LPI - go or no go?

On the verge of pulling out due to subpar management and BoD - David.H, Cristobal.G, Richard.C (what does he do?), Andrew.P (would you trust him with 5c?). I hate to say this, but the evidence indicates those mentioned are using LPI as a lifestyle company. So I am studying on how to lodge a Section 249D and Section 203D - so we can force the company to call a general meeting to vote on renewed-focus and leadership. Beginning of H2 2021 I would love to get in touch with other investors here, so we can have a unified approach, if it gets to that point.

But I have opted to stay with a specific timeframe, hoping the assets will out perform BoD and management - so the assets:

Maricunga - We all know about this, highest grade, lowest impurity, THE best undeveloped shovel ready Li brine project in the world. The list goes on and on. But our current DFS is a null because of the indefinite delay from Chile/Codelco. Which places us in pre-DFS space, technically. Drilling needs to go deeper on our old codes, DFS needs to be redone.

Greenbushes - Really interesting potential. I would hate to pull out of LPI before we get the results from this.

LPI has identified a gravity feature above similar to that of the Talison mine. This open source gravity image indicates two circular anomalies in the Greenbushes area. One feature is coincident with the Talison mine, and the other is located within LPI’s Brockman Highway Project area. Both features are orientated on the same north-northeast geological structure.


The was past exploration on this tenement, but those were the "pre-lithium" years:

A large proportion of past work that relates to tin, tantalum and/or lithium exploration has been completed outside LPI’s project boundaries. Following is a summary of exploration targeting tin, tantalum and/or lithium conducted on parts of the current tenements:
1988-1991: Greenbushes: Extensive laterite sampling.
1991-1994: Pancontinental Mining: Extensive laterite sampling, lack of positive results lead to tenement surrender.
2007-2013: Red River Resources: 36 stream sediment samples, 662 MMITM samples, 532 Laterite samples, 5 RC drill holes. A 4 km x 1.5 km Li-Ta Sn soil anomaly was defined (East Kirup). Drilling was restricted to five of 20 planned holes and ground conditions limited hole depths to 50 metres, pegmatites were not detected, leading to tenure relinquishment. A large proportion of Red River’s exploration occurred within the north western portion of LPI’s E70/4763 tenement.
2010-2014: OneMet Minerals: Were targeting lithium, bauxite, iron ore, gold plus nickel and PGE’s. Preliminary work included mapping, stream sediment sampling, geophysical data acquisition and interpretation, and rock chip samples of BIFs. The company identified an alluvial tin target north-north-east of Greenbushes and a bedrock tin/lithium target at East Kirup (same as Red River), both on LPI’s E70/4763 tenement. To progress the project OneMet planned to raise capital via an IPO at the beginning of 2012, however economic downturn halted this process and the tenements were ultimately surrendered.

This exploration program has perhaps a 10% chance of success. If we do hit the 1 in 10 with this one, then we are looking at a 10x bagger overnight. So I am not holding my breath, but I am interested.

The clear objective here is Maricunga. If management cannot exploit this, then we the shareholders need to take action with section 249D (does not matter if we are successful or not). Believe me, these silver-heads would not like shareholder revolt as it scars their reputation in their small circles.