Ann: Appendix 3Y S Crow, page-11

@Mozza01 , let me jog your memory...


Lake made a misleading statement to it's investors where it said in its 2022 Annual Report:

“It has been confirmed that the project will be funded 70% by international credit agencies sourced by SD Capital and GKB Ventures, with the remainder being provided by equity.” (see LKE Ann dated 27 OCT 2022)

There had been no ASX announcements to this effect, which seems surprising in light of how significant the sourcing of funding is to the project. Chairman Stuart Crow's 5 million performance rights which were dependent on signing agreements to finance the Kachi project are now considered to have 100% probability of being achieved.

Lake was aware the financing from UKEF is not “confirmed” and yet, despite this, they made provision for Mr Crow to receive the performance rights that had now vested. (See LKE annual report dated 27 OCT 2022 - see page 36, also page 94 - notes to financial 19 (a) (ii) first row in table).





Perhaps that jogged your memory@Mozza01

IMO DYOR