TradingCharts
1 year ago
Independent verification of high-grade lithium carbonate
from Kachi Demonstration Plant
3 April 2023
Highlights
• Independent testing of lithium carbonate produced from Kachi Lithium Project confirms grades and purity greater than 99.8%
• Saltworks test with independent analysis validates commercial process for Kachi Project and confirms ability to produce high-quality, battery grade lithium carbonate using Lilac's DLE technology
• Product quality exceeds project design specification and battery grade specifications of major South American lithium brine producers
Clean lithium developer Lake Resources NL (ASX:LKE; OTC:LLKKF) in partnership with its DLE technology partner, Lilac Solutions, Inc. (“Lilac”), announces that independent testing of lithium carbonate produced from their joint Kachi Project in Argentina has confirmed grades and purity greater than 99.8%. Project Kachi is a world-class lithium development project that is poised to lead the industry in the production of high-quality lithium with minimal environmental footprint.
This test, performed by Saltworks with independent analysis by two third party labs, validates the major commercial process systems for the Kachi Project and confirms its ability to produce high- quality, battery-grade lithium carbonate from Lake’s brine resource using Lilac DLE technology. The quality of the Li2CO3 product from the Saltworks test exceeds the Project Design Specification and the battery grade specifications of major- South American brine lithium producers.
Context to the Testing
As announced in early January, Lilac successfully operated the Demonstration Plant for over 1,000 hours and produced 40,000 litres of lithium chloride eluate before December 31, 2022, meeting important performance milestones in accordance with the agreed timeline. The lithium chloride eluate produced by Lilac using its propriety ion exchange technology was then shipped to Saltworks, in Canada, and a portion was converted to lithium carbonate, after which it was independently tested for purity.
The Lilac demonstration plant continues to operate, as Lilac nears completion of the performance milestone to process 120,000 litres of eluate for conversion into battery grade lithium carbonate.
“This is a new process that has now been proven to produce high grade lithium in our ‘mining and refining’ facility – this means a critical part of the value adding chain is being captured by Lake,” said Lake CEO David Dickson.
“It also sets a new standard for what it means to be a responsible member of the lithium supply chain.”
“The Lilac team is excited to see these concrete results showing that our technology is not only faster with higher recovery, but also enables a higher purity product,” said Lilac Solutions CEO Dave Snydacker.
“Alongside Lake Resources, we are proving that it is possible to produce lithium – the cornerstone of our clean energy future – without damaging the planet we’re trying to save. I look forward to further development of a clean, socially responsible lithium supply chain, and the continued success of our joint Kachi project.”
https://lakeresources.com.au/wp-content/uploads/2023/04/lke_high-grade-lithium-carbonate_3-apr-23.pdf
TradingCharts
1 year ago
21 November 2022
Kachi Project update
Highlights
• Lake Resources and Lilac Solutions have concluded dispute resolution in the form of contract amendment, proceeding with a “one team” approach for project delivery
• Demonstration plant operating continuously at 90 percent of steady state, over 600 hours to date, towards the 1,000-hour requirement
• Lithium chloride concentrates produced well within specified concentration limits, confirming previous test results
• Demonstration plant on-site observation and validation by Hatch Ltd is planned to take place in the near term
Clean lithium developer Lake Resources NL (ASX:LKE; OTC:LLKKF) advises that a contract amendment has been signed to resolve the dispute between Lilac Solutions and Lake Resources. This amendment allows the teams to reset the relationship and jointly focus on delivery of the world-class Kachi Project, which will lead the industry in terms of high-quality lithium produced with a minimal environmental footprint.
In resolving the dispute, Lake and Lilac have agreed to an amended timeline which both are confident can be achieved; as before, Lake will have certain buy back rights if Lilac does not meet agreed testing criteria in a timely manner.
Lilac and Lake continue work at the Kachi Project demonstration plant, with performance of the plant in line with expectations. The demonstration plant has now produced more than 15% of the total forecast output in the short period since the plant came online this quarter. A total of 20,000 litres of LiCl have been produced to date and ongoing production is proceeding, consistent with the demonstration plant’s planned operational schedule.
The demonstration plant is currently operating continuously at 90 percent of steady state capacity, volume, and production. Hatch Ltd engineering personnel will travel to Argentina to observe and validate the operations of demonstration plant in steady state in coming weeks.
The Kachi demonstration plant continues to produce in-spec LiCl solution between 1,900 and 3,800 mg/L. Previous testing on Kachi brines at Lilac’s California headquarters in Oakland delivered 1400-2354mg/L.
Lilac Solutions is preparing samples for shipment to Saltworks and Lilac’s facility in Oakland CA for conversion into lithium carbonate.
Lake CEO and Managing Director, David Dickson said the progress and test work being achieved was promising.
“We are fortunate to be working with Lilac as our partner, who is equally interested in doing things differently so we can efficiently deliver the large volumes of high-quality lithium chemicals needed by battery makers.
“Importantly, this lithium can be produced cleanly and in a way that respects and involves local communities and protects the environment.
“Lilac has worked extensively with Kachi brine since 2020, generating the data needed for engineering studies. These next steps, along with the strong alignment of our companies, are quite encouraging,” he said.
https://lakeresources.com.au/wp-content/uploads/2022/11/lke_kachi-update_21-nov-22.pdf
TradingCharts
2 years ago
12 October 2022
Strategic investment and offtake agreement with SK On
Highlights
• Offtake of up to 25,000 tonnes per annum of high purity lithium from Lake's Kachi Project.
• SK On to acquire 10 percent of Lake via strategic investment underpinning the development of a clean lithium supply chain to meet global environmental demand for electric vehicles, particularly in North America.
• Continued de-risking of the project for financiers and investors.
Clean lithium developer Lake Resources NL (ASX:LKE; OTC:LLKKF) advises it has entered into a Conditional Framework Agreement with SK On Co., Ltd. (SK On) for the offtake of up to 25,000 tonnes per annum (tpa) of lithium from Lake's Kachi Project, including a 10 percent investment by SK On in Lake via the issue of new ordinary shares.
Significant terms of the CFA are as follows:
• Strategic investment of a 10 percent stake in Lake (20 trading-day VWAP prior to 12/10/22)
• Offtake of 50 percent of Kachi project lithium product up to 25,000 dmt (LCE)
• Initial five-year term plus option for a further five years
• Offtake priced on an agreed market price formula based upon the average quoted price in the quotation period.
The CFA is subject to a standard set of conditions being achieved by Lake Resources including: DFS; Lilac demonstration plant results; financial due diligence; and product specifications.
The CFA becomes unconditional upon the satisfaction of conditions precedent.
“The CFA delivers a long-term strategic agreement with SK On, one of the world’s pre-eminent lithium-ion battery producers with a major growing presence in the North American market,” said Lake's Executive Chairman, Stu Crow.
He said the agreement strengthened Lake’s long-term shareholder base and added to the equity component required for the drawdown of debt facilities for project development.
Lake’s new CEO and MD David Dickson said the CFA cemented the ability of Lake to scale up environmentally responsible production and also afforded SK On the opportunity to participate in Lake’s other projects as they move to development to ensure a supply of high-quality lithium products are available to SK On.
Click here to read the announcement
Stu Crow
Executive Chairman
Lake Resources
TradingCharts
2 years ago
19 September 2022 Lake Updates Kachi Demonstration Plant Activity
(News in time for the chart)
Lake Resources NL (Lake) 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.
Approved by Lake Resources NL Board of Directors
Stu Crow
Executive Chairman
https://lakeresources.com.au/wp-content/uploads/2022/09/lke_kachi_19-sep-22.pdf
TradingCharts
2 years ago
TOP TWENTY SHAREHOLDERS
LAKE RESOURCES (ASX:LKE)
Top Twenty Shareholders (as at 9 September 2022)
Citicorp Nominees Pty Ltd 189,377,498 13.62%
BNP Paribas Noms Pty Ltd (DRP) 54,686,199 3.93%
HSBC Custody Nominees (Australia) Limited 52,708,689 3.79%
Merrill Lynch (Australia) Nominees Pty Ltd 46,675,740 3.36%
Acuity Capital Investment Management Pty Ltd (Acuity Capital Holdings a/c) 41,400,000 2.98%
US Register Control A/C 40,358,234 2.90%
JP Morgan Nominees Australia Pty Ltd 33,533,955 2.41%
BNP Paribas Nominees Pty Ltd (IB AU Noms Retail Client DRP 16,834,276 1.21%
Sydney Business Advisers Pty Ltd (CF Super Fund No 2 A/c) 15,850,000 1.14%
National Nominees Limited 15,059,241 1.08%
BNP Paribas Nominees Pty Ltd ACF Clearstream 11,185,540 0.80%
Paradise Marine Pty Ltd (James Super Fund A/C) 9,152,076 0.66%
Mr Daniel Ruben Bonafede 8,284,634 0.60%
Mr Simon James Kalinowski (RKSK Investment A/C) 7,900,000 0.57%
Ms Ainsley Ruth Williams 7,365,533 0.53%
Mr Andrew Robert Powell (The Pan Family A/C) 7,127,600 0.51%
Leigh Martin Marine Pty Ltd 6,300,000 0.45%
202 Limited 6,151,454 0.44%
HSBC Custody Nominees (Australia) Limited (GSCO Customers A/C) 5,438,461 0.39%
HSBC Custody Nominees (Australia) Limited – A/C 2 5,301,648 0.38%
TOTALS 580,690,778 41.78%
https://lakeresources.com.au/investors/capital-structure/
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