# Due Diligence Concluded / Commencement of Definitive Agreement Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/due-diligence-concluded-commencement-of-definitive-agreement--9ed3b6da-e04d-4107-80df-ba7f7102a3db Original source: https://money.tmx.com/en/quote/LIS/news/7724475010776279/due-diligence-concluded-commencement-of-definitive-agreement Publisher: tmx Original announcement: 2025-09-22T15:28:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Lithium South Development Corporation - Ticker: LIS - Exchange: TSX - Region: Argentina - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Resource update, Agreement transaction - Extracted: 2026-09-12 11:37:01 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Lithium South Development Corporation has announced that due diligence by POSCO Argentina SAU has been substantially completed regarding the sale of the Hombre Muerto North Lithium Project. The parties are now negotiating a Definitive Agreement to finalize the transaction. Reasoning: The company is advancing a major transaction \(sale of project to POSCO\) following the conclusion of due diligence, which is a significant corporate milestone. - Positive factor: Due diligence substantially completed for project sale - Positive factor: Moving to Definitive Agreement with POSCO - Positive factor: Project is adjacent to an operating POSCO lithium production site - Negative factor: Minor items still outstanding in due diligence Facts used in scoring: 2 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource is explicitly described as NI 43-101 compliant. Evidence · text > delineated a NI 43-101 compliant, 1,583,200 tonne Lithium Carbonate Equivalent \("LCE"\) Resource ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/due-diligence-concluded-commencement-of-definitive-agreement--9ed3b6da-e04d-4107-80df-ba7f7102a3db#fact-resource-facts-0) Hombre Muerto North Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Hombre Muerto North Lithium Project - Commodity: lithium - Region: argentina - Reported Region: Argentina - Ticker: LIS #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mark King, Peter Ehren - Resource group id: resource:bcdbf006a607285b74ad - Deposit or zone: Alba Sabrina, Natalia Maria, and Tramo claim blocks - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1463000 - Grade: 736 - Grade Unit: mg/L Li - Contained Metal: 1583200 - Contained Unit: tonne lce - Cutoff Grade: 500 - Cutoff Unit: mg/l Li #### Prior Estimate - Resource Date: 2023-09-05 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-05T00:00:00.000Z #### Dates - Event date: 2025-09-22T00:00:00.000Z Reasoning: This is a restatement of a previously reported resource from a 2023 technical report. - Positive factor: NI 43-101 compliant resource stated Evidence · text > 1,583,200 tonne Lithium Carbonate Equivalent \("LCE"\) Resource at an average grade of 736 milligrams per liter lithium \(mg/L Li \) , with 1,463,000 tonnes in the measured category #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.0 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/due-diligence-concluded-commencement-of-definitive-agreement--9ed3b6da-e04d-4107-80df-ba7f7102a3db#fact-resource-facts-1) Hombre Muerto North Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Hombre Muerto North Lithium Project - Commodity: lithium - Region: argentina - Reported Region: Argentina - Ticker: LIS #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mark King, Peter Ehren - Resource group id: resource:723b6f7d4efc05e86134 - Deposit or zone: Alba Sabrina, Natalia Maria, and Tramo claim blocks - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 120000 - Grade: 736 - Grade Unit: mg/L Li - Contained Metal: 1583200 - Contained Unit: tonne lce - Cutoff Grade: 500 - Cutoff Unit: mg/l Li #### Prior Estimate - Resource Date: 2023-09-05 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-05T00:00:00.000Z #### Dates - Event date: 2025-09-22T00:00:00.000Z Reasoning: Restatement of historical indicated resource. Evidence · text > 1,583,200 tonne Lithium Carbonate Equivalent \("LCE"\) Resource at an average grade of 736 milligrams per liter lithium \(mg/L Li \) , with ... 120,000 tonnes in the indicated category #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.0 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.