Short seller J Capital Research on Monday alleged that Lake Resources NL's plan to produce lithium in Argentina is based on a process from Lilac Solutions Inc that likely does not work, the latest attack against a wave of new technologies aiming to produce the electric vehicle battery metal.

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Shares of Lake, which are traded in Australia, fell 6.3 per cent on Monday after J Capital's report outlined several alleged missteps by Lake's management and claimed that technology developed by Lilac is too costly to run and uses too much freshwater.

Privately-held Lilac is among the most-prominent developers of so-called direct lithium extraction (DLE) technologies aiming to extract the battery metal from brine using a range of equipment, though none have worked at commercial scale. 

"Lake has hitched its cart to Lilac's yet-to-be-proven technology," J Capital Research said in the 17-page report. "Investors still have no evidence that the Lilac DLE technology works at scale, and if so, at what cost."

Lilac signed a deal with Lake last September to develop the Kachi lithium project in Argentina, part of a plan to evolve from a technology company to a lithium producer.