I want to share a little insight into my journey with Lake, hoping it may provide some wisdom or inspiration for those new to their Lake journey, or even those who got out early. I initially brought into Lake back in 2017 through my SMSF with a purchase of just under 1/2 million in shares. Being self employed and not the greatest with financial management, my SMSF was then and still is, neglected and doesn’t get much love (something I am working on). I still have those original shares and they have sat there over the years going nowhere.
I have always done physical work. I grew up on a 3000 broadacre farm and started working on it early in life, as most farm kids do. Those early beginnings molded my whole identity was around how hard I could work, how much heavy stuff I could lift and how I could out perform my employees half my age. I had a rubbish removal business with we loaded everything by hand manually. Tonnes of rubbish a week. Pick and throw, pick and throw. My ego was running the show, driven by the desire that I must do more. The universe had other plans.
Fast forward to late 2017, I did my back and my path changed dramatically. My business was manual labour, I had acreage which needed constant maintenance. When my back went, my ability to perform these roles went as well. I sold up both the business and the acreage. I had a year off, fully focused on rehab and strengthening my back. This also allowed me time to reflect on life and plan my next move. Late 2019, I decided I was going to buy and hold or sell property. In Jan 2020 with my new builder mate business partner, we brought our first Reno. Then along came the next twist. A little bug called Covid. We had blown our reno budget by “a lot”. Fear had gripped the world. My partner wanted his money back so we sold during the lockdown of 2020. We took a hit but we were out and cashed up again ready for whatever was to come with Covid. I wanted to continue with the property gig by my partner was spooked, so I decided to go it alone. As I had no income for over a year and no property to borrow against, no bank would loan to me.
Demoralised but not defeated, I saw a business opportunity and jumped in. I had brought myself a job. At least it provided the income to survive. With my savings being constantly eaten away, a new business only covering costs if I was lucky, I had to find another way to make my fortune. In my rubbish business, I always looked for the opportunity to recycle, reuse or resell the rubbish. That old saying, “ones mans waste is another mans treasure” certainly applied to me. My motto was “4 wins”. A win for the client (getting their waste problem solved), a win for the environment (minimise what went into landfill) and 2 wins for me (paid to remove the rubbish and reduce tip fees or even paid to dispose of the waste). Ewaste was an ever growing problem which inevitably led me full circle back to Lake.
Now back to 12 months ago. I had to make a move. I was going in the wrong direction financially. My savings were evaporating like a shallow dam in a drought. Then something caught my eye.
The start of the EV revolution. With what I knew and what I could absorb, it felt NOW was the time. If this goes, what is the world going to need to make this EV transition happen? Battery metals was my answer. Lithium, Nickel, Cobalt, Manganese and Graphite mostly. The more I learnt, the more I leant towards Lithium. Now who had a crap load of potential lithium supply? Who potential had the most environmentally friendly method to extract it? Re enter Lake Resources.
I threw caution to the wind. I spent 60% of my remaining personal savings buying Lake approximately 12 months ago outside my SMSF. (The rest went into other battery metal stocks).
Fast forward to today, my life and that of my family, has completely changed. Yes it’s been life changing. To be up 1391% in a year to date, absolutely IS life changing. Yes it’s on paper but that piece of paper is mine. No doubt there will be many more twists and turns to come on the Lake ride. For me, more importantly, I learnt to trust myself. My instinct said “go for it”, so I did.
I am so grateful to Chairman Stu and MD Steve for their dogged persistence and determination to get Lake from the cliff face to where we are today. They have created a potential major Lithium supplier and we all benefit as holders.
I share this story in the hope that it may provide others struggling or others starting out, to do your research and if you get the hit, trust that hit (intuition) and “GO FOR IT”.
No matter where you are in time on the journey of life, that moment you seize “that opportunity”, may just change your life.
I wish success to all in Lake and those that exited too early. Celebrate today and enjoy the ride.
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