Lithium Power International Share Price Rises by 1.69%

Shares of Lithium Power International Limited [ASX:LPI] are trading at 29.5 cents. That’s a 1.69% increase, today.

LPI are a business interested in the acquisition and advancement of promising lithium projects.

Settlement brings investing opportunity for LPI

Although the share price of LPI increased by 1.69% today, it hasn’t been so positive recently. Its gradually falling share price might have something to do with the legal proceedings over the Maricunga lithium mining concessions, which began in early 2018.

The legal proceedings related to LPI’s joint venture with company Minera Salar Blanco (MSB) and its ability to formally request a Special Lithium Operation Contract (CEOL), which saw new mining-coded concessions to an unrelated third party.

Battery Boom: Three Aussie rare-earth stocks powering the global battery frenzy. Get your free report now.

But this is likely to change after MSB, operator for the Maricunga lithium project in Chile, agreed to cease legal action against the Chilean government last week.

This is due to a positive response from the Ministry of Mines of Chile, and the meetings between them and MSB’s management.

An official letter from the Ministry dated 28 June 2018 confirmed MSB’s alibility to formally request a CEOL be granted for mining concession on the Salar de Maricunga for future exploration.

Future developments for Lithium Power International

LPI’s chairman, David Hannon, said that the next submission of CEOL applications was a positive development for MSB and coupled with the permits in place on old code mining concessions, would pave the way to further development of the Maricunga project.

We look forward to advancing the overall Maricunga project development as we also finalise other operational and strategic initiatives for LPI,’ he said.

Regards,

Jason Stevenson,
Resources Analyst, Money Morning

PS: Interested in lithium? But don’t want caught in the mainstream market shortfall? I have three speculate lithium punts that could make you wealthier, as the demand for batteries reaches fever pitch. I’ll tell you why now is the time to buy lithium stocks, and which to look at. To download this free report ‘Why Lithium is Your Best Speculative Bet Today’, click here.


Money Morning is Australia’s most outspoken financial news service. Your Money Morning editorial team are not afraid to tell it like it is. From calling out politicians to taking on the housing industry, our aim is to cut through the hype and BS to help you make sense of the stories that make a difference to your wealth. Whether you agree with us or not, you’ll find our common-sense, thought provoking arguments well worth a read.

Money Morning Australia is published by Port Phillip Publishing, an independent financial publisher based in Melbourne, Australia. As an Australian financial services license holder we are subject to the regulations and laws of Corporations Act and Financial Services Act.


Leave a Reply

Your email address will not be published. Required fields are marked *

Money Morning Australia