highly relevant and extensive experience, particularly in sustainability, governance and the renewables supply chain," said David Dickson, recently appointed CEO and Managing Director of Lake. "Her industry expertise along with her environmental, social and corporate governance (ESG) strategies will position us for growth and the creation of shareholder value, as we transition to a new development stage."

Dr. Bo-Linn has a Doctorate in Education (Ed.D.) in Computer based Information Systems and Organizational Change from the University of Houston and was appointed as Visiting Professor at the joint Columbia University, London School of Business, and Hong Kong University EMBA/MBA program. She also completed the Stanford University Graduate School of Business Executive Certificate Programme.

The appointment of Dr. Bo-Linn follows the appointment of Mr. David Dickson who assumed the role of CEO and Managing Director in September 2022. Mr. Dickson is an industry leader with over 30 years' experience in engineering, construction, and EPC cost management, across the energy sector. He has a proven track record in successfully delivering multi-billion dollar resource projects.

Dr. Bo-Linn will be issued with 232,500 Restricted Stock Units that vest one year after appointment (5 December 2023). Shareholder approval will not be sought for the issue of the Restricted Stock Unit (or their exercise) as Dr. Bo-Linn was not a director of Lake at the time of the negotiations and had no influence over the decision to issue the Restricted Stock Units.




About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.



Source:
Lake Resources NL



Contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com

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Lake Resources NL  Kachi Power Supply

Lake Resources NL Kachi Power Supply

Sydney, Australia (ABN Newswire) - Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce the next milestone for the Kachi lithium brine project ("Kachi" or the "Project") in Catamarca Province, Argentina, having today signed a Letter of Intent ("LOI") with YPF Luz, a leading Argentine sustainable electric power generation company.

Under the LOI, Lake and YPF Luz will engage in exclusive non-binding discussions to evaluate and negotiate agreements relating to:

- The construction of the high voltage line by YPF Luz for power capacity for Kachi

- Delivery of the power supply by YPF Luz for Kachi

To support the power solution and create a binding commercial agreement, YPF Luz will perform the Front-End Engineering Design ("FEED") work for the proposed power delivery system. The FEED will be progressed through the remainder of 2024.

"After running a thorough process for the Kachi power solution, we are very pleased to enter into exclusive negotiations with YPF Luz," David Dickson, CEO of Lake, said.

"Establishing the delivery of a power solution for Kachi is a critical milestone for the development of this Project.

"We look forward to working together with YPF Luz, which has demonstrated expertise in bringing power to remote areas of Argentina and shares our commitment to sustainability.

"Both federal and state governments in Argentina are keen to see the responsible development of lithium exports to help with Argentina's balance of payments and foreign reserves, and getting power into the resource-rich provinces is a key part of this," Mr. Dickson said.

YPF Luz is co-owned by YPF, Argentina's largest energy company, and General Electric ("GE"), a global diversified industrial company. With a focus on renewable energy and social and environmental sustainability, YPF Luz is now the third largest generator of power in Argentina.

The signing of the LOI continues Lake's momentum following:

- The successful Equity Placement and Share Purchase Plan which strengthened Lake's balance sheet by providing additional working capital and financial flexibility to complete the strategic partner process ("the Process")

- The outreach to a wide array of potential strategic partners including car and battery manufacturers, lithium producers, oil and gas companies, sovereign wealth funds and private equity. The Process is expected to conclude in the second half of the year (2H CY24).

- Submission of the Production Environmental Impact Assessment ("EIA") for Kachi Phase One to the Catamarca Mining Authority. This is an important milestone for Kachi, and the culmination of extensive field work and community engagement completed over the past three years.

"We are also pleased with the strong institutional support we received during the recent capital raising, demonstrating their appreciation for our track record of delivering on our milestones, as well as their recognition of Kachi as a world class resource and globally significant project," Mr. Dickson said.

To view the latest Investor Presentation, please visit:
https://www.abnnewswire.net/lnk/DSYO1GSD



About Lake Resources NL:  

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Launches Investor Hub

Lake Resources NL Launches Investor Hub

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) today announces the formal launch of Investor Hub, which is a dedicated platform for investors to learn more about the Company and our latest activities.

Investor can access Investor Hub and sign up to receive ASX updates and news regularly.

The Company encourages investors to post questions and feedback through the Q&A function accompanying each piece of content and the Company will endeavour to respond, where appropriate.

How to join the Company's Investor Hub:

1. Head to https://investorhub.lakeresources.com.au/auth/signup

2. Follow the prompts to sign up for an Investor Hub account.

3. Complete your account profile.

From time to time, investors with complete accounts on the Investor Hub may be invited to exclusive company events. We appreciate shareholder's support and we look forward to updating investors on our progress in 2024 via the Investor Hub.



About Lake Resources NL:  

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Quarterly Activities Report

Lake Resources NL Quarterly Activities Report

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) provide the Quarterly Activities Report.

- Results from the last drillhole associated with the 2023 drilling program at Kachi showed brines returning grades of 230 - 302 mg/L lithium over 407 metres (215 - 622 m) with an average of 257 mg/L :

o These findings confirm the presence of higher-grade lithium brine south of the central resource area to a depth of more than 600 metres.

o The results further support the positive hydrogeological modelling results that were the basis for the Kachi Ore Reserve4 and Phase One Definitive Feasibility Study ("DFS") submitted in December 2023.

- Completed submission of the Production EIA to Catamarca Mining Authority.

o Marks an important milestone for Kachi and represents the culmination of extensive field work and community engagement completed over the past three years.

o The development plan for Kachi is designed to minimize the consumption of fresh water and maintains the hydrogeologic system as close to baseline conditions as possible.

o The Project will provide significant economic and social benefits to Catamarca Province.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/3C7BSZ84



About Lake Resources NL:  

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Submission Of Production Environmental Impact Assessment

Lake Resources NL Submission Of Production Environmental Impact Assessment

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to report the submission of the Production Environmental Impact Assessment (the "Production EIA" or "EIA") for its flagship Kachi Project ("Kachi" or "the Project") to the Catamarca Ministry of Mining in Catamarca Province, Argentina. Lake's innovative and sustainable Project development plan will result in a small water footprint, amongst the lowest for lithium brine projects per tonne.

The Production EIA, which was submitted in accordance with Lake's operational timeline, is a statutory requirement under the Argentina mining and environmental regimes and is intended to demonstrate that due attention has been given to the potential impact of the mining operations on the environment and local community.

The EIA was prepared by Knight Piesold A.C.S.A., a global engineering consulting firm, in accordance with the General Environmental Law No. 25,675, the National Law No. 24,585 on Environmental Protection for Mining Activity in Argentina, (Annex III), the Mining Code of the Nation (Title 13, Section 2), the SAA Provision No. 74/2010 and the M.M. Resolution No. 1014/2023.

The EIA is based on the production scenario presented in the Definitive Feasibility Study in which lithium brine is extracted via production wells, pumped to the Direct Lithium Extraction ("DLE") plant for lithium recovery and then injected back into the subsurface via injection wells. The Lilac ion exchange process requires a fraction of the water required for evaporation ponds and absorption DLE technology.

Lake has also incorporated a Zero Liquid Discharge unit that further reduces freshwater consumption by about 75%. The injection of spent brine allows Lake to design a system that maximizes lithium recovery while maintaining the hydrological/hydrogeological system as close to baseline conditions as possible during operations. Other significant environmental benefits of Kachi include a smaller land footprint and lower solid waste output compared to traditional evaporation ponds and hard rock projects.

Lake's CEO, David Dickson said: "The timely submission of the EIA underscores Lake's firm commitment to conducting operations in a manner that prioritizes care for the environment and fosters collaboration with our neighboring communities. Kachi stands as a testament to our adoption of a prudent and groundbreaking approach to lithium brine extraction, aiming for the advancement of sustainable and responsible lithium production. We look forward to bringing future employment and economic growth to Catamarca Province, while contributing to the global energy transition."



About Lake Resources NL:  

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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Lake Resources NL  Up to A$20 Million Equity Raising

Lake Resources NL Up to A$20 Million Equity Raising

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce that it has received firm commitments for an approximately A$15 million institutional placement ("Placement") through the issue of approximately 213.6 million new fully ordinary shares ("New Shares") at an offer price of A$0.07 per New Share ("Offer Price").

Highlights

- Strong support received from offshore and domestic institutional and sophisticated investors leading to introduction of new high-quality investors to Lake's register

- In addition to the Placement, Lake will offer all eligible shareholders the opportunity to participate in a SPP to raise up to approximately A$5 million at the same price as the Placement

- Funds will be used for working capital to extend runway, in addition to the recently announced cost saving measures, until the completion of the strategic partnership process

- Upon settlement of the Placement, Lake will have a strong pro-forma 31 December 2023 cash balance of A$46.3 million to advance the strategic partnership process for Kachi

In addition to the Placement, Lake will also be undertaking a Share Purchase Plan ("SPP") at the same price as the Placement, to raise up to A$5 million. The Placement and SPP (together the "Offer") will raise total gross proceeds of up to approximately A$20 million.

The Offer enhances Lake's balance sheet by providing additional working capital and financial flexibility during the strategic partnership selection process for Kachi. Lake is actively conducting outreach to a wide array of potential strategic partners including car and battery manufacturers, lithium producers, oil and gas companies, sovereign wealth funds and private equity. The strategic partnership process is scheduled to conclude in the second half of the year (2H CY24).

Commenting on the Offer, Lake's CEO, David Dickson said: "We are pleased with the level of support shown for Lake from both existing and new shareholders. The equity raising will provide funding capacity to support the delivery of the strategic partnership process. We are pleased to offer our existing retail shareholders the ability to participate in the capital raising via the SPP."

Placement

Under the Placement, the Company will issue approx. 213.6 million fully paid ordinary shares in the Company, representing approximately 15% of issued capital, at A$0.07 per New Share, raising a total of A$15 million (before costs), to institutional, sophisticated and professional investors.

The issue price of A$0.07 per share, represents a 39.1% discount to the last closing price of A$0.115 on 8 March 2024 and a 42.3% discount to the 5-day VWAP of A$0.121 as at the same date.

The New Shares will be issued under the Company's existing placement capacity under ASX Listing Rules 7.1. The Placement is not underwritten.

Barrenjoey Markets Pty Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers and Bookrunners to the Placement. Morgans Corporate Limited is acting as Co-Manager to the Placement.

Share Purchase Plan

In addition to the Placement, the Company will offer all eligible existing shareholders with a registered address in Australia or New Zealand who were holders of Lake shares at 7:00pm (AEDT) on Monday, 11 March 2024 ("Record Date") ("Eligible Shareholders"), the opportunity to apply for new Lake shares, at the same issue price and same terms and conditions as the Placement. The issue price will be $0.07 per share.

Lake intends to raise up to A$5 million and retains discretion over the allocation of shares per investor. The SPP will allow Eligible Shareholders to apply for the maximum allowed of A$30,000 of new fully paid ordinary shares, per shareholder, recognising the ongoing value and support of Lake's shareholders.

The SPP is not underwritten. An SPP booklet containing further terms and conditions of the SPP is expected to be provided to Eligible Shareholders on the 18 th of March.

Lake intends to apply for a waiver under ASX Listing Rule 7.1 as a consequence of the issue price of shares under the SPP being less than 80% of the 5-day VWAP prior to the date of this announcement. If the ASX does not grant this waiver, the SPP will not be exempt from the Company's placement capacity calculation, and therefore the SPP may require shareholder approval at an EGM. If so, the indicative timetable below will be affected accordingly.

To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/QQ3Q2A63

To view the Investor Presentation, please visit:
https://www.abnnewswire.net/lnk/2YU47J1E



About Lake Resources NL:  

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

News Provided by ABN Newswire via QuoteMedia

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(TheNewswire)

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(TheNewswire)

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