Lepidico - Everything moving all at once
Since our last note on the company, Lepidico has successfully completed extensive further pilot plant trials at larger scale, raised over A$19m in equity, updated and improved the economics of its Phase 1 Plant project and updated and upgraded its mineral resources (and reserves) at Helikon 4 and on surface (in the form of dumps etc) at both Rubicon and Helikon. This note updates our valuation of the company for all of these developments plus new lithium price assumptions (below).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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