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  • Lake Resources Shares Hit by Short Seller’s Lithium Tech Allegations | Technology News
Lake Resources Shares Hit by Short Seller’s Lithium Tech Allegations | Technology News
Technology News

Lake Resources Shares Hit by Short Seller’s Lithium Tech Allegations | Technology News

Eleanore Beatty July 12, 2022 Article

(Reuters) – Short vendor J Capital Investigate on Monday alleged that Lake Resources NL’s prepare to develop lithium in Argentina is centered on a method from Lilac Solutions Inc that probable does not do the job, the most recent assault from a wave of new systems aiming to generate the electric powered automobile battery steel.

Shares of Lake, which are traded in Australia, fell 6.3{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} on Monday soon after J Capital’s report https://www.jcapitalresearch.com/uploads/2///3/20032477/2022_07_11_lke.pdf outlined a number of alleged missteps by Lake’s administration and claimed that know-how designed by Lilac is far too high-priced to run and makes use of also a great deal freshwater.

Privately-held Lilac is amongst the most-well known builders of so-called direct lithium extraction (DLE) systems aiming to extract the battery metallic from brine employing a assortment of machines, even though none have labored at professional scale. (Total story) https://www.reuters.com/business/sustainable-small business/new-lithium-technologies-can-help-environment-go-green-if-it-functions-2022-04-07 (Entire tale) https://www.reuters.com/write-up/mining-lithium-technology-idCNL1N2United kingdom302

“Lake has hitched its cart to Lilac’s yet-to-be-tested technological innovation,” J Capital Research claimed in the 17-website page report. “Traders nonetheless have no proof that the Lilac DLE know-how is effective at scale, and if so, at what price.”

Lilac signed a deal with Lake final September to build the Kachi lithium job in Argentina, portion of a plan to evolve from a technological know-how corporation to a lithium producer. https://www.reuters.com/organization/sustainable-organization/australias-lake-resources-teams-up-with-clean up-tech-firm-lilac-produce-argentina-2021-09-21/#:~:text=MELBOURNE{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}2C{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}20Sept{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}2022{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}20(Reuters),rocketing{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}20much more{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}20than{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}2020{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}25{a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9}20increased

In April, Ford Motor Co signed a preliminary lithium offer deal with Lake. (Complete story) https://www.reuters.com/write-up/ford-motor-lithium-lake-resources-idCAKCN2M31K1

Associates for Lake could not immediately be achieved for comment. J Capital declined to disclose the measurement of its shorter situation.

Lilac’s technologies makes use of ceramic beads to attract lithium in batch cycles, akin to a laundry machine, just after which a drinking water-and-acid mixture is utilized to clean off the metal.

J Money alleges in the report that the beads only perform for 150 cycles, building Lake’s job uneconomical.

Lilac Chief Government Dave Snydacker claimed that determine is “factually inaccurate” and that his firm has examined the beads at far more than 1,000 cycles.

“I don’t know in which they got that variety from. It’s possible they’re guessing,” Snydacker instructed Reuters, introducing his business expects to produce a pilot plant to Lake’s Kachi site by the close of the month.

“We have a large degree of self-assurance that our plant will be thriving for the reason that we’ve supported the layout with so a lot check work.”

(Reporting by Ernest Scheyder Enhancing by Marguerita Choy)

Copyright 2022 Thomson Reuters.

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Tags: Allegations, hit, Lake, Lithium, News, Resources, Sellers, Shares, short, tech, technology

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