Proactiveinvestors Australia Lake Resources NL https://www.proactiveinvestors.com.au Proactiveinvestors Australia Lake Resources NL RSS feed en Wed, 26 Jun 2019 10:24:18 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Lake Resources shares rise after confirming further high-grade lithium brine at Cauchari ]]> https://www.proactiveinvestors.com.au/companies/news/221927/lake-resources-shares-rise-after-confirming-further-high-grade-lithium-brine-at-cauchari-221927.html Lake Resources NL (ASX:LKE) has confirmed further high-grade lithium brine results from high flow brines at its Cauchari Lithium Brine Project in Argentina.

These ongoing brine results show continuity over a series of horizons with adjoining major projects, further increasing Lake’s confidence to replicate the success of nearby multi-billion dollar projects in the heart of the Lithium Triangle.

Cauchari Lithium Project, with adjoining Ganfeng / Lithium Americas project and Orocobre / Advantage Lithium project showing interpreted West Fan Unit and the targeted Lower Sand Unit

High grade conductive brines with lithium values up to 538 mg/L were returned from high flow brines at a depth of 261m with low Mg/Li ratios.

These results over a series of horizons are similar to lithium brine horizons announced from the adjoining preproduction area, showing continuity with Ganfeng/Lithium Americas (LAC) and the Advantage Lithium (AAL)/ Orocobre joint venture that are attracting significant corporate transactions.

Lake is clearly drilling in the same basin with similar brines, with even better results anticipated at depth.

Foraco diamond drill rig at Cauchari

Lake managing director Steve Promnitz said: “Lake is on track to record a major discovery here at Cauchari, with results showing continuity of lithium brines from the major projects located nearby that are currently proceeding towards production.

“As we advance towards the target depth, these results auger well for improving success at depth, and later at the Olaroz project, where the company has a 30 kilometre belt as an extension to the adjoining production area.

“Cauchari is rapidly gaining momentum as a highly valuable project for Lake, adding to our portfolio of 100% owned projects in the heart of the Lithium Triangle, including Olaroz and the world-class Kachi project.

“With talks progressing with potential development partners, we are in an excellent position to deliver increased value for shareholders.”

Target is a lithium-rich sand horizon

These are preliminary results and larger samples will be collected once the hole is completed.

The diamond drill rig is now below 290 metres, although drilling has been challenging requiring more time due to high fluid pressures.

The target is a sand horizon estimated between 350-450 metres which has recorded higher lithium values and fluid flows in the adjoining project.

The latest results follow increased investor support for Lake, with the company recently attracting about $2.7 million in new funding from offshore and local sophisticated and professional investors.

READ: Lake Resources upsized $2.7 million placement to accelerate lithium drilling

These funds will allow for an acceleration of drilling at Cauchari, to be followed by drilling at Lake’s equally prospective Olaroz project.

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Wed, 12 Jun 2019 11:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221927/lake-resources-shares-rise-after-confirming-further-high-grade-lithium-brine-at-cauchari-221927.html
<![CDATA[Media files - Lake Resources focuses on low-cost lithium development with Argentina projects ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13700/lake-resources-focuses-on-low-cost-lithium-development-with-argentina-projects-13700.html Tue, 11 Jun 2019 21:45:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13700/lake-resources-focuses-on-low-cost-lithium-development-with-argentina-projects-13700.html <![CDATA[News - Lake Resources upsized $2.7 million placement to accelerate lithium drilling ]]> https://www.proactiveinvestors.com.au/companies/news/221838/lake-resources-upsized-27-million-placement-to-accelerate-lithium-drilling-221838.html Lake Resources N.L. (ASX:LKE) has received a vote of confidence from sophisticated and professional investors for its Argentine lithium strategy with a private placement upsized to $2.7 million.

Commitments have been received to increase the placement which will see 30 million ordinary shares placed at 9 cents per share to offshore and local investors.

Every two new shares also have one attaching option exercisable at 10 cents per share and expiring in July 2021.

Focus on Lithium Triangle

Lake Resources is focused on developing three 100%-owned lithium brine projects and hard rock project in the Lithium Triangle within Argentina - Kachi, Olaroz-Cauchari and Paso.

The company’s managing director Steve Promnitz has welcomed the new investment.

“Lake is delighted with the support from both new and existing shareholders, particularly given current volatile market conditions,” he said.

“These new funds will be crucial in accelerating drilling at our 100%-owned Cauchari Lithium Brine Project in Argentina, following which we plan to immediately commence drilling at the equally prospective Olaroz project.”

READ: Lake Resources raises $1 million in placement for Argentinian lithium brine projects

Funds will also be used for the PFS and pilot plant at Kachi and for additional working capital.

Lake holds one of the largest lithium tenement packages in Argentina, comprising about 200,000 hectares, secured in 2016 prior to a significant ‘rush’ by major companies.

These holdings provide the potential to provide consistent security of supply demanded by battery makers and electric vehicle manufacturers.

Lake’s drill operations in relation to Advantage Lithium/Orocobre & Gangfeng/Lithium Americas leases.

The new shares will be allotted today with funding to accelerate drilling at the Cauchari and Olaroz projects in the heart of the Lithium Triangle.

Drilling results due

Further results are due this week from conductive brines at Cauchari with high fluid flows intercepted at a depth of 261 metres.

Recent results included high lithium values of up to 480 mg/L from 186 metres depth.

Adjacent to lithium projects

The results mirror similar brine horizons in the upper sections of drill holes reported from the adjoining pre-production area of Ganfeng/Lithium Americas Corp (NYSE:LAC) and Advantage Lithium Corp (CVE:AAL)/Orocobre Limited (ASX:ORE) joint venture.

Lake is drilling in the same basin with similar brines and expects to receive better results at depth.

The current hole at Cauchari is targeting a sand horizon between 350 and 450 metres, which has recorded higher lithium values and fluid flows in the adjoining project.

Cauchari project with adjoining Ganfeng/Lithium Americas resource and Orocobre/Advantage Lithium resource.

Lake’s drilling aims to unlock value from the rapidly emerging project, immediately adjacent to the world-class brine project in pre-production, about 500 metres from the Ganfeng/Lithium Americas Cauchari project.

“Exciting times”

Promnitz added: “Lake has proven that the same sand horizons in our 100%-owned leases extend from what is the largest defined lithium brine resource on the planet just around 350 metres from our drill hole.

“We look forward to reporting conclusive first assays next week and more information of flow rates.

“These are exciting times in Lake’s development and we anticipate further progress at our Cauchari and Olaroz projects, adding to the top 10 world-class brine resource already defined at our flagship Kachi project.”

Drilling at Kachi has produced a maiden indicated and inferred resource of 4.4 million tonnes LCE within an 8-17 million tonnes LCE exploration target grading in the range of 310 mg/L to 210 mg/L lithium.

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Tue, 11 Jun 2019 13:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221838/lake-resources-upsized-27-million-placement-to-accelerate-lithium-drilling-221838.html
<![CDATA[News - Lake Resources raises $1 million in placement for Argentinian lithium brine projects ]]> https://www.proactiveinvestors.com.au/companies/news/218205/lake-resources-raises-1-million-in-placement-for-argentinian-lithium-brine-projects-218205.html Lake Resources NL (ASX:LKE) has secured commitments to raise $1 million before costs in a private placement to sophisticated and professional investors for further drilling at its Cauchari Lithium Brine Project in Argentina.

Under the placement, the company will issue about 20 million new fully paid ordinary shares at 5 cents per share.

Funds will also be used to help fund a pre-feasibility study at the Kachi Lithium Project, also in Argentina, as well as for additional working capital.

READ: Lake Resources confirms potential for low-cost, high-recovery lithium production at Kachi

Lake managing director Steve Promnitz said: “Lake welcomes new and current investors and thanks them for their support.

“Ganfeng Lithium, the number two producer, has just spent $160 million to increase its holding to 50% of Cauchari with Lithium Americas and then signed a 10-year lithium supply deal with Volkswagen for EV batteries.

“Lake is drilling in the same basin 400 metres from the production area of Ganfeng at Cauchari and we are keen to get the new rig going.”

After drilling at Cauchari, the company intends to move the rig to the nearby Olaroz prospect.

Shares in Lake Resources last traded at 5.9 cents.

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Tue, 09 Apr 2019 16:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218205/lake-resources-raises-1-million-in-placement-for-argentinian-lithium-brine-projects-218205.html
<![CDATA[News - Lake Resources confirms potential for low-cost, high-recovery lithium production at Kachi ]]> https://www.proactiveinvestors.com.au/companies/news/210831/lake-resources-confirms-potential-for-low-cost-high-recovery-lithium-production-at-kachi-210831.html Lake Resources NL (ASX:LKE) has received positive results from the phase-one engineering study completed at its Kachi Lithium Brine Project in Argentina.

The study results show potential for low-cost lithium production and confirmed high lithium recoveries of 85-90% from multiple brine samples, with lithium concentrations greater than 25,000 milligram-per-litre produced from about 300 milligram-per-litre of lithium brine.

The study was undertaken by California-based Lilac Solutions Inc which is in the process of providing a detailed proposal for an on-site pilot pant in 2019 as part of Kachi’s pre-feasibility study (PFS).

Lake intends the plant to be a precursor to a full-scale commercial project offering rapid, low-cost production with low environmental impact.

READ: Lake Resources expands its portfolio to 200,000 hectares of lithium leases in Argentina

Lake managing director Steve Promnitz said the results supported the company’s plans for the rapid development of a new mine, as well as tapping into growing global demand for lithium on the back of the world’s clean energy revolution in car and battery technology.

Promnitz said: “Lilac’s proprietary extraction process could put Lake ahead of rival projects in terms of cost and recovery rate, giving Kachi a significant boost in terms of profitability, as well as minimising its environmental impact.

“Increased grade through the enhancement process indicates that a 300 milligram-per-litre lithium brine could produce lithium carbonate or lithium chloride products.”

READ: Lake Resources advances drilling at Cauchari Lithium Brine Project in Argentina

Metallurgical recovery results from Lilac’s study compare favourably with conventional brine operations in South America which have typical lithium recoveries below 50%.

These operations also come with a lengthy 9-24 month waiting period for evaporation to produce a suitable lithium brine concentrate for processing.

Due to the levels of lithium concentrated produced, together with evaporative dewatering, Lake can potentially use the Lilac process with conventional reverse osmosis and further evaporative dewatering to commercially produce similar concentrations of lithium.

Battery-grade lithium carbonate products can then be produced in downstream processing using conventional purification technologies.

The study showed the process offers potential for globally-competitive production costs, estimated to be US$2,600 per tonne.

Lithium carbonate exported from Chile and Argentina currently sells for US$13,500-$14,372 per tonne, according to Benchmark Mineral Intelligence.

READ: Lake Resources exercises option over large pegmatite lithium prospect in Argentina

Promnitz added: “Combining Lake’s scale and project experience with Lilac’s technology and process expertise is expected to enable a rapid path to low-cost commercial production of lithium carbonate from the Kachi resource.

“Together with our other lithium projects in Argentina, Lake is in position for major advances in 2019, generating potential new jobs for the local community and wealth for shareholders.”

Lake is developing three lithium brine projects and one hard rock lithium project in Argentina, all of which are 100% owned.

The leases are within Argentina’s ‘lithium triangle’, where half of the world’s lithium is produced.

Lake’s large tenement package of about 200,000 hectares gives it the potential to provide a consistent and secure supply of lithium products demanded by battery makers and electric vehicle manufacturers.

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Sun, 09 Dec 2018 22:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210831/lake-resources-confirms-potential-for-low-cost-high-recovery-lithium-production-at-kachi-210831.html
<![CDATA[News - Lake Resources expands its portfolio to 200,000+ hectares of lithium leases in Argentina ]]> https://www.proactiveinvestors.com.au/companies/news/208693/lake-resources-expands-its-portfolio-to-200000-hectares-of-lithium-leases-in-argentina-208693.html Lake Resources NL (ASX:LKE) has applied for more mining leases near its 100% owned Kachi lithium brine project, increasing the project area to 69,000 hectares.

Lake now holds over 200,000 hectares of lithium leases in Argentina, one of the largest listed lithium lease holdings.

The maiden exploration target released over the Kachi Project, which was only drilled for the first time a year ago, shows potential for 8 to 17 million tonnes of lithium carbonate equivalent (LCE) over an equivalent area of 20 kilometres x 15 kilometres.

$LKE Managing Director Steve Promnitz commented on drilling activities at Kachi Lithium Brine Project in Catamarca Province:https://t.co/c6vrFPRFks#Kachi #lithium #brine #drilling #exploration #Argentina #investing #news #ASX pic.twitter.com/VNEd0O2Gds

— Lake Resources (@lake_resources) October 23, 2018

The company has partnered with Lilac Solutions to advance a rapid, low cost method for direct extraction of lithium from Kachi brines.

The process aims to enhance the grade, reduce the lead time to production, lower operating costs and significantly increase recoveries.

Lake Resources Managing Director Steve Promnitz commented about high lithium recoveries at Kachi using @Lilac_Solutions process:https://t.co/RexCbrq7Db#Kachi #lithium #brine #exploration #Argentina #investing #news $LKE #ASX pic.twitter.com/xvNQchUG8R

— Lake Resources (@lake_resources) October 30, 2018

Lake managing director Steve Promnitz said: “The massive potential of this lithium brine is impressive.

“To use the analogy of the contained fluid in Sydney Harbour, this is equivalent to 25 times that volume.

“The anticipated resource statement will only cover a small portion of this total potential.”

READ: Lake Resources advances drilling at Cauchari Lithium Brine Project in Argentina

Recent drilling at Kachi intersected sand and silts lithologies which are dominated by sandy sediments.

The results indicate that lithium concentration in excess of 300 mg/litre lithium occupy a large portion of the salt lake area.

Drilling is currently progressing at Kachi with a rotary hole and a large diameter deep screen.

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Wed, 07 Nov 2018 15:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208693/lake-resources-expands-its-portfolio-to-200000-hectares-of-lithium-leases-in-argentina-208693.html
<![CDATA[News - Lake Resources advances drilling at Cauchari Lithium Brine Project in Argentina ]]> https://www.proactiveinvestors.com.au/companies/news/208376/lake-resources-advances-drilling-at-cauchari-lithium-brine-project-in-argentina-208376.html Lake Resources NL (ASX:LKE) has progressed drilling at its Cauchari Lithium Brine Project in Argentina, with two drill rigs now on site working on the four-hole, 1,500 metre program.

The drilling is expected to support geophysics work which has shown a likely extension to the high-grade lithium brines of adjacent properties.

Cauchari’s project area borders the Ganfeng Lithium and Lithium Americas (TSX:LAC) joint venture Mariana Lithium-Potash Project and the Orocobre Limited (ASX:ORE) and Advantage Lithium Corp (CVE:AAL) joint venture Cauchari Project.

Third-party drill results close to Cauchari’s lease boundary include 600-705 milligram per litre of lithium with high flow rates.

READ: Lake Resources exercises option over large pegmatite lithium prospect in Argentina

A rotary drill rig is drilling 100-metre pre-collar holes through gravel to fast-track diamond drilling into the targeted brines.

The diamond drill rig has advanced on the first drill hole and is currently at about 110 metres.

The rotary rig has completed the 100-metre depth pre-collar at the second drill hole, which will assist the diamond rig through the upper gravels into the brine sequence.

The two holes are 2,500 metres apart.

READ: Lake Resources’ drilling at Kachi project reinforces scale and quality of lithium brines

Lake has also established an unsecured $500,000 loan facility at a commercial interest rate with a current shareholder.

The facility will be available immediately for short-term funding of exploration activities including Cauchari drilling.

The Argentine-focused lithium explorer is in discussions with a number of potential strategic investors to advance its projects through pre-feasibility and feasibility stages.

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Thu, 01 Nov 2018 22:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208376/lake-resources-advances-drilling-at-cauchari-lithium-brine-project-in-argentina-208376.html
<![CDATA[News - Lake Resources exercises option over large pegmatite lithium prospect in Argentina ]]> https://www.proactiveinvestors.com.au/companies/news/205603/lake-resources-exercises-option-over-large-pegmatite-lithium-prospect-in-argentina-205603.html Lake Resources NL (ASX:LKE) has exercised an option over a large belt of outcropping pegmatites in Argentina’s Catamarca province that are likely to host lithium mineralisation as spodumene.

The decision to acquire 100% of the 70,000-hectare project in the Ancasti area was taken after the company completed a field program.

This reinforced the view that the 150-kilometre-long belt hosts significant lithium mineralisation as spodumene in large pegmatite swarms.

READ: Lake Resources' drilling at Kachi project reinforces scale and quality of lithium brines

Lake’s managing director Steve Promnitz said: “The pegmatite project in Catamarca is an enormous target with lots of exploration upside.

“We secured the project because the geology is very compelling and there is a history of production in the area.

“Interest from third parties”

“We have had considerable interest from third parties, both foreign and local Argentine companies, wanting to jointly explore Catamarca and we’ll assess these carefully.”

Shares increased 12% to an intra-day high of 9.4 cents.

An agreement was signed by Lake with Argentine company Petra Energy SA in early 2017 over an area of exploration lease applications.

Lake will issue 9 million ordinary shares to the vendors to acquire 100% of the local company and the project.

There will be 50% of these shares escrowed for six months.

Recent field work in the Ancasti area has resulted in new exploration models being developed which clearly show potential for the belt to host large-scale deposits.

Previously, coarse-grained spodumene crystals 30-70 centimetres long had been identified in a number of locations.

Further work planned

Further exploration activities will be carried out once the transaction is completed.

Field-based XRF analysis to vector in on potential new targets will be undertaken first, followed by trenching and auger sampling with drill locations to be defined by these results.

Promnitz said: “Our in-country exploration team expects to commence work very soon on sampling and this will not inhibit progress being made at Kachi and Cauchari which are both on track and progressing to plan.”

Lake is focused on developing its three lithium brine projects and one 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.

These three brine projects, Kachi, Olaroz/Cauchari and Paso, are adjacent to major world-class brine projects either in production or being developed in the highly prospective Jujuy and Catamarca provinces.

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Tue, 25 Sep 2018 16:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205603/lake-resources-exercises-option-over-large-pegmatite-lithium-prospect-in-argentina-205603.html
<![CDATA[News - Lake Resources' drilling at Kachi project reinforces scale and quality of lithium brines ]]> https://www.proactiveinvestors.com.au/companies/news/202546/lake-resources-drilling-at-kachi-project-reinforces-scale-and-quality-of-lithium-brines-202546.html Lake Resources NL (ASX:LKE) has extended drilling activities at its Kachi Lithium Brine Project in Argentina, with results so far indicating consistent brine chemistry.

The drill program is advancing towards an initial resource estimate, anticipated to be complete in October, and has one further hole planned.

Similar geochemistry to major projects

Recent drilling returned results between 250-276 milligram per litre lithium over 42 metres, with the best assay to date 306 milligram per litre over 239 metres.

Lithium brine is present in sandy sediments from near surface to over 400 metres in depth, in over 14 rotary and diamond drill holes.

Analytical results in the best drill hole display encouraging densities with a favourable magnesium:lithium ratio of 4.3.

This ratio is similar to that of other large Argentine projects operated by Galaxy Resources Ltd (ASX:GXY) and Neo Lithium Corporation (CVE:NLC).

The area around this hole is a key target for ongoing investigation as it potentially has very deep lake sediments.

Resource estimate work ongoing

Drilling has intersected different interlayered lithologies which are dominated by sandy sediments.

Samples have been collected for porosity tests, with these to be included in the upcoming resource estimate along with systematic brine analyses.

The Kachi project covers over 50,000 hectares of mining leases and is owned by Lake’s Argentine subsidiary, Morena del Valle Minerals SA.

These leases are held over the centre of the known Kachi salt lake in the deepest part of the basin.

Surface sampling had initially revealed positive lithium results in brines, which has been supported by positive results from drilling and geophysical programs.

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Thu, 09 Aug 2018 01:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202546/lake-resources-drilling-at-kachi-project-reinforces-scale-and-quality-of-lithium-brines-202546.html
<![CDATA[News - Lake Resources NL samples elevated lithium results in Argentina ]]> https://www.proactiveinvestors.com.au/companies/news/172677/lake-resources-nl-samples-elevated-lithium-results-in-argentina-172677.html Lake Resources NL (ASX:LKE) has received elevated results of up to 322 mg/litre lithium from initial surface auger samples at the Kachi Lithium Brine Project in Catamarca, Argentina.

An aggressive exploration program had recently commenced with a systematic brine sampling program over the lithium brine salt lakes at the Kachi Project.

The sampling over the salt lakes covered about 20,000 hectares within the current lake leases of almost 50,000 hectares.

40 surface samples have been prioritised for analysis.

The best initial results from the program include 322 mg/litre lithium and 209 mg/litre lithium.

Lake is anticipating better results towards the centre of the salt lake when results are available for the remaining samples.

The exploration program will continue with ground based electrical geophysics followed by drilling.

Lake has already completed systematic auger and pit sampling at 500 metre spaced points.

The geophysics and sampling is expected to provide effective targeting for the drilling program to follow.

Lake successfully completed a share placement in December 2016 with $1.05 million raised, at $0.065 per share to sophisticated and professional investors.

The company holds cash of $1.16 million as at 31 December 2016 with no debt.

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Mon, 06 Feb 2017 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172677/lake-resources-nl-samples-elevated-lithium-results-in-argentina-172677.html
<![CDATA[News - Lake Resources NL's shares in pre-open pending capital raising details ]]> https://www.proactiveinvestors.com.au/companies/news/170007/lake-resources-nl-s-shares-in-pre-open-pending-capital-raising-details-170007.html The halt will remain in place until the opening of trade on Thursday 8th December 2016, or earlier if an announcement is made to the market.

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Tue, 06 Dec 2016 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170007/lake-resources-nl-s-shares-in-pre-open-pending-capital-raising-details-170007.html
<![CDATA[News - Lake Resources NL moves into the lithium triangle of Argentina ]]> https://www.proactiveinvestors.com.au/companies/news/169642/lake-resources-nl-moves-into-the-lithium-triangle-of-argentina-169642.html A number of leases have recently been granted to enable exploration, following the company’s acquisition of lithium brine lease applications in Argentina.

The leases lie in the lithium triangle where the world’s largest and lowest cost production of lithium is located.

Leases have been granted to allow exploration in the Kachi Project area (9,000 hectares) in the Catamarca Province, with a series of adjoining leases anticipated for similar granting soon.

This area has been recently recognised as a potential lithium brine bearing basin.

The largest company in the lithium sector, Albemarle Corporation (NYSE:ALB), recently secured leases over the basin immediately to the west of the area.

Lake Resources’ exploration program will commences immediately and will extend into 2017 with grid sampling followed by geophysics and drilling aimed for early in the new year.

The company’s share price has increased by about 129% since June 2016, last trading at $0.08.

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Tue, 29 Nov 2016 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169642/lake-resources-nl-moves-into-the-lithium-triangle-of-argentina-169642.html
<![CDATA[News - Lake Resources NL among ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/157687/lake-resources-nl-among-asx-gainers-intra-day-68816.html Wednesday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Lake Resources NL LKE $0.025 127.27% 343,201 Lindian Resources Ltd LIN $0.002 100% 4,990,024 Lakes Oil NL LKO $0.002 100% 350,000 Winmar Resources Ltd WFE $0.002 100% 491,000 Nickelore Ltd NIO $0.011 37.50% 515,000 GB Energy Ltd GBX $0.005 25% 17,568,453 IMX Resources Ltd IXR $0.005 25% 3,000 Mount Magnet South Ltd MUM $0.005 25% 440,000 Pancontinental Oil & Gas NL PCL $0.005 25% 3,730,000 Sprintex Ltd SIX $0.250 25% 123,267

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 25 May 2016 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/157687/lake-resources-nl-among-asx-gainers-intra-day-68816.html
<![CDATA[News - Lake Resources to raise A$1.76m through non renounceable issue ]]> https://www.proactiveinvestors.com.au/companies/news/157686/lake-resources-to-raise-a176m-through-non-renounceable-issue-10821.html Lake Resources (ASX: LKE) will conduct a partially underwritten non renounceable offer at an issue price of $0.05 to raise up to $1,758,076 on the basis of one share for every share held on the record date of Monday 25 October, 2010.

Directors will reserve the right to place the shortfall at their discretion within three months of the closing date, if there is a shortfall in the take up of entitlements.

The directors though can not have any of the potential shortfall placed to themselves, or any of their associates.

Lake Resources does not expect that any change in the percentage holding will have any material consequences on the control of the company.

The offer opens on 8 November 2010, and closes on the 8 December 2010.

Lake Resources does not place a high priority on becoming a miner, preferring, instead, to retain royalty and net profits interests in its discoveries and to remain focussed on its core business of mineral exploration.

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Thu, 14 Oct 2010 11:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/157686/lake-resources-to-raise-a176m-through-non-renounceable-issue-10821.html