Agree Zdog, it will be all about what comes out of the commercial negotiations between Codelco, LPI, MSB and BRZ that will finally allay any nagging concerns some investors may have A solid day yesterday and I was not expecting a major pump - plenty of holders who bought in earlier this year in the 20s would have offloaded.
I agree with you that Codelco and LPI/MSB having been collaborating for some time. I am very sure the delay in lodgement of the EIA in 2018 was to amend the submission to accomodate a larger and scalable development and yesterday's eventuality. It was always going to happen in lieu of the failed Maricunga tender process involving Codelco. I think this time they should get it right, but only if Codelco play a straight bat with the commercial negotiations.
I dont like making price predictions and normally refer to project NPVs as a long term benchmark. I see the price of LPI grinding slowly upwards over time on progress with the project.
I am not sure if the Maricunga project can accomodate four players and would not be surprised to see a buy-out or two involving MSB and BRZ. LPI could swallow both, but it makes sense for LPI to take out MSB, as Martin Borda is in both camps. Time will tell.
After the recent stuff ups with the Atacama downstream tender, the Chilean Government knows that the eyes of the lithium world are now well and truly fixed on them to see if they can get this one right. The Mining Minister Baldo Prokurica is on the Board of Codelco and I am sure he will try to ensure that the outcome of this public private partnership ends well for all stakeholders.
Patience required.
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