Announcement • Mar 07
Salar de Maricunga SpA completed the acquisition of Lithium Power International Limited (ASX:LPI) from Minera Salar Blanco SpA and others. Salar de Maricunga SpA entered a binding scheme implementation deed to acquire Lithium Power International Limited (ASX:LPI) from Minera Salar Blanco SpA and others for approximately AUD 380 million on October 18, 2023. Under the terms, consideration shall be AUD 0.57 per share in cash. In the event of termination, AUD 3.85 million shall be paid as break fee by both parties. The transaction is subject to approval by court, shareholders of Lithium Power and approval by Foreign Investment Review Board. Lithium Power Board of Directors unanimously recommended the scheme. The scheme is expected to be implemented on February 23, 2024. The transaction was approved by the shareholders of Lithium Power on January 23. 2024. Rothschild & Co US Inc. acted as financial advisor, Carey y Cía. Ltda. and Allens acted as legal advisors and Deloitte Touche Tohmatsu LLC acted as accountant to Salar de Maricunga. Canaccord Genuity (Australia) Limited and BDO Corporate Finance Pty Ltd acted ad financial advisor to LPI. Ashurst Australia acted as legal advisor to LPI. BDO Corporate Finance Pty Ltd acted as a fairness opinion provider and Boardroom Pty Limited acted as a registrar for LPI.
Salar de Maricunga SpA completed the acquisition of Lithium Power International Limited (ASX:LPI) from Minera Salar Blanco SpA and others for approximately on March 4, 2024. Announcement • Oct 20
Corporación Nacional del Cobre de Chile entered a binding scheme implementation deed to acquire Lithium Power International Limited (ASX:LPI) for AUD 390 million Corporación Nacional del Cobre de Chile entered a binding scheme implementation deed to acquire Lithium Power International Limited (ASX:LPI) for AUD 390 million on October 18, 2023. Announcement • Oct 12
Lithium Power International Limited, Annual General Meeting, Nov 10, 2023 Lithium Power International Limited, Annual General Meeting, Nov 10, 2023, at 10:00 AUS Eastern Standard Time. Location: Lithium Power International office, Level 10 Kyle House, 27 Macquarie Place, Sydney NSW 2000 Nsw 2000 Australia Agenda: To consider that, in accordance with section 250R(2) of the Corporations Act, the Remuneration Report as set out in the Company's annual report for the financial year ended 30 June 2023 be adopted; to consider that Richard Crookes, being a Director who retires by rotation in accordance with Rule 8.1(d) of the Constitution and Listing Rule 14.4, and being eligible for re-election, be re-elected as a Director; and to consider other matters. New Risk • Aug 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$154.2m (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Revenue is less than US$1m (AU$349 revenue, or US$224). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$8.7m net loss in 2 years). Market cap is less than US$100m (AU$154.2m market cap, or US$98.9m). New Risk • Jul 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Revenue is less than US$1m (AU$349 revenue, or US$232). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (AU$8.7m net loss in 2 years). Announcement • Jun 20
Albemarle Lithium Pty Ltd entered into a binding agreement to acquire Western Lithium Ltd from Lithium Power International Limited (ASX:LPI) for AUD 30 million. Albemarle Lithium Pty Ltd entered into a binding agreement to acquire Western Lithium Ltd from Lithium Power International Limited (ASX:LPI) for AUD 30 million on June 19, 2023. The sale agreement is an all cash-for-shares transaction amounting to AUD 30 million, subject to a customary price adjustment to reflect WLI's liabilities as at completion. Out of the total consideration AUD 29 million will be received at completion while the balance of AUD 1 million will only be received if certain tenement applications are granted within 18 months of completion. The transaction is not subject to any condition’s precedent. Completion is expected to occur effective on or around July 3, 2023. Announcement • Jan 26
Lithium Power International Limited Announces That the Company Has Successfully Completed Its Reverse Circulation Drilling Stage At Its East Kirup Lithium Prospect on E70/4763 Lithium Power International Limited announced that the Company has successfully completed its reverse circulation ("RC") drilling stage at its East Kirup lithium prospect on E70/4763. Ten holes for a total of 573 metres of drilling were completed along existing tracks. A total of 960m was planned, however a few holes had to be cancelled due to environmental considerations. The majority of the holes were completed to 54m. All holes have beenrehabilitated. Several two-metre zones of quartz, pink potassic feldspar, biotite and tourmaline were intercepted. As these were within the overall package of gneiss and granofels, they are potentially pegmatites. The East Kirup Prospect has demonstrated lithium anomalism in the soil, with results up to 232 ppm lithium (GS10448) near GBRC001, and has the same metamorphic grade and rock types as the host rocks at Talison's Greenbushes mine. The program was completed by Castle Drilling, which specialises in accessing difficult terrain with minimal environmental impact. The company utilised a small self-contained drill rig that did not require support vehicles. The rig carried nine rods on a carousel, which removed the need for rod handling. It was also fitted with a dust extraction device, which generated minimal dust both good for the environment and for the health of the workers. The average daily drilling was at 58m due to the care needed to be taken navigating the narrow forest tracks, thereby avoiding damaging trees or the need to prune them. As much time and effort was spent in accessing the holes as was spent drilling. Their exploration team was also very conscious of the ground water, and drilling was conducted in a manner that limited the amount of water reaching the surface, where only two holes required storage sumps. The ground water quality was very good with very low total dissolved solids. The RC drilling component is being followed by 400m of HQ core-sized diamond drilling, which commenced on 13 January and is expected to be completed by the end of January. The East Kirup prospect is located 20km north-west from the Greenbushes Lithium Mine along the Donnybrook Shear Zone, which hosts the lithium-bearing pegmatites at the Greenbushes Mine. The exploration at E70/4763 is ongoing. A mapping and sampling program will commence next week at the Thomas A Prospect, which is an area of arsenic anomalism, which is a proxy for lithium in the Greenbushes region and is where historically pegmatites and surface kaolinite have been mapped. Announcement • Jan 13
Lithium Power International Limited Commences Drilling At Greenbushes Lithium Project Lithium Power International Limited announced that the Company this week commenced a drilling program at its East Kirup lithium prospect, part of the Company's Greenbushes Project in the south-west of Western Australia.East Kirup is located 20km north-west along the Donnybrook Shear Zone from Greenbushes, which is operated by Talison Lithium. LPI's inaugural drilling program in the Greenbushes region, and more specifically the East Kirup lithium prospect, is being undertaken in accordance with an approved Conservation Management Plan (CMP), which aligns with the Western Lithium's sustainable exploration and development practices. It also requires the work to be completed in dry conditions to prevent the spread of phytophthora dieback to minimise the impact on native trees. LPI is currently engaging two drilling contractors with experience in completing work in forested areas under tight environmental conditions. The rigs being used have a very small footprint, and above ground sumps with solid removal equipment to minimise water usage. The planned program includes 960m of reverse circulation drilling and 400m of HQ core-sized diamond drilling. The area has not previously been drilled, hence the objectives of the program are broad, with the aim of defining the water table, water quality and flow rates, and stratigraphy and geochemical anomalies along the Donnybrook Shear Zone previously defined by laterite and soil sampling. The Company has completed detailed two-season flora and fauna surveys on a defined area of the East Kirup prospect, with all planned drill holes located with reference to these surveys on existing tracks where there is sufficient cleared space to allow drilling without further clearing. Announcement • Dec 24
Lithium Power International Limited (ASX:LPI) completed the acquisition of Bearing Lithium Corp. (TSXV:BRZ). Lithium Power International Limited (ASX:LPI) entered into an arm’s-length definitive agreement to acquire Bearing Lithium Corp. (TSXV:BRZ) for CAD 25 million on June 21, 2022. The merger of Bearing will be structured as a plan of arrangement whereby Bearing shareholders will receive 0.7 of an LPI share for everyone Bearing share held (“Exchange Ratio”) (up to 94.5 million LPI shares) 1, and in addition Bearing shareholders will receive a cash distribution (by way of a capital return) estimated at CAD 0.02 per share. Bearing Lithium Stock Options and Warrants that are not exercised prior to the completion of the transaction will remain outstanding and automatically become exercisable for LPI ordinary shares based on the exchange ratio under their current terms. In related transaction, Lithium Power International Limited entered into definitive agreement to acquire Salar Blanco, LLC. The Bearing Shares will be de-listed from the TSXV following completion of the Arrangement. If Bearing terminate the Arrangement Agreement, it will be required to pay LPI Termination Fees of up to CAD 2.5 million. The Transaction has been unanimously approved by the Bearing Board of Directors. The Transaction has been approved by the LPI Board of Directors. The implementation of the Transaction will be subject to the approval of at least 66.67% of the votes cast by holders of Bearing Shares. In addition to the shareholder approvals, the Transaction is also subject to the receipt of certain regulatory, court and stock exchange approvals, completion of the Salar Blanco, LLC Transaction and other closing conditions customary in transactions of this nature. Although under ASX listing rules, the Transaction would be subject to the approval of LPI shareholders. The annual and special meeting will be held on October 28, 2022. As of October 28, 2022, Bearing Lithium shareholders have approved the transaction. As of November 3, 2022, Supreme Court of British Columbia has granted a final order approving the transaction. As of December 15, 2022, the Australian court has approved the deal. The Transaction is expected to close in September 2022. As of October 31, 2022, the closing is expected on or around November 7, 2022. As of November 3, 2022, the transaction is expected to close later this month. As of December 1, 2022, the transaction is expected to close during December 2022. The transaction is expected to close on or about December 22, 2022.
The independent financial advisor to Bearing, Sequeira Partners, has provided a fairness opinion to the Board of Directors of Bearing. Adrian Harvey of DS Lawyers Canada LLP acted as legal advisors and Torretti y Cia acted as Chilean legal advisors to Bearing in relation to this transaction. Treadstone Resource Partners acted as strategic and financial advisor to LPI in relation to the Transactions. Murray Wheater, Greg Golding and Ben Stewart of Ashurst acted as Australian legal advisor, Quentin Markin of Stikeman Elliott LLP acted as Canadian legal advisor, and Pillsbury Winthrop Shaw Pittman acted as US legal advisor to LPI in relation to the Transactions. EY acted as the Australian, US and Canadian tax advisor to LPI in relation to the Transactions. Boardroom Pty Limited acted as transfer agent to LPI. Computershare Trust Company of Canada acted as proxy solicitor to BRZ. Computershare Investor Services Inc. acted as depositary for LPI and BRZ.
Lithium Power International Limited (ASX:LPI) completed the acquisition of Bearing Lithium Corp. (TSXV:BRZ) on December 22, 2022. The Bearing Shares were voluntarily halted from trading on the TSX Venture Exchange ("TSXV") on December 19, 2022 and will remain halted until they are formally de-listed from the TSXV during the week of December 26, 2022. Announcement • Dec 23
Lithium Power International Limited (ASX:LPI) completed the acquisition of additional 17.14% stake in Maricunga Project from Bearing Lithium Corp. (TSXV:BRZ). Lithium Power International Limited (ASX:LPI) entered into an agreement to acquire additional 17.14% stake in Maricunga Project from Bearing Lithium Corp. (TSXV:BRZ) on June 22, 2022. LPI will issue 0.70 fully paid ordinary shares in LPI per each Bearing common share. Bearing has approximately 26 million Options and Warrants outstanding. Options and Warrants which are not exercised prior to completion of the Bearing Transaction will remain outstanding and will automatically become exercisable for LPI ordinary shares based on the Exchange Ratio, provided such Options or Warrants are exercised after completion of the Bearing Transaction. As consideration for the Bearing Transaction, LPI may issue up to approximately 76.3 million LPI shares for Bearing’s common shares on issue, and up to a maximum approximately 18.2 million LPI shares for the Options and Warrants assuming all Options and Warrants are exercised prior to completion of the Bearing Transaction. The board of directors of LPI unanimously approved the transaction. The Bearing Transaction is conditional upon Approval from Bearing securityholders of the Arrangement, Approval of the Arrangement from the Canadian court, Completion of the SBD Transaction, Bearing's dissenting shareholders shall have exercised dissent rights with respect to no more than 5% of total Bearing shares, Approval by LPI shareholders for purposes of ASX Listing Rule 7.1. In a separate transaction Lithium Power International Limited (ASX:LPI) entered into an agreement to acquire additiona 31.31% stake in Maricunga Project from Minera Salar Blanco SpA. Treadstone Resource Partners acted as strategic and financial advisor to LPI in relation to the Transactions. Ashurst acted as Australian legal advisor, Stikeman Elliott LLP acted as Canadian legaladvisor, and Pillsbury Winthrop Shaw Pittman acted as US legal advisor to LPI in relation to the Transactions. EY acted as the Australian, US and Canadian tax advisor to LPI in relation to the Transactions. As of October 28, 2022, Shareholders of Lithium Power approved the transaction. As on December 16, 2022, The transaction with Bearing for its 17.14% interest will be completed by way of a Canadian Plan of Arrangement which has been approved by Bearing Shareholders and the Canadian court. The final condition to the Bearing Transaction is the completion of the SBD Transaction. Now that the court has approved the scheme for the SBD Transaction, the completion process for the Bearing Transaction will commence. It is expected this will complete by December 22, 2022, resulting in LPI taking ownership of 100% of Maricunga. As of December 20, 2022, SBD transaction has been completed which further completed LPI's first step of Maricunga Consolidation.
Lithium Power International Limited (ASX:LPI) completed the acquisition of additional 17.14% stake in Maricunga Project from Bearing Lithium Corp. (TSXV:BRZ) on December 23, 2022. Announcement • Dec 10
Lithium Power International Limited Announces Acquisition of Water Rights for the Maricunga Project Lithium Power International Limited announced that it has completed the acquisition of water rights covering its Maricunga lithium project in Chile. With this acquisition of the 62 litres/second CAN 6 rights, the company can replace a long-term lease that it previously held for part of its water requirements. This will secure the supply for future needs of both its Stage One project and any future expansions. Owning the water rights allows LPI to control its future water consumption without the risk of external interference from third parties. The Stage One project will produce an average of 15,200 tonnes per year of highly pure, battery grade lithium carbonate and will have a low, freshwater consumption, of just 8 l/s. Announcement • Dec 08
Lithium Power International Limited (ASX:LPI) acquired Water Rights covering its Maricunga lithium project in Chile. Lithium Power International Limited (ASX:LPI) acquired Water Rights covering its Maricunga lithium project in Chile on December 8, 2022.
Lithium Power International Limited (ASX:LPI) completed the acquisition of Water Rights covering its Maricunga lithium project in Chile on December 8, 2022. Announcement • Nov 18
Lithium Power International Limited Provides Results from the Latest Optimisations Lithium Power International Limited provided the results from the latest optimisations introduced to the Maricunga lithium production process in January 2022 in the project's updated Definitive Feasibility Study. Lithium Carbonate with a 99.92%1 purity was produced from original, concentrated brine from LPI's test evaporations ponds at Maricunga. This significantly exceeds the industry standard specifications for battery grade lithium carbonate of 99.5%. A relevant test to measure the Loss of Ignition ("LOI") was also conducted for 30 minutes at 500 °C, showing an LOI of 0.2%. As a result, the purity after LOI was 99.72%. This work was executed by the independent certified laboratory, IBZ-Salzchemie GmbH & Co KG in Germany. This was done under the supervision of GEA, with the objective of producing up to 10kg of battery grade Li2CO3. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Executive Director of Corporate Finance & Director Richard Crookes was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 14
Lithium Power International Limited, Annual General Meeting, Nov 14, 2022 Lithium Power International Limited, Annual General Meeting, Nov 14, 2022, at 10:00 AUS Eastern Standard Time. Location: Level 7,151 Macquarie Street Sydney New South Wales Australia Agenda: To consider Remuneration Report; to consider Re-election of Russell Barwick as Director; to consider Re-election of Martin Borda as Director; to consider Ratification of issue of Shares under the Placement; to consider Ratification of issue of Shares to Lysander Lithium; and to consider Adoption of a New Constitution. Breakeven Date Change • Sep 15
Forecast to breakeven in 2025 The 2 analysts covering Lithium Power International expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$6.20m in 2025. Average annual earnings growth of 94% is required to achieve expected profit on schedule. Announcement • Aug 03
Lithium Power International Limited (ASX:LPI) acquired Two new tenements in the mineral rich Eastern Goldfields of WA. Lithium Power International Limited (ASX:LPI) acquired Two new tenements in the mineral rich Eastern Goldfields of WA in second quarter ending June 30, 2022.
Lithium Power International Limited (ASX:LPI) completed the acquisition of Two new tenements in the mineral rich Eastern Goldfields of WA in second quarter ending June 30, 2022. Announcement • Jul 06
Lithium Power International Limited (ASX:LPI) acquired CMC Lithium and its Greenbushes Project. for AUD 0.24 Million. Lithium Power International Limited (ASX:LPI) acquired CMC Lithium and its Greenbushes Project. for AUD 0.24 Million on June 5, 2022.
Lithium Power International Limited (ASX:LPI) completed the acquisition of CMC Lithium and its Greenbushes Project. for AUD 0.24 Million on June 5, 2022. Breakeven Date Change • Jun 30
Forecast to breakeven in 2025 The 2 analysts covering Lithium Power International expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$6.20m in 2025. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Announcement • Jun 23
Lithium Power International Limited (ASX:LPI) entered into an arm’s-length definitive agreement to acquire Bearing Lithium Corp. (TSXV:BRZ) for CAD 21.3 million. Lithium Power International Limited (ASX:LPI) entered into an arm’s-length definitive agreement to acquire Bearing Lithium Corp. (TSXV:BRZ) for CAD 21.3 million on June 21, 2022. The merger of Bearing will be structured as a plan of arrangement whereby Bearing shareholders will receive 0.7 of an LPI share for every one Bearing share held (“Exchange Ratio”) (up to 94.5 million LPI shares) 1, and in addition Bearing shareholders will receive a cash distribution (by way of a capital return) estimated at CAD 0.02 per share. In related transaction, Lithium Power International Limited entered into an definitive agreement to acquire Salar Blanco, LLC. If Bearing terminate the Arrangement Agreement, it will be required to pay LPI Termination Fees of up to CAD 2.5 million. The Transaction has been unanimously approved by the Bearing Board of Directors. The Transaction has been approved by the LPI Board of Directors. The implementation of the Transaction will be subject to the approval of at least 66.67% of the votes cast by holders of Bearing Shares. In addition to the shareholder approvals, the Transaction is also subject to the receipt of certain regulatory, court and stock exchange approvals, completion of the Salar Blanco, LLC Transaction and other closing conditions customary in transactions of this nature. Although under ASX listing rules, the Transaction would be subject to the approval of LPI shareholders. The Transaction is expected to close in September 2022. The independent financial advisor to Bearing, Sequeira Partners, has provided a fairness opinion to the Board of Directors of Bearing. DS Lawyers Canada LLP acted as legal advisors and Torretti y Cia acted as Chilean legal advisors to Bearing in relation to this transaction. Treadstone Resource Partners acted as strategic and financial advisor to LPI in relation to the Transactions. Ashurst acted as Australian legal advisor, Stikeman Elliott LLP acted as Canadian legal advisor, and Pillsbury Winthrop Shaw Pittman acted as US legal advisor to LPI in relation to the Transactions. EY acted as the Australian, US and Canadian tax advisor to LPI in relation to the Transactions. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Executive Director of Corporate Finance & Director Richard Crookes was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Jan 06
Lithium Power International Limited Updates on Extensive Lithium Exploration Programs At Blackwood and the Pilbara, Western Australia Lithium Power International Limited provided an update on activities being undertaken in Western Australia. A particular focus is immediately adjacent to the Greenbushes lithium mine, which is owned by Talison Lithium and has Albemarle Corp, Tianqi Lithium and IGO Limited as its owners. The geophysical program at the Blackwood Prospect, within E70/4774, has been successfully completed with a total of 468km of aeromagnetic data acquired by AirGeoX. The data is currently being processed to enable an advanced interpretation of the area, providing the highest detail possible of the structural architecture of the Donnybrook Shear Zone (DSZ). This will improve the understanding of where pegmatites are most likely to be located and focus the planning of soil sampling and subsequent RC drilling. The DSZ is the major structure that hosts the Greenbushes pegmatite mined by Talison. Along with its subsidiary faults, this zone does not have a strong surface expression because it is predominantly obscured by soil and/or laterite. It has been identified in the Blackwood Prospect by LPI through sampling and detailed investigation of the Geological Survey of WA’s geophysical data. The drone flew east-west lines over the area of the Blackwood Prospect taking readings of the earth’s magnetic field. A total of 422km flight line and traverse line total kilometres were flown along 154 NS lines on 40m spacing. A further 46km of EW tie lines on 400m spacing. The results of this work are being used to target areas for soil sampling and for Ground Penetrating Radar (DGPR) over identified NW faults, along which pegmatites may have intruded. Soil Sampling on Dilutional Jogs on NW structures: An orientation soil sampling program on 300m x 300m spacing has commenced at a newly defined target at the southern end of the Blackwood Prospect. Sampling is being conducted by conventional hand digging of pits and the use of a hand auger, to attempt to reach the top of the bedrock sequence. The results will be compared before completing further sampling on the Blackwood Prospect. The soil sampling is targeting interpreted NE trending dilutional jogs along the NW orientated structures. Already small outcrops of pegmatites have been identified within the dilutional jogs. Once the results of the orientation sampling have been returned, an infill program will commence. East Kirup Prospect – Greenbushes: Baseline Flora and Fauna Surveys: Two surveys have been completed to provide detailed baseline environmental information and to guide the development of a conservation management plan. These surveys are to be run over two seasons. A second field component will be completed in March 2022. Drilling Program: Drilling was scheduled to commence in mid-December 2021 but was delayed due to the drilling contractor capacity limitations. The drill pads have been prepared with work to commence in mid-January to test the combined arsenic, lithium, beryllium, tantalum and tin anomaly previously defined by both MIM sampling and the regional laterite sampling program. Pilgangoora Prospect - Soil Sampling: The soil sampling program at Pilgangoora has been completed. A total of 544 samples were collected, including 10 per cent duplicates. The sampling was aimed at closing off previously defined lithium anomalies associated with the identified greenstone belts, and also at investigating the potential of gold within a young intrusive granite and its contact aureole. This intrusive body is considered to have similarities to the Intrusive bodies where De Grey Mining has successfully defined a significant gold resource at their Mallina Project, which includes the 6+ million-ounce Hemi deposit. The samples have been dispatched for analysis, with an expected six-week turnaround time. Announcement • Aug 23
Lithium Power International Limited announced that it has received AUD 12.4 million in funding Lithium Power International Limited announced a private placement of 47,692,309 common shares at an issue price of AUD 0.26 per share for gross proceeds of AUD 12,400,000 on August 23, 2021. The transaction included participation from sophisticated and institutional investors including new and existing shareholders, located domestically and offshore. The transaction is expected to close on August 27, 2021. Recent Insider Transactions • Jun 22
Non-Executive Chairman recently bought AU$138k worth of stock On the 21st of June, David Hannon bought around 769k shares on-market at roughly AU$0.18 per share. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Announcement • May 21
Vertex Lithium Corporation acquired a 70% stake in Centenario Lithium Project from Lithium Power International Limited (ASX:LPI) for $0.95 million. Vertex Lithium Corporation acquired a 70% stake in Centenario Lithium Project from Lithium Power International Limited (ASX:LPI) for $0.95 million on May 19, 2021. The consideration includes Cash payments of $0.7 million, plus $0.04 million to cover the costs to execute the transaction and the issue of $0.21 million (CAD 0.25 million) worth of fully paid ordinary shares in Vertex.
Vertex Lithium Corporation completed the acquisition of a 70% stake in Centenario Lithium Project from Lithium Power International Limited (ASX:LPI) on May 19, 2021. Announcement • Mar 12
Lithium Power International Limited Provides Update on Exploration Activities and the Preliminary Results from the Maricunga Project, Chile Lithium Power International Limited provided an update on exploration activities and the preliminary results from the Maricunga Project, located in Chile. As announced on 27 January 2021, the company commenced additional exploration at the Maricunga Project with the aim of expanding the current resource, which is from near surface to 200m depth, to include the interval between 200m and 400m. LPI has now completed the first two of five diamond core holes (S-25 and S-26) drilled to the target depth of 400m ahead of schedule, with undisturbed core samples collected and sent for analysis for laboratory measurement of drainable porosity and other hydraulic parameters. The company has also undertaken positive preliminary field analysis which will provide valuable information. The expected geological profile has been confirmed for the interval, with the sequence of coarse grained NW Alluvial sediments, followed by the Upper Volcanoclastics, the Lower Sands and the Lower Volcanoclastics. These units confirm the existing hydrogeological model of the area, all with favorable specific yield and permeability characteristics. In addition, results from the samples collected at 12m intervals during the drilling have shown positive brine density, with preliminary measurements at the wellhead indicating high lithium concentrations, similar to the lithium concentrations found in the 0m to 200m interval. Holes S-25 and S-26 were completed as monitoring wells to a depth of 400m and will be used as observation wells during the long-term pumping test planned in adjacent production well P-5, which
is currently being drilled by Andinor which is now 30% completed, also ahead of schedule. Drilling for the project's 2019 Definitive Feasibility Study, established that there was a thick sequence of volcaniclastic material, established by MSB's historical S-19 exploration hole drilled to 362m, beneath gravel and near surface clay units in the Old Code concessions. This zone has high drainable porosity and permeability that is considerably higher than near surface units. Expansion of the resource would result in expansion of the project brine reserve, supporting the projected 20 year-plus mine life for the project. Optimisation of the production process continues with GEA Messo in Germany, with basic engineering already commenced for the re-sizing of the plant. Detailed scope of work for Worley already defined. Activities expected to commence during April. Announcement • Feb 12
Lithium Power International Limited Provides Update on Greenbushes Lithium Exploration Program in Western Australia Lithium Power International Limited provided update progress on exploration activities in Western Australia, focused on the company's Greenbushes project in the south-west of the State. The project is wholly-owned by the company and is adjacent to the world's highest grade spodumene lithium mine, which is owned and operated by major producers Albemarle and Tianqi. The northern Greenbushes tenement, Balingup, covers 315 km2 directly adjacent to the Greenbushes mine block owned by Talison. The tenement has an approved program of works and an environmental management plan for activities in State Forest areas. The Greenbushes mine is the centre of a 20km by 12km zone of elevated laterite geochemistry around pegmatites in the mine trend and identified in published studies. Elements with elevated values in laterite around the Greenbushes mine include arsenic, tin, tantalum, antimony, lithium, boron and beryllium. Studies of the distribution of arsenic in laterite suggest this is a particularly significant indicator element. Follow up laterite sampling at the Balingup Tenement, E70/4763, has commenced. Previous laterite sampling by LPI identified zones with significantly elevated geochemistry. This includes the Balingup East target, with strongly elevated arsenic in laterite and elevated Sn, Cs, Bi, Nb, Rb and Sb along the Donnybrook-Bridgetown Shear Zone. This strong arsenic geochemistry identified by LPI defines a northern extension of the strong arsenic geochemistry identified by historical laterite geochemistry on the Greenbushes mine site. The company has also mapped pegmatites outcropping in this area. The East Kirup Prospect is also associated with a north-west trending arsenic anomaly within laterite and soil. The prospect was originally defined by close spaced MMI sampling over the DB Shear Zone. Mapping has shown that rocks similar to those that host the main Greenbushes Pegmatite outcrop within the East Kirup Prospect. Limited historical drilling by Red River Resources on this tenement also defined the presence of these host rocks in the zone of lithium enrichment. To the east of the East Kirup Prospect is the Thomas A Prospect. This area contains historically mapped pegmatites which, on surface, are rich in kaolinite. The laterite sampling has shown that the area has anomalous arsenic. Thirty four laterite samples will be taken in the areas covered in the Smith 1987 work to check the As values and to complete evaluation of the anomaly. Detailed laterite sampling and additional mapping is underway at the East Kirup Prospect and Thomas A Prospect in addition to the East Balingup Zone. This will better define the areas of elevated arsenic and lithium multi-element geochemistry, in order to define the complex zones of alteration associated with LCT pegmatites and allow definition of drill targets. The infill sampling will consist of 270 samples at 100m spacings. Concurrent with the infill sampling, a broad regional program of laterite sampling is being conducted. This will fully evaluate parts of the northern tenement where no work was done in the 2019-2020 works program. The regional sampling will consist of 70 samples. Field sampling work is expected be completed by the end of first quarter of 2021, with results assessed to enable further POW's to be submitted for approval. Announcement • Jan 28
Lithium Power International Limited Provides an Update on the Working Program for its Maricunga Lithium Brine Project in Chile Lithium Power International Limited is providing an update on the working program for its Maricunga Lithium Brine Project in Chile. The company's proposed Maricunga Stage One has a nameplate capacity of 15,000 tonnes per annum of lithium carbonate production, with significant future expansion potential from subsequent stages. The Maricunga project, the highest-grade, undeveloped lithium project in Chile, is managed by Minera Salar Blanco (MSB), which is owned by LPI (51%), Borda Group (31%) and Bearing Lithium (18%). A new field program will be undertaken from February 2021 to update detailed engineering work to
re-size and optimise the revised Maricunga Stage One development. The program consists of 2,400m of drilling, along with sampling and hydraulic testing activities. Additionally, conceptual and numerical hydro-geological models including LEAPFROG, SGeMS and FEFLOW will be updated by Atacama Waters (formerly FloSolution) with the new exploration information and all existing information from the Definitive Feasibility Study. Is New 90 Day High Low • Jan 19
New 90-day high: AU$0.36 The company is up 76% from its price of AU$0.20 on 21 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 20% over the same period. Announcement • Jan 08
Lithium Power International Limited to Recommence Exploration Activity Adjacent to the Greenbushes Lithium Mine Lithium Power International Limited provided an update on its exploration strategy in Western Australia, focused on the company's Greenbushes project in the south-west of the state. The project is wholly-owned by LPI and is located adjacent to the grade spodumene lithium mine. LPI wishes to update shareholders regarding the reactivation of the company's Western Australian exploration projects. They have been on hold during most of 2020 due to Covid restrictions and low lithium prices. The company now seeing substantial improvement in current and forecast demand for lithium, with prices forecast to increase during 2021 and beyond. LPI is, therefore, recommencing exploration in Western Australia with the primary focus on the Greenbushes project in the State's south-west. As a reminder of the pedigree of the world class Greenbushes lithium mine, note the announcement on 9 December 2020 by IGO Limited (previously Independence Group) regarding a USD 1.4bn acquisition of a 24.99% indirect interest from lithium major Tianqi at the adjacent Greenbushes mine, plus a 49% interest in the associated lithium hydroxide plant being constructed in Kwinana, south of Perth. This major acquisition highlights the scale of the Greenbushes mine and the attractiveness of WA lithium projects to supply battery materials. Lithium demand is accelerating as countries set time frames to phase out internal combustion engines in favour of EVs. Impetus is also being provided by the increasing usage of lithium batteries as grid electricity storage becomes an integral part of renewable energy systems. The Greenbushes tenements extend over 398 km in the South West of WA are located in the vicinity of international port facilities and in close proximity to an experienced workforce, electricity infrastructure, paved roads and potential water supplies. The Greenbushes project consists of two tenements, the northern tenement (Balingup) covers 315 km directly adjacent to the Greenbushes mine block owned by Albemarle and Tanqui. The southern tenement (Brockman) covers 83 km2 located further south along a continuation of the Greenbushes mine stratigraphy. The tenements have an approved program of works (2020) and an environmental management plan for activities in State Forest areas. The Greenbushes mine is the centre of a 20 km by 12 km zone of elevated laterite geochemistry around pegmatites in the mine trend, identified in published studies. Elements with elevated values in laterite around the Greenbushes mine include arsenic, tin, tantalum, antimony, lithium, boron and beryllium. Studies of the distribution of arsenic in soils suggest this is a particularly significant indicator element. Previous exploration activities by LPI during 2019 included an extensive laterite sampling campaign and surface mapping over the Balingup tenement, with samples taken at 300 m centres along east-west lines separated by between 1 and 2 km in a north to south direction. Sampling identified additional zones with significantly elevated geochemistry. Of particular interest is the Balingup East target within the LPI tenement, with strongly elevated arsenic in laterite (to >500 ppm) along the Donnybrook-Bridgetown (DB) Shear Zone. This strong arsenic geochemistry identified by LPI defines a northern extension of the strong arsenic geochemistry identified by historical laterite geochemistry on the Greenbushes mine site (Smith, et. al., 1987, Journal of Geochemical Exploration, 29, p251-265). LPI has also mapped pegmatites outcropping in this area. More detailed laterite sampling and additional mapping is planned for the areas with elevated geochemistry, prior to undertaking drilling. Announcement • Dec 17
Lithium Power International Limited announced that it expects to receive AUD 8 million in funding Lithium Power International Limited (ASX:LPI) announced a private placement of 36,363,636 common shares at a price of AUD 0.22 per share for gross proceeds of AUD 7,999,999.92 on December 16, 2020. The transaction will include participation from existing and new sophisticated and institutional investors. The company will issue 35,000,000 shares in first tranche, expected to be closed on December 22, 2020 and 1,363,636 shares in second tranche, expected to be closed in late February or March 2021. The second tranche is subject to shareholder approval at an Extraordinary General Meeting expected to be held in February 2021. Is New 90 Day High Low • Nov 09
New 90-day high: AU$0.23 The company is up 27% from its price of AU$0.18 on 11 August 2020. The Australian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 7.0% over the same period. 