Resource developments, no matter how they are dressed up from...

Resource developments, no matter how they are dressed up from one company to another, are a long term game, and at the heart of EVERY development is the resource and its quality. If the project is based on a top shelf resource, the rest usually takes care of itself one way or another over time.

Just say that LPI/MSB reaches its forecast upper exploration limit of 4.65 million tonnes LCE, and there is a strong chance given the resource it expected to continue to a depth of 500 metres and possibly beyond, then the in-ground value of the Maricunga resource using current long term contract prices is greater than US$60 billion.

What is more promising is that the market value of an expanded Maricunga resource using the lesser quality Sal de Vida North resource as a benchmark is around US$681 million - using a lower average Maricunga grade of 1000mg/l Li and not exacting a premium for Maricunga given its more geographically compact and richer resource - the Sal de Vida North resource is spread over an area five times the size of Maricunga.

In addition to ready access to transport and energy infrastructure, there is the large parcel of flat, slightly elevated off-salar land LPI/MSB holds adjacent to its salar tenements for its proposed development. This is a priceless asset, which not many lithium hopefuls have a luxury of possessing. This is why I sleep very easy at night in regard to my long-term LPI investment.

I would be happier if LPI shareholders were better informed on progress at Maricunga, but feel the residual sensitivities attached to LPI/MSB's recent legal case in Chile require a prudent, measured approach to getting on with the job in that country. Remember, the ASX announcement of 9 July 2018 on resolution of the Litio CEOL issue did confirm LPI/MSB's intention to work closely with the Chilean Government on development of the Maricunga salar. It seems they are not grandstanding, but quietly progressing development of a very large and complex project. Hopefully they will announce something soon.

Try and stay glass half full as there are good times ahead. Patience required.