Replies to post #461 on LI3 Energy Inc (fka LIEG)

[DFW]

This is old info and I am not sure if any of the options were executed or not whether in whole or part....

I just dont have the time to ck all the info and I am only playing this as a pure gamble...

Li3 Energy has signed a letter of intent to purchase options to acquire up to an aggregate 80% interest in eleven lithium brine properties covering 123,000 acres in Chile

and options to acquire an 85% interest in four lithium brine properties covering 90,000 acres in Argentina.

The company has also signed a letter of intent to purchase options to acquire a 100% interest in 75,000 acres in Nevada’s Big Smoky Valley.

"Upon closing of our planned acquisitions, Li3 Energy will have secured options on approximately 288,000 acres of prime brine properties in the three largest politically stable brine producing areas of the world."..

Good question....

[DFW]

OK lets see if I can figure this out....

(a quick best efforts shot)

In Chile

http://www.li3energy.com/projects/ni-43-101/IVG-LIEG_NI_43-101_Report.pdf

Li3 has acquired a 60% interest in a property package totalling 1,438 ha in the northeast
of the salar de Maricunga currently owned by Sociedades Legales Mineras (“SLM Litio”
or the”Sellers”) LITIO 1 de la Sierra Hoyada de Maricunga through SLM Litio 6 under
the following terms and conditions:

OK so I see "1,438 ha"

so what is a "ha"

The abbreviation 'ha' stands for hectare, which is a unit of square measurement like an acre.
One hectare is about the size of a football/soccer pitch, or about 2.5 acres.

Read more: http://wiki.answers.com/Q/What_does_the_abbreviation_ha_mean#ixzz1W8UktXnV

using those figures if correct would be 3,595 acres

an acre is 43,560 square feet
by US definitions a Section of land is 640 acres being one square mile (5280 ft in mi x 5280 = 27,878,400 sq ft divide by 43,560 sq ft in an acre = 640 acres)

so the holdings are "undivided" 60% interest in 5.617 square miles
if squared it would be 2.37 miles x 2.37 miles


I have owned farms that size and it is a lot of land.

[DFW]

PERU PROJECTS

Li3 Energy, Inc. has acquired 100% of the Loriscota, Suches, and Vizcachas Projects (the "Projects") respectively located in the Departments of Puno, Tacna and Moquegua, Peru. The projects are prospective of lithium and potassium deposits and are comprised of nine claims that cover a total area of 7,900 hectares (approximately 19,500 acres) at an elevation of 4,300 meters (approximately 14,000 feet) above sea level. The claims are not covered by any restrictions on mining, as they are located in areas designated open to exploration and mining according to Peruvian Ministry of Energy and Mines information. The Projects have undergone preliminary sampling and have been found to contain similar values to regional deposits in other more advanced South American operations that are currently under development for commercial production. The mineralization is similar to salt deposits in evaporitic lakes that are recognized producers of lithium.

http://www.li3energy.com/projects/peru-project/index.htm