Lake Resources NL (ASX: LKE) has released its quarterly report for the period ended 30 June 2022. The Company used a net cash of AU$2.797 million used in its operating activities and AU$13.602 million investing activities. The Company used AU$13.097 million in exploration and evaluation activities.
From the financing activities, LKE generated proceeds of AU$75.517 million from the exercise of options. By the end of the June 2022 quarter, LKE had net cash and cash equivalent of AU$175.139 million.
The Company possesses three lithium brine projects, Cauchari, Olaroz and Paso, over 47,000 hectares in Jujuy Province in north-west Argentina. It aims to present development of these projects to confirm multi-asset lithium expansion by drilling & testing prior to projected additional feasibility studies.
LKE confirmed that drilling is in progress at Kachi to strengthen previous lithium assay results extending beyond the limits of the existing resource.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
