The company’s shares will remain on hold until Wednesday, September 22 or when an announcement is released to the market.
Lake Resources NL (ASX: LKE, OTCQB: LLKKF) has secured a trade suspension pending the publication of an announcement regarding the negotiation of a major deal with technology partner Lilac Solutions Inc.
LKE is expected to be back on the charts by the start of normal trading on Wednesday, September 22, 2021 or when an announcement is released to the market.
The company has a market cap of around $ 571.3million and the shares last traded at AU $ 0.515, compared to AU $ 0.21 when the market closed on May 13.
The company intends to use proven “clean” direct mining technology to produce durable, high-purity lithium from its flagship Kachi project in Argentina’s lithium triangle.
LKE’s Kachi project has leased rights to 70,000 hectares with an expandable resource of 4.4 million tonnes of lithium carbonate equivalent and only 20% of the resource has been slated for extraction so far, at 25,500 tons per year for 25 years of production.
The method gives promising results
Lake lithium is processed using revolutionary clean technology developed by Lilac Solutions.
This direct mining method is designed to provide high purity battery material and more sustainable and responsibly sourced materials, providing solutions to two of the most pressing problems affecting the growing demand for lithium and in particular lithium batteries. electric vehicles – quality and durability.
Lilac Solution’s technology uses brine treated with high recoveries from the Kachi project to produce lithium chloride, successfully producing a lithium carbonate product with a purity of 99.9%.
Read: Lake Resources approaches financial support for the Kachi Lithium project after reporting strong expression of interest
Interest in UK export finance
Lake Resources’ Kachi project is on track to secure full financial support for the Kachi project after an expression of interest of approximately 70% of total requirements from the official export credit agency from the United Kingdom, UK Export Finance.