2021 and beyond, page-1930

Again, you are being selective in what you post - to aid your own narrative. It’s what you do - constantly.

I wouldn’t normally react by spending my valuable time to dig up the actual references to correct you (as I have a life).....but I’ll indulge you on this occasion to demonstrate a point.

In the announcement of 27/8/20 “Lake’s Lithium to be Tested in Batteries by Novonix Lab”:
It is stated “The first battery quality Lithium Carbonate samples are expected to be produced by Hazen within weeks.” I note here that Hazen is a third party so it would be difficult for Lake to control any slippage to the timeframes at Hazen’s end. Also note that the indicated timeline stated (weeks) is very open.

This announcement also states “The first batch of Lithium Carbonate will then be processed into NMC622 lithium-ion batteries by Novonix, which will take a minimum of four months, with the first results expected two months after the cathode material is produced.” Note that there is no date mentioned here - only the expected time to undertake the process, as the samples hadn’t been produced by Hazen at this point.

In the announcement of 26/11/20 “Lake’s High Purity Lithium Carbonate to Produce First Lithium Batteries at Novonix”:
It is stated “Clean Lithium developer Lake Resources NL is pleased to confirm that Hazen Research Inc (Hazen), has dispatched the first samples of Lake’s high purity 99.97% Lithium Carbonate, produced from Kachi brines, to Novonix Battery Technology Solutions in Nova Scotia, Canada for the production of NMC622 based Lithium-ion battery test cells.”

A delay possibly occurred at Hazen’s end whilst producing the samples. The number of weeks for Hazen to refine the process and produce the required samples seems to be approx. 12 weeks. Whether or not this is inside of the expectation by Lake or Hazen is unclear to us outside of those organisations. So clearly, NVX could not be in receipt of the samples by 1st October as you state in your post. The samples would have likely been received early to mid December considering COVID impacts on delivery - (after being dispatched very late November - as per announcement). Then there is the Christmas shutdown (where nothing happens) to consider as well. I would assume that there would need to be some continuous monitoring of the battery testing process and this would imply that the testing program may not have commenced before Christmas - other than any preparatory work and setting up. Regardless, this seems to have been taken into account judging by the dates detailed in this specific announcement of 26/11/20 as detailed in my next paragraph.

The announcement of 26/11/20 also states “Novonix program will be undertaken over four months with first results anticipated in February.” This is the first mention of dates related to results.

In the announcement of 25/1/21 “Quarterly Report Ending 31 December 2020”:
It is stated “Testing which will take a minimum of four months, with the first results anticipated in the March quarter 2021.”

The announcement outlining the preliminary results was in fact released on Tuesday 2/3/21. Results were likely to be received by Lake in the last week of February (as anticipated) and the announcement released after one clear workday on 2/3/21.

From looking at all of the above, there is support in my assumption that the testing by NVX didn’t start in ernest until early January 2021 and that this timing has been expected since November 2020 - as the dates published in the announcements from 26/11/20 concur with that.

First results were released as indicated in the earlier announcement of 26/11/20 - within one clear workday of February receipt.....presumably to allow drafting and approval of the announcement.

Four months from early January would be early May....next week....or possibly the week after.

I’d go so far as to say that there is no delay here worth talking about as the timelines are still, within reason (days) in line with earlier announcements from 26/11/20 where actual dates are first mentioned. It is all there in black and white for all to see.

P.S. I can’t wait to see the announcement coming out in the next couple of weeks - assuming all is still on track of course!