Lithium Power International Ltd: Annual Report to Shareholders
Sydney, Australia - Lithium Power International Ltd. (ASX:LPI) (FRA:24L) (OTCMKTS:LTHHF) is a pure-play lithium company. Its primary focus is on the development of Chile's next high-grade lithium mine on the Maricunga Salar in the area known as the Lithium Triangle. During the 2019 financial year, the Company also continued its initial exploration of lithium tenements held in Western Australia and Argentina, together with maintaining the properties and ensuring all property commitments were met.The Company has four distinct project regions, two in South America's lithium brine region and two in Western Australia's spodumene hard rock. This is consistent with our stated strategy of being a diversified lithium developer in both geography and geology.
FINANCIAL OVERVIEW - DEFINITIVE FEASIBILITY STUDY
The Company released its Definitive Feasibility Study (DFS) in January 2019. It was prepared on the Mining Reserve estimate of 742,000 tonnes of LCE (203,000 Proved and 539,000 Probable), supporting the 20,000 tonnes per annum (t/a) projected for Maricunga throughout its 20-year mine life (Table 4 above). Resources have been updated to a total of 2,070,000 tonnes of LCE, and all are classified as Measured or Indicated (Table 1 above). Both the Reserve and Resource estimates are prepared in accordance with JORC and NI 43-101 international reporting standards.
The strong economics of the project confirms its attractiveness, with a leveraged NPV on a pre-tax basis (8% discount) of US$1.302 billion, providing an IRR of 29.8 per cent and a payback of 3.5 years. On a pure equity basis, the NPV is US$1.286 billion with an IRR of 23.8 per cent.
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About Lithium Power International Ltd:
Lithium Power International Ltd. (ASX:LPI) (FRA:24L) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile.
LPI has a well known performing technical team with the experience to take the Maricunga project all the way through the development stages to production.
The regions that LPI is currently focussed on are:
1. Maricunga JV (Chile) – On 13th September 2016, Lithium Power announced the creation of a new JV to develop the world-class Maricunga lithium brine deposit in northern Chile.
2. Pilbara (Western Australia) – LPI has one granted exploration tenement and two pending exploration applications covering 203km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is at Pilgangoora-Houston Creek is 2-3km west of the Pilbara Minerals (PLS.ASX) and Altura Mining (AJM.ASX) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world’s largest hard rock lithium mine owned & operated by Tianqi/Talison.
4. Centenario (Argentina) –Through its Argentinian subsidiary, Lithium Power holds a total of 6 granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the 6 granted tenements cover an area of 61.52km2. In addition, there is 1 further tenement in the grant review stage.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenement which is the subject of review by the Argentinian mining authorities).
Source:
Lithium Power International Ltd.
Contact:
Cristobal Garcia-Huidobro - CEO Lithium Power International E: info@lithiumpowerinternational.com Ph: +61-2-9276-1245 www.lithiumpowerinternational.com Twitter: @LithiumPowerLPI