Technology News

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) advises that work proceeds with Lilac Solutions, Inc. (Lilac) on site at the Kachi Project in Argentina, with commissioning now underway on the demonstration plant.

Whilst on 14 September 2022 Lake issued a Notice of Dispute under its agreement with Lilac, in respect of certain performance timelines (Dispute), Lake wishes to advise that ongoing work is being done by Lilac at the Kachi Project and all parties are confident on-site operations will be successful.

Lake confirms that construction of the facility to house the Lilac demonstration plant is now complete.

Dry commissioning of the demonstration plant commenced on Wednesday September 14.

Lilac has advised Lake that, subject to completion of dry commissioning, it expects to begin wet commissioning of the plant on September 22; once wet commissioning is complete, Lilac expects to begin onsite processing of Kachi brines in the first week of October.

Whilst the test program is based on operating the demonstration plant for 1000 hours it is anticipated that the first 2000 litres of lithium concentrate produced from the demonstration plant will be sent for conversion into Lithium Carbonate once delivered. Lake proposes that this final Lithium product will then be qualified by a tier 1 battery maker to validate product specifications.

Lake will continue to update the market on the Kachi Project, the Dispute, and, as the demonstration test work continues, on the progress, the timelines, milestones and outcomes.

Lake confirms offtake discussions continue to advance and new appointments to the Lake board are in final stages of consideration.



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:
For media queries, please contact:
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Lake Resources NL  Nicholas Lindsay moves to Non-Executive Director Role

Lake Resources NL Nicholas Lindsay moves to Non-Executive Director Role

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) advises that Dr Nicholas Lindsay's role as Technical Director concluded on 30 September 2022 following a period of 21 months overseeing the Company's DFS for the Kachi Project and other related work streams.

The Company would like to thank Dr Lindsay for his commitment and efforts over that period working with our technical team across all facets of the definitive feasibility study. Dr Lindsay will remain on the Lake Board as a Non-Executive Director.



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.

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL  Update on Kachi Pilot Plant

Lake Resources NL Update on Kachi Pilot Plant

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) wishes to update the market in respect of progress under its Pilot Project Agreement dated on or about 21 September 2021 (Agreement) with Lilac Solutions Inc., (Lilac).

Lilac will earn in to the Kachi Project, up to a 25% stake, based on achievement of certain milestones under the Agreement by an agreed date.

These milestones include Lilac:

- completing at least 1,000 hours of operations (including uptime, maintenance, monitoring, and other work that constitutes operations as determined by Lilac in its reasonable discretion) of the Lilac Pilot Unit onsite at Kachi provided; and

- producing a Lithium carbonate feed totaling at least 2,500 kg of lithium carbonate equivalents from onsite operations.

Whilst work has been continuing at Kachi, a dispute has arisen between Lake and Lilac as to the date by which these milestones need to be achieved, with Lake considering the milestones must be achieved by 30 September 2022 and Lilac considering it has until 30 November 2022 to do so.

To resolve the dispute, Lake has exercised its rights to have the dispute resolved either by agreement of both Lake and Lilac or by arbitration.

If the milestones are not achieved by the required date, then Lake has certain buy back rights under the Agreement which it may exercise at its option.

Work continues on progressing the DFS and Lake will update the market in due course on both progress on resolution of the current dispute and the ongoing DFS.



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.

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL  CEO and Managing Director Appointment

Lake Resources NL CEO and Managing Director Appointment

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce the appointment of Mr David Dickson to the role of CEO and Managing Director.

Mr Dickson is an industry leader with over 30 years' experience in process technology, engineering, construction, and EPC cost management, across the energy sector.

He has a proven track record in successfully delivering multibillion dollar resource projects.

With globally significant lithium sites, Lake's aspirational target is to reach capacity of 100,000 tpa LCE.

Mr Dickson's expertise will support Lake's rapid growth and its mission to become a leader in the supply of responsibly sourced, environmentally friendly, and cost competitive high-purity lithium.

It ensures North and South American operations will be fast tracked to advance key project and marketing milestones.

"This is a major achievement to have secured a CEO like David as Lake goes from project development to construction to become a major lithium producer.

"David combines proven leadership experience and engineering expertise with a deep strategic understanding of off-taker and investor perspectives on energy supply chains," Lake Executive Chairman Mr Stuart Crow said.

"David knows all the major oilfield services and EPCM contractors who are looking to expand into the renewable economy - at a time when major projects are struggling to source this capability and support.

"Including those companies skilled in environmentally friendly drilling and reinjection - a key to Lake expanding at scale."

He said Mr Dickson was a senior and experienced negotiator on major EPCM contracts and brought a senior commercial presence to the negotiating table.

He said Mr Dickson's desire to join Lake demonstrates his confidence in the cutting-edge Lilac technology and strong ESG focus which will see Lake set a new standard for the lithium extraction and production industry.

"His expertise links project delivery, leadership, technical knowledge, and relationships with key stakeholders across industry, government, and the investment community."

Mr Dickson is currently a Senior Advisor to Private Equity firm, Quantum Energy Partners, the leading global provider of private capital to the responsibly sourced energy and energy transition & decarbonization sectors and an Executive Strategic Advisor to strategic investment firm, The Chatterjee Group.

He spent over seven years as CEO of global engineering and construction firm McDermott International, leaving in 2021. At the outset of his tenure, McDermott employed approximately 14,000 people and operated in 20 countries.

Mr Dickson built a strong leadership team, steered the company into profitable new markets and struck deals with key customers, such as Saudi Aramco.

He oversaw McDermott's merger with CB&I and ultimately grew the business to over 30,000 employees across 54 international markets.

Prior to McDermott he was previously President of Technip USA, overseeing marketing and operations in North, Central, and South America. He was also appointed to the board of the US National Safety Council, and a member of the World Hydrogen Council.

"Lake Resources has the opportunity to set a new global standard for producing clean, high-purity lithium at speed and scale, at a time when lithium demand is growing rapidly," Mr Dickson said.

"To be a part of the global energy transition and bring a crucial new technology into large scale lithium production is an immense privilege.

"I look forward to bringing all my experience to this role and building one of the companies of the future," Mr Dickson said.

Mr Crow said Lake had conducted a global six-month search for the right CEO and Managing Director.

"We welcome David to the leadership team at this phase of the company's history as we move toward development and production of our first project at Kachi," Mr Crow said.

He said major new international appointments to the Lake board would be announced shortly covering ESG, governance, and finance and audit.



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.

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL  Appoints Corporate Development Officer

Lake Resources NL Appoints Corporate Development Officer

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has appointed an experienced mining company commercial executive Mr Sean Miller to the newly created position of Corporate Development Officer to fast-track development activity across Lake's three brine projects in the Jujuy Province of Argentina - Cauchari, Olaroz and Paso.

This is part of Lake's aspirational target to reach capacity of 100,000 tpa LCE; underpinning Lake's position as a leading lithium producer globally.

Mr Miller has significant experience and skills in project execution, supply chains, contracts and procurement, and project optimisation.

Lake has created a Corporate Development division to rapidly advance all three projects toward production in order meet the growth in global demand for high purity lithium.

Lake has committed US$15m to these projects and will increase this amount as they move into more advanced stages of development.

Additional drilling rigs and personnel will be secured this year. Test work is under way on initial samples of recovered brines to maximise the rate of lithium recovery and final product quality, utilising sustainable methods of extraction.

Mr Miller has overseen the successful delivery of multibillion dollar projects in both Australia and international markets.

He has broad experience including general management, strategic planning, supply chain, finance, legal, information technology, sustainable development and human resources in both greenfield projects and brownfield sites.

His prior roles include being head of commercial operations for The Carmichael Rail Project in Queensland; Commercial Development Director at the Kamoto Copper Company Copper and Cobalt mine in Katanga province of the Democratic Republic of Congo; Manager - Contracts & Procurement for Glencore's North Queensland Metals; and Superintendent Metal Handling at Rio Tinto's Boyne Smelters Ltd.

The Corporate Development division at Lake has been created to fast track Cauchari, Olaroz and Paso and allow full scope for the advancement of the Kachi project in Catamarca which is being led Lake COO Mr Gautam Parimoo and his team.

Mr Miller's appointment is the first of several new appointments by Lake as the company builds out its senior management team and board while moving toward FID on the Kachi project.

As announced recently, the company will appoint a new US based CEO. That selection process is nearing completion following final interviews with the board.

Lake will strengthen and broaden the experience of its board ahead of completion of project financing and is finalising the selection of new board members.

Lake intends to make these appointments over the coming months following the appointment of the CEO as part of the transition to a US-based corporate office.

"Lake is entering an exciting phase of the company's history as we transition the company toward development and production of our first project at Kachi," Lake Executive Chairman Mr Stuart Crow said.

"The addition of new skills and experience across the company will enable Lake to become a key supplier as the lithium sector comes to terms with a scarcity of supply and a limited number of projects coming online.

"Supply is needed to meet rapidly growing demand for lithium as EV sales and penetration hits the inflection point of adoption across all major markets globally.

"This constrained supply dynamic provides an enormous opportunity for Lake as one of the few companies with multiple, highly prospective projects to meet this growing demand," Mr Crow said.



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.

News Provided by ABN Newswire via QuoteMedia

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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 providing a clean solution to the delivery of high quality lithium into the battery materials supply chain powering the energy transition. Lake uses disruptive, direct extraction technology (DLE) from its partner, Lilac Solutions Inc in California (Lilac), who is earning into the flagship Kachi Project, for efficient production of high purity lithium with significant ESG benefits. No mining is involved in the brine processing.

Production from the flagship Kachi Lithium Brine Project is targeted to commence in 2024 at a rate of 50,000 tpa lithium carbonate. Kachi is indicatively financed into production with long dated low-cost project finance from the UK Export Finance and Canada's EDC for approximately 70% of the total finance required for Kachi's development, subject to standard project finance terms (ASX release 11 Aug 2021).

Lake's development plan uses a cost-effective DLE method that enables Lake to come to market quickly at significant scale with strong ESG benefits, a low carbon (CO2) footprint, low water and low land use.

High purity battery quality lithium carbonate (99.97% purity) has been produced (ASX release 20 Oct 2020) from pilot plant modules, which performed successfully in NMC622-based lithium-ion battery test cells (ASX release 2 March)

Lilac Demonstration Plant Delivered to Kachi Project

Lilac's demonstration plant has been delivered from California USA to the Kachi Project by Lakes' technical partner, Lilac Solutions, after extensive and successful test work. The ion exchange modules and supporting equipment were assembled for the demonstration plant in five 40 ft (12m) shipping containers. The modular design allows for a "plug and play" approach once brine feed, power and reagents are connected.

The demonstration plant is currently being assembled prior to commissioning.

The demonstration plant will operate for around 3 to 4 months to produce lithium chloride (eluate) representing 2.5 tonnes of lithium carbonate. This will be converted into high purity battery quality lithium carbonate for potential offtakers and battery qualification later in the year. Producing high purity product on site further de-risks the project for offtakers, financiers and investors. Test work in California, USA continues to produce data for the Definitive Feasibility Study and product samples for testing.

Kachi Lithium Brine Project

Appointment of Joint Coordinators for Debt Finance

Citi and JPMorgan were appointed during the quarter as join coordinators for the proposed debt finance of the Kachi project following an extensive and competitive tender process.

The investment banks will coordinate workstreams between lenders and third-party analysis on major project milestones including due diligence, JORC compliant definitive feasibility study (DFS) and the Environmental Social Impact Assessment (ESIA).

Discussions have continued with the UK Export Finance (UKEF), the Export Credit Agency (ECA) of the United Kingdom, and Export Development Canada (EDC), who have previously provided indicative support for approximately 70% of the total finance required for Lake's Kachi project at the expanded rate of 50,000 tpa LCE, subject to standard project finance terms. Project finance terms include, among others, suitable structured offtake contracts, the successful completion of Kachi's Definitive Feasibility Study (DFS), and an Environmental and Social Impact Assessment (ESIA) to Equator Principles (ASX release 11 Aug 2021).

Drilling Continues at Kachi

Drilling continues at Kachi to reinforce prior lithium assay results extending beyond the limits of the current resource. Such drilling is aimed to support planned production targets for the Kachi Project (ASX release 15 Dec 2021). A four well diamond drill programme and an additional rotary drill programme is underway with the intention to upgrade the resource to a higher category and to expand it (ASX release 7 Jul 2021).

Cauchari, Olaroz and Paso Lithium Brine Projects

Jujuy Province, Argentina

Lake owns three lithium brine projects, Cauchari, Olaroz and Paso, over 47,000 hectares in Jujuy Province in north-west Argentina. Lake aims to bring forward development of these projects to ensure multi-asset lithium expansion by drilling and testing prior to anticipated additional feasibility studies.

A second drilling rig has arrived on site to supplement the drilling program that commenced in February.

Drilling is now advancing at both Olaroz and Paso projects. Assay results are expected to become available during 3Q.

The drill wells are designed as part of an accelerated program across all projects in the area to quantify brines identified, develop aquifers, and conduct pump tests with data for initial feasibility studies. Rotary wells will be followed by diamond holes. Brines will be sampled and tested with direct lithium extraction methods, similar to previous work conducted on Kachi project lithium brines.

Lake has previously confirmed multiple high-grade lithium brine zones in drilling in 2019 at the Cauchari Project (ASX release 23 Aug 2019). The higher-grade results averaged 493 mg/L lithium over 343m (from 117m to 460m), up to 540 mg/L, which are similar to lithium brines in the adjoining Ganfeng/Lithium Americas JV production development.

Cash Position and Finance

Lake held cash of A$175 million (US$120m) as at 30 June 2022 (in AUD, USD and Argentine Pesos) with no debt.

The Company is financed through to the Final Investment Decision (FID) and construction finance phase, including the Definitive Feasibility Study (DFS) for the Kachi project.

Payments to related parties of the entity and their associates:

Amounts paid to related parties of the entity and their associates during the quarter were $569,000. These amounts related to normal Directors fees including the salary of the former Managing Director, the fees for the Executive Technical Director for the Definitive Feasibility Study and fees for the Executive Chairman for ongoing marketing and fundraising activities.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/561A01RW



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.

News Provided by ABN Newswire via QuoteMedia

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American Manganese Changes Name to RecycLiCo Battery Materials Inc.

American Manganese Changes Name to RecycLiCo Battery Materials Inc.

TSXV: AMY)(OTCQB:AMYZF)(FSE 2AM) RecycLiCo Battery Materials Inc., formerly American Manganese, a battery materials company focused on the development of novel and environmentally friendly lithium-ion battery recycling and upcycling technologies, is pleased to announce its change of name to RecycLiCo Battery Materials Inc. ("RecycLiCo" or "Company"). The name change better reflects the Company's core competencies and mission in lithium-ion battery recycling-upcycling and clearly communicates the Company's commercial opportunities to potential partners and shareholders

The Company's common shares began trading on the various stock exchanges on October 3, 2022, under the new name. The stock symbols for the Company on the various stock exchanges will remain the same. The new CUSIP number assigned to the Company's common shares will be 75629Y108 and the new ISIN number will be CA75629Y1088.

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Naturevan Expands Distribution to Asia

Naturevan Expands Distribution to Asia

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Management is currently working on distribution agreements in Asia which will allow the Company to expand supply to a larger audience and enter into different distribution channels, multiplying sales and profit.

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Montfort Capital Acquires Majority Stake in Leading Insurance Lender

Montfort Capital Acquires Majority Stake in Leading Insurance Lender

Montfort closes on the third acquisition in the past year bringing total consolidated assets to $475 million

Montfort Capital Corporation ("Montfort" or the "Company") (TSXV: MONT ) (OTCQB: MONTF) a leading  alternative lender  utilizing focused strategies, experienced management teams and advanced technology, is pleased to announce it has closed on the acquisition of approximately 78% of Langhaus Financial Partners Inc. ("Langhaus"). Langhaus is the parent company of Langhaus Financial Corporation ("LFC"), Canada's largest independent provider of insurance policy backed loans, with a specific focus on high-net-worth individuals and entrepreneurs. The Langhaus acquisition was previously announced on May 12, 2022 . The total common share valuation of Langhaus is $12 million and the board, management and vendors of Langhaus are at arm's length to the Company.

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Lomiko announces the third round of analytical results from the infill and extension exploration drill program at La Loutre Graphite property, drilling wide high-grade intersections at 11.02% Cg over 120m at the northern end of EV Zone

Lomiko announces the third round of analytical results from the infill and extension exploration drill program at La Loutre Graphite property, drilling wide high-grade intersections at 11.02% Cg over 120m at the northern end of EV Zone

Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce the third round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 23, 2022 for more details about Lomiko's ECOLOGO certification.

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RecycLiCo Battery Materials Provides Corporate Update

RecycLiCo Battery Materials Provides Corporate Update

TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) American Manganese Inc. (the "Company"), doing business as RecycLiCo Battery Materials, is pleased to announce that the TSX Venture Exchange (the "TSXV") has consented to the Company proceeding with the change of name to RecycLiCo Battery Materials Inc

The Company will be proceeding with its name change and expects to complete the process in the coming weeks. The stock symbols for the Company on the various stock exchange will remain the same, after completion of the name change. On the TSXV the symbol will remain unchanged as "AMY"; on the OTCQB it will remain unchanged as "AMYZF"; and on the FSE it will remain unchanged at "2AM".

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ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to announce that its wholly-owned subsidiary, Concierge Medical Consultants Inc. ("Concierge"), launched personal home care services in the Greater Toronto Area (GTA). The Company plans to expand to the Vancouver area in the near future.

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