Lithium Power International Ltd (ASX:LPI) has consolidated its ownership of the Maricunga lithium brine project in Chile, having completed a deal with joint venture partner Bearing Lithium Corp (TSX-V:BRZ).
LPI snapped up Bearing’s last 17.14% interest in the project, having completed a merger with Salar Blanco LLC to acquire the 31.31% of Maricunga held by joint venture partner Minera Salar Blanco SpA back in December.
Well positioned
As a result of these transactions, LPI now owns 100% of Maricunga and considers itself well positioned to deliver further value to shareholders, holding the view that the consolidated holding:
- provides the optimal ownership structure to oversee the development of Maricunga by streamlining decision making; and
- simplifies and de-risks the funding pathway for Maricunga, which will enhance the company’s ability to source capital from a wider range of providers to fund development in the lead up to a final investment decision.
Logical consolidation
LPI chairman David Hannon said: ‘On behalf of the LPI board I would like to thank our joint venture partners for their efforts to deliver this logical consolidation of ownership of Maricunga and welcome the new shareholders to LPI.
“With ownership of Maricunga now consolidated we are best placed to pursue the funding and development of Maricunga and deliver further value to our shareholders.’