Ann: Chairman's Address to Shareholders, page-5

I am not an expert however based on their two previous round of reviews, the third round follow the same process. I work in Government sector, this is purely process driven.

Round 1
Step 1: MSB provide their Environmental Impact Assessment to all relevant Agencies for review and feedback.
Step 2: MSB consolidate all the feedback and submit the addendum to the Agencies that required further clarifications.

Round 2
Same process however the information the Agencies requested become less and less after every round of reviews.

Round 3 (Final round)
Step 1: SEA representatives facilitated meetings between MSB, Agencies that require further clarifications and experts in their respected areas. This process concluded by 15th November 2020. During these meetings all parties can discuss and negotiate on the solutions.
Step 2: MSB submitted the addendum on 22/11/2019 based on the outcomes of these meetings.
Step 3: SEA informed all the remaining Agencies that they have to provide their final feedback by 16th December.
Step 4: The SEA will then do their own internal review (up to 30-60 days). If the information required by the Agencies are not critical then they can overwrite and approve the application.

Keep in mind, I am hoping all the issues were resolved in those meetings as they met face to face with experts in their respected fields. I don't think any of the major mining companies will meet 100% of the environment assessment criteria. Some of the rules and policies might be out of dated hence they invited experts to have independent views. These outcomes should be minuted and addressed in the addendum.
The role of the SEA is to weight the benefits of their economy by job creations and the value the project brings to the country.

* Codelco will not sign an MOU without knowing very high chance (90% plus) this project will go ahead. The Mining Minister will not mention about our project if he is not confident. The president announced that he will do whatever in his power to attract foreign investments to the country especially renewal energy. MSB project is one of the key projects that the government committed and they will make it work.

* SQM got their EIA approved early this year for the expansion even the region they operate having water issues etc.

* Copper price is failing, international companies operate in Chile raised their concerns due to recent protests. Chile economy depend so much on the mining sector. What makes one think they will stop these key projects such as MSB when we are three years in the making especially everyone is watching. Corfo on other hand promoting heavily as well.

* Worst case scenario, some Agencies may still require further information and the SEA will make MSB to do the fourth around which delay us for another 3 months.

Finally we already got about 65% approval. The remaining questions should be discussed in those minutes in November and outcomes were minuted. I checked the status of those minutes, there were accepted so I have high hope everything will be completed by mid-Feb 2020 due new year shutdown etc.

I know the share price does not reflect on the true value of LPI at this stage. Have a look at all the junior lithium explorers. More than 90% haven't even completed their PFS/DFS yet alone the environment assessment for such a large scale project. Even BHP, RIO etc took close to 2 years to obtain their EIA for their big projects.