LPI opportunity, page-259

Mate, good question. Brine projects are between $400-600m in capex requirements. It boils down to IRR and NPV for the projects. LPI's updates IRR is expected to be just over 40% and we have a large deposit (comparable to ORE) with one of the best grades.

Offtakes and financers will not finance small deposits (2,000 t/pa or 10,000 t/pa). It needs to be above 15,000 t/pa with a mine live of 10+ years. Also as my previous post indicated, Argentina lithium project will be hammered with tax as per Howard's comments. LPI will be exempt from tax increases. Just compare all brine projects carefully in South America and look at IRR, NPV, and percentage of MC and NPV. LPI is MASSIVELY under valued.

I hope more brine investors can see the light in South America.