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American Lithium (AMLI) has announced a significant 476% increase in measured and indicated lithium resources at Falchani.
Macusani Concessions Cautionary Note
Out of 169 concessions held by American Lithium’s subsidiary Macusani, 32 are currently undergoing Administrative and Judicial processes in Peru. These processes aim to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in 2019, which invalidated Macusani’s title to 32 of the concessions due to late annual validity payments.
In November 2019, Macusani sought injunctive relief for these 32 concessions in a Lima court and successfully obtained an injunction for 17 of them. This injunction restored the title, rights, and validity of these 17 concessions to Macusani until a final decision is reached.
A similar application was made for the remaining 15 concessions and was granted in March 2021, restoring their title, rights, and validity to Macusani. As a result, all 32 concessions are now protected until a final decision is made.
However, the favorable judge’s ruling confirming title to all 32 concessions from November 3, 2021, is currently under appeal by MINEM and INGEMMET. American Lithium cannot guarantee a favorable outcome from these appeals.
Company Website: https://www.americanlithiumcorp.com
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