- 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
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).