Li3's Maricunga Project ranked 4th best undeveloped brine lithium project in the world
19.03.2014 | PR Newswire
SANTIAGO, March 19, 2014 - Li3 Energy Inc., (OTCBB: LIEG) ("Li3", "Li3 Energy" or the "Company"), a US-listed and South America based global exploration company in the lithium and minerals sector, is pleased to announce the independent findings of signumBOX. signumBOX is a Chilean based company that was founded in 2009 to offer market intelligence in industries related to natural resources, chemicals and technology in both national and international markets, with a specific focus on the lithium industry. With extensive knowledge and years of research and analysis of the lithium industry, signumBOX ranks more than 60 lithium projects (brine and pegmatite) using an objective, quantitative method.
According to the February 2014 signumBOX Performance Index (SPI), Li3's Maricunga Project is solidly ranked as the 4th best undeveloped lithium project in the world out of the 37 other brine projects in the ranking.
Additional key conclusions of the February 2014 report are:
- Global lithium demand is expected to grow at a base rate of 6% in 2014 from 2013 rates.
- The increase in the growth rate is due primarily to an increase in demand from the battery industry, which is projected to grow a base rate of 11.2% in 2014 from 2013 and increase year after year.
- After the Atacama salar, the Maricunga salar has the second highest quality deposit of lithium in Chile.
- Li3's Maricunga project is the highest ranked undeveloped lithium brine project in Chile. Patrick Cussen, Li3's Chairman of the Board, stated, "These continue to be very exciting times for Li3. Not only are we now fully funded through the permitting process, the positive statements from the Chilean government regarding the lifting of restrictions on additional lithium projects, coupled with the current signumBOX ranking, confirms that our Maricunga project is a world-class asset."
Luis Saenz, CEO of Li3, stated, "The independent confirmation and continued number 4 ranking provides further evidence to support our belief that Li3 has the only advanced lithium project in Chile that can exploit lithium at the moment. As we continue to execute our strategic plan with our local partner BBL and POSCO´s technology, we believe the results of the ranking can add to shareholder value and solidifies our place as a top-level lithium project."
Li3 cautions that the information contained in the signumBOX report was current as of February 2014 and is subject to change as the lithium landscape is constantly evolving. Like all index rankings, as other companies' progress is reported, Li3's rankings could change. As Li3 executes and accomplishes its 2014 goals, we will submit the data to signumBOX for verification and re-balancing of the index ranking. The signumBOX Summary Report is available through paid subscription and details for this can be found at www.signumbox.com
About Li3 Energy, Inc.
Li3 Energy Inc. is an exploration stage public company in the lithium mining and energy sector. Li3 aims to acquire, develop and commercialize a significant portfolio of lithium brine deposits in the Americas. With its interest in the Maricunga Project, coupled with the completion of the NI 43–101 Compliant Measured Resource Report and the Cocina acquisition, Li3's goals are to: a) advance Maricunga to the Feasibility Stage; b) support the global implementation of clean and green energy initiatives; c) meet growing lithium market demand; and d) become a mid-tier, low cost supplier of lithium, potassium nitrate, iodine and other strategic minerals, serving global clients in the energy, fertilizer and specialty chemical industries. Additional information regarding the Company can be found in its recent filings with the Securities and Exchange Commission ("SEC") as well as the information maintained on our website www.li3energy.com.
Forward-Looking Statements
Any statements contained herein which are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements identified by or containing words like "believes," "expects," "anticipates," "intends," "estimates," "projects," "potential," "target," "goal," "plans," "objective," "should", or similar expressions. The Company gives no assurances the assumptions upon which such forward-looking statements are based will prove correct. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed herein due to many factors, including, without limitation: obtaining the necessary funding required to satisfy the company's on-going operations; validation of the POSCO technology; obtaining and the issuance of necessary government consents; confirmation of initial exploration results; the Company's ability to raise additional capital for exploration; development and commercialization of the Company's projects; future findings and economic assessment reports; the Company's ability to identify appropriate corporate acquisition or joint venture opportunities in the lithium mining sector and to establish appropriate technical and managerial infrastructure; political stability in countries in which we operate; and lithium prices. For further information about risks faced by the Company, and its Maricunga Project, see the "Risk Factors" section of the Company's Form 10-K, filed with the SEC on October 9, 2014. The Company undertakes no obligation to update any forward-looking statement contained herein to reflect events or circumstances which arise after the date of this release.
Contact:
KCSA Strategic Communications
Julie Silber, Senior Vice President, Investor Relations
310-766-9760
jsilber@kcsa.com
SOURCE Li3 Energy Inc.