Ann: Update on Centenario Lithium Project Sale, page-66

Having read a large number of Chilean media articles in recent months, it seems SQM has a fair bit of dirty linen domestically and overseas. This is probably a smokescreen, but Codelco cites domestic and international litigation involving SQM as a reason why a Codelco - SQM partnership on the Maricunga would not work. In reality, LPI/MSB has the best on and off salar ground combination on the Maricunga and Codelco's best chance of entry into lithium production is with us.