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Lepidico - Quarterly Activities Report and Cashflow Statement


Key Points

Development

• Preliminary Environmental Review completed for the Abu Dhabi Chemical Plant and submitted to the regulatory Authority. This paves the way for the final construction permits required for Project implementation to start in Abu Dhabi.
• Environmental and Social Impact Assessment also completed for the Abu Dhabi Chemical Plant to Equator Principles and IFC environmental and social standards for debt financiers.
• Engineering, Procurement and Construction Management contractor tender process completed mid-January. Contractor selection well advanced and ahead of schedule.
• Offer for supply of 4.5MVa power at 66kV to the Karibib Project accepted, conditional on a commitment to develop. Power line Environmental Impact Assessment completed and Environmental Compliance Certificate stamped.
• Testwork supports 86% lithium recovery to concentrate from former Rubicon tailings, allowing this Indicated Mineral Resource material to be brought into the Phase 1 mine plan.
• Inferred Mineral Resource estimate (JORC Code (2012)) for surface stockpiles at Karibib close to completion.
• Testwork shows that zinnwaldite/polylithionite mineralisation from St Austell, England is amenable to processing by L-Max® and LOH-Max®, producing high purity lithium hydroxide. This is the nineteenth lithium mica or phosphate deposit successfully evaluated using Lepidico’s process technologies. 

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