Lithium Power International (ASX: LPI)

Announced that it has signed agreements to significantly increase its tenement holdings in Western Australia.

The acquisitions significantly increase its ground position in the Greenbushes Area, making it the largest holder of ground along the Donnybrook-Bridgetown Shear Zone.  […] 

 

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Lithium Power Intl.	ASX : LPI
Stage	Exploration
Metals	Lithium
Market cap	A$162 m   @ A$0.46
Location	Maricunga, Chile, Pilbara, and Western Australia

 

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Lithium Power International Acquire new Ground in Western Australia prior to demerger

 

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Lithium Power International Limited (ASX:LPI) ( “LPI” or “the Company”) is pleased to announce that it has signed agreements to significantly increase its tenement holdings in Western Australia.

The acquisitions significantly increase its ground position in the Greenbushes Area, making it the largest holder of ground along the Donnybrook-Bridgetown Shear Zone.

The acquisitions also diversify its geographic footprint in WA, by obtaining tenements in the Eastern Goldfields region.

These acquisitions support the Company’s ability to demerge its WA assets into a separate company, Western Lithium Ltd (announced on 12 January 2022).

The Company’s strategy is focused on unlocking the value of these assets, most likely through an ASX listing in Q4 2022.

This strategy and the timing of the potential demerger and listing of Western Lithium Ltd will allow LPI to focus in Q3 2022 on the consolidation of ownership of its flagship Chilean joint venture company, Minera Salar Blanco S.A. (announced on the ASX on 22 June 2022), and the continued development of the Maricunga Lithium Project in Chile.

The demerger and listing process of Western Lithium is being targeted for completion in Q4 2022, subject to market conditions and final approvals from ASX, ASIC, ATO and LPI shareholders

 

 

Lithium Power International management comments

“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.

 

“These properties are in highly prospectively areas of both the Greenbushes region and Eastern Goldfields in the vicinity of large known deposits.

 

“We look forward to work commencing on these exciting properties.”

.Lithium Power International CEO, Cristobal Garcia-Huidobro

 

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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Disclosure

At the time of writing the author does not hold shares in Lithium Power International.

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