"Lake muddies waters with another offtake dealTHE status of Lake...

"Lake muddies waters with another offtake deal

THE status of Lake Resources’ existing non-binding offtake agreements remained unclear today, with the company announcing a new conditional agreement with a South Korean battery maker.

While it may seem logical that Lake is considering expanding Kachi production, there are questions about if that is even physically possible , and it explicitly described SK On's potential offtake as 50% of Kachi .

Lake and Lilac are engaged in a dispute over deadlines for the plant's milestones but continue to work together, although Lake claims certain buyback rights.

Canaccord Genuity analyst Reg Spencer was one of the voices last week asking for, and not getting , clarity around the fates of Ford and Hanwa, and the dispute.

While waiting on the plant to produce its first lithium carbonate to de-risk the process, he slashed his price target from $1.65 to $1.40 per share based on uncertainty around offtake and what it might mean for project financing ."

https://www.miningnews.net/energy-minerals-news/news/1441250/lake-muddies-waters-with-another-offtake-deal