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Lake Resources (ASX:LKE) - Managing Director, Steve Promnitz - The Market Herald
Managing Director, Steve Promnitz
Source: YouTube (InvestorStream)
  • Shares in Lake Resources (LKE) were up more than 14 per cent yesterday following a progress report from its Colorado-based partner Hazen Research
  • Hazen is currently in the process of producing larger samples of battery-quality lithium carbonate for supply to potential off-take parties
  • The assay laboratory is now in the bulk precipitation phase, which is one of the final stages in producing the samples
  • Once complete, initial samples will be sent to Novonix Limited under an agreement dated August 27, 2020
  • Lake Resources closed up 14.63 per cent in the green for 4.7 cents per share

Shares in Lake Resources NL (LKE) were up more than 14 per cent yesterday following a progress report from its Colorado-based partner Hazen Research.

Pursuant to an announcement dated August 6, 2020, independent assay laboratory Hazen has been tasked with producing larger samples of battery-quality lithium carbonate for supply to potential off-takers and other interested parties.

This uses concentrated lithium chloride from Lilac Solution's extraction pilot plant module in California, which in turn uses brines from Lake Resources' Kachi Lithium Brine Project in Argentina.

According to yesterday's update, Hazen is currently in the bulk precipitation phase, which is one of the final stages in the production process, with initial samples expected in the next 15 to 18 days.

The first of these larger samples will be sent to ASX-listed Novonix Limited, which will use the lithium carbonate to produce NMC622-based lithium-ion battery test cells.

Novonix is in the process of developing "million mile" battery technologies, and has existing relationships with leading brands across 15 countries, including Panasonic, Samsung, Apple, Bosch, Honda and Dyson.

Steve Promnitz, Managing Director of Lake Resources, said it's exciting to be so close to delivering battery-quality lithium carbonate from such a well-regarded lab as Hazen.

"This final product will then be tested in batteries using the cutting-edge battery testing technologies of Novonix," he said.

"This will demonstrate a de-risked new technology, support the high purity nature of Lake’s product and reinforce the ESG benefits of a more sustainable, responsibly sourced product for the latest batteries," he added.

Steve also cited developments at the company's Kachi Project, noting a spike in recent interest and "a number of converging value-accretive events" that are expected to demonstrate the robustness of the project.

Lake Resources closed up 14.63 per cent in the green for 4.7 cents per share.


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