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LKE - LAKE RESOURCES N.L.


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It is understood Export Development Canada, a state owned credit agency set up to back Canadian companies, is thinking about a $US100 million loan for Lake Resources Kachi Lithium Project.

 

EDC has signed a formal letter of interest, sources said, which could see it directly lend into the project and charge the OECD Fixed Commercial Interest Reference Rate (which is significantly less than traditional commercial project finance available to lithium developers).

 

It is the second export credit agency to be pop up at Kachi in the past six weeks. Also on the scene is UK Export Finance, which expressed interest in covering about 70 per cent of Kachi's project funding requirements. (Kachi is expected to cost $US544 million to get into production).

 

The export credit agencies, should they commit to the project, could help derisk Lake Resources flagship without diluting shareholders equity, and enable the company to head into negotiations for offtake agreements and the like without needing to sell part of the project to fund development..

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