Ann: Annual Report to shareholders, page-9

My out takes from the Chairman's review:

• The DFS is expected around the end of calendar 2022 and I am confident of a positive result for shareholders even though slightly delayed by test work and disruptions through 2022.
• TARGET 100 also includes Lake’s other 100 per cent owned projects in Argentina’s Jujuy Province, comprising the Olaroz, Cauchari and Paso projects. Lake will bring forward development of these projects by accelerating drilling and testing programs leading into anticipated additional feasibility studies (TARGET 100 has an aspirational goal of producing 100,000 tonnes per annum (tpa) of high purity lithium by 2030).
• Drilling commenced in February and is advancing at the Olaroz, Cauchari and Paso projects, with assay results pending.
• Subsequent to financial year-end, in October 2022Lake announced a conditional framework agreement(CFA) delivering strategic investments and offtake with Amsterdam-based WMC Energy, followed by a similar CFA with SK On, an affiliate of South Korea’s SK Group. These agreements cover up to 50,000 tpa of Kachi lithium production and provide in excess of A$350m of equity upon achieving a number of conditions precedent as we move towards FID, at which point your Company will be fully funded into production.
• With Lake now aligning operations to serve the critical North American supply chain, we were delighted to recently appoint a new CEO and Managing Director, David Dickson, to drive Lake’s transition towards production.
• Lake plans further new international appointments to the Board covering such areas as ESG, governance, finance and audit, as we strengthen our team for the next stage of development.

• A number of milestones lie ahead for Lake in fiscal 2022, including first production from the demonstration plant at Kachi, the successful completion of the DFS, an Environmental and Social Impact Assessment (ESIA) and the delivery of our first ever Sustainability Report.