LI3 Energy Inc (fka LIEG)

[Dr_Vonschellan]

Dear_Henk, an update from high_up_in_the crow's_nest.
In 2016 much like Libya and Yemen we too were a failed state with no cash in the bank. Our only asset worth talking about as you know was our 17.7% partnership in forest-fire ravaged Chile called NewCo to which we are slip-sliding into becoming an ever-increasing slave to LPI. In November 2016 Bearing Resources offered to save us (primarily from ourselves) by injecting through some good-ole-boy yuck-yuck buddy-buddy convoluted process 16,000,000 shares of TSXV-BRZ worth $.39usd at the time. You could rationalize LIEG then had a "more tangible/bankable" net worth of $6,200,000. LIEG has a total of 495,153,347
shares on the books so we were sorta' worth $.013pps which is what we sunk to immediately.

This morning Bearing announced they were entering into a blah-blah "definitive" something-something agreement to "merge" with us quite similar in fashion to a carpetbagging cancer latching onto your back at the base of the neck and sucking your spine out (or transplanting it) along with half our brain Click Here

Today the Bearing stock is worth USD$.65pps so those 16m shares are now worth $10,472,000 or $.021usd per LIEG share, but yet we languish at USD$.017pps today with not one share sold today as everyone is holding their collective breath.

You would think from reading this online definitive agreement that this deal is pretty much ironclad, but strangely the announcement which Bearing sent to the Bearing shareholders included under Jeremy's signature a strange statement (ie escape clause) in the fine print which reads
The Acquisition cannot close until all of the conditions have been satisfied and there can be no certainty that the Acquisition will be completed, either as presently proposed, or at all.

So today I am thinking that we
1. really do not have much of a definitive agreement to truly bank on or stand upon which could mean we are still easily (read unencumbered) up for sale.
2. that we (LIEG) were through some fancy illusions/paper-shifting were made to look rapidly $4,300,00 more valuable ($10,472,000 minus $6,200,000) to the oriental vultur-esque suitors hanging out in the wings waiting to see how desperate the Chilean government gets for more income revenue to repair all the terrible current wildfire damage thinking Chile will "free up" the cap on lithium production through new legislation which could then be manna from heaven to Chilean junior miners (ie flippers) like us.

So the question today is... are you going to pay the new asking price of $20m (2 times NV) or continue trying to beat them down to the new currently fairly well propped up $10m "mark" which will only give us poor LIEG shareholders a $4.3m improvement in our miserable lives?

The Doctor

PS, you do know that you will have to act before LP1 proclaims this entire project worth $50m in March (formally making our share worth $20m) which will of course be a wink-wink understatement to shield us all by complicating the process fire-wrecked Chile might resort to using to get its true vig once we start pumping that sweet-sweet 1000mg/l juice out of the ponds. Plus once those gobble-gobble Thais see that final LP1 final 43-101 report they are going to know this is a $120m net-net project and then the gnashing of knives will get brutal.

So you see, not one share of LIEG is trading today on the OTC because we are all holding our "pseudo-definitive" breath to see what you are going to do this week.

PS2, if perchance you see any talk of LIEG or MLB (ie Morphed Lieg/Bearing) getting moved to the Nasdaq then all bets are off / Reversed and that will be a whole new glorious wild-west ballgame.