Bearing Lithium Corp. (fka BLILF)

[Dr_Vonschellan]

Codelco_debt could rise to $24,000,000,000 by 2028
See paragraph 4 Click here for Spanish
Chile here for English

New Codelco President Octavio Araneda is a nice enough and smart enough businessman plus a huge improvement over pea-brain midget Nelson Pizarro (who took Codelco during his sleepwalking term to $16B debt mark), but he is not Superman and I doubt he can build/consolidate even 10% of the critically needed management energy/resources along with government support to save this beached whale Codelco. The beached Codelco whale carcass is already starting to smell and it is only going to get worse.

We at MSB already have enough problems with our minimally capable dull management team... we don't need to "insert" ourselves into the financial maelstrom that is brewing around Codelco now which is a result of President Pinera's dismal failure to secure the $21B loan (handout) umbrella from Xi Jinping back in March on Pinera's surgical-strike visit to China.

We need to declare the MOU with Codelco null and void and get as far away from this impending shit storm as soon as possible. We don't have the wherewithal and neither does Codelco to solve this huge growing problem of how to finance a state-owned company where all the profits needed for reinvestment/expansion have been completely sucked out of the company by elected bloodsuckers for the last 20 years to the point there really isn't anything of consequence (esp including technical brainpower) left inside the shell of Codelco and won't be for the next 10 years. Codelco has become a dumping ground for recent book-learnt inexperienced daddy-coddled white zero-hungry college graduates... we have already had enough recent book-learnt inexperienced daddy/mommy-coddled zero-hungry college graduates, we don't need any more. We need CAPEX money and experienced people/engineers with brains.

We need to extricate ourselves from the MOU and find another partner, one with actual substance... we simply can't be handcuffed to this dying Codelco whale for the next year. Codelco will take us down the toilet with them.

The Doctor