Level-headed, blunt assessment of Lake Resources, page-151

All this time, Lake is sitting on an astronomical amount of money and whining about the future lithium deficit. Yet, they fail to de-risk their other projects in Cauchari, Olaroz, and Paso. Why didn't they plan ahead and update the market about these other resources? They have all the means in the world to do so. As for Kachi, the project is at a standstill as their technological partner failed to provide more guarantees and numbers to update the market and release a final DFS. It also comes to my attention that despite the low lithium grades and the unfavorable location on the Kachi salt flat, Lake decided to nominate the Kachi project as their flagship. That is a little suspicious to me. I think we can all agree that Lake has a lot of cash, but they don't seem to do the work on the field for these three other projects and take advantage of the fact that lithium is immensely popular with investors.

My questions are:

• Is Lake simply lazy because they have 100 million in the bank and they feel very comfortable using these funds for expenses such as salaries and administration?

• Who are these shareholders that signed up for this?