Lepidico firms up lithium resources

INTEGRATED lithium aspirant Lepidico has completed resource estimates for lepidolite-rich surface stockpiles and tailings from former operations in Namibia, increasing contained lithium by 10%.
Lepidico firms up lithium resources Lepidico firms up lithium resources Lepidico firms up lithium resources Lepidico firms up lithium resources Lepidico firms up lithium resources

Karibib, Namibia

"Inferred" resources of 570,000t grading 0.8% Li2O (plus caesium and rubidium) have been calculated, with a Rubicon tailings upgrade seeing "indicated" resources of 71,000t at 1% Li2O. 

Lepidico is looking at the redevelopment of two mines within its 80% owned Karibib Project in Namibia and the design of a new flotation plant to produce a lepidolite concentrate for export to a chemical conversion facility it wants to build in Abu Dhabi. 

Such a business could produce circa-5000tpa lithium hydroxide for 14 years, according to the the company. 

Lepidico has also said "strategic caesium and rubidium high value products" plus bulk by-products collectively give aggregate production on a total lithium equivalent basis of more than 7000tpa. 

Total pre-production capital has been put at US$139 million. 

Talks with potential backers, offtakers and relevant authourities are in train.  

Lepidico had cash at the start of the current quarter of A$3.1 million 

Shares in Lepidico were up 5% to 2.2c in morning trade, capitalising the compnay at $114 million.