The Constitutional Convention has been extended by three months until early July. It must be remembered that 40 proposals have been put to the Constitution Plenary by the Environmental Committee and only one of those 40 proposals has been approved. That is a good thing as it shows the Plenary is doing its job in rejecting radical/unworkable proposals. Where does this leave the Nationalisation proposal? I would say that it has little chance of getting up and the way the polls are going, there is little chance of a new Constitution being voted in by the Chilean electorate at the end of the year.
I just hope this delay does not impinge on LPI's progress at Maricunga and a decision by Mitsui. We all know the current government's preferred model is the creation of a National Lithium Company and the public-private partnership model has worked well in Chile's copper sector.
LPI Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
