Lithium Power International Ltd (ASX:LPI) has clarified its position on talks with Corporación Nacional del Cobre de Chile (Codelco) over a prospective transaction.
Following media speculation, LPI has today verified that discussions with Codelco are ongoing but clarifies that they are still in an incomplete stage and no formal agreement has been reached.
Codelco is in the process of conducting due diligence investigations, which it has been permitted to undertake.
LPI highlights that there is no guarantee that these discussions will result in a finalised transaction. In compliance with continuous disclosure obligations, the company pledges to keep the market comprehensively informed.
For financial advisory, the company has engaged Canaccord Genuity (TSX:CF, LSE:CF) (Australia) Limited, and for legal counsel, it has appointed Ashurst Australia.