Definitely could have been a better raise after the resource upgrade mid next month. However, this is getting eerily similar to GLN's situation last year. We all know GLN 10 bagged in less than a year but before the rise, GLN shareholders were also frustrated that the high grade lithium resource in Hombre Muerto West was not appreciated by the market, price was in doldrum.
Galan Lithium 12th October 2020 - GLN raised $3m at 13c 17th November 2020 - GLN announced resource upgrade at HMW, which was the spark of a spectacular rise that 10bagged the share in a year.
LPI is also cap raising about a month before the intended resource upgrade. And a slew of upcoming announcements that will support the rise.
- Sep 2021 Maricunga Resource upgrade - Nov 2021 DFS update and ESG certification - Dec 2021 Drilling at Greenbushes tenements - Jan-Feb 2021 Offtake and financing finalized with Mitsui Construction to commence immediately after financing is done.
After all, Maricunga is the highest grade undeveloped lithium brine project in the world at grade of 1127mg/l li.
We shall see if the same will happen to LPI. Goodluck to all shareholders.
LPI Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
