Lake Resources Ends quarter with $133m cash balance
- Lake Resource (LKE) ends the quarter with a cash balance of $133 million following an extensive drilling program at its Kachi lithium project in Argentina
- The funds will be used to continue progressing the project, after the company reported a 100 per cent boost to its mineral resource estimate
- The quarterly review also highlighted the signing of two offtake agreements with WMC Energy and SK On for up to 50,000 tonnes per annum of lithium carbonate from Kachi
- LakeResources says it will now work towards completing a definitive feasibility study for the project by mid-2023
- LakeResources is up 1.86 per cent, trading at 82 cents at 3:45 pm AEDT
