Lake Resources (LKE) Precious Metals & Critical Minerals Virtual Investor Conference summary

Project overview and development milestones

• Focused on the Kachi lithium brine project in Catamarca, Argentina, with a 25-year mine life and a resource of 11.1 million tons LCE, 8.2 million tons measured and indicated.

• Phase one targets 25,000 tons per annum of battery-grade lithium carbonate at over 99.5% purity, with potential for future expansion.

• Updated DFS in August 2023 reflects higher brine concentration (268 mg/L), improving CapEx and OpEx outlook.

• Power supply solution developed with YPF Luz, integrating grid connection into project economics.

• Received Ramsar site zonification approval in December, advancing environmental permitting.

Financials and economics

• CapEx estimated at $1.16 billion for phase one; OpEx just under $5,900/ton, with power accounting for over 55% of OpEx.

• Project NPV at $1.5 billion and IRR of 22.5%, based on $20,500/ton lithium price.

• Cash position at end of December: AUD 50 million (~$10 million), with no debt and strong cost management.

• Over 40% reduction in spending in 2025 compared to 2024, with continued focus on liquidity and cost control.

Technology and partnerships

• Direct Lithium Extraction (DLE) technology partnership with Lilac Solutions, using ion exchange beads.

• Lilac's Gen 5 DLE technology and new Nevada bead manufacturing facility support scalability up to 100,000 tons/year.

• Lilac's offtake deal with Traxys and their own U.S. plant further validate technology's commercial viability.

• Ongoing collaboration with Lilac, who remains a minority partner in Kachi.