Lithium Power to create WA-focused lithium exploration company
Lithium Power International (LPI) has revealed its plan to demerge its Western Australian (WA) hard rock lithium assets with an aim to create a dedicated, Western Australia-focused lithium exploration company.
The demerger will involve six hard rock lithium exploration assets located in Greenbushes.
The Australian lithium company said that the proposed demerger will allow it to concentrate its resources on developing its flagship Maricunga Lithium Brine Project in Chile.
Lithium Power to create WA-focused lithium exploration company. Image courtesy of Lithium Power International.
Cristobal Garcia-Huidobro — Lithium Power International CEO said: “LPI believes that there is a compelling strategic rationale for the demerger of LPI’s WA hard rock lithium exploration assets. The Demerger will offer existing LPI shareholders the opportunity to create long term value via a new, ASX-listed company.
“LPI has a number of highly prospective assets located in WA that are at an exciting stage of exploration. They comprise three tenements in the Greenbushes region, immediately along-strike from the Talison mine, and three tenements in the Pilbara region (one of which is adjacent to tenements held by Pilbara Minerals).”
Lithium Power International said that the demerger process is likely to be wrapped up in the first half of this year, subject to obtaining all the required approvals.