Lake Resources appoints joint financial advisors for Kachi Lithium Brine Project
Lake Resources NL (ASX:LKE) (OTCMTS:LLKKF) has appointed SD Capital Advisory Limited and GKB Ventures Limited as joint financial advisors to structure and arrange project finance, with a focus on Export Credit Agencies (ECA’s) for the development of the company’s flagship Kachi Lithium Brine Project in Argentina.
SD Capital Advisory is a London-based independent financial boutique which focuses on securing project finance for corporates and mining/resources companies in developed and frontier markets and GKB Ventures Limited (GKB) is an independent consultancy helping clients to secure cross-border transactions and access international finance via ECAs.
The company is confident in this appointment as a significant development milestone for the Kachi Project.
“Secure form of debt funding”
The company is focused on accessing international debt finance via Export Credit Agencies, a secure, lower-cost form of long-term capital.
Lake managing director Steve Promnitz said: “Export credit offers a low cost and secure form of debt funding which will maximise value for shareholders and minimise risks to the company.
“We look forward to engaging further with these parties.”
“ESG front and centre for financiers”
In a joint statement, SD Capital Advisory Ltd chairman David Buckle and GKB Ventures Ltd managing director Gabriel Buck respectively said: “Having interacted extensively with the company over the last year, and after a thorough assessment of Kachi and its potential, we applaud the continued progress of Lake’s management.
“We are attracted by the characteristics of the Kachi Project and Lake’s innovative use of disruptive direct extraction technology from California-based Lilac Solutions, resulting in a low environmental impact and impressive ESG outcomes.
“Ultimately, this leads to the production of a high purity lithium carbonate matching the sustainable goals of global auto manufacturers by offering responsibly sourced battery grade supply.
“Impressive ESG characteristics are indeed front and centre for financiers today, including export credit agencies.”
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/942789/lake-resources-appoints-joint-financial-advisors-for-kachi-lithium-brine-project-942789.html
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