ENERGY MINERALS

Lepidico firms up Namibia lithium resources

Slight increase in tailings estimate

 Karibib, Namibia

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 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 company at $114 million. 

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