Direction of LKE, page-7

i am not short on LKE and have no financial interest in LKE, my only hope is for people to take off the rose coloured glasses and see the company for good and bad, so with that in mind
Technology
lilac have been around since 2017, they have one client which is LKE, they have failed in multiple bids including at asx listed ASN which remarked that the tech lithium recovery was too low, since then lilac have released recovery rates around 74% which is pretty poor in comparison to who ASN later partnered with; Sunresin (who have operating projects), at around 90%, its also worse than every other DLE I've seen. Lilac sold themselves as low operating costs and low capital cost so lets move onto that
Capital and Operating Cost
the operating cost is in part based upon the reusability of the ion exchange beads which the numbers have never been released for, they say 10,000 cycles but other who have tested said it fell far short, also lilac have a govt grant to build the bead facility but need to stump up 150m USD to build it, with one client that's a big risk and LKE cant achieve full production without the beads. Capital cost has flown up from 495m USD to as high as 1.5bn USD, recently CXO who are in production raised 100m AUD at a 26% discount to VWAP so how LKE intend to raise such a huge amount of money is unknown, that doesn't include that power has not yet been provided and wont be until mid 2027, any delays obviously delay production
Funding
LKE have no real funding partners as such, they have received an expression of interest with the UKECA which was obtained before this update, that's non binding. Kachi funding would be say 60/40 or 70/30 debt to equity with apparently lilac who have no revenue must stump up 20%, so 30% of 1.5bn USD is 700m AUD, 20% of 700m is 140m which leaves LKE with 560m needed to be sourced, that amount would more than double LKE current SOI, then they have a further 200+m USD for the power solution which lilac have no obligation to help with and thats just for phase 1, phase 2 DFS wont be out for 3 years so whether it will even be possible will remain a mystery for a long time
Team
Dave Dickson has been CEO around 1 year, in that time the DFS has again slipped twice, all the plans re-written (inevitable) and hes been charged by the SEC 100k USD for intentionally falsifying loss records at his previous position, at that previous position he also spearheaded a merger which bankrupted the company then hid from angry investors and left. Also on the team is non exec director is Stu Crowe who im convinced would have trouble running a food truck, he is a complete liability and the fact hes still there shows something is wrong. The rest of the team are continuing on a DFS lake have failed to deliver in 30months and in the last 12 months they've sucked 90m AUD from LKE bank account with the most insane corporate costs i have seen for a company that are just doing the bare minimum to delver a DFS

ontop of that LKE can only produce lithium which means they are extremely vulnerable to price shifts, the EV revolution is starting slower than expected and if costs slip too far than LKE can slip into break even territory, others like ASN and VUL can extract other minerals or generate power through geothermal heat, lake can do none of this. The currency climate in argentina is reaching catastrophic levels and there is almost no chance that inflation can be tamed without drastic measurements like devaluing the currency, plus locals in the region hate lithium miners and protest against the lithium triangle being further exploited which is damaging their livlihoods..

if this was worth like 100m then sure, worth a punt but its worth 350m, you want a sure thing with low risk at that price and this aint it, LKE is fraught with risk