LI3 Energy Inc (fka LIEG)

[Dr_Vonschellan]

Lukewarm_off_the_press, step_right_up, gitcher' Maricunga_NI 43-101_meh!

Imagine you have a 2012 Toyota Camry automobile with a Blue Book value of $7,000 but you want to sell it for $10,000. How do you do that?
1. Well you could buy one of those slick gadgets to turn the actual mileage on the odometer of 80,000 miles back to 50,000 miles.
2. You could hire some anal retentive clean freaks to super clean (ie "Detail") your car from top to bottom, ditch the 2012 music CDs in the radio and slip in some new hip 2017 music CDs and include them in the purchase price for free (even though you pirated the music from the web and burned your own CDs).
3. Spend $400 and put some new tires on the car and then spray that shiny tire black goop on the tires.
4. Then hire 2 really hot girls from the local strip club to sit in your car when the easily fooled eBay buyer comes out to your house to inspect the car.

Bearing hired Dan Hains from Hains Engineering Co Limited to produce a NI43-101 to be dated March 20, 2017 (are the new tires smeared with black shiny goop you ask). Danny Boy was the same author of the NI43-101 report way back in ancient times dated May 23, 2012

We LIEG mushroom shareholders today are sitting on pins & needles waiting to find out what the revised total mineral resources are in 2017 especially for the LCE (Lithium Carbonate Equivalent tonnage) on this project... is it really a whopping 1,300,000 mt? But what is the message today from Bearing?

Well, Bearing sent out an Investor Newsletter update today Click Here saying hooray hooray we have a Measured Resource of 107,850 tonnes of lithium. Yeah for us!!!!

But if you multiply 107,850 tonnes of lithium metal by 5.32 you simply get the old boring previous LCE tonnage which is the 574,000 tonnes that we already knew we had back in 2012 and have used in our WAG on February 16, 2017 to determine our market value and PPS. Click Here for Excel spreadsheet. Because once you know the LIEG pps you then only need to multiply that PPS by 31 to determine a fair price for Bearing BRGRF.

I read the Bearing March 20 2017 N143-101 report this evening top to bottom but to be fair I really felt like I was simply reading the LIEG May 23, 2012 N143-101 report again albeit the :
1. The Odometer had been turned back.
2. The 2017 music CDs in the radio included most of the already public domain music from the band LPI down in Australia.
3. The tires were different... they were new retreads made real shiny with black goop.
4. The two hot stripper decoy girls in the front seat were nothing more that our 2 LIEC boys in disguise with blond wigs and padded chests.

I have to give credit to Dan Hains though... at least he had the moral fortitude to admit (albeit in small print) on page 25/3 (175 of 197) that the Summary of Mineral Resources for March 20, 2017 (of the Lithium tonnage) was nothing more than the April 17, 2012 tonnage previously calculated under old management. We LIEG shareholders want the 2017 new estimate for Lithium tonnage and it appears we will have to wait for LPI to publish that figure in their straightforward forthright upcoming report, ie hopefully upcoming, but that is OK.

Form now on I am going to ignore everything Bearing pumps out to us LIEG mushrooms (ie shareholders in the dark cellar). The only thing I am going to trust is the reports from LPI... who very oddly have been deathly quiet since March 13, 2017. Makes you wonder if they (LPI) are still even in the game or if someone in North America has upset them?

If you are wondering why our LIEG share price cratered down over the last 2 weeks to $.0206 in the last 3 trading days, well possibly someone else (not us LIEG shareholders) read this "new shiny black gooped" NI43-101 a couple of weeks ahead of us, vomited, and made a dump while the dumping is good.

And BTW, does anyone know the merger date yet? No? Yeah I thought so.

The Doctor

PS, Dear Steven Howard CEO Lithium Energi Exploration TSX:LEXI , if after your victory in Argentina you are now thinking of swooping in and scooping us up to save us from these amateurs then I think now is the time while LPI is off in the quiet dead zone circling. Congratulations on hiring Miles Rideout as Director of Exploration in the Lithium Triangle... good move. Click Here