Ann: Lake Resources Update on Kachi Pilot Plant, page-40

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14/09/22

09:40

Post #: 63686752
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Originally posted by gassed: ↑

This is what we were told.
Key Commercial Terms of the Agreements between Lilac Solutions and Lake Resources:
Lilac can earn up to a 25 percent interest in Lake Resource’s Kachi Lithium Project in Argentina through
a shareholding in Lake’s subsidiary, Kachi Lithium Pty Ltd, which is the 100 percent indirect owner of
the Kachi Lithium Project), in the following stages:
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.
Other Key Terms:  Lilac will provide technology services and its proprietary ion-exchange materials for the life of
the project, subject to meeting the testing criteria and certain agreements being finalized and
entered into.  Lake will be the manager of the Kachi Project.  Lilac will appoint David Gelinas, Lilac’s CFO, as a director to Kachi Lithium Pty Ltd.  Both Lake and Lilac will have pre-emptive rights in respect of each other’s interests.  Once Lilac has earned its 25 percent interest, Lake and Lilac will contribute proportionately to
funding development of the Kachi Project. Conventional dilution clauses will apply in the case
of non-compliance.  Lake has certain buy back rights if Lilac does not meet agreed testing criteria or if an acceptable
services agreement cannot be agreed with Lilac within an agreed timeline.
Condition Precedent
The Pilot Project Agreement entered into with Lilac is subject to several conditions, including
obtainment of any necessary regulatory approvals.
SURELY those "agreed timelines" are written down in bold capitals and signed by both parties at that time?????

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Demo plant building was delayed and as a result the equipment was housed in Salta this is why Lilac claims the date should be on the 30th Nov and not the 30th Sept due to the lost time imho.

LKE Price at posting: $1.27 Sentiment: Buy Disclosure: Held
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