There have been some comments in the forum about Lithium Power and the Salar of Maricunga.
LIP is a regurgitation of the failed Li3 Energy Inc (LIEG:OTC) an abysmal failure that managed to destroy every cent it ever got from investors, has been “trading” consistently at US$0.02±0.007 for the last three years and is now at the end of the road: according to their latest report they don't have a cent left (see https://biz.yahoo.com/e/160516/lieg10-q.html)
Most of LIP ‘tenements’ – which are no such – were those previously ‘owned’ by Li3 who even got a NI43.101 Technical Report that said nothing new and repeated ad-nauseum exploration done by the Chilean government decades ago and widely availalble in the public domain.
It is the same report based upon which LIP asserts they have ‘measured’ resources – which they have not.
To those LI3 ‘tenements,’ LIP has added another three claims, Salamina, Despreciado and San Francisco, that are NOT in the Salar! If one looks at the map in the presentation, they are up in the mountain, on solid rock, not in the brine-containing Salar. Perhaps they have spodumene? Lepidolite? Jadarite? Please...!!!
Ignoring the high Mg to Li ratio, the high boron content of the brines and the whole rest of the technical complications they will face, LIP has one major problem: it owns nothing and has no right to mine Li in the Salar de Maricunga, nor is likely to get government permission to do so in the next century or so.
In the words of Luis Sáenz, CEO of Li3, “The reality is that while Chile is today the world's leading lithium producer of lithium ... the current legislation prevents that new projects could produce and compete in international markets." (Letter to the Editor, Financial Daily, Santiago de Chile, Friday 13 January 2012) Nothing whatsoever has changed since that letter was published.
LIP is one of those companies that put the ‘lithium’ word in their name and, plagiarizing Pierpoint, "mine the market."
In a bubble like this one, almost anything goes.
So, please relax and be patient: at the end of the day only the real players will be there and shareholders will be rewarded for our patience.
Cassandra, qui non credirunt
- Forums
- ASX - By Stock
- AGY
- Mining the Market
Mining the Market
-
- There are more pages in this discussion • 148 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AGY (ASX) to my watchlist
|
|||||
Last
3.8¢ |
Change
0.001(2.70%) |
Mkt cap ! $55.32M |
Open | High | Low | Value | Volume |
3.9¢ | 3.9¢ | 3.7¢ | $31.67K | 833.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 1225723 | 3.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.9¢ | 350921 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
15 | 1144642 | 0.037 |
8 | 1278546 | 0.036 |
28 | 4132797 | 0.035 |
11 | 1596154 | 0.034 |
13 | 2513451 | 0.033 |
Price($) | Vol. | No. |
---|---|---|
0.039 | 350921 | 3 |
0.040 | 1030203 | 10 |
0.041 | 473155 | 4 |
0.042 | 522580 | 7 |
0.043 | 46146 | 2 |
Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
Featured News
AGY (ASX) Chart |