Excellent performance of Lake’s high purity 99.97% battery quality lithium carbonate in NMC-622 lithium-ion battery test cells conducted by Novonix.
Testing conducted using lithium carbonate produced from lithium chloride from Lilac Solutions’ pilot plant module using Lake’s Kachi brines. Similar results anticipated at full production scale.
Definitive Feasibility Study (DFS) progressing for Kachi Lithium Brine Project with Hatch as lead consultant, with completion anticipated in Q1 2022. An expansion case is being prepared separately.
Exploration continuing across Lake’s four lithium projects with testing of brines from Cauchari underway.
Lake secured global institutional support via A$20m placement, funding Company through to key investment decision for Kachi construction finance, anticipated mid 2022. Cash of A$24 million as at end March.
Strong financial results generated from a refreshed Pre-Feasibility Study for the Kachi Project, with US$1.6 billion NPV8 (post tax), 35% IRR and US$260 million annual EBITDA, using a flat forward lithium carbonate price of US$15,500/tonne.
Project finance advisors appointed to negotiate with Export Credit Agencies (ECA’s) to provide substantial debt finance for the Kachi Project.
Discussions advanced with potential offtakers and electric vehicle makers due to the consistent high quality of the Kachi lithium product, together with a low CO2 footprint and small environmental footprint.
Lithium prices increased ~100% in battery grade lithium carbonate price (China) during the March quarter. This provides opportunities for organic expansion to deliver battery materials into the growing demand for electric vehicles.
50,000 litres of brines from Lake’s Cauchari Project to be shipped and tested by groups specialising in direct lithium extraction and conversion to lithium hydroxide.
Pre-feasibility study planning for Cauchari underway.
Lake to test additional brines from Olaroz and Paso projects to meet objective of producing high purity, sustainable lithium from a number of its 100% owned projects.
Exploration to be accelerated as demand continues to outstrip supply, with projections of significant supply deficit emerging from 2024.
Kachi NPV increases 110% to US$1.6bn (A$2.1 billion) based on revised lithium price estimates in a refreshed PFS, based on 25,500 tpa lithium carbonate production, which demonstrates a more robust financial outcome than the original conservative PFS price assumptions.
Kachi project value, as post-tax NPV, increases 110% to US$1.58 billion (A$2.1 billion) with a 35% IRR and annual EBITDA of US$260 million (A$350m), using updated lithium price forecast of US$15,500/tonne for battery grade lithium carbonate.
Lake assessing potential increase of lithium carbonate production at the Kachi Lithium Brine Project, as demand continues to rise from battery makers for high purity product.
Joint financial advisors appointed to structure and secure project finance for the construction and development of Lake’s flagship Kachi Lithium Project.
Focus is on accessing international debt finance via Export Credit Agencies, a secure, lower cost form of long-term capital.
Positive results returned from initial testing by Novonix (ASX:NVX) for high-performance lithium-ion batteries using Lake’s high 99.97% purity lithium carbonate.
Novonix compared commercial product to Lake’s lithium product to provide real-world comparisons for Tier 1 battery makers.
Lake’s lithium carbonate performing better than commercially available battery grade lithium carbonate in lithium-ion battery cells.
Novonix program to continue for some months to produce cells and batteries at a larger scale.
Kachi Project Definitive Feasibility Study (DFS) formally commenced. Dr Nicholas Lindsay will assume the role as Technical Director.
High purity 99.97% battery quality lithium carbonate produced by direct extraction from Lake’s Kachi brines, being processed into lithium-ion battery test cells by Novonix.
Company raised $20 million and is well funded through to construction finance.
OTC listing OTC:LLKKF available for real-time trading and settlement.
First samples of Lake’s high 99.97% purity lithium carbonate sent to Novonix in Canada to produce high-performance lithium-ion batteries.
Novonix provides high technology battery testing equipment to Tier 1 battery makers giving Lake global exposure.
Hazen continues to produce high purity 5kg-6kg carbonate samples using a simple flowsheet from lithium chloride produced at the Lilac Solutions pilot plant module from Lake’s Kachi brines.
Novonix program will be undertaken over four months with first results anticipated in February.
High purity 99.97% battery quality lithium carbonate produced at the Lilac Solutions’ pilot plant.
Kachi Project brines prove to supply a product of very low impurities, attractive for the battery market, with premium pricing potential.
Samples to be sent to Novonix to produce high- performance lithium-ion battery test cells using Lake’s lithium carbonate samples.
Company well-funded to initiate Kachi Project Definitive Feasibility Study (DFS).
Hazen has broadened its scope by reviewing different process combinations to optimize the consistent production of larger battery-quality lithium carbonate samples, with first samples next week; Hazen was appointed due to their thorough analysis using different applications to achieve the best quality product prior to producing samples in large volumes; Feedback to date from Hazen has been very encouraging and Lake remains confident in delivering high purity lithium carbonate samples.
Independent assay laboratory, Hazen, expected to produce initial larger samples of battery-quality lithium carbonate within 15-18 days. Hazen is conducting a thorough analysis to optimize the process for a superior product and is in the bulk precipitation phase at present. Significant step towards independent verification of quality of Lake’s responsibly sourced, high-purity lithium, amid growing demand.
Lake appoints respected Novonix Battery Technology Solutions in Nova Scotia, Canada, to produce high-performance lithium-ion battery test cells using Lake’s lithium carbonate samples compared to industry leading materials. Data from battery technology and materials company Novonix will allow potential users and off-takers of Lake’s high purity, responsibly sourced product to make direct comparisons of its performance.
Lake closes partially underwritten, oversubscribed private placement, securing $2.55 million before costs from sophisticated and professional investors. Funds to help complete production of larger, high purity lithium carbonate samples for downstream off-takers and testing of the lithium chloride product from Lilac’s pilot plant, in addition to initiating a definitive feasibility study for Lake’s Kachi Lithium Brine Project.
In accordance with Listing Rule 17.1, Lake Resources NL. (the “Company”) requests an immediate trading halt on its securities (ASX: LKE) pending the release of an announcement to the market in relation to a material capital raising. The trading halt is requested until the earlier of the release of the announcement or prior to commencement of trading on Wednesday, 26 August 2020.
Clean lithium developer Lake Resources NL (ASX:LKE; 0TC:LLKKF) has appointed Hazen Research Inc (Hazen), a Colorado-based independent assay laboratory, to produce larger samples of battery quality lithium carbonate for supply to potential off-takers and other interested parties.
First lithium chloride samples successfully produced from Lilac pilot plant using Kachi brines, with high lithium concentrations similar to previously demonstrated at laboratory bench scale. 20,000 litres of brines from Kachi continues to be processed at Lilac’s pilot plant module in California. Compelling and robust Pre-Feasibility Study (PFS) results for Kachi Lithium Brine Project in Argentina, show project capable of producing sustainable high-purity lithium carbonate to attract premium pricing. Long life, low cost operation with 25,500tpa LCE using Lilac Solutions' innovative sustainable direct extraction method at competitive operating and capital costs. High purity battery grade lithium carbonate samples (99.9%) demonstrated from Kachi Project. Discussions advanced with international financiers for funding advancement of Kachi Project.
High concentrations of lithium chloride are being consistently produced from Lilac’s pilot plant module with results similar to prior bench top testing. Processing continues of initial 20,000 litres of brine from Lake’s Kachi Lithium Brine Project. Established independent commercial assay laboratory to now produce larger battery-quality lithium carbonate samples on advice from some downstream participants. Lake and Lilac are confident that high purity lithium carbonate samples will be produced - first third party assayed carbonate samples to be reported in ~5 weeks.
Samples show high lithium concentrations from pilot plant module as previously demonstrated at lab scale; Processing of 20,000 litres of brines from Lake’s Kachi Lithium Brine Project continues at technology partner Lilac Solutions’ upgraded facility in California.