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Strategic Metallurgy Growth to Support Lepidico


• Strategic Metallurgy has raised A$1.29 million to expand its business operations and retire debt from a recent building purchase
• Part of Lepidico’s pilot plant operations will shortly move into this recently acquired facility, which is proximal to the existing laboratory-office complex
• The enlarged facilities will ultimately allow L-Max® and LOH Max® pilot operations to be conducted in parallel to support envisaged assessment by licensees
• Strategic Metallurgy now holds 311.3 million Lepidico shares, which it has advised is, “a strategic long-term investment in Lepidico that it plans to retain for capital growth and in the fullness of time income.” 

Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) has been advised by Strategic Metallurgy (“SM”) that SM has recently secured A$1.29 million (gross) through the on-market sale of 35 million Lepidico shares in order to fund its growth plans. Strategic Metallurgy, remains Lepidico’s largest shareholder and now holds 311.3 million shares (5.0% of issued capital), in what it has advised is, “a strategic long-term investment in Lepidico that it plans to retain for capital growth and in the fullness of time income.”

Mark Urbani, Director at Strategic Metallurgy said, “Cash proceeds will immediately be used to reduce debt following the acquisition of a building adjacent to the SM Perth office and laboratory, which is already being used for certain pilot plant operations. The additional capital will also allow SM to further expand its operations through business improvements and further investments.”

Lepidico’s Managing Director, Joe Walsh said, “The SM business expansion plan will support ongoing work for Lepidico and ultimately allow many testwork operations to be conducted concurrently. Close collaboration will continue for the advancement of Lepidico’s proprietary process technologies, which include L Max® and LOH-Max®. This multi-faceted work involves: ongoing pilot plant operations; design work for the Phase 1 development and Phase 2 studies; technical evaluation under third-party technology licenses; and assessment of new technologies to expand Lepidico’s industry leading intellectual property base for maximising value from processing lithium mica and phosphate minerals. Work is also ongoing to commercialise LOH-Max® for the chemical conversion of spodumene, which has extensive industry application given the unprecedented demand growth predicted for battery materials and lithium in particular.”

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