Level-headed, blunt assessment of Lake Resources

What I would like to do here is start a thread that focuses on a blunt assessment of where things stand with Lake Resources.

I would like to invite LH's and major contributors like @Fantasyboy@Suw@gassed etc., to participate on this thread and to contribute solid answers and meaningful analysis.

I know this thread will become inundated with trolls and shorters, I want to ask posters to PLEASE NOT RESPOND TO THEM!!!!! I have all of them on ignore. If you REPLY TO THEM AND GET IN AN ARGUMENT WITH THEM, I WILL PUT YOU ON IGNORE.

Let's start with the basic hard facts:

1) Does the technology work? Yes it does, as we've seen plenty of times in the verification/de-risking process. The demo plant successfully produced 2500lce and the results were independently verified.

2) Lake still has the resources. Lake 100% owns the Kachi property where the JORC is currently at 2.9Mt LCE with inferred at 5.2Mt, and GROWING.

3) the OT's, while non-binding at this point, are STILL in place. SK and WMC have approved the new execution plan. The financiers also still remain in place, UKEF, EDC, Citi, and JP Morgan have also approved the new execution plan.

4) Nobody from the executive and operational team has resigned. Nobody from the board has resigned. This would have happened if outright fraud had been committed.

Now what went wrong?

The old projects timeline and true costs were always farfetched and unrealistic, and I hadn't bought into them 100% and as far as I know (and please correct me) were put in place by Promnitz. I do not think Promnitz was being deceptive. He was and is outstanding when it comes to mineral exploration, but when it came to being CEO of a growing company, he was in way over his head.

But I was surprised by the huge disparity between the old and new timeline. I am hoping that this is a case of "underpromising and overdelivering."