Lake Resources N.L. (ASX:LKE) has lodged the attached Short Form Prospectus with ASIC today whereby the Company intends to issue 16,666,667 Options to Placement Applicants who participated in the Placement by the Company in March 2018 and 16,650,000 Options to Noteholders who applied for Options under the Note Issue.
Lake Resources NL
Lake Resources NL (ASX:LKE) is a lithium exploration and development company focused on developing its 3 lithium brine projects and 1 hard rock project in Argentina, all owned 100%. The leases are in a prime location among the lithium sector's largest players within the Lithium Triangle where half of the world's lithium is produced. Lake holds one of the largest lithium tenement packages in Argentina (~180,000Ha) secured in 2016 prior to a significant 'rush' by major companies. The large holdings provides the potential to provide security of supply demanded by battery makers and electric vehicle manufacturers.
The three key brine projects, Kachi, Olaroz/Cauchari, and Paso, are located adjacent to major world class brine projects either in production or being developed in the highly prospective Jujuy and Catamarca Provinces. The Olaroz-Cauchari project is located in the same basin as Orocobre's Olaroz lithium production and adjoins SQM/Lithium Americas Cauchari project, where high grade lithium (600 mg/L) with high flow rates have been drilled immediately across the lease boundary.
The Kachi project covers 50,000 Ha over a salt lake south of FMC's lithium operation and near Albemarle's Antofalla project. Drilling at Kachi has confirmed a large lithium brine bearing basin over 22km long and over 400m deep. Drilling over Kachi is aimed to produce a resource statement in 2018, anticipated in Oct 2018.
Drilling will commence in coming months at Olaroz-Cauchari now that tenure has been confirmed in a landmark agreement in March 2018. This will provide several catalysts for the company's growth. Scope exists to unlock considerable value through partnerships and corporate deals in the near-term.
Significant corporate transactions continue in adjacent leases with development of SQM/Lithium Americas Olaroz/Cauchari project with an equity/debt investment over $300 million and Advantage Lithium's equity transaction in some of Orocobre's leases. LSC Lithium has also raised over $60 million on a large lease package in similar areas as Lake's properties. Nearby projects of Lithium X were recently acquired via a takeover offer of C$265 million completed March 2018. The northern half of Galaxy's Sal de Vida resource was purchased for US$280 million by POSCO in June 2018.
The demand for lithium continues to be strong for lithium ion batteries in electric vehicles, according to recent data from the leading independent battery minerals consultant - Benchmark Mineral Intelligence. Supply continues to be constrained suggesting good opportunities for upstream lithium companies for many years.
Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) is pleased to provide an update on drill results and ongoing exploration activities at its 100%-owned Kachi Lithium Brine Project in Catamarca Province.
Lake Resources NL (ASX:LKE) Drilling Confirms Large Scale Lithium Brine Basin Kachi Lithium Project, Argentina
Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) is pleased to report initial drill results and ongoing exploration activities at its 100%-owned Kachi Lithium Brine Project in Catamarca Province.
Lake Resources NL (ASX:LKE) provides the Company's Quarterly Activities Report for the period ending 31 March 2018.
Lithium exploration company Lake Resources N.L. (ASX:LKE) has completed the first rotary drill hole to 240 metres with slotted casing in place to 237 metres to allow testing and sampling at the Company's 100%-owned Kachi Lithium Brine Project in Catamarca province, Argentina.
Lithium exploration company Lake Resources N.L. (ASX:LKE) announces that it has secured commitments to raise $4.5 million (before costs) in an oversubscribed private placement by way of the issue of 33,333,335 new ordinary LKE shares at $0.135 per share with an attached 1-for-2 option exercisable at $0.20 on or before 15 December 2018, to sophisticated and professional investors.
The directors present their report, together with the financial statements, on the consolidated entity consisting of Lake Resources NL (ASX:LKE) and the entities it controlled at the end of, or during, the half-year ended 31 December 2017.
Investors in Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE) are advised that Hunter Capital Advisors has today published a research report on the Company.
Lithium exploration company Lake Resources N.L. (ASX:LKE) has advanced the first rotary drill hole to a depth of 240 metres with encouraging indications of conductive brines in two thick sandy aquifers at the Company's 100%-owned Kachi Lithium Brine Project in Catamarca.
Lake Resources NL (ASX:LKE) provides the Company's latest presentation.