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Lepidico Ltd.
Summary
| Project: | Phase 1 L-Max | |
|---|---|---|
| Deposit: | Phase 1 L-Max | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 5/28/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Definition | |
| Report details: | 28-5-2020: Lepidico Ltd. announces a Feasibility Study report for its Phase 1 L-Max deposit at the Phase 1 L-Max project. Feasibility Study results incl. NPV (8%) of US$221M and IRR of 31%. Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to an | |
| Resources: | x | |
| CP/QP: | [Reserve] n/a (n/a) | |
| ABSTRACT: | Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce that it has received the results of the vertically integrated Phase 1 Project Feasibility Study. The Study is based on a modest scale commercial L-Max® plant processing a lithium-mica concentrate feed at a rate of 6.9 tonnes per hour (tph) to produce approximately 4,900tpa of nominal battery grade lithium hydroxide monohydrate and a suite of high vale and bulk by-products, over 14 years. Converting other products to lithium carbonate equivalent gives implied total production of over 7,000tpa LCE. The relatively modest size of Phase 1 for a lithium chemical project is important as project development and operating risks tend to increase exponentially with scale. The Feasibility Study is based on an integrated mine, concentrator and chemical plant development that collectively has compelling investment fundamentals, including an NPV8% of US$221 million (A$340 million) and an Internal Rate of Return of 31% ungeared. Ore Reserves at Karibib, Namibia total 6.7 million tonnes grading 0.46% Li2O, 2.26% rubidium and 320ppm caesium, a 60% conversion from Mineral Resources of 11.24 million tonnes, which highlights the potential for further Ore Reserve expansion. Karibib is understood to be the only JORC Code (2012) (or NI43-101) compliant Ore Reserve estimate for both rubidium and caesium globally and therefore represents a unique opportunity for the production of these strategic metals, of which, the United States is totally reliant on imports. Furthermore, lithium, caesium, rubidium and potash, the main Phase 1 Project products, are all on the U.S. Government list of 35 Critical Minerals, making the Project strategically significant. | |
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