UKEF Site Visit, page-49

The only solid details I have are Lake Annual Report 2022 pages 36 and 37.

You may also find something in the "Half yearly Report and Accounts" dated 15 MARCH 2023.

Lake may have mislead investors where it said in its 2022 Annual Report, “It has been confirmed that the project will be funded 70% by international credit agencies sourced by SD Capital and GKB Ventures, with the remainder being provided by equity.”

There have been no ASX announcements to this effect, which seems surprising in light of how significant the sourcing of funding is to the project.

Stuie's 5 million performance rights which are dependent on signing agreements to finance the Kachi project are now considered to have 100% probability of being achieved.

Unless there have been some recent undisclosed developments, Lake is aware the financing from UKEF is not “confirmed” and yet, despite this, they have made provision for Stuie to receive the performance rights that have now vested.




IMO DYOR