NEW YORK, June 06, 2018 (GLOBE NEWSWIRE) -- via NetworkWire — NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring Lithium Chile Inc. (TSX-V:LITH) (OTCQB:LTMCF), a client of NNW focused on advancing a lithium property portfolio consisting of 152,900 hectares covering sections of 14 salars and one laguna complex in Chile.
To view the full publication, titled “Lithium Producers Expand Amid Market Supply Squeeze,” visit: http://nnw.fm/0Hfpa
Amazingly, Lithium Chile acquired its large property reserves for a song. Land prices in lithium-rich Chile are currently pegged at $1,500 per hectare, but over the last three years Lithium Chile accumulated large tracts of prime lithium-bearing properties for only $3 dollars per hectare. Terry Walker, vice president of exploration and the chief geologist, spearheaded the company’s procurement of these properties. Using a 1970s French technical report overlaid on a national database of water well hydrology and water chemistry, he meticulously matched their information with an extensive lands claim database. With full financial backing and support from the company, Terry identified and Lithium Chile acquired the best salars in proximity to the highest lithium concentrations and closest to needed infrastructure such as roads and power. The result may be the most promising lithium-rich land package in Chile.
Quick math shows that Lithium Chile paid less than a half million dollars for its entire 152,900 hectares encompassing 14 salars and one laguna, and the company currently trades at a market valuation of just over $70 million. If Lithium Chile were able to sell all its properties today at the current ask price of $1,500 per hectare, the imputed value would be over $222 million. Obviously, that’s not about to happen, but it does give cause to consider what the company may be worth if the promising field tests turn into positive drilling results. Proved lithium reserve parcels sell for north of $10,000 per hectare.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 152,900 hectares covering sections of 14 salars and one laguna complex in Chile. The properties include 64 square kilometers on the Salar de Atacama, which hosts the world’s highest concentration lithium brine production and is currently the source of approximately 30 percent of the world’s lithium production. Lithium Chile’s common shares are listed on the TSX.V under the symbol “LITH” and on the OTCQB under the symbol “LTMCF.” For more information, visit the company’s website at http://nnw.fm/LTMCF
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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