LITHIUM CHILE CLOSES THE PREVIOUSLY ANNOUNCED $27,900,000 PRIVATE PLACEMENT AT $0.95 WITH CHENGXIN LITHIUM GROUP AND EXPANDS THEIR DEVELOPMENT PROGRAM ON SALAR de ARIZARO FROM THREE WELLS TO SEVEN WELLS 40% premium to the current market price of Lithium Chile shares reflects the confidence Chengxin has in the potential for the Company’s Salar de Arizaro project in Salta Province Argentina and the Company’s large portfolio of prospective lithium properties in Chile. The $27,900,000 added to the Company’s existing working capital of approximately $15,000,000 giving the Company an unprecedented $43,000,000 in cash and the financial clout not only complete existing projects in Argentina and Chile, but the financial flexibility to pursue other opportunities as well.
M
LTMCF will be at a $1 in a month regardless of overall market volatility
D
At 40 cents is good entry point
M
Got in at .65 , what a day , it just tells you that this company is for real , I hope all of these shorters are nervous about attacking this stock any time soon
out @.70. such potential, but imo the local govt. n macro are hindering progression. Be well All
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they will get bought out cheap
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if Chengxin bought at .95 why wouldnt we buy at .72? the future is bright here
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In at .78 let's hope for the best!!🙌
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50 cents here come
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TheNewswire - February 22, 2022 - Lithium Chile Inc. (“Lithium Chile” or the “Company”) (TSXV:LITH) (OTC:LTMCF) is pleased to announce that the company’s Argentinean management team will be meeting the technical team of Chengxin Lithium Group Co., Ltd. (“Chengxin”) on Tuesday February 22, 2022, in Salta Argentina. The plans are to jointly travel to Lithium Chile’s recently completed production test well on the Salar de Arizaro property. The purpose of the meeting is to discuss the Company’s phase 2 exploration program and further cooperation between Lithium Chile and Chengxin. The Company believes Chengxin’s experience and technical expertise in processing lithium brines will help advance the company’s Arizaro project.
President and CEO, Steve Cochrane shares, “Together, working in collaboration with Chengxin Lithium, we will unlock the full potential of the Arizaro project, optimizing exploration and mining methods while respecting the environment and the local biodiversity”.
Results from the phase 2, three well drill program of the Arizaro project are expected to be released after the completion and testing of each well. The Environmental Impact Assessment (EIA) was completed earlier than anticipated which will allow for the assessment and the drilling permits to be filedthisweek. This will accelerate the phase 2 program with additional updates to follow shortly.
Takeover candidate perhaps?
R
Lithium Chile strategic investor Chengxin Lithium China based company increases stake to 19.86% thought a 28 Million private placement..
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CALGARY, ALBERTA, February 8, 2022 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to report an initial lithium (“Li”) resource statement for its first test well in the Arizaro de Salar project. The NI 43-101 resource statement, detailed in Table 3.2 below, includes 1,420,000 tonnes of lithium carbonate (“Li2CO3”) equivalent in the Indicated and Inferred Resource categories.
Did my research all night, this is not just a lithium mine this is a GOLD MINE I'll start buying today and not planning on selling till 2024
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The initial operational meeting was held within a week of signing the LOI and plans continue to unfold quickly. Once the definitive agreement is completed prior to July 12th, the Company hopes to begin drilling the production test well. Drilling should take approximately 8 weeks with a 30-day pumping test to follow. The test is designed to analyze and collect data from the target zone that will prove the potential commerciality of the aquifer identified in an earlier exploration program.
Steve Cochrane, President and CEO of Lithium Chile commented: “I am very pleased that our Argentinian team was established so quickly allowing us to initiate our production well drilling program. It is exciting that we now have two programs underway in two of the major countries forming the “Lithium Triangle.” We are confident that this will create substantial shareholder value going forward.”
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This was posted on CEO.ca. Good analysis as to future potential value of Lith
Based on the information currently available, I did some exercises and assumptions, and calculated as the following:
The central 5 blocks (2 blocks at south, south-west are not included) surface area is estimated 162 KM square.
The depth and Specific Yield (FY) are estimated:
300 - 330 meters, 30 meters, SY = 6%;
330 - 386 meters, 56 meters, SY = 12%;
386 - 399 meters, 13 meters, SY = 22%;
399 - 450 meters, 51 meters, SY = 10%;
Total Brine Volume is 3,621 Million Cubic Meters;
Lithium grade, lithium metal, & lithium Carbotae are estimated as:
500 mg/L, 1.811 million tonnes L-metal, 9.6 million tonnes LCE;
600 mg/L, 2.172 million tonnes L-metal, 11.6 million tonnes LCE;
700 mg/L, 2.535 million tonnes L-metal, 13.5 million tonnes LCE;
800 mg/L, 2.897 million tonnes L-metal, 15.4 million tonnes LCE.
As the above calculation indicates, LIH has a potential of minimum 10 million tonnes LCE.
LAC has 19.9 million tonnes M/I LCE at 592 mg/L; trading at $30 USD
H
Good news : Chile preparing to launch 400,000t lithium mining tender .
Chile’s mining ministry has issued a decree establishing the rules for a 400,000t lithium exploration and production tender.
Decree 23 published on Wednesday establishes that the total lithium production available in the tender will be divided into five quotas, each of 80,000t of lithium carbonate, lithium hydroxide, lithium bromide or lithium chloride.
Bidders will be allowed to make offers for up to two quotas (i.e., up to a maximum of 160,000t) anywhere in the country. They will offer the Chilean state a royalty payment in return for the quota or quotas and a variable payment during the production stage.
The special operating contracts (CEOLs) signed with the quota winners will include a seven-year period for geological exploration, study and project development, which may be extended by up to two years. This will then be followed by a 20-year production period.
Once the CEOLs are awarded, the winning companies will be responsible for finding lithium deposits where they can develop projects, deciding the extraction technology to be used and meeting the necessary regulatory and environmental requirements to obtain permits, as well as assuming all risks and costs.
The contracts will be handled by the mining ministry and supervised by a coordination committee formed by two representatives of the involved parties, while the future lithium production will be checked by a qualified inspector named by the metal producer and approved by the coordination committee.
AND EXPANDS THEIR DEVELOPMENT PROGRAM ON SALAR de ARIZARO FROM THREE WELLS TO SEVEN WELLS
40% premium to the current market price of Lithium Chile shares reflects the confidence Chengxin has in the potential for the Company’s Salar de Arizaro project in Salta Province Argentina and the Company’s large portfolio of prospective lithium properties in Chile. The $27,900,000 added to the Company’s existing working capital of approximately $15,000,000 giving the Company an unprecedented $43,000,000 in cash and the financial clout not only complete existing projects in Argentina and Chile, but the financial flexibility to pursue other opportunities as well.
President and CEO, Steve Cochrane shares, “Together, working in collaboration with Chengxin Lithium, we will unlock the full potential of the Arizaro project, optimizing exploration and mining methods while respecting the environment and the local biodiversity”.
Results from the phase 2, three well drill program of the Arizaro project are expected to be released after the completion and testing of each well. The Environmental Impact Assessment (EIA) was completed earlier than anticipated which will allow for the assessment and the drilling permits to be filedthisweek. This will accelerate the phase 2 program with additional updates to follow shortly.
Takeover candidate perhaps?
Steve Cochrane, President and CEO of Lithium Chile commented: “I am very pleased that our Argentinian team was established so quickly allowing us to initiate our production well drilling program. It is exciting that we now have two programs underway in two of the major countries forming the “Lithium Triangle.” We are confident that this will create substantial shareholder value going forward.”
Good analysis as to future potential value of Lith
Based on the information currently available, I did some exercises and assumptions, and calculated as the following:
The central 5 blocks (2 blocks at south, south-west are not included) surface area is estimated 162 KM square.
The depth and Specific Yield (FY) are estimated:
300 - 330 meters, 30 meters, SY = 6%;
330 - 386 meters, 56 meters, SY = 12%;
386 - 399 meters, 13 meters, SY = 22%;
399 - 450 meters, 51 meters, SY = 10%;
Total Brine Volume is 3,621 Million Cubic Meters;
Lithium grade, lithium metal, & lithium Carbotae are estimated as:
500 mg/L, 1.811 million tonnes L-metal, 9.6 million tonnes LCE;
600 mg/L, 2.172 million tonnes L-metal, 11.6 million tonnes LCE;
700 mg/L, 2.535 million tonnes L-metal, 13.5 million tonnes LCE;
800 mg/L, 2.897 million tonnes L-metal, 15.4 million tonnes LCE.
As the above calculation indicates, LIH has a potential of minimum 10 million tonnes LCE.
LAC has 19.9 million tonnes M/I LCE at 592 mg/L; trading at $30 USD
https://www.bnamericas.com/en/news/chile-prepaing-to-launch-400000t-lithium-mining-tender
Chile’s mining ministry has issued a decree establishing the rules for a 400,000t lithium exploration and production tender.
Decree 23 published on Wednesday establishes that the total lithium production available in the tender will be divided into five quotas, each of 80,000t of lithium carbonate, lithium hydroxide, lithium bromide or lithium chloride.
Bidders will be allowed to make offers for up to two quotas (i.e., up to a maximum of 160,000t) anywhere in the country. They will offer the Chilean state a royalty payment in return for the quota or quotas and a variable payment during the production stage.
The special operating contracts (CEOLs) signed with the quota winners will include a seven-year period for geological exploration, study and project development, which may be extended by up to two years. This will then be followed by a 20-year production period.
Once the CEOLs are awarded, the winning companies will be responsible for finding lithium deposits where they can develop projects, deciding the extraction technology to be used and meeting the necessary regulatory and environmental requirements to obtain permits, as well as assuming all risks and costs.
The contracts will be handled by the mining ministry and supervised by a coordination committee formed by two representatives of the involved parties, while the future lithium production will be checked by a qualified inspector named by the metal producer and approved by the coordination committee.