Lithium Power International Ltd Stock Market Press Releases and Company Profile
Chairman's Address to Shareholders
Chairman's Address to Shareholders

Sydney, Nov 28, 2018 AEST (ABN Newswire) - Lithium Power International Ltd (googlechartASX:LPI) (googlechartLTHHF:OTCMKTS) provides the Company's Chairman Address to Shareholders.

Ladies and gentlemen, welcome to Lithium Power International Limited's Annual General Meeting for 2018.

My name is David Hannon and I will chair the meeting today.

I would like to introduce you to the Company's Executive Directors:

- Cristobal Garcia-Huidobro;

- Richard Crookes;

- Andrew Phillips;

And its Non-Executive Directors

- Russell Barwick;

- Ricky Fertig; and

- Martin Borda

I would also like to introduce you to Scott Nichols representing the Company's auditors EY.

This is my second Annual General Meeting as Chairman of the Company and over the past twelve months, LPI's primary focus has been on the exploration and development of our flagship Maricunga project through our joint venture company MSB.

The Company has contributed significant funds throughout the year to MSB to complete the earn-in to the Maricunga project.

In January 2018 we released the Preliminary Economic Assessment Study (PEA). Due to the excellent results documented in the PEA the decision was made to bring forward the Company's final earn-in payments, under the Investment Agreement.

This, in effect, allowed the Company to complete its earn-in obligations and make us a fully paid up 50% shareholder of MSB in February 2018.

In August 2018 LPI acquired an additional 1% of MSB, bringing our interest to 51% showing our commitment to the joint venture company.

MSB submitted the Environmental Impact Assessment (EIA) for Maricunga in September 2018. This moved through the first part of the approval process on 26 November 2018 and now enters into the more comprehensive "page by page" approval process. With 11,400 pages to review, an approval will follow a comprehensive review process.

We are on track to complete the Definitive Feasibility Study (DFS) in December 2018.

We made positive steps toward the awarding of all required licences, and other strategic relationships within the Chilean business environment which will further enhance and de-risk the Maricunga project. As with all corporate to corporate and corporate to government negotiations, these things take time but we anticipate these to be finalised in the first half of 2019.

Outside the Chile project, we have finalised a 70/30 joint venture for our Argentine Centenario Salar project, with Centenario Lithium Limited. We have completed a pre-drilling exploration program accompanied with all the necessary permitting requirements relating to the Centenario Project and expect to commence a drilling program in 2019.

Our Western Australian properties show promise, particularly Tabba Tabba and the Pilgangoora. We have completed extensive assessments for possible exploration drilling targets and further announcements will be made in early 2019.

In October 2018 we were pleased to announce the appointment of Non-Executive Director Cristobal Garcia-Huidobro as Managing Director and Chief Executive Officer of the Company. Mr Garcia-Huidobro will continue as the CEO and Director of MSB. Mr Garcia-Huidobro has an excellent reputation and a strong network in Chile and his appointment has been approved by LPI's joint venture partners in MSB.

We were also delighted to announce the appointment of Richard Crookes as Executive Director - Corporate Finance in October 2018. Mr Crookes is a highly regarded and well-known resource industry and investment professional in Australia, with more than 30 years' experience in the mining and finance sectors. He has a unique blend of broad resource industry operations experience coupled with a successful career in mining finances and investment management.

The Company also added Mr Martin Borda to its Board in September 2018, in order to further enhance its relationship with MSB. Mr Borda is the owner of LPI's Chilean joint venture partner. LPI will continue to put the right people in the right place at the right time as the Company advances the Maricunga Project and its other assets.

We would like to acknowledge the efforts of our founding CEO, Martin Holland, who departed the Company in June 2018. Martin was instrumental to the growth and success of the Company. We would also like to acknowledge the efforts of Dr Luis Ignacio Silva, who resigned from the Board in September 2018.

In the new year we will update the market on a number of strategic and operational matters that both LPI and MSB have underway. LPI looks forward to an exciting 2019.

To view Annual General Meeting and Investor Meetings Presentation, please visit:
http://abnnewswire.net/lnk/C02JR352


About Lithium Power International Ltd

Lithium Power InternationalLithium Power International Limited (ASX:LPI) is a pure play lithium company with three distinct project regions to provide diversification. One is located in South America's brine region and three are in Australia's spodumene hard rock areas of Western Australia.

The primary focus is to develop of Chile's next high-grade lithium mine on the Maricunga Salar in an area known as the Lithium Triangle. The Company has also expanded its tenement holdings of lithium exploration prospects in Western Australia.

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Contact

Lithium Power International Ltd
WWW: www.lithiumpowerinternational.com



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