Millennial Lithium Corp. Granted Final REMSA License at its Pastos Grandes Project, Salta, Argentina

The Mining Court of Salta has granted Millennial's Argentine subsidiary, Proyecto Pastos Grandes S.A., the remaining mining license, Nueva Sijesyta 01, that comprised the original REMSA Properties. The REMSA Properties are comprised of 5 mining licenses totaling 6557 ha which are contiguous with Millennial's core licenses covering the Salar de Pastos Grandes.

Argentine private sector awaits agreement to refinance $2.5 billion

The Argentine private sector is waiting for an agreement with bondholders to move forward with the resolution of its commitments. Large local companies record maturities of $2.5 billion in 2021, mostly in the first half of the year. If Argentina does not come out of default, no company will be able to refinance. Companies and provinces with secure credit will have access to the financial market in better conditions if there is debt settlement.

The debt negotiation between Argentina and the bondholders set for three dollars.

Argentina was planted at $50 per $100, implying a 25% net increase in the original offer (from $40 to $50 per sovereign title per $100). Creditors are demanding that the proposal raises to $53 per 100. The IMF, a key player in the negotiation, will not allow a new red line. It is $50 NPV, and the bondholders have two options: accept the proposal or accelerate the default.