logo-loader

Lake Resources in trading halt with capital raising news pending

Last updated: 13:33 24 Aug 2020 AEST, First published: 13:08 24 Aug 2020 AEST

Lake Resources NL - Lake Resources in trading halt regarding capital raising
Lake Resources' projects are in a prime location within South America's Lithium Triangle

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) has been granted a trading halt by the ASX with a material capital raising announcement upcoming.

The trading halt will remain in place until the beginning of ASX trading on Wednesday, August 26, or when an announcement is released to the market, whichever occurs earliest.

Shares in the company which has a strategy of producing 'clean' lithium products last traded at 3.5 cents and LKE has a market cap of approximately $23.5 million.

Larger samples to be produced

Lake has recently appointed Colorado-based independent assay laboratory Hazen Research Inc to produce larger samples of its 'clean' battery-quality lithium concentrate for supply to potential off-takers and other interested parties.

This will be done using the efficient, disruptive clean technology developed by Lake's technology partner Lilac Solutions for brine from the company's flagship Kachi project in Argentina.

Lilac’s lithium extraction pilot plant module has processed Kachi brine with high recoveries to produce lithium chloride, which is suitable for processing into battery-grade lithium carbonate using conventional carbonate processing methods.

99.9% pure lithium carbonate has been produced by Lilac from this lithium chloride using the conventional lithium carbonate process. 

Lake Resources details lithium expansion strategy in Argentina

Lake Resources NL (ASX:LKE, OTCQB:LLKKF)'s Steve Promnitz says they've kicked off an expansion and integration strategy to fast-track its portfolio of assets in Argentina to deliver the TARGET 100 Program. It's aiming to produce 100,000 tonnes of high purity lithium annually to market by 2030.

on 15/2/22