Lake Resources NL Stock Market Press Releases and Company Profile

View in Other Languages Lake Resources NL (ASX:LKE) Joint Debt Coordinators Appointed for Kachi Lithium Project Coordenadores de dívida conjunta da Lake Resources NL (ASX:LKE) nomeados para o projeto de lítio de Kachi Koordinator Hutang Bersama Lake Resources NL (ASX:LKE) Ditunjuk untuk Proyek Lithium Kachi Gemeinsame Schuldenkoordinatoren von Lake Resources NL (ASX:LKE) für Lithiumprojekt Kachi ernannt Lake Resources NL (ASX:LKE) Coordinadores conjuntos de deuda designados para el proyecto de litio Kachi Lake Resources NL (ASX:LKE) Coordonnateurs conjoints de la dette nommés pour le projet Kachi Lithium Lake Resources NL (ASX:LKE) Kachi 리튬 프로젝트에 공동 부채 조정관 임명 Lake Resources NL (ASX:LKE) 为 Kachi 锂项目指定联合债务协调员 Lake Resources NL (ASX:LKE) ผู้ประสานงานหนี้ร่วมได้รับการแต่งตั้งให้เข้าร่วมโครงการ Kachi Lithium Lake Resources NL(ASX:LKE)カチリチウムプロジェクトに共同債務コーディネーターが任命 Назначены совместные координаторы по долговым обязательствам Lake Resources NL (ASX:LKE) для литиевого проекта Kachi 
Joint Debt Coordinators Appointed for Kachi Lithium Project
Joint Debt Coordinators Appointed for Kachi Lithium Project

Sydney, June 17, 2022 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (googlechartASX:LKE) (googlechartLK1:FRA) (googlechartLLKKF:OTCMKTS) advises that it has appointed two leading project finance institutions, Citi and J.P. Morgan, as Joint Coordinators (JCs), for the Kachi Lithium Project.

The appointment was undertaken after a Tender Panel issued by Lake's advisor, GKB Ventures Ltd, to over 10 international banks and an extensive review and selection process which envisaged export agency guarantees for the proposed debt financing. The results of the Tender Panel implied that indicative bank appetite for the Kachi Lithium Project was in excess of 5 times the required amount, reflecting the strong interest by international banks for this project and the indicative support of the Export Credit Agencies (ECA's).

Citi and J.P. Morgan were deemed the strongest combination to coordinate the proposed financing package for this particular project. The two investment banks will work together on the debt financing package for Lake's 50,000 tonnes per annum (tpa) lithium carbonate equivalent (LCE) Kachi Lithium Project, with the ongoing support of GKB Ventures Ltd and SD Capital Advisory Limited.

The contemplated debt financing will be based on the indicative support by UK Export Finance (UKEF, the Export Credit Agency of the United Kingdom) to cover approximately 70% of the total Kachi Project funding requirement, subject to UKEF approval and to standard project finance conditions(ASX release 11 August 2021).

It is also planned to have Export Development of Canada, (EDC, Canada's Export Credit Agency) to participate alongside UKEF as the lead ECA, under a Common Terms Agreement (ASX release 28 September 2021).

The appointment of the investment banks advances the development of the Kachi Project towards final credit approval and is part of the overall strategy set in place by GKB Ventures Ltd and SD Capital Advisory Limited.

The investment banks will co-ordinate workstreams between lenders and third-party analysis on major project milestones, including, among others, due diligence, the forthcoming JORC compliant definitive feasibility study (DFS) and the Environmental and Social Impact Assessment (ESIA).

The amount of the proposed debt financing will be governed, among other things, by the outcomes of the DFS currently underway and the Export Credit Agencies assessments of all studies that the company on foot.

"We are pleased to partner with Citi and J.P. Morgan, who support Lake's commitment to sustainable extraction, and minimising our environmental footprint", Steve Promnitz, Lake's Managing Director, said.

"Together, we are contributing to a clean energy future that aligns with investors, debt providers, and off-takers requirements that new lithium projects adhere to strict ESG standards," said Mr Promnitz.


About Lake Resources NL

Lake ResourcesLake Resources NL (ASX:LKE)  (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

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Contact

Steve Promnitz
Managing Director
T: +61-2-9188-7864
steve@lakeresources.com.au

For media queries, please contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com



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