Company
ASX:LPI
Lithium Power International Ltd (ASX:LPI) is a pure-play lithium company focused on the development of Chile’s next high-grade lithium mine. The Maricunga JV, in which LPI holds a 51% interest, is the highest quality pre-production lithium brine project in South America.
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Lithium Power CEO and managing director Cristobal Garcia-Huidobro said: “The funds raised will allow Lithium Power to progress the development and accelerate the expansion of the Maricunga project, as well as general working capital purpose
“The acquisition of these properties in highly prospective areas is part of our strategy to add to the portfolio of LPI’s Western Australian hard rock spin out company, Western Lithium Ltd,” CEO Cristobal Garcia-Huidobro said.
The company is planning to acquire 100% control of the Maricunga Project by way of a three-party all-share merger with the project’s minority owners.
“This transaction is a highly logical step for LPI," said chairman David Hannon. "By assuming full control of the project, LPI will create a strong platform from which to develop and fund Maricunga."
The lithium market is undergoing significant transformation on the back of explosive growth in e-mobility and energy storage.
The study confirms that Maricunga Stage One could be one of the world’s lowest-cost producers of lithium carbonate, with a solid ESG strategy to support a sustainable future.
“These assets deserve their own time, attention and resources, and LPI’s board believes that it is the best outcome for LPI shareholders to create a dedicated, WA-focused company that has the technical, human and financial resources to adva
“Activities on all projects and prospects are advancing well, and we aim to make drilling results known once they come to hand,” says CEO
“The finalisation of this transaction allows LPI to focus on the development of our flagship Maricunga lithium brine project in Chile, with its revised DFS (definitive feasibility study) due to be released shortly," says CEO.
“This drone survey will allow us to design and execute an efficient and well-targeted exploration program, minimising surface disturbance while maximising the likelihood of discovery and eventual delineation of mineralised pegmatites," says
The transaction provides an immediate value for the company’s holding in Argentina while retaining a very solid presence in Latin America with its flagship Maricunga Lithium Brine Project in Chile.
Three exploration core holes have been completed to 400 metres and core hole four is passing 300 metres with the fifth and final hole expected to be completed in early May, two weeks ahead of schedule.
The Centenario Salar is in the centre of ‘The Lithium Triangle’ covering an area of 68 square kilometres over seven adjoining leases.
The project has the potential to generate life-of-mine operational revenue of US$6.93 billion and operating cashflow of US$5.07 billion over 20 years.
Drilling has commenced with a 500-metre diamond hole underway at the Netley target.
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