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Gustavo_Lagos PhD_explains why_a majority-share NLC_is stupidsheet
https://miningpress-com.translate.goog/nota/353908/lagos-por-que-chile-no-puede-con-una-empresa-nacional-del-litio?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
A state-run majority shares holding NLC will never have enough money or enough brains to operate a successful lithium mining enterprise.
The Doctor
Simply_bookmark this_page on_CORFO/SQM/Albemarle for_future reference
https://www.latercera.com/pulso/noticia/el-litio-deja-a-corfo-en-cinco-anos-todo-lo-previsto-hasta-2030/YUHEFRZT5NEYNGHKZ2KYLHCKXE/
We will need some of the statistics for reference later.
the Doctor
==================
Lithium leaves CORFO five years ahead of schedule through 2030
by Víctor Cofré
"SQM Contract Projection". Sheet 18 was so titled and projected that, according to CORFO, the non-metallic miner SQM should pay until 2030 for the lithium exploitation rights that the Treasury extended in exchange for a new payment table that taxed at higher rates each ton of lithium that was extracted from the Atacama salt flat. The filing is dated January 2018, when CORFO was presided over by Eduardo Bitran, former Minister of Public Works who led the hostile negotiation with SQM over lithium rights. That agreement today feeds the fiscal coffers and that is why in the officialism they have remembered with flattery the pact that Bitran forced in the second government of Michelle Bachelet. But at that time nobody, not even Bitran, imagined that his predictions would fall so short.
CORFO's projection in 2018 was that SQM would pay between that year and 2030 the equivalent of US$4.189 billion for lease rights. That target expected in 13 years was met in only five years, or almost. Between 2018 and 2022, SQM has paid to the Treasury for the rights of CORFO, land holder of the Atacama Salar belongings, almost US$4 billion, pushed onward by a lithium price boom. In 2022 alone, SQM paid the equivalent of US$3.272 billion, according to the financial statements at the end of 2022 of the mining company in which Julio Ponce and China's Tianqi participate. CORFO's projection assigned only US$266 million for 2022.
The same over-compliance, although less than that of lease income, occurs with the income tax of 27% of the profits. For the 2018-2030 period, CORFO estimated a total payment of US$4.018 billion. In five years, half has already been achieved: US$2.180 billion, again with the boost of the extraordinary 2022, when SQM paid income tax of US$1.572 billion.
The difference lies in the 2018 renegotiation formula. Until 2018, SQM paid as ROYALTY to CORFO 6.8% of lithium sales. But since that year, CORFO managed to replace that percentage with a formula that depended on the evolution of the price. It started at 6.8%, but the marginal rate reached 40% when the price exceeded the US$10,000 per tonne barrier. At that time that was an attractive price and difficult to sustain over time. Global demand has since said otherwise.
"The negotiation allowed that, in a scenario of extraordinary prices, which was of low probability, the State would capture most of the rent," says a negotiator from those years at CORFO. And that low-probability scenario happened. And so with flying colors. In 2022, SQM sold its production at an incredible average of US$52,000 per metric tonne.
To calculate the contributions to the Treasury for the following years, CORFO based its 2018 forecasts on the price projections of Signumbox, a consulting firm created in 2009, a specialist in lithium, and headed by Daniela Desormeaux. But everything that was thought at the beginning of 2018 changed in the following years.
The decision by many governments around the world to stimulate electromobility and promote the use of electric cars triggered an explosion in demand. In 2008, the world consumed 288 thousand tonnes of lithium carbonate equivalent (LCE), the reference unit in the industry. The state agency Cochilco (who runs Codelco) estimated in 2020 that this figure would rise to almost 500,000 tonnes by 2022. But SQM says that the market reached 760,000 tonnes last year. And that by 2025 it will double again to 1.5 million tonnes. Seventy percent of the demand comes from car batteries, and 90% from SQM's production that goes to Asia.
"The fundamentals behind demand growth are solid, with electric vehicle sales growing in all markets, especially in the USA market, positively impacted by the Inflation Reduction Act-IRA, which allows us to believe that demand this year should grow by more than 20% compared to 2022?, SQM said in its balance sheets as of December.
A volume issue
SQM leases from CORFO a total of 16,384 mining properties from CORFO in the Atacama salt flat, equivalent to 81,920 hectares. Up to that date, from 1993 until 2030, it had the right to exploit 180 thousand tons of Lithium Metal Equivalent (LME) in the whole period. That figure is equivalent to a production of almost one million tons of lithium carbonate equivalent (LCE). In 2018, in exchange for changing the total payment, CORFO multiplied the rights by three: it added 349 thousand tons of LME, equivalent to another two million tons of lithium carbonate until 2030. Thus, a quota of 216,000 tonnes per year is estimated. With the new rights, SQM undertook expansions. And it tripled.
In 2018, SQM sold 45 thousand tons and generated revenues of US$734 million. In 2022 SQM sold three times more, 157,000 tonnes, but multiplied its sales by 10 times: US$8.152 billion. The annual production capacity is already 180,000 tonnes and it is executing an expansion to 210,000 metric tonnes starting next year.
In 2018, SQM claimed 17% of the global market, in 2022 it is 20%.
The Albemarle case
The change that Eduardo Bitran forced for SQM in 2018 had been made earlier, in 2016, with Albemarle, a company that also has holdings in the Atacama salt flat, but in a smaller dimension than SQM: 16,000 hectares. Albemarle also benefited from a quota increase: to the 100 thousand LME tons it had left in 2018, it added another 262 thousand, but until 2044. In lithium carbonate, there are 80,000 tonnes per year, versus 216,000 tonnes for SQM.
To compare with SQM, CORFO's expected revenue between 2018 and 2030, also based on Signumbox's forecast prices, amounted to US$1.43 billion. By 2022 the forecast was US$149 million in lease royalties. Again, the forecasts were outdated. "In 2022 Albemarle paid more than US$650 million in royalties alone, which implies a contribution 14 times higher than in 2021?, the company told Pulso. The firm produces 50,000 tonnes per year - one third of SQM - and plans to reach 85,000 tonnes in future expansions.
And everything points to another good year.
As_a shareholder,_demand "Proof_of Life"_from LPI_now before
it's too late https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171411433
The Doctor
Leftists_try to_fund Universal_Guaranteed Pensions_w/Lithium_money
Finance Minister Mario Marcel says (and I am paraphrasing here), "whoa muchochos, not so fast you slippery beaners"
https://eldiariodesantiago-cl.translate.goog/archivo/6512?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
and/or Marcel: royalty income "is not enough" to offset the effect on collection and exploitation of lithium (since we) will not have a state monopoly.
You know, when it is all said and done... Mario is our only "sort of" level-headed ally in this whole leftist government.
The Doctor
It_is a_sad sad_day for_lithium mining_in Chile. Marcela_has survived
the March 10, 2023 purge. https://www-ex--ante-cl.translate.goog/boric-saca-a-5-ministros-para-iniciar-nueva-etapa-tras-caotica-jornada-en-la-moneda/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
I thought we could count on Mommy's Boy Gabby Boric to come to his senses today... but radical leftist communista RP (Radical Party) bullsheet won the day instead.
It is time to cry fellow shareholders... we've been kicked in the nuts once again.
The Doctor
Hmmm_cryptic. Is_Sorcia/iBat going_to Argentina?_Or Chile?_Or both?
Which country is getting priority (ie "first dibs") on this new equipment?
https://www.portalminero.com/wp/sorcia-minerals-firma-acuerdo-con-ibat-para-la-llegada-de-plantas-de-extraccion-de-directa-de-litio-a-sudamerica/
See https://www.ensorciametals.com/
Are they coming to (ie are they committing to) Maricunga? https://www.ensorciametals.com/press/sorcia-minerals-earns-lithium-rights-in-the-salar-de-maricunga-chile
This then begs the question... are we (LPI) finally marrying up with Sorcia/iBat/Simbalik/SIMCO?
The Doctor
From_PDAC: in_summary everybody_is cocked &_ready but no_one
in their right mind is pulling the trigger on any more serious lithium mining in Chile until
1. Anti-Mining Minister Marcela Hernando is fired.
2. The Royalty increase threat is extinguished for a period of at least 10 years.
3. The threat of sliding variable (leftist/commie arbitrary sliding) tax increases is is extinguished for a period of at least 10 years.
4. There is a legal transparent vehicle for obtaining LCE export quota licenses not subject to the insane extortion-susceptible drawn-out nightmarish CChEN/SEA-EIA/blackmailing-indian-asskissing/environmental bureaucratic process now delaying/killing all development.
Also see https://www-guiaminera-cl.translate.goog/camara-minera-litio-y-royalty-fueron-protagonistas-de-las-consultas-de-asistentes-a-pdac-2023/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
The Doctor
Bank_of America:_we also_want to_bad-mouth lithium_so we can_buy
our favorite lithium miners at a steep discount as more people buy EVs https://www-redimin-cl.translate.goog/se-avecina-una-crisis-del-litio-bank-of-america-anuncia-excedente-para-2023/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Hell, if Morgan Stanley can do it... then we can too.
JP_Morgan saying_Chile will_fall to_4th place_in lithium if_Mommy's Boy
Gabby Boric doesn't pull the rag out of his ask https://www-reporteminero-cl.translate.goog/noticia/noticias/2023/03/industria-baterias-tendra-90-demanda-litio-2026?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
Dear Mommy's Boy Gabby Boric, you can begin pulling the rag out of your ask by first removing the blocking "cork" in your ask hole... fire the blocking "cork" Anti-Mining Minister Marcela Hernando asap.
The Doctor
Dear_Russell Barwick,_we need/want_"proof of_life" certification from_LPI
that the company is still alive. We suggest you hire those Zoom prostitutes at Proactive Investors or Motley Fool and offhandedly leak a PR blurb saying 3 or 4 "biggie" investors (eg Tianqi, BMW, VW, CATL, GM, Ford, Ganfeng) were sniffing our LPI butt this past month in Chile. And please don't insult our shareholder intelligence by saying this information is classified...fockclassified... it is way past the time of classified with us shat-upon LPI shareholders.
Albemarle just did this exact same PR procedure by touting Tesla, BMW, Mercedes Benz and Volkswagen have visited their site in the past month https://www-redimin-cl.translate.goog/albemarle-invierte-us-650-millones-para-subir-produccion-de-litio-y-llevara-agua-de-mar-al-salar-de-atacama/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp and properly "sniffed" Albemarle's butt.
LPI can simply follow the recent Albemarle PR example on keeping shareholders "in the loop".
You can easily do the same for a long overdue LPI "proof of life" certification.
The Doctor
Oooo_they are_teasing us,_CNN says_Anti-Mining Marcela_Hernando
the ultra leftist/commie Anti-Mining Minister is probably getting the axe later today
https://www-cnnchile-com.translate.goog/pais/cambio-de-gabinete-gobierno-boric-ministros_20230310/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
... ohhhh be still my beating heart... wait til the official announcement and then rejoice aloud.
The Doctor
Cross_your fingers! Anti-Mining Marcela_Hernando might_get fired_Friday
She has just made the Middling Top 7 losers' list and now we have to pray she getsshitcanned on Friday March 10, 2023
https://www-ex--ante-cl.translate.goog/el-trasfondo-del-cambio-de-gabinete-quienes-por-que-y-hacia-donde-apunta-boric/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp see paragraph 17
Dear Anti-Mining Minister Marcela Hernando, if you get fired on Friday then let me be the first to say to you, "good riddance you mining-hating male-hating moron, I hope some day you accidentally swallow some lithium and croak".
The Doctor
Dear_Crystalballs, hey_greaseballdipshit, why_do you_treat us_shareholders
like we are the enemy and you stonewalling/withholding every single snippet of guidance/update news from us? You need to remember that we poor 6-years shat-upon shareholders pay your salary through the constant dilutions you (and those useless ozzie parasites) inflict upon us shareholders. It's time we deserve some respect and be brought up to date on the company's progress... or lack of progress thereof in your case.
The Doctor
Somebody_is buying_Lithium Chile_Inc, let's_hope it_is not_Tianqi
... or we are back to square one
https://www.mining.com/lithium-chile-confirms-buyer-interest-in-its-assets-following-stock-halt/
The Doctor
Chamber_of Commerce:_Rejection of_Tax Reform_gives peace_of mind
to commerce and the Chilean economy https://eldiariodesantiago-cl.translate.goog/archivo/6416?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Hear hear.
The Doctor
Oh_nooo, Tats_Boric &_Mario da'_Bruiser are_gonna' take_our lunch_money
smash my music class trombone case, and kick us in the nuts tomorrow morning while we're waiting for the school bus at the bus stop https://www-ex--ante-cl.translate.goog/reforma-tributaria-boric-y-marcel-profundizan-ofensiva-para-hacer-pagar-costos-a-la-oposicion/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Quick, somebody go tell Principal Bormann at the school and get him to provide bodyguards for us poor defenseless students while we wait for the school bus tomorrow morning at the bus stop.
The Doctor
Aclara_gets nice_Portal Minero_write-up on PDAC_exhibit
https://www.portalminero.com/wp/proyecto-de-tierras-raras-en-chile-expone-en-feria-pdac-2023/
The Doctor
Maybe_we should_simply have_Albemarle refine_our ore_instead
of us (LPI) doing it onsite or Posco doing the refining (note: Posco would refine it just over the border in Argentina) https://www-reporteminero-cl.translate.goog/noticia/noticias/2023/03/albemarle-invierte-us-650-millones-plantas-litio?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
We could cut our CAPEX by US$500M and get this whole project moving a whole lot quicker. Albemarle could refine their lithium ore on the day and afternoon shifts as planned and then do our refining on the midnight shift once we agree to pay the workers midnight differential of course.
SQM sends their lithium ore offsite by truck 50 miles+ for refinement processing... we could also. Albemarle ore bags would remain white colored and our ore bags would be shocking pink colored to support LGBTQ in Chile in order to know for sure who's bags belong to who.
The Doctor
Lithium_& molybdenum:_most exported_products in_first 2_months of_year
https://www.portalminero.com/wp/litio-y-molibdeno-los-productos-chilenos-mas-exportados-en-los-dos-primeros-meses-de-este-ano/
You think the leftists/commies were uncontrollably salivating all over themselves in January & February on the newly reported rise in lithium exports from Chile... ha, just wait until July, these bloodsucking parasites will be ejaculating all over each other clawing to get into the your/our lithium business cutting in line bypassing the niceties/protocols of conventionally buying stock in us with their own money. No siree, they will all have their grubby dirty thieving palms outstretch toward us miners looking for free shares in every lithium mining company wanting to "start up" in Chile.
The Doctor
Yes_Dangero,_there are_6things more_important than_the Codelco/Simbalik
beaner clusterfock you easily distracted LPI-HotCopperites are fixating on https://hotcopper.com.au/threads/the-ministry-of-mining-accepted-application-from-codelco-to-extend-ceol.7045502/page-151?post_id=66678004 as we alluded to in our recent post https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171395958
Priorities:
1. Why exactly do we remain completely physically immobilized unable to even pick up a single shovel and start mining our grandfathered approved Stage 1 project which has all its permits and has been "shovel ready" for the last 3 years?
2. Who in general nebulous terms are 3 or 4 "sample" suitors (and management should be able to easily leak the suitors' names as they did with Fulin in 2017 without retribution) "interested" in financing lithium mining on our Maricunga property?
3. The recent meeting with Mining Minister Marcela Hernando included the top guns from Tianqi Lithium and our top gun from LPI Russell Barwick in the same room at the Ministry of Mining. Did LPI and Tianqi propose to the Minister that they (ie we) wanted to form a JV to mine lithium in Maricunga?
4. Does the March 8, 2023 parliamentary setback for Gabriel Boric on Tax Reform including mining tax increases and new mining royalties on miners in Chile giving us a one year "grace period" & breathing room mean LPI will now be able to negotiate with any new Whitey investors on funding our project or perhaps selling our project?
5a. Why is LPI management obviously refusing to answer all the inquiries from shareholders, refusing to give us shareholders any guidance in 2023? And 5b. Is a new CR (capital raise) coming up within the next 90 days?
6. WTF is going on with the Western Australian property property spin-off? Why is this simple process so mysterious and taking so long to execute?
The #7 priority of knowing how the Supreme Court will rule on the Codelco/Simbalik-SIMCO border dispute is interesting in that we will have a similar situation affecting our disputed border in Stage 2 with Codelco but within another year or two the super-sucker pumps being designed for lithium mining are going to be so powerful that we won't even have to set up equipment on the Stage 2 property... using radio-controlled multi-directional drilling heads we will be able to horizontally "snake into" and suck all the Stage 2 lithium (in the higher underground elevation) from underground and store it plus extract it over on our Stage 1 property (lower underground elevation) so who really gives 2shits if Codelco has blocked us from setting up any hardware on Stage 2?
The Doctor
Experts_saying Boric_must cut_deadweight out_of his_cabinet immediately
given the huge stunning Tax Reform loss Wednesday https://www-ex--ante-cl.translate.goog/reforma-tributaria-el-peor-error-no-forzado-del-gobierno-por-kenneth-bunker/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp see paragraph 1 under Boric's worrying picture
Let's all hope deadweight Anti-Mining Minister Marcela Hernando getsshit-canned by Friday just before Willy Kracht comes back from Canada.
The Doctor
Dear LPI-HC, you_don't need_a VPN_to get_the Codelco/Simbalik update
which is only a priority 7 on a 10 point priority list for this LPI project. There are much more important things going on now than this sideshow.
1. Go to https://oficinajudicialvirtual.pjud.cl/home/index.php
2. Click on the button Consulta sausas (ie first line, last button)
3. In next window, enter 13228 in the RoI box
4. Enter 2022 in the Año box and click the Buscar button
5. in the fold-down "results" view which will list only one result:
13228-2022 (Civil) Casación Fondo SIMBALIK GROUP INVERSIONES LIMITADA CON FISCO DE CHILE (MRA.) 04/05/2022 En Estudio Corte Suprema
simply click on the magnifying glass icon on the left side preceding this description.
The Doctor
Dear_Marcela Hernando,_Ex-Mining Minister_Aurora Williams_did 0%
good for lithium miners and her nonstop airhead babbling about nothing of consequence at every podium (including her embarrassing flop at the PDAC podium) she touched was truly tiresome/chalkboard-nail-scratching... nobody could stand listening to her rambling on about total her esoteric leftist/commie bullsheet/nonsense more than 3 minutes https://www-reporteminero-cl.translate.goog/noticia/noticias/2023/03/aurora-williams-hemos-pasado-8-sobre-15-participacion-mujer?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
She also loved packing her buddies from the lesbian/dyke team into make-work jobs at "captive" mining companies like Codelco's subs trying to ingratiate themselves to her political position as Mining Minister.
Well we used to think no Mining Minister could be worse than Aurora Williams and her 0% achievement in benefit for lithium miners but you will surely beat her with your stupid babbling plus your constant exclamation that you own all the lithium in Chile at every public lectern with a microphone and camera you similarly touch. And at the rate you are going your overall percentage beneficial help for lithium miners will easily be less than 0%... probably something close to a negative 25% on helping us lithium miners even begin or endure in Chile. You are the worst most-unqualified "token" mining minister Chile has ever had and I used to think nobody could be worse than that dimwit Aurora Williams.
The Doctor
Germany:_we can't_buy any_lithium miners, so_let's block EV_adoption
in the EU by 2035 https://www.politico.eu/article/germany-czechia-italy-2035-eu-combustion-engine-ban-gains-allies/
Dear Mommy's Boy Gabby Boric, are you happy now?
You are making Germany cry and go back to mass-producing fossil fuel burning cars.
Shame on you.
The Doctor
Cc: Herr Martin Borda, can't you get off your dead ass and do something here for der Fatherland Germany?
I_predict turtle_TheGekko will_be sticking_his head_out of his_shell
within a week to bask in the ensuing lithium-related glory anew with a fresh new load of pontificating crap.
The Doctor
Dear_Crystalballs, not_once in_6 years_have you_given us_a
single political insight, not any political feedback, nor a shred of political advice on suggested political positioning inside Chile, or even one political commentary/analysis affecting us shareholders in a timely simple shareholder "guidance" update all of which should be included as a twice per year "happy" obligation in your basic salary package. One might knee-jerk think your years-long stonewalling of us beaner shareholders is a suave sophisticated Latino deliberate ploy but I think it is simply because you are an empty-headed ask-kissing parasite milking this job for all it is worth doing nothing of value for us shareholders. And hence, the reason LPI has never been on the leading edge of anything or any movement in these last dead-in-the-water 6 years.
On you resume (CV) for when you go looking for your next your next job you should lead off with a bold printed header that says:
______In political matters I am one big "no-comment" Chickenshit Blob.
and then list your one or two previous accomplishments which no LPI shareholder here even remembers now because those over-hyped-by-you accomplishments were so insignificant and not even related to professional mining or worth remembering.
The Doctor
UDI & Chile_Vamos take_a well-deserved Victory_Lap
https://www-ex--ante-cl.translate.goog/guillermo-ramirez-udi-y-rechazo-de-reforma-tributaria-se-lo-advertimos-al-gobierno-una-y-otra-vez/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Congratulations UDI and Chile Vamos
The Doctor
Oh-boy, how_much classified_insider info_does Ex-Mitsui Álvarez_know
about us (ie "us" as in Maricunga Salar Blanco "us") and our TRUE calculations on the volume of rich brine we own in the Mother Lode sitting dead center under our Maricunga property? https://vnexplorer-net.translate.goog/ricardo-alvarez-dejara-mitsui-para-dedicarse-100-al-directorio-de-codelco-s700436.html?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Since 2012 I have always thought we owned 4 to 5 times more lithium than we were actually telling the public in our published documents (ala the very smart SQM/Albemarle modus operandi). The question for us now is "did Herr Martin Borda and Crystalballs believe the same as me and did they tell Mitsui the heretofore confidential exact volumetric numbers in their negotiations/bragging with Mitsui?"... which Senor Ricardo Álvarez would then have heard most likely... who now works for our arch enemy Codelco?
And if that isn't enough with Codelco to worry about...
Codelco_CEO meeting_with Japanese_Marubeni
https://www.portalminero.com/wp/codelco-se-reunio-con-principales-ejecutivos-de-la-compania-japonesa-marubeni/
to apparently discuss desalinization plants.
And you might ask, "what would it cost to run desalinated water to Maricunga just out of curiosity?"
Well, you longtime readers here will remember from our Bearing iHub posts that we once calculated it would cost a little under US$2B (based on Albemarle's leaked hardcost budget for similar work) to run desalinated water from the Pacific Ocean up to Maricunga using three lift stations.
And then you might ask, "but is Marubeni now interested in Lithium?"
Yes, it turns out that Marubeni is interested in lithium in a sort of backdoor fashion https://www.marubeni.com/en/news/2023/release/00017.html
And if Marubeni is interested in lithium, do they have a major lithium-industry backer in their stable?
Yes again, Berkshire Hathaway Inc (ref Warren Buffet) is a 6.83% shareholder https://www.marketscreener.com/quote/stock/MARUBENI-CORPORATION-6491313/company/
I think we need to start watching Máximo Pacheco a lot closer now... for good measure.
The Doctor
With_Tax Reform_defeat, it_looks like_the Mining_Royalty Bill is_DOA also
"by association" at the minimum for one more year which could happily push it for legislative reintroduction into the 2024-2025 presidential campaigning phase and no candidate in his right mind will want to talk about raising/jerking-around taxes in that "most tender" period.
Mario Marcel suffers the worst defeat of his administration after the Rejection of the Tax Reform in the Chamber of Deputies
https://www-ex--ante-cl.translate.goog/mario-marcel-sufre-la-peor-derrota-de-su-gestion-tras-el-rechazo-de-la-reforma-tributaria-en-la-camara-de-diputados/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp See bullet point 6 under paragraph Collection.
For Royalty Bill progress "moving in tandem" with the Tax Reform Bill click below
https://www-senado-cl.translate.goog/appsenado/templates/tramitacion/index.php?boletin_ini=12093-08&_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Dear Beaner Friends/Amigos, this defeat in the Lower Chamber of Deputies today might just qualify as the best news we miners have heard in all of 2023.
The Doctor
Holy_smokes, Boric's_new tax_program might_be gettingshitcanned for_1yr
https://www-cnnchile-com.translate.goog/economia/reforma-tributaria-camara-diputados-gobierno_20230308/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
and/or https://www-theclinic-cl.translate.goog/2023/03/08/camara-rechaza-reforma-tributaria-gobierno/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Lower Chamber does not reach required 78 votes to approve Boric's new tax reform program. If the Senate also craps on this bill then all further talk of tax reform gets shut down for one year which of course is good news for us miners... that is, good news for us miners hoping for a centrist (or right wing) candidate to win the presidential election in 2026 and a return to a more equitable/stable "miner-friendly" tax program in Chile.
The Doctor
Chile_announces shutting_down Ventanas_Smelter for_14th time...boring
https://www-reporteminero-cl.translate.goog/noticia/noticias/2023/03/se-aprueba-proyecto-ley-habilita-cese-operaciones-fundicion-ventanas?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
The only thing halfway "positive" that Smokey the Bear Anti-Mining Minister Marcela Hernando has accomplished in the entire past year is the shutting down of Codelco's Ventanas Smelter... and so like clockwork every 2 weeks she gets another campaign-boosting write up in the leftist newspapers (who will be supporting her run for the president in 2026) making it sound like she is the most astonishing productive Minister of Mining the world has ever seen when in fact she doesn't know jackshit about real mining or how to even "grow" a mining operation. The only thing she knows is how to close down a mining operation which we are all going to hear about again... for the 14th time.
The Doctor
Just_once I_want to_see a_photo-op picture_of fem-miners in dirty_orange
safety vests with knicked-up dirty hardhats and a few broken red-polished fingernails.
https://www.portalminero.com/wp/mas-de-un-20-de-las-personas-que-trabajan-en-antofagasta-minerals-son-mujeres/
or https://www.reporteminero.cl/files/640896ee260d3_890x533.webp
If the Chilean mining industry keeps over stuffing in all these powder-puff deskjob armchair female miners onto the labor rolls instead of men then quite soon the wholefocking show will collapse on its own weight as there will no more real workers "down in the dirty hot toxic-air mines" actually digging up minerals.
Dear Anti-Mining Minister Marcela Hernando, you need to replace more men in Codelco with your vote-leftist/commie lesbian/dyke team members... seriously, we ain't kidding... fire more mining men in Codelco and install your 90-day leftist/commie wonder women in their place. Argentina's Cristina Fernández de Kirchner is so proud of the work you are doing in Chile... it is a tribute to the way Christina ruined Argentina's economy by over-loading the kissing-ass government-subsidized companies with leftist females when she was president 2007-2015.
The Doctor
As_a flailing_start-up, LPI_can apply_for_a US$25,000_grant from_SQM
https://www-guiaminera-cl.translate.goog/sqm-lanza-primer-programa-de-aceleracion-corporativa-enfocado-en-startups-y-en-litio/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
I vote that we apply for this US$25,000 grant (ie handout) from SQM to get our "start-up" lithium project going in Maricunga and then show this money as income on our 2023 financial statement to prove to Whitey (and Yellow) investors that LPI is indeed capable of making money in these last 6 years of completefocking destitution/cash-drain being run into the crapper by these pretend-miner ozzies in management.
The Doctor
Dear_Tianqi, we're_on Autopilot_for the_next 3yrs. Our_price is_US$1.65B
still. This price will go up incrementally each month until it settles in at US$2.8B when the new government takes over in 2026.
Best wishes,
The Doctor
Frumpy Anti-Mining Marcela_says, yuck,_lithium bad_bad, evil_evil, spit_spit
https://www-reporteminero-cl.translate.goog/noticia/noticias/2023/03/ministra-hernando-aclaro-estado-dueno-litio?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
And a special thanks to Augusto Pinochet for making lithium a Strategic Mineral thus giving birth to a powerful shrouded dynasty to create a secretive monopoly on this mineral to be run (and profited from) by his children, in-laws, relatives and fascist-party associates... which we conniving leftists/commies have now entirely co-opted to turned into a windfall money-printing profit-machine for us communista-party apparatchiks (especially for my lesbian & dyke girlfriends) under Bachelet and Boric. We (the State) own lithium... and you neo-liberal free-enterprise progressive businessmen will have to pry it out of my cold dead hand to take it back... nyah nyah.
Leftists/commies trying_to raise_copper tax_25%... copper_1st, lithium_2nd
https://www-nuevamineria-com.translate.goog/revista/royalty-seria-la-mayor-alza-de-impuestos-para-sector-minero-en-68-anos/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
Leftist/commie Senators want to strangle the copper golden goose before it even gets off the ground again. If the leftists/commies win this tax increase then they will be thinking "well, what is good for the copper goose is good for the lithium gander also".
The Doctor
LPI_says, "put_me in_coach, put_me in_coach, put_me in_coach"
https://www-nuevamineria-com.translate.goog/revista/gobierno-ingresaria-este-ano-proyecto-de-empresa-nacional-del-litio/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
"Coach, I have been sitting here on the bench for the last 6 years, I have been intently listening to your crock of sheet for the last 12 months and swallowing every bit of it hook, line, and sinker... please put me in coach, give me the ball, please pretty please".
The problem here is that LPI has been stonewalling all the shareholders keeping us completely in the dark "out of the loop" afterfocking everyone here royally for the last 5 years never meeting even one milestone so there is no real tangible grass roots support amongst the shareholders to believe in our management who we hardly recognize anymore sitting back in their comfy air-conditioned Australia offices while they all (save Russell Barwick) avoid coming to Chile to get their dainty pretty hands dirty doing actual work here. Instead they send some lackey toothy beaner with no political connections to anyone who knows next to nothing about mining finance/contracting around to ad hoc meaningless busy-bee rah-rahass-kissing shows re-mouthing the current government's empty platitudes that are producing zero effect in the lithium industry other than keeping SQM/Albemarle firmly in the driver's seat for another 3 years.
The Doctor
Dear_Dangero, I_don't think_investors are_so concerned_about the_Codelco
related court cases or the NLC form (ie NLC barriers-to-entry) any more than normal for any other 2-bit leftist/commie banana republic South Americanshithole government https://hotcopper.com.au/threads/lpi-the-next-lithium-producer-in-chile.6650218/page-2784?post_id=66644778
I think what the Whitey (or Yellow Tianqi) investors "primed" to invest in our Maricunga project are primarily more worried about is just how exactly they can rid LPI of Crystalballs and all the loser do-nothing incompetent ozzies running and infecting upper management in the company in one swift lightning-strike exorcism the same precise moment they buy into LPI or buy LPI outright. For these sophisticated Whitey (or Yellow) investors to have any stinking slimy remnants of Crystalballs or the ozzies hanging-on after the JV/buyout "deal" is made would be disastrous and very counterproductive... so getting rid of these management liabilities first is actually probably more higher on their agendas. I hope this answers your question.
The Doctor
Iiiiiittttt'sssss showtime
https://www.portalminero.com/wp/subsecretario-kracht-valora-presencia-de-empresas-mineras-nacionales-en-inauguracion-pdac-2023/
Dear Willy, break a leg.
The Doctor
Mining Ministers AuroraWilliams, BaldoProkurica went to PDAC. Marcela
Hernando is not being allowed anywhere near this PDAC convention in Canada https://www.portalminero.com/wp/sonami-participa-en-feria-pdac-para-promover-inversiones-mineras-en-chile/
... and for good reason. The people/investors/reporters attending PDAC actually know something about the basics of mining and within 2 minutes any of those people talking to Marcela Hernando would know they are talking to an ignoramus anti-mining buffoon totally out of her league in mining minerals.
It is better Mommy's Boy Gabby Boric kept her at home in Chile where she can do the least amount of damage with/from sharp intelligent Whitey investors. It is time to instead promote Willy Kracht on the "international stage".
The Doctor