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Australia based Lake Resources NL (ASX: LKE) is a lithium mining company with its assets in Lithium Triangle – producer of world's 40% low-cost lithium. LKE’s project portfolio constitutes wholly owned Kachi, Cauchari and Olaroz Lithium Brine Projects, besides one hard rock project.
Let us quickly gauge through the Company’s projects: -
- Kachi Lithium Project: The project is advancing towards the pre-production phase. The project is anticipated to start in a phased manner from 10,000tpa by 2022/2023 to 25,000tpa lithium carbonate (LCE) plant capacity. The processing method is via Lilac Solution's direct extraction ion-exchange method, which is recently funded by the Bill Gates-Led fund Breakthrough Energy, creating immense opportunity among the investors.
The optimism can be gauged by the fact that the share price increased by ~69% (day’s high) post the announcement of Lilac series A funding on 21 February 2020. Also, the Company’s Placement and Share Purchase Plan (SPP) surged to A$2.5 million and $3.9 million before costs due to the overwhelming demand from the shareholders.
Concerned About Capital Raising Programme? Please Read: Lake Upsized the Share Purchase Plan and Placement Post Strong Shareholder Demand
- Cauchari and Olaroz Lithium Brine Projects: The maiden drilling result confirmed the presence of multiple high-grade lithium brines at Cauchari Lithium Brine projects. Whereas, the drilling at the site of Olaroz, which is located north of Cauchari Project, is expected post all holes are approved.
- Hard Rock Project: The hard rock or pegmatite project is at an early stage exploration phase. LKE has an outcropping pegmatite with lithium potential with a lease of around 80,000 hectares in the Catamarca Province of NW Argentina.
To Know More About Project, Please Read: Overview of Lake Resources Project - At the heart of Lithium Triangle
Presently, Lake Resources is looking forward to raising funds for direct extraction pilot plant development, construction and transportation to the Kachi project site. Additionally, it may also aid the Pre-feasibility optimisation and qualification testing of the Kachi product for the downstream participants helping further in financing support.
Mr Stephen (Steve) Promnitz joined LKE in November 2016 as Managing Director, bringing broad experience with a broader perspective in the mining industry ranging from exploration to production operations primarily focused in the South American region. He held Natural Resources - Bachelor of Science Honours degree and started his career as a geologist in Rio Tinto (ASX:RIO) followed by mining operations of Western Mining Corporation in Argentina.
Before joining Lake, he was CEO of Indochine Mining and, Pacific Rim's 2IC of Kingsgate Consolidated with assets in Chile. Also, it is worth mentioning that he also holds a senior corporate finance role with Citi and Westpac.
He is also fluent in Spanish aiding to the handling of local business.
Mr Stuart (Stu) Craw has international experience in corporate finance, financial services, global market, stockbroking and salary packaging. He has owned and operated his businesses and passionate about assisting emerging listed firms in attracting investors and capital.
Dr Nick Lindsay has 25 years plus experience in technical and commercial roles in the resources sector ranging from startup to major and mid-tier companies across Argentina, Chile and Peru. He has taken Laguna Resources as Managing Director from beginning to listing, development and later acquisition of the Company.
He is presently CEO of an unlisted company Manuka Resources Ltd, post holding the position of President in Kingsgate Consolidated Ltd – Chilean operations.
He holds a degree in Geology (Bachelor of Science – Honours), MBA and PhD in Metallurgy and Materials Engineering. He is also a member of AIG and AusIMM.
Dr Robert Trzebski is a renowned mining executive with commercial, operational and technical skills in a global mining market including Argentina. He holds a degree in Geology, master's in project management and a PhD in Geophysics. He has 30 plus years of expertise in mining services and project management.
Dr Trzebski is member of AIMM (Australian Institute of Mining and Metallurgy) and was appointed as a Non-Executive Director of LKE on 10 December 2019.
He is fluent in German, English and Spanish.
The presence of a broad range of knowledge ranging from geology to business expertise; with the understanding of working in Argentina or South American region is projected to aid the proper execution of the intended plan of action.
On 10 March 2020, LKE traded at A$0.033 (11:51 AM AEDT). Its 52 weeks high is A$0.115 and 52 weeks is A$0.023 with a market cap of A$21.27 million.
