Capital-hungry lithium play Lake Resources is playing host to a bunch of potential funders, opening a data room and showing off its project in Argentina.
It is understood the company’s funding talks are focused on potential lenders, both banks and export credit agencies, and managing director Steve Promnitz has representatives of both on site.
A lithium battery used in electronic vehicles NYT
Promnitz, no doubt, is pitching the clean lithium lines that he has also put to equity investors in recent weeks, pointing out that Lake’s Kachi project is one of the 10 largest brine resources globally.
Kachi’s expected to cost $US544 million to build and be 70 per cent funded with project finance.
It’s already in talks with export credit agencies to help cover the debt, including UK Export Finance and Canada EDC.
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The question for equity investors, is whether the funding talks also point to an equity funding round.
For now, it seems Promnitz just wants to get the debt squirrelled away. It is understood he has been hit with underwritten equity terms from a few brokers (Canadian and Australian), but isn’t pursuing them, yet.
Capital-hungry lithium play Lake Resources is playing host to a...
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