Lithium Power International Ltd Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Sydney, Jan 31, 2019 AEST (ABN Newswire) - Lithium Power International Limited (googlechartASX:LPI) (googlechartLTHHF:OTCMKTS) (LPI or the Company) is pleased to submit its quarterly Activity Report for the period ended 31 December 2018.

HIGHLIGHTS

- Engineering Consultants WorleyParsons completed the Definitive Feasibility Study (DFS) for the Maricunga Lithium Brine Project, which was released on 22 January 2019.

- The DFS presents a possible 100% equity, pre-tax NPV of US$1.286b and an IRR of 23.8%.

- It forecasts a total CAPEX of US$563m, which includes direct development costs estimated at US$456m inclusive of 20% VAT (recoverable once in production), indirect costs of US$45m and contingency costs of US$63m.

- Project operating costs are estimated at US$3,772 per tonne of Lithium Carbonate Equivalent (LCE), without offset income from sales of the potassium chloride (KCI) by-product.

- The DFS predicts a very robust project for what is Chile's highest grade and most advanced lithium project outside of the Salar de Atacama. Production would be a high-value battery-grade lithium carbonate, unlike many of the lithium hard rock projects under development.

- The maiden Ore Reserve estimate, prepared in accordance with JORC and NI 43-101 international standards, was released on 21 January 2019. It was a total of 742,000 tonnes of LCE,(see Note below) which exceeds the 20-year project mine life production needs.

- The Maricunga project's EIA successfully passed the initial 45-day assessment period, and the Chilean Government is now carrying out an exhaustive assessment expected to be concluded in 2019.

- Approval was received to take the required 14.6 MW of power from a sub-station at the nearby La Coipa gold mine, including the use of power lines leading to the Maricunga Salar.

- The Company finalised details of the project's water supply, with an important groundwater source located in the east of the Maricunga Salar basin.

- Discussions with major Chilean and international financial institutions to secure project development finance have commenced and are expected to be finalized during 2019. Approaches from international companies have also been received regarding off-take agreements and future participation.

- The Company continues to work closely with the Chilean Government and other corporate bodies to finalize all remaining licenses, agreements and operational relationships.

- In Western Australia, an extensive soil sampling program over the Tabba Tabba property identified a 4.3 km long area of elevated lithium and tantalum, with Li2O values up to 689 ppm. A full development program for the asset is progressing and is expected to be announced by the end of first quarter 2019. An initial exploration drilling program is likely to commence early in Q219, following Western Australia's wet season.

- A large conductive target has been defined in an electromagnetic survey (TEM) at the Centenario project in Argentina. An internal assessment for the next stages of exploration is currently being conducted.

- Mr Cristobal Garcia-Huidobro was appointed Chief Executive Officer (CEO) and Managing Director of the Company on 16 October 2018. This is a natural extension of his role as CEO of the Chilean Joint Venture Company, Minera Salar Blanco S.A.

- Mr Richard Crookes was appointed Executive Director - Corporate Finance on 25 October 2018. He has a key focus to ensure that the Maricunga project is appropriately funded and that key strategic partnerships, including possible off-take agreements, are secured as the project moves into the development phase.

Note: After 58% lithium process recovery efficiency, the total recovered Reserve is 430,000 tonnes LCE (118,000 tonnes Proved - 313,000 Probable).

To view the full report, please visit:
http://abnnewswire.net/lnk/H4G97408


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.

https://twitter.com/LithiumPowerLPI https://www.linkedin.com/company-beta/17892940?pathWildcard=17892940 abnnewswire.com 


Contact

Cristobal Garcia-Huidobro - CEO
Lithium Power International
E: info@lithiumpowerinternational.com
Ph: +61-2-9276-1245
www.lithiumpowerinternational.com
Twitter: @LithiumPowerLPI



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