SYDNEY, Australia, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Lithium Power International Limited (ASX:LPI) (“LPI” or “the Company”) is pleased to provide shareholders with an overview of quarterly activities for the period ending 31 December 2022 (“Quarter”, “Reporting Period”), including subsequent events that might have a significant impact between 31 December 2022 and the issuance date of this Report.
HIGHLIGHTS - Completed consolidating ownership of 100% of Maricunga Lithium Project.
- Merger with Salar Blanco LLC to acquire its 31.31% of Maricunga completed on 20 December 2022.
- Completed the Plan of Agreement with JV partner Bearing Lithium to acquire its 17.14% interest in Maricunga on 22 December 2022.
- Battery grade lithium carbonate produced with 99.92% purity from Maricunga.
- Significantly exceeds industry standard specifications for battery grade lithium carbonate of 99.5%.
- Samples sent to potential lithium buyers for analysis as part of LPI’s financing plans for mine development at Maricunga.
- Completed the acquisition of water rights for Maricunga.
Purchased 62 litres/second CAN 6 rights replace a long-term lease that was previously held for only part of Maricunga’s requirements.(1)
- Commenced RC and diamond drilling at East Kirup lithium prospect, Western Australia.
Several zones encountered indicated the potential for pegmatites at part of the LPI’s Greenbushes project in the south-west of Western Australia.
- MSB continues with its project financing process.
Non-binding terms sheets being evaluated from parties interested in providing both equity and debt for Maricunga development. Progress as expected during upcoming months.
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To read the company’s full ASX release with the results of its Activity Report for the Quarter ended December 2022, please click here.
(1) LPI had a 23-year lease for up to 28 l/s from the CAN 6 water rights.
For further information, please contact:
Cristobal Garcia-Huidobro, CEO or Andrew Phillips – CFO Lithium Power International
E: info@lithiumpowerinternational.com
Ph: +612 9276 1245
www.lithiumpowerinternational.com
@LithiumPowerLPI
Jane Morgan – Investor and Media Relations
Ph: + 61 (0) 405 555 618
E: jm@janemorganmanagement.com.au
For U.S. and other international investor relations enquiries:
Arrowhead Business and Investment Decisions, LLC Thomas Renaud | Managing Director
42 Broadway, 17th Floor, New York, NY 10004 Ph: +1 212 619 6889
E: enquire@arrowheadbid.com
