Lepidico - Fine tuning the mine and chemical plant
Lepidico’s announcement that it has raised capital and awarded the EPCM contract for its Phase 1 Plant project to Lycopodium follows on the heels of an offtake agreement with China’s BJR and comes barely a month after it announced an expansion of its resource base in Namibia. Relative to existing hard rock resources, the resource expansion quantified high grade surface material contained in tailings, stockpiles and dumps both at Rubicon and Helikon that could potentially support operations at Karibib for an additional two years. Just a year after completing its DFS, Lepidico has now transitioned its Phase 1 Plant project into development by effectively completing permitting and approvals processes at the same time as negotiating a first offtake agreement and raising initial equity to allow it to commit to early engineering works. Concurrently, it is advancing negotiations with the US government DFC (which is now conducting confirmatory due diligence) for the provision of project debt.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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