Ann: Settlement of Legal Proceedings and Application for a Ceol, page-67

The lodgement dates for both the EIA and DFS have been toing and froing since the CEOL hand grenade was thrown in March.  Surely these documents would require amendment to cater for 'almost' guaranteed future development and extraction from the Litio group of tenements and potential for increased plant production, given the CEOL should effectively double our initial extraction and export quota - with room to more than double again from an increase in recovery efficiency and a potential BIG increase in the JORC resource (a recovery rate of 40% is used by Chilean regulatory authorities to determine an extraction quota, while WorleyParsons included a rate of 51% in the PEA).

A lot of exploration and environmental work was undertaken on the Litio tenements by Bearing's predecessor Li3 Energy.  Baseline environmental monitoring activities commenced in April 2011. The attached report is good reading and provides a great deal of geotechnical history on the Litio tenements, which were the only tenements constituting the Maricunga project back in 2012.  What the report confirms is that a great deal of work has been done on the Litio tenements over the years.

Lets be honest, LPI/MSB has been walking on eggshells in regard to Litio since day 1, and now we can get ready to unshackle ourselves and work respectfully and productively with Maricunga's key stakeholders.  Onwards and bloody upwards, eventually.

http://www.li3energy.com/projects/ni-43-101/43-101_Report_Maricunga_May_23_2012.pdf