This new argument about it being a metal or non-metal is new from what i can tell but it is a extension of the same issue that MSB was involved in during the court case in 2018. During which time codelco was trying to enforce its CEOL to cover all of maricunga and the CEO said "CEOL’s, however, only apply to concessions licensed under the “new” mining code and therefore only cover MSB’s Litio concessions. All of MSB’s other concessions were issued under the “old pre-1979” mining code and are not affected."link.
This is a bit frustrating that it is happening and especially that it is happening right when we are merging MSB and getting project financing. I hope this gets cleared up in the next month or two. I expect regular updates about this seeping out from the news or from SIMCO/LPI press releases. Ill keep ya posted with what I find. I hope and think this brings more eyes and investors to the company from the attention we are getting and will be getting in the news, so I guess that is the silver lining of it all.
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- The Ministry of Mining accepted application from CODELCO to extend CEOL
The Ministry of Mining accepted application from CODELCO to extend CEOL, page-44
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