Hmm...this annual report shows the below....
Mammoth Energy Group Inc. has acquired a controlling interest in Compania Lithium
Investments Limitada in a stock exchange. Under the agreement, the company acquired 99% of the
capital stock of Compania Lithium Investments in exchange for one hundred twenty five million
(125,000,000) shares of the Company’s common stock, approximately $225,000 USD at the time of the
stock exchange. Compania Lithium is intended to be the first operating entity of MMTE and is in the
business of mining and wholesale distribution of lithium and other minerals.
Salt Gold Inter Chile Limitada lithium concessions consist of 1008 acres in the Salar de Maricunga.
Preliminary results of drilling and chemical analysis from its project under development has returned
results and confirmed the presence of lithium -- potassium brine bearing aquifers. Brine Concentrations
averaged grades of 650 ppm (parts per million) for lithium and 9500 ppm for potassium. These results
confirm a significant third dimension to surface brines sampled on the project. The brine chemistry in
the first test wells compares favorably to other Lithium companies in the region including the large
multi-national Lithium producers whose estimates in the Atacama and throughout the region average
500 to 750 ppm Lithium and 9000-10000 ppm for potassium. Depths at the Salar de Maricunga average
100 Meters or 300 feet and currently acres are valued around $30,000 USD.
The previous annual report shows the below....
Mammoth Energy Group Inc. has acquired a controlling interest in Compania
Lithium Investments Limitada in a stock exchange. Under the agreement, the company
acquired 99% of the capital stock of Compania Lithium Investments in exchange for one
hundred twenty five million (125,000,000) shares of the Company’s common stock,
approximately $225,000 USD at the time of the stock exchange. Compania Lithium is
intended to be the first operating entity of MMTE and is in the business of mining and
wholesale distribution of lithium and other minerals.
Compania Lithium Investments Limitada has already acquired an initial thirteen
lithium concessions for a total of 8649 acres (3500 Hectares) in the southern section of
the Salar de Maricunga, seven concessions for a total of 4695 acres (1900 hectares) in
the Salar de Pujsa, and now with the 2471 acres (1000 hectares) in the Salar del Laco
for a total of just under 16,000 combined acres throughout Chile. Compania Lithium
Investments Limitada acquired these projects as a result of an Asset purchase
agreement that was signed between a Canadian-Chilean based investment holding
company unrelated to Mammoth Energy Group or its shareholders or management.
There are ongoing negotiations currently underway for the purchase of additional assets
located both in Chile, and Argentina. Mammoth Energy Group, Inc.
Annual Report
As of December 31, 2011 Page 9
On May 13, 2011, the Company completed an agreement to acquire a controlling
interest in Compania Lithium Investments Limitada in a stock exchange. Under the
agreement, the company acquired 99% of the capital stock of Compania Lithium
Investments in exchange for one hundred twenty five million (125,000,000) shares of
the Company’s common stock. The shares of stock acquired were owned by Mr.
William Lieberman, the Company’s President and majority shareholder. Compania
Lithium is intended to be an operating entity in the business of mining and wholesale
distribution of lithium and other minerals.
Through Compania Lithium Investments Limitada, twenty registers of Lithium
Concessions have been registered with the mining registry offices located throughout
Chile. This holidings occur in seperate corporations of which Compania Lithium
Investments Limitada controls the majority of shares. Currently the company is
finalizing an additional 20 registers. Once complete all 39 registers will account for
approximately 31,500 acres of lithium reserves and concessions registered to
Compania Lithium Investments Limitada.
