Lepidico - Enter the US government
On 28 October, Lepidico (LPD) announced that it had signed a formal mandate with the US International Development Finance Corporation (DFC) to undertake an in-depth analysis and evaluation of the Karibib Phase 1 (L Max/LOH-Max) project for the purpose of determining whether it qualifies for DFC debt-based financing. This entry of a US federal government institution into the development of Lepidico’s Phase 1 project is consistent with the former’s attempt to secure the future supply of up to 35 metals and minerals deemed ‘critical’ for the ongoing health of the US economy – four of which can be produced by Lepidico. In addition to the credibility that the DFC lends Karibib, for the company, its involvement holds out the possibility of a higher (and more efficient) proportion of debt funding and a lower average interest rate.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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