DESCRIPTION: Salares Lithium Inc. is a lithium exploration company focused on its "Salares 7" project in mining friendly Chile. The project consists of 96,604 hectares (966 sq km) with 39,404 hectares (394 sq km) of exploration potential solely within actual salares/brine lakes. The company believes this is one of the largest land and pure salare concession packages in the lithium exploration sector. Historic sampling (non NI43-101 compliant) has returned lithium and potassium in all 7 salares with grades up to 1,080 ppm lithium and 10,800 ppm potassium. Salares controls, with its local Chilean partner, 100% of five salares clustered within 155 kilometers, resulting in no severed ownership.
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"Salares Lithium Inc. shares were unchanged at $0.62 after the company said it and Talison Lithium Ltd. have signed a definitive merger deal. Salares is a lithium explorer in Chile that controls the 'Salares 7' lithium project. Talison mines and processes the lithium-bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. Based in Perth, Talison has an extensive, well-established global customer network and a leading position in the growing Chinese market. Salares shareholders are scheduled to vote on the merger on September 16."
Mining Weekly (07/27/10)
"Talison Lithium has agreed to buy Salares in an all-share transaction. . .The deal is strategic, in that it creates not only the biggest pure play lithium producer, but also combines both mineral and brine assets and expertise in a single company. . .Assuming the proposed transaction is completed, existing Salares and Talison shareholders will own 20% and 80% respectively of the combined company. . .The firm will be known as Talison Lithium, and will seek a listing on the TSX."
Resource Investing News, Dave Brown (07/21/10)
"Last Thursday, a binding letter agreement was executed to combine Salares Lithium and Talison Minerals to strategically merge their respective lithium assets and create the world's largest, publicly traded lithium production and exploration company. Effectively the merger should provide an attractive diversified mix of lithium mineral and brine assets in both Australia and Chile, offering a combination of the Australian-ized lithium minerals production with promising, relatively low-cost lithium-brine exploration properties located in Chile.
Lithium investors will be extremely interested in this development, as Talison has announced immediate operational expansions are required in production to satisfy substantial growth in lithium demand from Chinese battery producers, for whom the company is the primary supplier. Unanimous support from both boards of directors to endorse the transaction appears to indicate an excellent fit and strong cooperation between the corporate cultures."
Thom Calandra, Stockhouse (07/21/10)
"Salares has a fresh price of $1.25 Canadian a share in value if a proposed merger with Talison Lithium down under proceeds as expected. The merger was unveiled several days ago. . .Salares' Todd Hilditch tells me: 'Until we complete the transaction, we will be part of the only pure-play lithium-production, publicly listed company that exists.' [His] company is a lithium wannabe producer from brine in Chile. I give Todd Hilditch credit. In March he told me some 72% of the world's lithium production comes from brine producers due to the economics/cheaper production. Lithium's price has about tripled in the past 10 years."
Michael Berry, Morning Notes (07/16/10)
"Good news for shareholders of Salares Lithium. After close yesterday, Talison—the largest lithium producer in the world—announced a $40M private placement and 80/20 merger with Salares. The deal is worth $1.25/share for LIT shareholders (trading at C$.60). . .Shareholders of LIT are now completely de-risked and will own shares in one of the largest lithium producers in the world and one of the largest suppliers to the Chinese market. Talison will also be listed on the Toronto Stock Exchange in the near future. The newco will be the only TSX-listed lithium production company and therefore it will be the go-to source for investors, funds, ETFs, etc. for exposure to lithium production with blue sky upside on the Chilean brine exploration. The combined story, as the only pure-play listed lithium producer in the world, may well become the 'go-to' lithium name much as PCS is the go-to name for potash or Cameco is for uranium."
Salares featured on BNN (7/23/10)
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