Lake AGM - 26 Nov 2019

Hi fellow LKE holders.

I’ll be attending the AGM in Sydney tomorrow. Whilst I feel that the prospects with Lake are enormous for a small player looking to prove itself amongst much bigger operators, I’ve got to be frank and concede that the past few months have been woeful and it feels like we are slowly losing traction.

I’m very interested to hear what the company has to say about Kachi and how to make steady headway rather than drift backward.

The main topics I’d like information/answers on are:

Convertible Notes

• what is the current status of this matter?
• from previous announcements regarding capital raisings, shareholders had been under the impression that the CN had been paid out (i.e. no lingering conversions). As this has not been the case, why was it suggested that that was the purpose of the raised funds.?
• If, instead of paying out the CN, the funds have otherwise been used, then what has it been spent on and why?

Olaroz

• What is the plan and timeline for drilling?
• What funds are needed?
• Has this plan been shelved due to being further down the priority list?

Kachi

• What is the stage of progress?
• Is the pilot plant currently on site at Kachi - if modules not on site, then what is?
• Timeline for producing first batch of concentrate
• Further funding

Funding

• Announcement 31 Oct regarding appointment of CFO to secure funding for initial lithium production
• Announcement 9 Oct regarding appointment of SD Capital Advisory to secure debt funding for initial lithium production
• What roles are these and how are they to interact in this process?
• Are other members of the board also directly chasing up funding rather than just handing the task over?
• What is the sentiment in the financial markets with providing such funding?

Cauchari

• Lake has previously indicated a sale of this asset once the swimming pool ‘model’ proven and good results obtained. What is Lake currently doing with this asset?

Not sure if I’ll get to ask each of these questions and I might prioritise them based on what unfolds on the day.

I suspect other holders here might also have a question or two they’d like to have raised - I’m happy to do so if it feels appropriate to me.

I’ll endeavour to report back here within a couple of days of the AGM (forgive me if it takes a little longer).

Regards, Grasti