Ann: Corporate Update, page-5

Might not have been anything new in the report, but the metrics of this project do highlight the massive upside potential. Patience has been tested many times, but the numbers make for a timely reminder that 22 cents is bloody good buying. I’ve held for several years, like many here, and would’ve loved to have been only entering the bulk of my buying now. 

Maricunga development

▪ LPI owns 51% of the world class Maricunga lithium brine development.
▪ Maricunga is Chile’s highest grade and most advanced lithium project outside the Salar de Atacama.▪ Definitive Feasibility Study (DFS) by WorleyParsons supports 20,000 tonnes per annum production of LCE over 20 years.
▪ DFS shows pre-tax NPV of US$1.302 billion and IRR of 29.8% assuming a 50% debt/equity ratio (after-tax NPV of US$940 million, IRR 26.7%). On a 100% Equity Basis, NPV of US$1.286 billion, IRR of 23.8%.
▪ Forecast CAPEX of US$563 million includes direct development costs of US$456 million, indirect costs of US$45 million and contingencies of US$63 m