WML announced 18 April 2017 that it executed an LOI for an option agreement with the right to acquire a 100% royalty-free interest in a portfolio of exploration concessions in northern Chile.
The acquisition is part of WML’s strategy to consolidate lithium asset land positions in Chile.
The concessions are divided into 5 projects; Ascotan, Piedra Parada, Huasco, Lejia, and Siglia (collectively “Five Salars”).
Five Salars Overview
The Five Salars lithium asset portfolio puts Wealth Minerals in the centre of asset consolidation in the country. WML is currently one of the largest lithium asset owners in Chile and management intends to leverage this position to add value to its portfolio of assets in the Five Salars project. License holders bordering Five Salars assets include: CODELCO, BHP, SQM, Talison, Freeport.
Five Salars Work Plan
Wealth Minerals’ development plan for the Five Salars project involves conducting geophysical surveys in cooperation with neighbors and holders, which include global leaders in the natural resource industry. The Five Salars project puts Wealth at the forefront of asset consolidation in the industry. Potential partners for Wealth on asset development include CODELCO, BHP Billiton, Talison and SQM. This list does not include new entrants that management believes will be increasingly active in acquiring projects as the lithium industry (and demand) develops globally. Consolidation in the industry is already starting, and the recent activity in the Maricunga salar in Chile is testament to the real impetus in the lithium sector to consolidate land positions and coordinate activity among domestic and foreign players (see Lithium Power International, Bearing Resources and Li3 as examples).