Lake Resources NL (ASX:LKE) Half-Year Accounts

Half-year accounts

Sydney, 15 March 2022 AEST (ABN Newswire) – Lake Resources NL (ASX: LKE) (EN:LK1) (OTCMKTS: LLKKF) provides a clean solution to delivering high-quality lithium into the tight supply chain of battery materials powering the energy transition. Lake uses disruptive direct extraction technology from its partner, Lilac Solutions Inc in California (Lilac), for efficient production of high-purity lithium with significant ESG benefits. No mining is involved in the processing of the brine.

Production from the flagship Kachi Lithium Brine project is expected to begin in 2024 at a rate of 50,000 tpy of lithium carbonate. Kachi is indicatively funded in production with long-term, low-cost project funding from UK Export Finance and Canada’s EDC for approximately 70% of the total funding required for Kachi’s development, under subject to standard project funding terms.

Lake’s development plan uses an efficient Direct Lithium Extraction (DLE) method from our technology partner, Lilac, which is winning in the Kachi project. This enables Lake Resources to be a competitive supplier of high-purity lithium carbonate, capable of rapid commercialization at scale. The process generates strong ESG benefits, low carbon (CO2) footprint, low water and land consumption. High-purity (99.97% purity) battery-grade lithium carbonate has been produced (see ASX announcement October 20, 2020) from products from pilot plant modules. This product has successfully operated in NMC622 based lithium-ion battery test cells.

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About Lake Resources NL

Lake resourcesLake NL Resources (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using 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 located 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, responsible, environmentally friendly and competitive supplier of high purity lithium that is easily scalable and in demand by EV and Tier 1 battery manufacturers.

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