Ann: Lake and Lilac Announce Achievement of Milestones at Kachi, page-30

40,000 Litres.

Stage 1
Lilac will earn 10 percent on committing to fund at its cost the completion of testing of its technology for the Kachi project in accordance with an agreed timeline.

Stage 2
Lilac will earn a further 10 percent on satisfying all agreed testing criteria using the demonstration plant at the Kachi Project in accordance with an agreed timeline.

Stage 3
Lilac may earn a further five percent on refined lithium chemical product from Kachi achieving the highest agreed qualification standards with certain potential offtake partners.

Under the agreement, Lilac Solutions will contribute technology, engineering teams, and an on-site demonstration plant, earning in to a maximum 25 percent stake in Lake’s Kachi project based on performance; Lilac will be expected to fund its pro rata share of future development costs, currently estimated to be approximately US$50 million – aligning innovation, funding, development, and production.

This announcement :

Stage 1, Stage 2 tick.
The original $50M maybe doubles as it was based on 25ktpa??
Stage 3 through to end users/offtake partners would also qualify this with SK On & WMC Energy
SK On (10% at 20 day trading VWAP prior to 12/10/22)
WMC Energy (10% @ $1.20 - $120M).

Lilac doubling workforce.

Lake & Lilac, Dave & Dave have got this.