Lake Resources N.L. (ASX: LKE) shares continued their disappointing run in September.
During the month, the lithium developer's shares sank 18%.
The company's shares have taken another tumble on Tuesday and just closed the session 2.5% lower at 17.5 cents.
This means the Lake Resources share price is now down a staggering 80% over the last 12 months.
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What could be on the cards for Lake Resources shares this month?
Lake Resources will be busy again this month working on its Kachi operation in Argentina.
Its most recent update revealed that the company had successfully completed the Saltworks Technologies lithium carbonate test program to produce battery grade lithium carbonate from Lilac DLE lithium chloride eluate.
Lake delivered 120,000 litres of concentrated lithium chloride eluate for this carbonate production test work from its DLE demonstration plant. Management believes this shows that the process works successfully and de-risks the Kachi project.
But this demonstration plant won't be around for much longer. The company plans to shut down the plant in October as it prepares for a major announcement in December. That announcement will be its Definitive Feasibility Study. This is the study that essentially decides whether the project has a future or not.
Before then, investors may want to look out for exploration updates from recent drilling. These are expected to be released prior to the DFS results, which could mean later this month.
In addition, Lake's next quarterly activities update will be released towards the back end of the month. That will provide investors with an update on its cash balance, which last stood at $90 million.
All in all, it could be a busy month for the company. But given how many in the market are sceptical about the viability of the Kachi project, it may take something special to get Lake Resources shares heading meaningfully higher. Especially if lithium prices remain under the pump.
