The following is an edited version of an article in StockHead. I hold LKE in both Strawman and my portfolio

Lake ResourcesThe now confirmed target of 50,000 tonnes per annum (tpa) of lithium carbonate equivalent, which is double its original planned production, is underpinned by an anticipated increase in resources from recent drilling.

It is also supported by increasing demand for a secure supply chain of environmentally friendly high purity lithium carbonate, indicative support from financiers, supportive host-country investment policies such as lower export taxes and the company’s technology partner Lilac Solutions.

Lake Resources (ASX:LKE) will use the new production target as the base case for its Definitive Feasibility Study and final investment decision for Kachi.

“Lake has received indicative financial support for an increase in the size of the Kachi project from the Export Credit Agencies (ECAs) of the UK and Canada and the numerous international ECA-supported banks.

Thank you Bear77 for your very comprehensive response to the straw - very much appreciated

I'm fairly new to all this, so forgive my ignorance.

I kind of get the share trading thing having been hanging around Strawman for a year or so. I have some Lake Resources Shares (RL as well as Strawman) and saw in my Commsec account today 2500 Lake resources options (expiry June 2022)

What is the mechanism for dealing with them? If I convert them to shares, does that mean I pay the difference between the option price and the share price, if I sell them can I do that through commsec in the same way as shares, or is there another mechanism needed?

I note that 3 directors of Lakeside resources, exercised their collective options (total of 14 million options) by converting them to shares (as opposed to allowing them to lapse),

In addition they announced an issue of 1 bonus option for every 10 shares held, at an exercise price of 35cents. The options will not be listed on the ASX,

Clean lithium developer Lake Resources NL (ASX: LKE; OTC: LLKKF) is increasing drill testing at its flagship Kachi Lithium Project to support a doubling of future planned production.
A four well, 1,600m diamond drill program is advancing, with brine sampling and pump testing. The program
can be readily extended given all equipment is on site. The drilling program will support a conversion of
resources to reserves for Kachi’s Definitive Feasibility Study (DFS). Detailed COVID-19 controls and procedures are being followed to ensure the safety of employees, contractors and local communities.
Drilling will enable Lake to convert Inferred Resources to Measured and Indicated (M&I) Resources, to allow a production expansion study to be conducted.
https://lakeresources.com.au/about-us/sustainability/
for further info.
I hold Lake Resources, here and in my portfolio

Interesting article in stockhead re: Lake Resources https://stockhead.com.au/resources/lake-resources-md-steve-promnitz-on-why-the-asx-lithium-stock-is-an-expert-favourite/