Lake Resources NL  Goldman Sachs Engaged as Financial Adviser for Kachi

Lake Resources NL Goldman Sachs Engaged as Financial Adviser for Kachi

Sydney, Australia (ABN Newswire) - Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announced today that the operating entity of Lake's flagship Kachi lithium brine project ("Kachi") has retained Goldman Sachs as financial adviser in connection with exploring a potential strategic partnership for Kachi.

Lake currently owns 80% of Kachi, and ion exchange DLE technology provider, Lilac Solutions owns a 20% stake. Kachi plans to consider a range of funding alternatives, including, but not limited to, the introduction of a strategic partner, project finance, pre-payments from potential customers, and royalties. In particular, the strategic partner process will enable Kachi to widen the aperture of funding opportunities beyond the current Conditional Framework Agreements.
This approach will allow Kachi to better optimize the economics of its offtake, in accordance with what has been seen in the market over the past year.

"As our Phase 1 Definitive Feasibility Study (DFS) for Kachi is targeted for completion next month, we are shifting our focus to the strategic delivery of this project", said Lake CEO David Dickson. "With delivery of Phase 1 of our proposed approach to project execution and the construction and delivery of a plant with a total capacity of 25,000 tpa of battery grade lithium carbonate in 2027, Kachi has the potential to be an important contributor to the world's lithium supply, bringing significant environmental benefits compared with other projects that employ hard rock and evaporation ponds."

The process for identifying a strategic partner will begin after the completion of the Phase 1 DFS for Kachi, which is still expected in December 2023. Kachi will look to select a strategic partner that can provide equity capital, as well as assist in mobilizing third-party project financing to fund the development capital expenditures for Kachi.



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



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

Global:
Karen Greene
SVP, Investor Relations
karen.greene@lakeresources.com.au

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Lake Resources NL  Presenting at the Bell Potter Unearthed Natural Resources Conference

Lake Resources NL Presenting at the Bell Potter Unearthed Natural Resources Conference

Sydney, Australia (ABN Newswire) - Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), the responsible lithium developer, announces that management will present at the Bell Potter Unearthed Natural Resources Conference, a virtual event which began on 12 February and will continue through 15 February, from 9:00 a.m. to 6 p.m. AEDT.

Lake CEO, David Dickson will present to investors on 14 February at 9:50 a.m. AEDT.

Dickson will discuss challenges and opportunities within the lithium sector as well as provide an update on the strategic delivery of Lake's Flagship Kachi project located in the heart of Argentina's Lithium Triangle.

The presentation will be available on the Lake Resources website.

Lake also wishes to congratulate its technology and Kachi project partner, Lilac Solutions, for its successful Series C capital raise to support the continued scaling up of proven technology.

Lilac raised US$145m with support from Mercuria, Lowercarbon Capital, Breakthrough Energy Ventures, Engine Ventures, T. Rowe Price, Sumitomo, Emerson Collective, Mitsubishi and The Nature Conservatory.

For more information or to register to attend the virtual conference, visit:
https://www.abnnewswire.net/lnk/160Q17E0

To view the Presentation, please visit:
https://www.abnnewswire.net/lnk/F7HDJ8UZ



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  JORC Update

Lake Resources NL JORC Update

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) reports that drilling completed at the Kachi Lithium Brine Project ("Kachi" or the "Project") in Catamarca Province, Argentina continues to intercept lithium bearing brine in sand units favourable to extraction over thick intervals in the southern portion of central resource area.

The K25D44 drillhole (Figure 1* and Figure 2*) was not completed in time to be incorporated into the Project's Definitive Feasibility Study (DFS) for Phase One, released in December 2023. However, the results from the drillhole confirm the presence of higher-grade lithium brine south of the central resource area to a depth of more than 600 m. The results further support the positive hydrogeological modelling results that were the basis for the Project Ore Reserve and Definitive Feasibility Study (DFS) submitted in December 2023. The DFS highlights include:

- Total resource is estimated at 10.6 Mt LCE, a globally significant resource.

- 25-year life of mine (LoM) supported by maiden Ore Reserve statement.

- Phase One targets a production of 25,000 tonnes per annum (tpa) over the LoM to meet the growing demand and specifications of the battery market.

- The 25,000 tpa operation recovers only a small fraction of the Measured and Indicated Resource, which allows Lake to study further expansions.

- DLE process tailored to mitigate impact on the local community with minimal disruption to land, freshwater table, and water usage.

- The Project targets production of consistent battery grade lithium carbonate (>99.5% purity) at site without the need for further refining or processing.

- Kachi is targeting first lithium in 2027 with ramp-up to full capacity by the end of 2028, which is forecast to coincide with the start of a prolonged period of structural deficit for battery grade lithium chemicals.

Drillhole results prove the continuity of higher-grade lithium brines, south of the Phase One DFS extraction wellfield design and across a northwest-southeast trending fault that is interpreted to create the escarpment south of the field. The relatively high lithium and favourable geologic materials grades beyond the planned DFS wellfield highlight continued favourable results for a higher capacity wellfield.

"The latest drilling intercept further demonstrates the vertical continuity of the lithium bearing brine to more than 600 metres in clean, fine and medium grained sands conducive to high productive extraction wells." commented Michael Gabora, Director of Geology and Hydrogeology of Lake Resources. He continued, "With an average of 257 mg/L through the production zones, the K25D44 hole continues the trend of intercepting lithium grades that are significantly higher than the 205 mg/L design basis of the DFS".

Continuation of Higher-Grade Lithium Resource Intercepts to the South

The principal objectives of the K25D44 (K25 Platform) drillhole were to:

1) Test the continuity of the lithium resource to the south, outside of the footprint of the salar;

2) Expand the Measured Resource to the south and potentially connect the Measured Resource to previous positive lithium intercepts at K21 (Figure 1*);

3) Complete additional sampling and analysis of the deeper portion of the unconsolidated deposits from about 400 m to more than 600 m depth; and,

4) Validate lithium concentrations used in the area of K25 in the Ore Reserve analysis completed with the calibrated hydrogeologic model.

K25D44 was drilled about 2.25 kilometres southwest of K16D28 (K16 Platform; Figure 1*) and has an average lithium grade of 219 mg/L from 19 samples collected between 40 and 622 m below ground surface (bgs) (Table 1*). All but two samples were collected with single packer configurations generally with a test interval of about 10 to 15 m, although this varied depending on hole conditions. Standard operating procedures are followed with significant development of the test interval, at least 3 borehole volumes (measured from surface to hole bottom), and sampling only occurs once brine is clear and field chemistry parameters are stable and indicative of reservoir fluids.

A standpipe piezometer was installed and screened between 418 to 430 m below ground surface and was developed and sampled via airlifting. Results for the airlift sample are consistent with the packer testing within the same interval, with 275 mg/L measured by SGS and 248 mg/L measured by Alex Stewart laboratory, for an average of 261 mg/L compared to 263.5 mg/L for a packer collected sample from 424 to 430 m below ground surface (see Table 1*).

The fine to medium-grained sand (Figure 3* and Figure 4*) and low frequency of fine-grained layers within the planned production horizons (i.e., approximately 200 m to 600 m) are consistent with drillholes in the central resource area and both stratigraphy and general chemistry support the continuity of the lithium brine resource throughout the southern portion of the field.

As has been observed in the other greater than 600 m deep drillholes completed to-date, the lithium brine continues to a depth of more than 600 m. Lithium concentrations deeper than 400 m averaged more than 250 mg/L, far exceeding the design basis for the DFS (205 mg/L).

The modelled lithium concentration in the Project Ore Reserve8 at K25 was 268 mg/L (200 m to 600 m) within the production horizon. The weighted average of the laboratory results through the same interval (215 m to 622 m) is 271.7 mg/L. This indicates that the modelled values are representative, if not slightly conservative, relative to the measured data in the field at this location. The results of the comparison further build confidence in the lithium resource model used as the basis for lithium distributions within the hydrogeological model and Ore Reserve modelling.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/UOL27931



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) is a responsible developer of sustainable, high-purity lithium. Lake uses ion exchange extraction technology, from Lilac Solutions Inc in California ("Lilac"), who has earned a 20% interest into the Kachi Project. No mining is involved in the brine processing.

Lake continued to make significant progress at Kachi, culminating in the completion of the DFS. The DFS demonstrates that Kachi is a tier one project, backed by a significant resource and strong economics, positioning it competitively within the growing lithium market.

Lake continues to reduce our quarterly cash spend. With the completion of the DFS, the Company expects expenditures for the quarter ending 31 March 2024 to be approximately 40% lower than the quarter ending 31 December 2023.

With the completion of the DFS, Lake has shifted its focus to the strategic delivery of Kachi:

- As announced on 29 November 2023, Lake has engaged Goldman Sachs as its financial adviser to explore a strategic partnership for the Kachi project.

- Lake and Lilac Solutions are considering a range of funding alternatives including, but not limited to, the introduction of a strategic partner, project finance, pre-payments from potential customers and royalties.

Discussions remain ongoing and will provide additional capital to fund activities prior to Final Investment Decision and ultimately project development.

- Complementing this process, Lake recently announced the continued support of Citibank and J.P. Morgan, joint coordinators for the proposed debt financing for Kachi. The banks have signed an amendment and extension to the engagement agreement, based on the revised timelines of Kachi.

*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/D9M697GN



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  Amendment and Extension of Agreement with Citi and JP Morgan

Lake Resources NL Amendment and Extension of Agreement with Citi and JP Morgan

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce that it has amended and extended its engagement agreement with Citibank N.A. ("Citi") and J.P. Morgan, to serve as Joint Coordinators ("JCs") for proposed debt financing for the globally significant Kachi lithium brine project in Argentina. The original engagement agreement was signed in June 2022 (refer to ASX release dated 17 June 2022).

The amendment and extension to the bank engagement addresses the new development timeline for the Kachi Project. As disclosed in the Kachi Project Phase One Definitive Feasibility Study ("DFS"), the new project timeline indicates that Financial Investment Decision ("FID") is targeted for the first quarter of 2025, with first lithium production expected in late 2027 (refer to ASX release dated 19 December 2023).

Importantly, we continue to engage with and receive support from export credit agencies to provide backing to Kachi's overall debt structure (refer to ASX releases dated 11 August 2021 and 28 September 2021).

Lake's debt advisors, GKB Ventures Ltd and SD Capital Advisory Ltd, will also be exploring how the banks' debt package can be further enhanced to benefit from the recent Organization for Economic Cooperation and Development ("OECD") changes in support of critical mineral projects. OECD's beneficial changes include a longer debt amortization term, enabling greater flexibility in the debt repayment schedule, which should prove beneficial in times of lithium price volatility.

"We are pleased to have the continued support of Citi and J.P. Morgan", said David Dickson, CEO of Lake Resources. "We value the involvement and backing of these leading institutions as we continue to work with Goldman Sachs on Kachi funding options, including but not limited to strategic partnerships, pre-payments from potential customers, and royalties on this important project."



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  Releases January 2024 Investor Webinar

Lake Resources NL Releases January 2024 Investor Webinar

Sydney, Australia (ABN Newswire) - Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) released a new investor webinar, featuring the Company's CEO David Dickson and special guest David Snydacker, Founder and CEO of Lilac Solutions ("Lilac"), Lake's technology partner in its flagship Kachi Project ("Kachi" or "the Project") based in Argentina. Don Miller, Lake's recently appointed CFO, also joined the webinar, providing a brief introduction to investors.

During the webinar, Mr. Snydacker shared his insights on Direct Lithium Extraction ("DLE"), with a focus on Lilac's ion exchange DLE technology and its application at Kachi. He also addressed commonly asked questions about Lilac's technology.

"It is extremely helpful to hear David speak about DLE and explain how the Lilac technology works," said Mr. Dickson. "Lake and Lilac have taken an innovative approach to lithium brine extraction to advance sustainable and responsible lithium production, through the application of Lilac's ion exchange DLE technology and a jointly-developed, field-tested process design for targeted production of high purity lithium carbonate."

Mr. Dickson added, "Kachi is targeting production of first lithium in 2027, with rampup to full capacity by the end of 2028, which is forecast to coincide with the start of a prolonged period of structural deficit for battery grade lithium chemicals."

A replay of the webinar will also be available on the Lake Resources website.

To listen to the Webinar, please visit:
https://www.abnnewswire.net/lnk/595249O2



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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Key highlights

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Klimat X Announces Joint Venture Agreement Terms with Imperative Global Projects for Yucatan Mangrove Project

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Klimat X Developments Inc. ("Klimat X" or the "Company") (TSXV: KLX) (FSE: Q1C) is a leading provider of high-quality technology-enabled carbon credits sourced exclusively from conservation and reforestation carbon projects developed and owned by the Company and its stakeholders, is pleased to announce it has signed a binding Heads of Agreement with Imperative Global Projects Pte Ltd ( Imperative ) to jointly develop the large-scale mangrove restoration project in the State of Yucatan, Mexico secured and previously announced by Klimat X.

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Blockmate Investor Briefing Replay

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The briefing included presentations from CEO Justin Rosenberg and Chairman Domenic Carosa, outlining plans for Hivello after it successfully closed a USD $2.5 million fundraising round.

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RecycLiCo Battery Materials Announces Zarko Meseldzija resigns from the Board of Directors

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Blockmate Ventures Investor Briefing

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The funding was secured as a Simple Agreement for Future Equity (SAFE) instrument fundraising round. Once converted, the post-money implied valuation of Blockmate's 67% stake is USD $6.7 million (CAD $8.9 million) or 8.1 cents per Blockmate share 1 .

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Blockmate Investee Hivello Successfully Raises USD $2.5M

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Due to the overwhelming interest, of the additional USD $1.5 million, USD $1 million was raised at a pre-money valuation of $9 million - an 80% premium to the round which just closed in December 2023. The additional $1.5 million brings the total raised to $2.5 million. The funding was secured as a Simple Agreement for Future Equity (SAFE) instrument fundraising round. Consequently once converted, the post-money implied valuation of Blockmate's 67% stake is USD $6.7 million (CAD $8.9 million) or 8.1 cents per Blockmate share 1 .

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