http://hallgartenco.com/file.php?path=Battery&filename=Bearing_Li...

http://hallgartenco.com/file.php?path=Battery&filename=Bearing_Lithium_March2019.pdf

Recent report on BRZ - Bearing’s fate is inextricably tied up with the actions and fate of Lithium Power International. Noamount of window-dressing will change this. That Bearing has not sought out other assets or pursuedother opportunities would signal that it lives on in the hope that LPI will take it out, or that some otherstrategic partner that LPI might bring on board will seek to bolster its position by taking out Bearing. Inall scenarios Bearing is reduced to a passive entity waiting for something to happen to it.

The issue here is does one bet on the driver (LPI) of the race-car or on the passenger (Bearing) in theback seat? LPI has a majority of the shares and management of the project. It’s LPI that a buyer of theasset must bargain with. The best Bearing can hope for is to be a playing piece for a passive investor toacquire and get positioned. Such positioning will need to come soon as Bearing also faces the danger,from here on out, of dilution as the partners must fund pro-rata their share of the future developmentand Bearing is not exactly cashed up. Beyond this, on a valuation per percentage point of exposure tothe project, LPI is cheaper than Bearing at the current time

However we reiterate our Long position inLithium Power International as the preferred exposure to the evolution of the Chilean Lithium industry

We remain bullish on a Lithium price turnaround and would subscribe to these Roskill projections on thelikely price progression of the mineral.

Side information about Minera Salar Blanco's owner, Martin BordaMingo: Martin is Executive Director & Founding Partner at Multiexport Foods SA, Chairman at SalmonesMultiexport SA, and Chairman at Multiexport Pacific Farms S.A. He is regarded as the “king” of Chileansalmon farmers and seaweed/algae processors.He is on the Board of Directors at Multiexport Foods SA, Cia Molinera San Cristobal SA, and AlimentosMultiexport Ltda. He also served on the board at Scotiabank Chile, which is the latest incarnation ofBanco Sudamericano that his family sold to Bank of Nova Scotia. The family, of Basque origins, were alsothe largest bread bakers in the country until they sold those interests over to Grupo Bimbo of Mexico.In the relatively tightly-knit heights of the Chilean economy his connections have proved to beindispensable for advancing the project thus far (and into the development phase).

The report was about BRZ, but basically says LPI is better.

@jusdoit7 remember that our announcements were steller in Q1 2019 (Excellent DFS) - the SP did not reflect this , mainly because of the MACRO environment towards lithium. From April - June (Q2) we should get more drilling results from our WA assets, and more detail from EIA (possibly completion of EIA), 60/40 for funding information. The litio tenement is irrelevant until 2025. If nothing or little has happened by the end of Q2 2019 I will voice my concerns with LPI management (though I highly doubt it). Is @TheGekko still here?