Lepidico - Developing to the (L-)Max
On 28 May, Lepidico (LPD) announced the results of its Association of the Advancement of Cost Engineering (AACE) class three (definitive) feasibility study (DFS) on its integrated Karibib mining/chemical plant project to produce 4,900tpa of battery grade lithium hydroxide (monohydrate) plus high value, Group 1 metal by-products over 14 years. At a lithium hydroxide price of US$13,669/t (cf US$10,350–11,200/t currently), the DFS calculated a project NPV8 of US$221m, or A$340m (A$0.066/share) and an IRR of 31% after initial capex of US$139m (including a 13.6% contingency). C1 cash costs were estimated to a ±15% level of accuracy at US$1,656/t lithium carbonate equivalent (LCE) and all-in sustaining costs at US$3,221/t LCE – putting it near the bottom of the known LiOH cost curve. A comprehensive review of the DFS is now planned, which will be reported on in due course.Lepidico is engaged in mineral exploration and the development and licensing of L-Max® technology. Co.'s lithium portfolio of exploration and commercial ventures include the Lemare project in Canada; the Euriowie project near Broken Hill in New South Wales, Australia; Third Element Metals Pty Ltd, a joint venture in Brazil; a joint venture in Argentina; and L-Max® licence arrangements with Lithium Australia Ltd. and European Metals Holdings Limited. Co. also retains its interest in the East Pilbara Polymetallic project, which is located in the East Pilbara region of Western Australia. The L-Max® process allows the extraction and recovery of lithium from lithium bearing micas.
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