Codelco offering $1.22/share for buyout, page-16

Boric's instruction is clear: get the lithium project up and running as soon as possible. If Codelco does not secure a deal with LPI one way or another, Chile will not see a new lithium project this decade. This will leave Boric embarrassed come election time and the media would be over him like a rash.

LPI has the luxury of playing the waiting game as they have $40 million in the bank, and Codelco is aware of this fact. This is arguably one of the reasons we sold the WA assets—to have financial backup during negotiations. Let's face it, a price of $1+ for both Stage 1 and Stage 2 is an absolute steal for Codelco. This acquisition would propel them five years into the future in terms of their total holding asset, enabling them to commence construction this year should they acquire LPI. With the purchase of LPI, they would secure the land, the Environmental Impact Assessment (EIA), and freshwater usage rights.

Time is in LPI's favor not so much for Codelco. Boric/Chile and Codelco needs a win in lithium, and the best way for a win is if they engage with LPI for a win/win deal.