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Li3 Energy, Inc. (OTCBB: LIEG)
Maricunga Lithium Brine Project Low Cost Lithium Provider – Crucial Advantage
Sixty Percent Ownership: The Reports on the Maricunga Lithium Brine Project in Chile present a strong and favorable picture of the LIEG’s potential as the LOW COST PROVIDER of lithium. This is clearly why POSCO has focused on LIEG with an advanced $8 million in funding to initiate the Maricunga Project through a Securities Purchase Agreement by POSCO, Canada, Ltd.
Lithium projects generally fall into two types: brine or hard rock. Maricunga is a Brine Project. Brine producers have the LOW COST advantage. They pump salt water containing lithium from the ground into an evaporation pond have the advantage of not only lower costs but a higher quality raw product.
Lithium demand has grown at a compound annual growth rate of 6.5% in the past 20 years.
Daniela Desormeaux Director signumBox in a presentation made in March this year noted:
- 24% of lithium consumption comes from batteries
- 29% from enamels glass and ceramics
- 20% lubrcating greases
- 5% air conditioners among others.
The electric and hybrid vehicles would continue to gain market favour in view of reduction in carbon emissions and lithium ion batteries are the first choice for the industry. He further noted that salar brine is the cheaper way of mining the commodity.
POSCO $8M Funding: POSCO, traded on the NYSE under the ticker symbol PKX. POSCO has advanced $8 million in funding to initiate the Maricunga Project. POSCO, Canada, Ltd. entered into a Securities Purchase Agreement with LIEG.
- signumBOX Report 2011
- NI-43-101 Report
- Li3 Energy Website: www.li3energy.com.
Maricunga Lithium Brine Project
- Salar de Maricunga is considered the 7th largest lithium brine resource in the world (Industrial Minerals Lithium Conference, January 2010)
- Li3′s Maricunga Project owns prospective mineral claims that cover a total area of 3,553 acres (1,458 hectares) in Chile
- Additionally, the Company owns and 19,500 acres (7,891 hectares) in Peru
POSCO Strategic Partnership for Maricunga Property
Initial $8 Million Funding: The initial $8 million POSCO funding advances the development of the Maricunga Project and should enable Li3 to achieve “Measured and Indicated Resource NI 43-101 Resource Evaluation” status.
Technical Resource Provider: POSCO also provides crucial technical resources as well as a potential Off-Take Partner for the strategic minerals commercially extractable from the project.
Milestone Funding Potential for $10M: A second $10 million tranche of funding is committed from POSCO upon achieving certain milestones. This strategic partnership has the potential to significantly enhance shareholder value.
Maricunga Project Highlights
- Salar de Maricunga is considered the 7th largest lithium brine resource in the world (Industrial Minerals Lithium Conference, January 2010)
- Potential to become #1 Lithium underdeveloped project
- Lowest cost of production is expected versus other Chilean salars
- Infrastructure (road & power) in place to support preliminary development with four established paved routes
- Second highest quality deposit of lithium in Chile – See: signumBOX Report 2011
- Top 11 worldwide Lithium Project – See: signumBOX Report 2011
- World class mining region, close to strategic mining epicenters, including: Copiapo, El Salvador, the Caldera Port, the Caldera International Airport and Chaneral Mining Port
Reports on LIEG Maricunga Project
- signumBOX Report 2011
- NI-43-101 Report
- Li3 Energy Website: www.li3energy.com.
Contact:
Li3 Energy, Inc.
Av. Pardo y Aliaga 699 Of. 802
Lima 27 – Perú
P: (+51-1) 212-1880
Marchant Pereira
150 Oficina 803
Providencia, Santiago – Chile
Investor Relations
Marc S. Lubow
The InVentures Group
info@li3energy.com
P: (904) 645-9549
Website: http://www.li3energy.com
Phone: (51) 1-212-1880
Email: info@li3energy.com
Forward-Looking Statements
All statements other than statements of historical facts included in this news release including, without limitation, statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “potential,” “target,” “goal,” “plans,” “objective,” “should” or similar expressions or variations on such expressions are forward-looking statements. The Company can give no assurances that the assumptions upon which the forward-looking statements are based will prove to be correct. Because forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements. There are a number of risks, uncertainties and other important factors that could cause the Company’s actual results to differ materially from the forward-looking statements, including, but not limited to: the results of initial exploration, and the determination by Li3 and POSCO whether to pursue any of the transactions contemplated by them; the results of research and development and the determination by Li3 and R3 whether to pursue any of the transactions contemplated by their MOU; the Company’s ability to raise additional capital to complete exploration, development and commercialization of the Maricunga Project; the future findings and economic assessment reports; the Company’s ability to obtain the necessary Chilean Government operating permit and environmental approval; the Company’s ability to identify appropriate corporate acquisition and/or joint venture opportunities in the lithium mining sector and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities; future economic conditions; political stability; and lithium prices. For further information about certain risks faced by the Company, see “Risk Factors” in Part I, Item 1A of Amendment No. 1 to our Annual Report on Form 10-K, filed with the Securities and Ex- change Commission on November 5, 2010. The Company disclaims any obligations or under- taking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
LIEG Disclosure: Pentony Enterprises LLC entered into an investor relations consulting and market awareness contract with LIEG. We hold not shares and will not be receiving any shares. To avoid all potential conflicts of interest, we never sell shares into the open market during an active market awareness or investor relations program. This means that as we release new information about a particular client company either on our site or otherwise authored by us, you can be confident we are not selling shares at the same time. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. The Company will compensate us a total of sixteen thousand seven hundred dollars for coverage through February 29, 2012. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. Pentony Enterprises LLC – 1601 Berwick Drive – McKinney, Texas 75070 – (469) 252-3031.
