As at 30 June 2017, the Company had at its disposal a total of AU$3.6m in the parent and subsidiary bank accounts in Australia, Chile and Argentina. Foreign currency held at the end of the quarter has been converted to Australian dollars at the closing exchange rate on 30 July 2017.
In addition, during the quarter the Company remitted a further AU$7.5m (US$5.5m) to the Maricunga Joint Venture ("MJV") as per the MJV Investment Agreement. As at 30 June 2017 the MJV held US$6.1m (AU$7.8m) in its bank accounts.
Therefore, the Company has the total funds available at the date of the Appendix 5B of approximately AU$9.7m.
To view the cashflow report, please visit:
To view the Activity Report for the quarter ended 30 June 2017, please visit:
About Lithium Power International Ltd
Lithium Power International Limited (ASX:LPI) (FRA:24L) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile.
LPI has a well known performing technical team with the experience to take the Maricunga project all the way through the development stages to production.
The regions that LPI is currently focussed on are:
1. Maricunga JV (Chile) – On 13th September 2016, Lithium Power announced the creation of a new JV to develop the world-class Maricunga lithium brine deposit in northern Chile.
2. Pilbara (Western Australia) – LPI has one granted exploration tenement and two pending exploration applications covering 203km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is at Pilgangoora-Houston Creek is 2-3km west of the Pilbara Minerals (PLS.ASX) and Altura Mining (AJM.ASX) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world’s largest hard rock lithium mine owned & operated by Tianqi/Talison.
4. Centenario (Argentina) –Through its Argentinian subsidiary, Lithium Power holds a total of 6 granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the 6 granted tenements cover an area of 61.52km2. In addition, there is 1 further tenement in the grant review stage.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenement which is the subject of review by the Argentinian mining authorities).
ContactMartin C Holland - CEO
Lithium Power International
Lithium Power International Ltd (ASX:LPI) Update on Sale of the Centenario Lithium Project in Argentina