Ann: LPI Consolidates 100% of the Maricunga Project, page-46

Firstly, I can fully understand why some have sold yesterday and this morning. There is uncertainty created by Codelco's latest stunt.

However, it must be remembered that we are in reach of the holy grail, after six long years - and that is why Codelco has made its outrageous application. It is all about it or its successor, the National Lithium Company maintaining some relevancy on the Maricunga salar. Codelco is aware that LPI is at the pointy end of its stage 1 development cycle. It has also provided the Chilean Mining Undersecretary with an opportunity to promote that Chile wants more than just mining, it wants downstream investment.

Will the Government give Codelco's application serious consideration? I doubt it. Any approval would be a country-killer in terms of foreign investment and if it were to occur, it would provide the right for LPI to seek significant compensation through the international court system. And that is NOT a good advertisement for a country needing to attract foreign investment.

I spoke to the LPI hierarchy about Codelco's actions late last week and they have been working behind the scenes to address the matter in Chile. They have a strong working relationship with governments at different levels in Chile. They were going to take a softly, softly approach with addressing the matter publicly, but that might change if the price continues to slide.

I sold a small portion of my holding last Thursday on the back of the initial announcement but have bought back in over the last hour.

The old saying, "when there's blood on the floor......"

GLTAHs old and new. Stay strong.