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.
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.
Resources Analyst, Money Morning
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