LPI will complete its 50% buy-in of the Maricunga project in a matter of months, but also, there is potential for it to purchase additional equity from one of its JV partners. In terms of Maricunga brine resource technicals, nothing else on the planet comes within cooie of it at the moment. It has the highest grade of all known undeveloped lithium brine deposits by a country mile. The current JORC only takes into account exploration to 200 metres in depth. Drilling has confirmed lithium brine continues to 360 metres at Maricunga and seismic work undertaken indicates the resource could continue to 500 metres in depth. The brine flow rates are among the best in the world. The Maricunga project PEA puts it at the bottom of the lithium cost curve. The base case project NPV is just over $US2 billion at 25K of LCE production. It has been stated that funding for the project will be undertaken by end-users which means no additional dilution for LPI as it has $40 million in the bank. It is not a case of if, but defintely a case of when. The Maricunga project is by a long, long, long way the premier undeveloped lithium brine deposit on planet Earth and will be developed.
