Despite taking some hits on its share price recently, Lake Resources (ASX:LKE) is looking ahead to executing a stronger strategy to achieve its ultimate goal of producing 50,000 metric tons (MT) per year of battery-grade lithium carbonate at its Kachi project in Argentina by 2030.
“We reset the project. We analyzed it … we have shifted our first lithium date from the end of 2024 to the second half of 2027. We’ve got a strong story of the building blocks of how we get there,” said David Dickson, Lake Resources’ CEO and managing director.
The company issued an operational update in June that contained significant changes to its earlier projections, including the aforementioned three year delay on first lithium production, a two phased approach to get to the 50,000 MT per year production target and much higher capital costs than originally estimated.
“I think what we have now is a story which is credible. It’s real. We’ve taken a lot of the risk out of building this whole facility,” Dickson said. “I think the industry itself is going through some sort of learning curve or transition to really learn what it takes to develop and build something like this.”
The company is expected to release a definitive feasibility study for the Kachi project by the end of 2023, which will further fine-tune the company’s strategy. In the same operational update, Lake Resources also announced a mineral resource expansion from 5.3 million MT to 8.1 million MT of lithium carbonate equivalent.
Watch the full interview with Lake Resources CEO and Managing Director David Dickson above.
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