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Lake Resources signs off-take with battery manufacturer

Kitco Media
By Jim Wyckoff
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r Lake Resources NL (ASX: LKE) announced today that it agreed to a conditional off-take with SK On, a Korean battery manufacturer.

Lake is focused on developing its flagship Kachi Project in Catamarca Province, Argentina. The company has three other projects covering 220,000 ha.

Terms of the deal include the following:

  • A strategic investment of a 10 percent stake in Lake (20 trading-day VWAP prior to 12/10/22)
  • Offtake of 50 percent of Kachi project lithium product up to 25,000dmt (LCE)
  • Initial five-year term plus option for a further five years
  • Offtake priced on an agreed market price formula based upon the average quoted price in the quotation period.

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Jim Wyckoff

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

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