Lake Resources NL (ASX:LKE) announced an operational update regarding the Company's plan to optimize its financial runway and maximise the value of the Kachi project (?Kachi?). ?We continue to engage with interested parties as part of the strategic partnering process for Kachi,? said David Dickson, Managing Director and Chief Executive Officer of Lake Resources.

?We, along with industry analysts across the sector, see a structural deficit of battery-grade lithium in the next five years. Because of that, we are taking all necessary actions to secure our financial flexibility, ensuring we maximise value for our shareholders from the Goldman led strategic process.? Lake is managing an ongoing process for the potential sale of non-core assets and lithium tenements located in Jujuy and Catamarca Provinces; namely Paso de Jama, Olaroz, Cauchari and Ancasti.

?These assets, while non-core to Lake's strategy, are strategically located within the Lithium Triangle and offer exploration and development potential in close proximity to other known lithium resources,? Mr. Dickson said. ?In order to focus our efforts on making Kachi a success, we believe the timing is right for marketing the sale of these assets, which is part of our plan to optimise the Company's financial runway.

This supports the work we have done over the past 18 months and the successful completion of the Definitive Feasibility Study showing that Kachi is a globally significant, tier-one project?.