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The lithium miner advised on the progress of its Kachi Project in Argentina in quarterly results released today.

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The Lake Resources NL (ASX: LKE) share price is in the green today after the lithium miner released its quarterly results for the three months ended 30 June 2022.

The Lake Resources share price is trading 2.8% higher at 79 cents at the time of writing, after hitting an intraday high of 84 cents in early trade.

Key takeouts from the report include:

The company noted that its demonstration plant has arrived in Argentina and is now being assembled prior to commissioning.

Lake says the modular design allows for a “plug and play” approach once brine feed, power and reagents are connected.

The demonstration plant will operate for around three-four months to produce lithium chloride. This will be converted into “high purity battery quality lithium carbonate”, ready for sale to potential off-takers.

The company also left the quarter with $173 million in cash on the balance sheet due to the conversion of $62 million options in June.

In the past 12 months, the Lake Resources share price has clipped a 84% gain, despite sliding more than 22% into the red this year-to-date.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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