Lithium Power International Limited (ASX:LPI) has signed agreements to significantly increase its tenement holdings in Western Australia.
The acquisitions significantly increase its ground position in the Greenbushes Area, making it the largest holder of ground along the Donnybrook-Bridgetown Shear Zone. The acquisitions also diversify its geographic footprint in WA, by obtaining tenements in the Eastern Goldfields region.
These acquisitions support the company’s ability to demerge its WA assets into a separate company, Western Lithium Ltd.
The company’s strategy is focused on unlocking the value of these assets, most likely through an ASX listing in Q4 2022.
This strategy and the timing of the potential demerger and listing of Western Lithium Ltd will allow LPI to focus in Q3 2022 on the consolidation of ownership of its flagship Chilean joint venture company, Minera Salar Blanco S.A. and the continued development of the Maricunga Lithium Project in Chile.
The demerger and listing process of Western Lithium is being targeted for completion in Q4 2022, subject to market conditions and final approvals from ASX, ASIC, ATO and LPI shareholders.