The financial planning appears to be well considered but may...

The financial planning appears to be well considered but may have relied on a better market response (options below)

Extract from 2018 Annual Report

"On 31 July 2018, the Company entered into a Controlled Placement Agreement (CPA) with Acuity Capital. The CPAprovides LKE with up to $4.5 million of standby equity capital over the coming 29 month period. Importantly, LKE retainsfull control of all aspects the placement process: having sole discretion as to whether or not to utilise the CPA, the quantumof issued shares, the minimum issue price of shares and the timing of each placement tranche (if any). There are norequirements on LKE to utilise the CPA and LKE may terminate the CPA at any time, without cost or penalty. Acuity Capitaland the CPA do not place any restrictions at any time on LKE raising capital through other methods. If LKE does decide toutilise the CPA, LKE is able to set a floor price (at its sole discretion) and the final issue price will be calculated as thegreater of that floor price set by LKE and a 10% discount to a Volume Weighted Average Price (VWAP) over a period ofLKE's choosing (again at the sole discretion of LKE). As collateral for the CPA, LKE has agreed to place 15m shares fromits LR7.1 capacity, at nil consideration to Acuity Capital (Collateral Shares) but may, at any time, cancel the CPA and buyback the Collateral Shares for no consideration (subject to shareholder approval)"

Extract from announcement November 02 2018

"The Companyadvises that an unsecured $500,000 facility has been established with a currentshareholder, immediately available for short term funding of the explorationactivities including the advancement of drilling at Cauchari. The facility hasa commercial interest rate. The Company is in discussions with a number ofpotential strategic investors to advance the flagship projects throughprefeasibility study and/or feasibility study. With current facilities, Lake has sufficient funds to continue current explorationactivities"

20 cent options Exercise Date December 15 2018

Potential to raise up to $8.33 million if fully converted (Presumably the lack of small investor support for the Maiden Resource report has not improved the prospect of reaching / exceeding the 20 cent mark)