Lithium Power International (ASX: LPI)

Last close As at 28/02/2024

AUD0.54

0.01 (0.93%)

Market capitalisation

AUD346m

Lithium Power International’s (LPI’s) main asset is its 100% interest in the Maricunga lithium brine project in Chile; subject to funding, stage 1 is expected to produce 15.2ktpa of high-grade lithium carbonate from 2026. It sold its lithium assets in Western Australia to Albemarle in July 2023.

While the value implied by the transaction is below our project driven valuation of the company, it has to be viewed in the context of political uncertainty in Chile and prevailing weak lithium prices.

Latest Insights

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Metals & Mining | Flash note

Lithium Power International — Sale of Australian assets agreed

Metals & Mining | Update

Lithium Power International — Lower risk, higher reward

Metals & Mining | Flash note

Lithium Power International — Carbonate purity above industry standards

Mining Exploration_Lithium power

Equity Analyst

Andrey Litvin

Energy and Resources Analyst

Harry Kilby

Analyst

Key Management

  • Andrew Phillips

    CFO

  • Martin Holland

    CEO

Balance Sheet

Forecast net cash (A$m)

13.9

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.7) 0.0 52.1
Relative (4.3) (8.8) 42.5
52 week high/low A$0.6/A$0.2

Financials

Following its earlier announcement regarding its binding agreement with Coldelco, Lithium Power International (LPI) provided an update on the implementation of the scheme of arrangement. The transaction remains subject to the Treasurer providing a written notice under the Foreign Acquisitions and Takeovers Act 1975 stating that the Commonwealth government does not object to the scheme. The Foreign Investment Review Board has requested an extension to the statutory deadline for the making of its decision to 9 February 2024. In light of this, LPI requested that the Federal Court of Australia move the date of the court hearing for the approval of the scheme. As a result, the court made orders moving the second court hearing to 13 February.

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2021A 0.0 N/A (6.0) (2.16) N/A N/A
2022A 0.0 N/A (12.6) (3.77) N/A N/A
2023E 0.0 N/A (2.7) (0.55) N/A N/A
2024E N/A N/A N/A N/A N/A N/A

Thematics

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Shades of the 1970s

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Critical minerals: The investment vacuum

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Lithium’s adolescence

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Lepidico: Offer closes, oversubscribed

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