Lycopodium to complete EPCM for the Integrated Phase 1 Project Development & Additional Capital Raised

  • Key commercial terms agreed with Lycopodium, a highly experienced global engineering and project delivery organisation, to complete the EPCM for the Phase 1 Integrated Project in Namibia and UAE
  • Work planned to commence mid-May 2021, subject to finalisation of jurisdiction specific contracts
  • $2.9 million secured through set-off of Collateral Shares under the existing Controlled Placement Agreement
  • Project remains on track for commencement of mine and concentrator commissioning in late 2022, and chemical plant commissioning in the first half of 2023

Click here to read the full ASX Announcement

About Lepidico Ltd (ASX: LPD)

Lepidico Ltd is an ASX-listed Company focused on exploration, development and production of lithium chemicals. Lepidico owns the technology to a metallurgical process that has successfully produced lithium carbonate from non-conventional sources, specifically lithiumrich mica minerals including lepidolite and zinnwaldite.

The L-Max® Process has the potential to complement the lithium market by adding low-cost lithium carbonate supply from alternative sources. More recently Lepidico has added LOH-Max® to its technology base, which produces lithium hydroxide from lithium sulphate without by-product sodium sulphate. The Company has completed a Definitive Feasibility Study for a nominal 5,000 tonne per annum Lithium Carbonate Equivalent (LCE) capacity Phase 1 lithium chemical plant, targeting commercial production for 2023.

The Project incorporate the Company’s proprietary L-Max® and LOH-Max® technologies into the chemical conversion plant design. Feed to the Phase 1 Plant is planned to be sourced from the Karibib Project in Namibia, 80% owned by Lepidico where a predominantly Measured and Indicated Mineral Resource of 11.24 Mt grading 0.43% Li2O, (including Measured Resources of 2.20 Mt @ 0.57% Li2O, Indicated Resources of 6.66 Mt @ 0.38% Li2O and Inferred Resources of 2.37 Mt @ 0.43%, at a 0.15% Li2O cutoff) is estimated. (ASX announcement of 30 January 2020). Ore Reserves total 6.72 Mt @ 0.46% Li2O, 2.26% rubidium, 2.02% potassium and 320ppm caesium (ASX announcement of 28 May 2020).

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