Lake Resources N.l. · ASX:LKE
Lake Resources N.l — Investor Presentation (March 2024)
52 slides from Lake Resources N.l's investor presentation, Mar 12, 2024
Slide 1: Updated Investor Presentation
ASX ANNOUNCEMENT 12 March 2024 Not for release to US wire services or distribution in the United States UPDATED INVESTOR PRESENTATION The Investor Presentation released this morning has been updated to correct the timetable on slide 8, in particular the Record Date for eligibility to participate in
Slide 2: Forward Looking Statements and Not an Offer in the United States
changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of Lake’s projects. Lake Resources N.L. disclaims any intent or obligation to update any forward-looking statements, whether as a result of new informatio
Slide 3: Investor Presentation March 2024
Investor Presentation March 2024
Slide 4: Disclaimer
Disclaimer General Statement and Cautionary Statement This presentation has been prepared by Lake Resources N.L. (Lake) for information purposes and not any particular party. This document is not a prospectus or disclosure document relating to Lake, and it does not constitute an offer or invitation
Slide 5: Disclaimer, continued
Disclaimer, continued Forward Looking Statements Certain statements contained in this presentation, including information as to the future financial performance of the projects, are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assum
Slide 6: Key Investment Highlights
Key Investment Highlights Globally Significant 10.6 Mt LCE Resource Designed to Produce 25 ktpa in Phase 1, With 1 Significant Expansion Potential, in an Attractive Mining Jurisdiction Ideally Positioned to Supply the Structural Market Deficit of More Than 240k Tonnes LCEProven, by 2030 and More Tha
Slide 7: Equity Raising Overview
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Equity Raising Overview 5
Slide 8: Equity Raising Overview
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Equity Raising Overview ■ Lake is conducting the Offer to raise up to approximately $20 million (before costs), comprising: — A placement to raise $15 million via the issu
Slide 9: Sources and Uses
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Sources and Uses Equity raise proceeds will provide flexibility and liquidity to explore strategic partnerships at the Kachi project, with preliminary discussions with pot
Slide 10: Indicative Equity Raising Timetable
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Indicative Equity Raising Timetable1 Event Date (2024) Trading halt Friday, 8 March 2024 Record date for eligibility to participate in SPP Monday, 11 March 2024 Trading ha
Slide 11: Lake Resources Overview
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Lake Resources Overview 9
Slide 12: Lake Overview
Lake Overview One of Largest Lithium Development Advanced and Proven Process to Produce Significant Technical Work Completed To 1 2 3 Projects Across the Lithium Triangle Battery Grade Lithium Carbonate Prove Project Validity and Complete DFS ◼ Lake’s flagship project – Kachi – is a ◼ Extensive pilo
Slide 13: Management and Operations Team With Proven Track Record in Executing Large Scale Projects
Management and Operations Team With Proven Track Record in Executing Large Scale Projects David Dickson is an industry leader with Exceptional Operations Team over 30 years’ experience in process technology, engineering, construction and EPC cost management, across the energy Jonathan Nielsen Jonah
Slide 14: Capital Management to Extend Runway
Capital Management to Extend Runway1 ◼ Lake held cash of A$31.3 million (~US$21.3 million) as of 31 December 2023 with no debt ◼ On-track to achieve 40%2 reduction in quarter over quarter (q-o-q) expenditures from 31 December 20233 to 31 March 2024 ◼ Targeting additional 30%2 reduction in q-o-q expe
Slide 15: Strategic Delivery of Kachi
Strategic Delivery of Kachi Available Project Financing Solutions Funding Targeted Target Options for Kachi Phase 1 Financing Mix Current Pursuits • Equity offering to fund corporate expenses and Equity at Lake Parent Level 1 working capital before completion of strategic partnering process Equity •
Slide 16: Robust Strategic Partner Process Underway
Robust Strategic Partner Process Underway Contemplated Process for Strategic Partner Process1 Car Car & & Battery Battery Manufacturers Manufacturers Official Launch ◼ January 2024 – UNDERWAY End-users End-users // offtakers offtakers with with ability ability to to provide provide debt debt and and
Slide 17: Illustrative Timeline to First Lithium
Illustrative Timeline to First Lithium1 Year -1 Year 0 Year 1 Year 2 Year 3 Months 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Pre-FID Post-FID Equity Raise1 Strategic partner process (JV)2 Corporate ECA debt
Slide 18: Appendix A – Kachi Project Overview
Appendix A – Kachi Project Overview
Slide 19: Lithium Market Balance
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Lithium Market Balance The lithium market is expected to be in deficit from 2029 onwards, based on current project pipeline ▪ With lengthy lead
Slide 20: Argentina Overview
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Argentina Overview The security of future lithium supply is virtually impossible without Argentina Forecast Lithium Mine Supply (tonnes LCE)1 +2
Slide 21: Argentina Overview
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Argentina Overview Argentina is home to many mining companies and has cultivated a favorable environment for the industry Project Name: Chauchar
Slide 22: Kachi Project Timeline
Kachi Project Timeline Recruited Experienced Management and Successful Completion of Demo Resource drilling Technical Team1 Plant – Produced 1,300Kg of Preliminary Environmental and completion of Pilot Plant Battery Grade Lithium Carbonate Environmental Successful Definitive Impact Pre-Feasibility A
Slide 23: Management Team Brought New Approach to Kachi
Management Team Brought New Approach to Kachi Recognizing the clear parallels between lithium extraction via DLE and oil & gas projects helped to shape a prudent re-evaluation and refresh of our approach to developing Kachi - Recruited management, technical and - Brine to battery grade Li2CO3 from D
Slide 24: Colossal Resource with Embedded Upside
Colossal Resource with Embedded Upside Kachi M&I resource Resource expansion from June 2023 update1: estimate increased ■ Measured resource has 250% since June 2023 increased from 2.2 to 3.0 million tonnes LCE 10.6 ■ Indicated resource has 8.1 increased from 0.72 to 4.3 million tonnes LCE 3.3 ■ Infe
Slide 25: Ore Reserves
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Ore Reserves Average Lithium Reserve Category Years Lithium (Tonnes) LCE (Tonnes) Concentration (mg/L) Proved 1 3,600 18,900 259 Proved 2-7 28,5
Slide 26: Proven, Scalable Production of Battery Grade Lithium Carbonate with a World Class Partner
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Proven, Scalable Production of Battery Grade Lithium Carbonate Partnering Process CIM_v33.pptx with a World Class Partner, Using Ion-Exchange DLE Technology Recently Closed Ser
Slide 27: Significant Technical Work Completed to Prove DLE Technology
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Significant Technical Work Completed to Prove DLE Partnering Process CIM_v33.pptx Technology DLE – Lilac Solutions Ion Exchange 100% Lithium Recovery 80% ◼ On-site demo plant o
Slide 28: Overview of Proposed Project Site Layout
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Overview of Proposed Project Site Layout Kachi is a large-scale lithium carbonate project with significant LCE resource and further expansion po
Slide 29: Review of Process Flow Sheet
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Review of Process Flow Sheet Proven flow sheet produces high purity battery grade lithium carbonate1 within several hours of extraction Kachi Ph
Slide 30: Phase One DFS Demo Scope – Battery Grade by Design
Phase One DFS Demo Scope – Battery Grade by ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Design Balance of Plant (BOP) – Saltworks Technologies ◼ The BOP process consists of industry standa
Slide 31: Produced Battery Grade Lithium Carbonate Consistently
Battery Grade Lithium Carbonate Consistently ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Produced Concentrate Assay Range Lithium Carbonate Produced from Kachi Concentrate Typical Concentr
Slide 32: Cleaner Lithium by Design
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Cleaner Lithium by Design 1 Higher Lithium Recovery 2 Lower Water Usage2 15% 60% 45x Higher Higher Lower Cubic Meter Per Metric Metric Tonne of Lithium Carbonate Equivalen
Slide 33: Strong Community and Government Engagement
Strong Community and Government Engagement ▪ Looking forward to building relationship with recently elected Federal government ▪ Continued strong relationship with Catamarca government ▪ Monthly meetings with local government and community to provide status updates of Kachi Project ▪ Emphasis on tra
Slide 34: Exceptional Financial Results
Exceptional Financial Results Targeted project financial results1 ($USD) Units Period DFS Result Phase One DFS Financial Outputs Lithium Carbonate Revenue $M Life of Mine 20,700 Phase One – 25 ktpa LCE Lithium Carbonate Revenue $M Annual Average 827 Production Target2 EBITDA2 $M Life of Mine 15,870
Slide 35: Lithium Producers Cash Costs Comparison
ibdroot\projects\IBD-NY\lupine2023\917532_1\02. Presentations\2024.02.xx - JV Partnering Process CIM\2024.02.xx - Strategic Partnering Process CIM_v33.pptx Lithium Producers Cash Costs Comparison Kachi is in the middle of the pack compared to lithium producers peer set cash costs Cash Cost1 vs. Peer
Slide 36: Non-GAAP Financial Measures
Non-GAAP Financial Measures Definitions Note: These financial definitions are alternative performance measures that are not defined or specified under IFRS or AASC standards and for which there are no generally accepted reporting formats EBITDA = Earnings before Interest, Taxes, Depreciation and Amo
Slide 37: Appendix B – Resources and Reserves
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Appendix B – Resources and Reserves 35
Slide 38: Resource Statement
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Resource Statement Note: This table has been directly extracted from the JORC update announced on 22 November 2023. Lake Resources N.L. confirms that it is not aware of an
Slide 39: Reserve Statement
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Reserve Statement Note: This table has been directly extracted from the maiden Ore Reserve statement announced on 19 December 2023. Lake Resources N.L. confirms that it is
Slide 40: Appendix C – Key Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Appendix C – Key Risks 38
Slide 41: Key Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Key Risks Risk Factors This section discusses some of the key risks associated with an investment in new shares. Investors should regard the following “Key Risks” when mak
Slide 42: Key Risks – Specific Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx KeyRisks Key Risks Specific Risks Our ongoing activities may require substantial further financing, additional to any prior or future capital raisings. We will also requir
Slide 43: Key Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Key KeyRisks Risks Given our exploration activities (and especially if we achieve exploration success leading to mining activities), we will face the risk of workplace inj
Slide 44: Key Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor KeyRisks Risks Presentation_Draft.pptx Key Prior to the COVID-19 pandemic and the 2022 Russian invasion of Ukraine, appropriate goods, materials, supplies and equipment, including drill rigs, wer
Slide 45: Key Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Key Risks Lake has completed significant test work as reported in the Phase 1 Definitive Feasibility Study and has engaged expert third parties to conduct engineering and
Slide 46: Key Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Key KeyRisks Risks Mining, processing, development, and exploration activities depend, to a significant degree, on adequate infrastructure. In the course of developing the
Slide 47: Key Risks – General Risks
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Key KeyRisks Risks General Risks A shareholder’s percentage holding in the Company will be diluted by not participating in the placement (which will include all retail sha
Slide 48: Appendix D – International Offer Jurisdictions
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx Appendix D – International Offer Jurisdictions 46
Slide 49: International Offer Jurisdictions
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx International Offer Jurisdictions This document constitutes an offering of New Securities only in the Provinces of British Columbia, Ontario and Quebec (the “Provinces”),
Slide 50: International Offer Jurisdictions (Cont.)
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx International Offer Jurisdictions (Cont.) WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneou
Slide 51: International Offer Jurisdictions (Cont.)
ibdroot\projects\IBD-HK\labelled2023\921886_1\Investor Presentation\2024.02.26 - Lake Resources Investor Presentation_Draft.pptx International Offer Jurisdictions (Cont.) Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Autho
Slide 52: Investor Presentation
Investor Presentation March 2024 50
Lake Resources N.L. — Investor Presentation (March 2024) on 6ix