Under the LOI, Lake and YPF Luz will engage in exclusive non-binding discussions to evaluate and negotiate agreements relating to:
- The construction of the high voltage line by YPF Luz for power capacity for Kachi
- Delivery of the power supply by YPF Luz for Kachi
To support the power solution and create a binding commercial agreement, YPF Luz will perform the Front-End Engineering Design ("FEED") work for the proposed power delivery system. The FEED will be progressed through the remainder of 2024.
"After running a thorough process for the Kachi power solution, we are very pleased to enter into exclusive negotiations with YPF Luz,"
"Establishing the delivery of a power solution for Kachi is a critical milestone for the development of this Project.
"We look forward to working together with YPF Luz, which has demonstrated expertise in bringing power to remote areas of
"Both federal and state governments in
YPF Luz is co-owned by YPF,
The signing of the LOI continues Lake's momentum following:
- The successful Equity Placement and Share Purchase Plan which strengthened Lake's balance sheet by providing additional working capital and financial flexibility to complete the strategic partner process ("the Process")
- The outreach to a wide array of potential strategic partners including car and battery manufacturers, lithium producers, oil and gas companies, sovereign wealth funds and private equity. The Process is expected to conclude in the second half of the year (2H CY24).
- Submission of the Production Environmental Impact Assessment ("EIA") for Kachi Phase One to the
"We are also pleased with the strong institutional support we received during the recent capital raising, demonstrating their appreciation for our track record of delivering on our milestones, as well as their recognition of Kachi as a world class resource and globally significant project,"
To view the latest Investor Presentation, please visit:
https://www.abnnewswire.net/lnk/DSYO1GSD
About
This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.
Contact:
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com
Global:
SVP, Investor Relations
karen.greene@lakeresources.com.au
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