Ann: $2.5m At-the-Market Facility Raise, page-51

There is no argument that shareholders have been mislead mainly through not presenting relevant information. David Dickson rectified this through his review. We now know that power is a large problem but we also know that reinjection works and the DLE process works at a significant scale in the field. The share price was punished once the market became aware of the significant obstacles that the project faces these being the Capex blow out and the expensive power solution but the main hit to the share price was the reduction in lithium price from over $80 to under $12.
But we also know that the current price of lithium is suppressed by Chinese companies selling at a loss so that they can keep control of the battery industry. This will not last forever mainly due to the expected increase in demand and the political moves to develop batteries in the US and the EU. Lilac are continuing to develop their DLE tech which may also lower costs. Recently they announced improvements that may lower costs by 10%. If Kachi's costs are lowered by 10% then profitability will start with a 2 rather than a 3.
LKE just have to wait this out. The companies I think are in greater danger of liquidation are those with significant sunk production costs and a high debt level. LKE has no significant sunk cost and no debt. The upside for LKE is 3 fold. The price of lithium may recover, Lilac might reduce costs or Sorption might win the DLE race and Kachi gets developed using a cheaper form of DLE