The Ministry of Mining accepted application from CODELCO to extend CEOL, page-289

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Arcpro

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10/05/23

08:07

Post #: 67691230
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Originally posted by thecrabpest: ↑

Thanks very much for this.

The language, translation and lack of detail in the response make it difficult for a lay person to get a clear understanding.

The company (once again) need to come out and clarify what the situation is.

I invested in this company based on the "fact" they have stated multiple times that they are fully permitted and shovel ready - but there seems to be a differing of opinion to this claim within parts of the government.

If they are fully permitted and have letters of intent for 70% of funding, an IRR of about 40% and stage 1 NPV of $1.4B USD, then why will funding take until the end of the year (as highlighted above)?

I do appreciate the courts have determined in favour of LPI so far, but the government seem persistent and somewhat convinced they are right in challenging us.

If I recall correctly, in the appeal determination, the judgement said something to the effect of "there's ambiguity in the language in the old code, and despite the clarity of the new code, it could have negative consequences if the old code concessions were to be retrospectively re-classified and taken away from current holders".

Now I'm not sure how many other companies are in the same position as us (i.e. holders of pre 78 concessions, but I'm guessing it's none to a handful at most), but it feels like even in the courts there is at least some sort of acknowledgement that there's an element of truth to the position of the government.

I would like to know how many more claims and appeals the government can legally pursue. It's unlikely a determination in our favour this week would make the end of this saga.

$ALB and $SQM are up 5% and 2.6% respectively.

Let's see what happens today, but this is definitely weighing on the company and share price because we are underperforming relative to others and what the lithium price are doing.

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Are you saying the Company is laying and the DFS is wrong??

LPI Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
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The Ministry of Mining accepted application from CODELCO to extend CEOL, page-289

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