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.
Lake Resources NL
Lake Resources NL (ASX:LKE) is undertaking an aggressive exploration programme to explore and develop prime lithium projects in Argentina, owned 100%, among some of the largest players in the lithium sector. Lake holds one of the largest lithium tenement packages in Argentina (~170,000Ha) secured prior to a significant 'rush' by major companies with three key lithium brine projects located in the Lithium Triangle which produces half of the world's lithium. Lake also holds one large package of lithium pegmatite properties which were an unappreciated source of lithium in Argentina until recently.
The three key brine projects, Olaroz/Cauchari, Paso and Kachi, have similar settings to major world class brine projects being developed in the highly prospective Jujuy and Catamarca Provinces. One project is located next to Orocobre's Olaroz lithium production and SQM/Lithium Americas Cauchari project. 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 shown conductive brines in thick porous sands with results anticipated over the coming months. Surface sampling has revealed positive lithium results which will be expanded through the drilling program and geophysics. Exploration and permitting over Kachi and the other projects will provide several catalysts for the company's growth as these areas are assessed for major discoveries.
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 subject to a takeover offer of C$265 million in December 2017.
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.
Lithium exploration company Lake Resources N.L. (ASX:LKE) additional larger rotary drill rig will commence operations in the coming days to accelerate the drilling of lithium brines within conductive sands at the Company's 100%-owned Kachi Lithium Brine Project in Catamarca.
Argentina focused lithium exploration company Lake Resources N.L. (ASX:LKE) is pleased to provide shareholders with a video interview with Finance News Network regarding the company's landmark deal in Argentina in Jujuy province as discussed by Lake's Managing Director, Steve Promnitz.
FINANCE VIDEO: Lake Resources Ltd (ASX:LKE) Interview with Steve Promnitz on Argentinian Lithium Projects
Lake Resources Ltd (LKE.AX) Managing Director Steve Promnitz is interviewed by Tim Mckinnon of ABN Newswire regarding the recent agreement with the Jujui Province and the company's lithium projects in Argentina.
Lake Resources NL (ASX:LKE) provides the Company's latest Presentation titled "Large Scale - Jujuy Leases Heartland of Prime Lithium".
Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE) is pleased to advise it will host an investor teleconference with Managing Director, Steve Promnitz, on Friday, 2 March 2018 at 10:30 am Australian Eastern Daylight Time, to discuss the recent developments regarding the landmark agreement with Jujuy Province, Argentina.