With these operational milestones complete, the focus of the company has shifted to the strategic delivery of Kachi.
In late November, Lake and Lilac Solutions ("Lilac"), its technology and operating partner of Kachi, engaged
Kachi plans to consider a range of funding alternatives, including, but not limited to, the introduction of a strategic partner, project finance, pre-payments from potential customers, and royalties. In particular, the strategic partner selection process ("the Process") will enable Kachi to widen the aperture of funding opportunities beyond the current Conditional Framework Agreements. This approach will allow Kachi to better optimize the economics of its offtake, in accordance with what has been seen in the market over the past year.
The successful selection and onboarding of a potential partner is an essential cornerstone to the development of Kachi, and Lake is committed to executing a thorough and prudent process, which is expected to conclude in the second half of 2024.
Aligning Developmental Timelines to Strategic Partner Selection Process
As announced in the ASX announcement dated
The second phase of the Process will then focus on a select pool of qualified potential partners as the Company moves towards identifying a potential strategic partner.
The Company expects the Process will conclude in the second half of the year (2H CY24), with final investment decision ("FID") to follow approximately nine to twelve months thereafter (CY25), which may delay the previous target date for FID. Additionally, the timeline for awarding the Front-End Engineering Design ("FEED"), independent power producer ("IPP") and other tenders may also be impacted by the timing and outcome of the Process, given that the type of strategic partner ultimately selected could influence these decisions.
*To view the full half-year report, please visit:
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About
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.
Contact:
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com
Global:
SVP, Investor Relations
karen.greene@lakeresources.com.au
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