Lithium Power International - Maricunga progress and WA asset demerger
Lithium Power International’s (LPI’s) Q322 activities report suggests continued progress on its 52%-owned Maricunga lithium project in Chile. The company has also confirmed its plans to demerge its Western Australia (WA) lithium assets by the end of CY22. We have updated our estimates slightly to bring them in line with the reported cash spend. Our valuation increases to A$1.1/share, due to the implied lower forecast project equity dilution. The planned lithium assets spin-off should crystalise additional value for shareholders.Lithium Power International is primarily engaged in the exploration and development of lithium assets, with a portfolio diversified by both geography and deposit type in South American and Western Australia.
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