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Lithium Power International: Potential Investment by a Major Chinese Industrial Group
Nov. 17, 2017 09:10AM PST
Battery MetalsLithium Power International Limited (ASX: LPI) (“LPI” or “the Company”) notes overnight Chilean media speculation and confirms that Minera Salar Blanco SA (MSB), the entity which holds the Maricunga lithium brine project and in which LPI is a 50% shareholder, has entered into discussions with major Chinese company, Fulin Group which is the head company …
Lithium Power International Limited (ASX: LPI) (“LPI” or “the Company”) notes overnight Chilean media speculation and confirms that Minera Salar Blanco SA (MSB), the entity which holds the Maricunga lithium brine project and in which LPI is a 50% shareholder, has entered into discussions with major Chinese company, Fulin Group which is the head company of its wholly owned subsidiary Fulin Energy Investment Co. Ltd and Yema Auto Co. Ltd.
As quoted in the press release:
The draft MOU contemplatesthat Fulin Group and MSB will investigate co-operation between the two companies including a potential equity purchase in MSB between 20-50% and a funding agreement to provide the necessary equity and debt associated with the CAPEX for the project. For this potential investment, Fulin seeks to secure, direct project interest, offtake and agency rights.
