Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-75

I agree.

The fact they haven't even started the wells + reinjection testing is ludicrous. They have zero idea about how many wells they need, and they have zero plan for reinjection. At this late stage.

To make things worse, the volume of output of the pilot is WAY below its designed parameters. Couple that with the fact the pilot is only approx 15% of the flowsheet, and I just don't see debt financers being interested in this thing.

LKE resources have ZERO lithium experience on the board. They are using a 3rd party process that has zero commercial production run by a PhD freshie that has ZERO experience bringing new chemical plants to market. Then you have the fact the 50ktpa plant is large for any commercial outfit, and is ludicrous for a new company to even consider. Scale up of 1250x from pilot to commercial (assuming the pilot hits capacity which it has failed to do) means scale up risk is high.

This thing has more red flags than a CCP party room