LKE 6.98% 4.0¢ lake resources n.l.

Is the bottom in?, page-950

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    Newby1,

    The reasoning behind the different reporting between Quarterlies is outlined in Section 7.6 of the current Quarterly....

    "The Company entered into a Controlled Placement Agreement (also referred to as an At-The-Market (ATM) facility) (the Agreement) in August 2018 with Acuity Capital Pty Ltd, which was later extended to 31 January 2023 and has been further extended to 31 January 2026. The Company has now utilised the facility to raise a total of $43.8 million and the remaining notional amount under the ATM is $206.2 million (the “Maximum Option Size”). However, the Maximum Option Size cannot be exercised in full if it requires the Company to issue more than the Maximum Option Shares. “Maximum Option Shares” is such number of the Company’s shares as are permitted to be issued: (i) without approval of the Company’s shareholders under Listing Rule 7.1 and 7.1A from time to time (i.e. the Company’s placement capacity); or (ii) where the Company has received shareholder approval at a meeting of its shareholders to issue in excess of that allowable placement capacity under Listing Rule 7.1 and 7.1A, the number of shares allowable in accordance with the approval obtained at that meeting."

    In short, the reported amount of $36,188k shown in the latest Quarterly as "Unused financing facilities available at quarter end" detailed in Section 7.5 is the amount available without further approval of the Shareholders. In previous Quarterly they reported the full amount remaining under the established ATM.
 
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