Lake Resources NL Suspends Trading With Pending Capital Raise News

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The company uses direct and clean mining technology for the development of sustainable, high purity lithium from its flagship Kachi project in Argentina.

Lake Resources NL (ASX: LKE) (OTCMKTS: LLKKF) has been granted a halt in trading by the ASX with a major upcoming capital raising announcement.

The trading halt will remain in place until ASX trading begins on Wednesday August 26th or when an announcement is posted to the marketplace, whichever occurs first.

Shares of the company, which has a strategy of producing “clean” lithium products, last traded at 3.5 cents and LKE has a market cap of around $ 23.5 million.

Larger samples to produce

Lake recently appointed Colorado-based independent analytical laboratory Hazen Research Inc to produce larger samples of its “clean” battery-grade lithium concentrate to supply to potential buyers and other interested parties.

This will be done using efficient and disruptive clean technology developed by Lake’s technology partner, Lilac Solutions, for the brine at the company’s flagship project in Kachi, Argentina.

Lilac lithium mining pilot plant module processed Kachi brine with high recovery rates to produce lithium chloride, which is suitable for processing into battery grade lithium carbonate using conventional carbonate treatment methods.

99.9% pure lithium carbonate was produced by Lilac from this lithium chloride using the conventional lithium carbonate process.

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