Name of the Project
Phase 1 L-Max project.

Location
The L-Max plant is planned to be located in Kenora, Ontario, Canada.

Client
Lepidico.

Project Description
A prefeasibility study has confirmed the viability of building a strategically located Phase 1 L-Max plant, which will process lithium-mica concentrates bought from third-party suppliers.

L-Max process technology extracts lithium from lithium-bearing micas to produce a lithium carbonate product.

The proposed Phase 1 demonstration plant will have a throughput rate of 29 000 t/y of lithium-mica concentrate.

The Phase 1 plant is expected to produce between 2 000 t/y and 4 000 t/y of battery-grade lithium carbonate. The L-Max process also has the potential to produce several by-products alongside lithium carbonate, including sulphate of potash, caesium, tantalum concentrate and sodium silicate.

The plant will have a throughput rate of about 3.6 t/h and 29 000 t/y of lithium-mica concentrate.

The construction of a commercially viable demonstration plant before a full-scale commercial operation is a critical step in reducing project risk and optimising the process.

The proposed Phase 2 plant will have a proposed capacity of 15 000 t/y to 25 000 t/y of lithium carbonate.

Jobs to be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The project is expected to cost about $41.1-million.

Duration
Project implementation is expected to start in early 2018, with first production expected in 2019.

Latest Developments
The Lepidico board has approved the start of a definitive feasibility study (DFS) on the project once funding has been secured.

The DFS is expected to be completed within nine months of starting the full work programme and cost an estimated $5-million, including owners’ costs.

Lepidico has been formulating plans to undertake a pro rata nonrenounceable rights issue of fully paid ordinary shares in the capital of the company to advance the DFS.

The rights issue will not be underwritten and the offer will, therefore, only be available to shareholders on the register only as at the record date. The company aims to raise between $3-million and $8-million, which will be used to start the DFS activities for the Phase 1 L-Max plant.

Proceeds from the proposed issue will also be used for exploration activities and general working capital.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Lepidico, tel + 61 8 9363 7800 or email info@lepidico.com.