Australia's Lake Resources appoints PE advisor David Dickson as CEO

Lake Resources NL

07/09/2022 03:55

Sept 7 (Reuters) - Lithium miner Lake Resources NL  LKE.AX 
said it had appointed David Dickson as its new chief executive
officer and managing director on Wednesday, after Steve Promnitz
stepped down in June.
    Shares of the company rose as much as 7% in early trading,
but pared most of these gains to trade up nearly 3%. The stock
was still among the top gainers on the benchmark index  .AXJO .
    Dickson had previously served as the CEO of engineering and
construction firm McDermott International. He is currently a
senior advisor to private equity firm, Quantum Energy Partners
and an executive strategic advisor to investment company, The
Chatterjee Group.  
    Promnitz had overseen Lake's development for nearly six
years before calling it quits in a surprise move earlier this
year. 
    Lake has signed a number of deals to supply lithium in
recent months, including with Ford  F.N , as a rising global
demand for electric vehicles (EV) has prompted automakers to
step up efforts in securing raw materials needed for making
batteries.
    Recently, short seller J Capital Research had claimed that
Lake's plan to produce lithium in Argentina is based on a
process from partner Lilac Solutions Inc that likely does not
work, allegations that Lake has refuted.  urn:newsml:reuters.com:*:nL4N2YU3XA
    

 (Reporting by Harish Sridharan and Jaskiran Singh in Bengaluru;
Editing by Rashmi Aich)
 ((Jaskiran.Singh@thomsonreuters.com;))