UKEF complained to Lake within days of the company making an ASX announcement. Lake received notification from UKEF of an EOI on July 23, 2021 and madean announcement to the ASX on August, 11 2021. UKEF complained to Lakeon August, 13 objecting to Lake's use of the term “Strong” to describe the EOI.
UKEF also objected to the term “finance” being used for Lake’s proposed expandedproduction. It was also explicit in saying that the EOI was not a “vote ofconfidence” in the “ESG benefits at Kachi” as they are yet to be evaluated. Pressand research reports subsequently quoted “Strong Expression of Interest” whendiscussing the announcement.
On the same day as the ASX announcement, Stephen Promnitz gave an interviewto Reuters. In that interview he said “They [UKEF] really liked the ESG benefitthat was attached to this process of producing lithium”. In response UKEF requested“Lake should refrain from inferring a statement from UKEF”. The statementmade by Mr Promnitz to Reuters was factually wrong, as the UKEF explicitlystated that it has yet to evaluate the ESG benefits.
IMO DYOR
LKE Price at posting:
44.5¢ Sentiment: Sell Disclosure: Not Held
