FinTechFunding

Lake Resources: Ends quarter with $133m cash balance

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
Previous article
iDenfy: Announced a new partnership with Finora Bank
Next article
Imugene: Progresses VAXINIA trial in December quarter
Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

You May Also Like

FinTech

NYSE Parent Invests $600M in Polymarket, Strengthening Market Position

This significant investment signals confidence in the future of predictive markets.Highlights: NYSE's parent company allocates $600M to Polymarket.Investment...
FinTech

Nexi Expands SEPA Direct Debit with Danish Banks, Enhancing Payments Integration

Nexi's collaboration with Danish banks aims to strengthen payment services across Europe.Highlights: Nexi partners with several Danish banks...
FinTech

Lloyds Confirms App Glitch Exposed Data of Almost Half a Million Customers

The significant data breach prompts concerns over customer privacy.Highlights: Lloyds Banking Group admits to a data breach affecting...
FinTech

Mastercard Restricts Sale of Nets Payments Unit Purchased for $3.2 Billion

Mastercard looks to divest its Nets payments segment as part of strategic realignment.Highlights: Mastercard is seeking to sell...