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Lepidico - Financial Report for the half year ended 31 December 2020

Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce the release of its reviewed consolidated financial statements for the half year ended 31 December 2020.

Highlights for the period:

• Integrated Phase 1 Project construction permits granted for Karibib Lithium Mine and Abu Dhabi Chemical Plant.
• Environmental and Social Impact Assessments completed to Equator Principles and IFC environmental and social standards for the Namibian Phase 1 Project and the Abu Dhabi Chemical Plant operations to support debt financing.
• Engineering, Procurement and Construction Management contractor tender process completed mid-January 2021. 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.
• 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.
• Considerable capital cost savings, lithium recovery improvements and lower CO2 emissions identified when LOH-Max® is used for spodumene conversion versus conventional processing.

For more information, download the attached PDF.

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