Lake Resources NL (LKE.AX) Presidents Speech – Annual General Meeting
Sydney, Australia, January 25, 2022 – (ABN Newswire) – Ladies and gentlemen, my name is Stuart Crow, I am another shareholder and non-executive chairman of Lake Resources NL (ASX:LKE) (HAM:LK1) (OTCMKTS: LLKKF). I’m delighted to share some recent activity with your company, it’s been a great year for Lake Resources!
The year was marked by significant achievements and growth for Lake as the transition to transportation electrification accelerates globally, but not without the challenges arising from the continued disruptions from the impacts of the global pandemic . Your business has done well.
As we begin 2022, final EV sales figures are still being collected, but it has been reported that EV sales worldwide have exceeded estimates and appear to be in the 6, 5 million vehicles, more than double the 2020 figures, with many new models expected to release this in the next 12 months. Volume growth and demand appear to be picking up, even as they face shortages of battery raw materials. Deficits are expected to last well into the next decade as demand growth becomes exponential and supply response is subdued and linear at best, providing an exceptional opportunity for your business as we seek to advance our project. Kachi to production in 2024 and to bring our other three lithium brine projects rapidly into development.
The activity in 2021 has set a very solid foundation for us in 2022, a year that will surpass the entire history of the company in terms of growth and achievements to date.
This year, we intend to achieve the following results for shareholders:
1) On-site demonstration factory, sample production for potential buyers (March)
2) Sampling (in progress)
3) DFS, ESIA and permits (mid-2022)
4) Completion of project financing (mid 2022)
5) Construction activities (S2/22)
6) DFS extended to 50,000 tpa (full)
7) Production of high purity lithium carbonate in Kachi (S2/24)
8) Extensive exploration activity and test work on three more projects (2022)
We ended 2021 in a very strong financial position having secured expressions of interest from UKEF and EDC for project debt while having significant cash reserves in the bank, deep in currency options at exercise in June 2022 and a commitment from our technology partner to fund their share of the project financing as we begin construction in Kachi.
We continue to advance direct debit discussions with a growing number of potential partners and customers. Rising lithium prices in global markets present a tremendous opportunity for your business. Lake is now one of the few remaining companies with short-term production ambitions that remain independent, and we intend to remain so as supply chain issues surface. With increased efforts underway to create new local supply chains across Europe and North America, we see a significant opportunity to be part of this growth. Lake’s high purity product is highly sought after as audited sustainable supply chains become necessary to access significant government assistance in Europe and no doubt other parts of the world in time.
The ever-increasing gap between demand and supply has motivated your board of directors to expand our DFS to 50,000 tpa lately as part of an ambitious corporate goal to market 100,000 tpa or more. of sustainably produced high-purity lithium products by 2030. Your board is increasingly confident in achieving this goal as Lake has the advantage of using direct lithium mining to extract brine lithium which offers much higher recoveries than traditional methods and it is also an extremely scalable process providing a durable high purity product which is highly sought after by the market.
I would like to take this opportunity to thank shareholders for their continued support of their company as part of our fundraising efforts, strong shareholder participation in bonus option programs has prepared the company for a very exciting future. and it’s nice to see shareholders prosper as the company continues to grow. This year we also welcomed a growing number of large institutional investors to our register for the first time as well as a number of ESG funds and impact investors from international markets. We are delighted to have their continued support and interest in our projects.
Our company could not have achieved the growth and success it has enjoyed over the past 18 months without an excellent team on the ground both in Argentina and here in Australia and my thanks to all employees, partners, consultants and bankers around the world and of course to my fellow board members for their commitment through very difficult and disruptive times, I am truly grateful for your continued support and the excellent work you are doing, thank you.
The coming year, while challenging, I believe will be the best year for the company to date as we enter the construction phase of the Kachi project and continue to develop other projects.
I look forward with great anticipation, excitement and pride as a founding shareholder as your company strives to become one of the world’s leading suppliers of high purity lithium products.
Lake NL Resources
To view the AGM presentation, please visit:
About Lake Resources NL:
Lake Resources NL (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using clean, direct mining technology to develop 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 demanded by EV and Tier 1 battery manufacturers.
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