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The Lake NL Resources (ASX: LKE) the stock price rose today following the company’s latest announcement.
As of this writing, shares of the clean lithium developer are trading for $1.035 per pop, up 6.15%.
What did Lake Resources announce?
Shares of Lake Resources climb after the company marked its progress on its flagship Kachi Lithium Project.
According to the statement, Lake Resources informed that the modular demonstration plant had been sent to the Kachi project in Argentina.
The demonstration plant was designed and built by Lake Resources technical partner, Lilac Solutions Inc.
The California engineering team assembled the ion exchange modules and supporting equipment in five 12-meter shipping containers.
Lake Resources noted that the modular design allows for a “plug and play” approach, once brine supply, power and reagents are connected.
Once built at the Kachi project, the demonstration plant will produce lithium chloride (eluate) representing 2.5 tonnes of lithium carbonate. This will then be converted into battery-grade, high-purity lithium carbonate for potential buyers and battery qualification later this year.
The demonstration plant should operate between three and four months.
The disruptive lithium processing technology is said to “reduce operating costs and boost lithium recovery from brines from the Kachi Project”.
If the demonstration plant is successful and Lake Resources can find buyers, then Kachi could become a significant producer globally.
The company aims to bring high purity lithium carbonate to market with a low carbon footprint.
Lake Resources Managing Director Steve Promnitz commented:
Lake and Lilac are confident that the demonstration plant incorporating Lilac’s proprietary ion exchange process will prove to investors and buyers that it is scalable and performs well on site by successfully producing a high quality lithium product. .
Lake is well positioned to deliver a major project with a consistent high quality product with substantial ESG benefits.
About Lake Resources Stock Price
The Lake Resources stock price has been one of the best places to invest over the past year, rising 170%. While renewed investor sentiment within the battery industry has helped support the stock price, the company has had significant tailwinds.
Based on today’s price, Lake Resources has a market capitalization of approximately $1.27 billion, with approximately 1.22 billion shares outstanding.