- Lake Resources has secured US$25 million in debt funding through a London-based financial advisor
- SD Capital Advisory will seek the funds for work at Lake’s Kachi and Cauchari Lithium Brine Projects in Argentina
- Lake’s projects are found in the world-renowned Lithium Triangle
- Shares in Lake Resources saw a small spike today, but have since settled to trade for four cents each
Aussie lithium explorer Lake Resources has appointed a London-based financial advisor to lock in US$25 million of debt funding for work at its Argentinian lithium projects.
SD Capital Advisory is an independent financial advisory firm with a specific focus on emerging markets. The firm will focus on obtaining debt finance for activity at Lake’s Kachi and Cauchari Lithium Brine Projects.
More specifically, the funding will go towards pre-production, definitive feasibility studies, and initial production of lithium products from the projects.
Lake Managing Director Steve Promnitz said the appointment of the experienced project and debt finance advisor gives the company improved confidence in the success of its Argentinian mines.
“Lake’s project development plans are now rapidly advancing and sourcing the necessary project funding is a major value-adding step as we look to complete initial production modules after the pilot plant results become known,” Steve said.
The appointment of SD Capital comes soon after Lake completed the first pilot plant module for the Kachi project in September this year.
According to the company, it is now planning to produce high quality, low purity product able to attract premium prices.
Lake’s projects are located in the heart of the Lithium Triangle — a world-renowned province in Argentina which holds over half of the world’s lithium.
Lake has the largest lithium lease holding in Argentina. Its wholly-owned and operated acreage covers close to 2000 square kilometres in this high profile province.
Lake shares saw a small spike today but have since settled to trade for four cents each — the same as yesterday’s closing price. Lake’s make cap is valued at $20.94 million.