Lepidico

Given there is doubt as to whether lithium’s structural supply deficit can be solved this decade, or even next, Lepidico’s purpose is to help sustainably fuel growth in lithium-ion battery production and deliver other critical metals. All whilst having a positive net impact on society and the environment.Our mission is to build significant scale and deliver enhanced returns via our own projects and the licensing of <a target="_self" rel="noopener noreferrer nofollow" href="https://www.lepidico.com/technology">our technologies</a>. And to continue to increase our positive net impacts.

We are a vertically-integrated lithium and other critical metals developer with a patented set of clean technologies.

Fast-track the business to free cash flow generation by delivering the integrated Phase 1 Project.

Objective 1

Demonstrate the commercial application of its proprietary L-Max®  and LOH-Max® technologies.

Objective 2

Become a sustainable, globally significant alkali metals chemical producer with industry-leading ESG credentials and technologies. 

Objective 3

Key objectives

Where do we fit in to the lithium market?Ore from the brownfield open-pit Karibib mines in Namibia is processed using conventional flotation technology. The lepidolite-rich concentrate is transported to the UAE for conversion using our patented technologies. The lithium hydroxide is then be shipped to customers under a binding offtake agreement with Traxys.

From mine to market

Vertical integration means that Phase 1 will reap the full value chain benefits – from ore mining to fine chemical manufacture – via our proprietary hydrometallurgical technologies that include <a target="_self" rel="noopener noreferrer nofollow" href="https://www.lepidico.com/technology#l-max">L-Max®</a> and <a target="_self" rel="noopener noreferrer nofollow" href="https://www.lepidico.com/technology#loh-max">LOH-Max®</a>.Lepidolite concentrate will be produced and shipped from Namibia to a chemical conversion plant at the KEZAD industrial park in the United Arab Emirates. The conversion plant has a concentrate capacity of 6.9 tph (tonnes per hour), capable of producing up to 5,600 tpa. Phase 1 output is estimated at between 4,000 t and 5,000 t pa of nominal battery grade lithium hydroxide monohydrate, along with a suite of high-value and bulk by-products, and no solid process waste, making Phase 1 a highly sustainable operation.

Our Phase 1 Project

KEZAD chemical plant schematic looking north based on latest FEED data<img src="https://cdn.lepidico.com/production/KEZAD_chemical_plant_6af9c4f7b1.jpg" alt="KEZAD chemical plant.jpg">

<ul><li>Brown field re-development of Rubicon &amp; Helikon mines; Ore Reserve 8.3Mt @ 0.40% Li2O, 279ppm Cs, 2.05% K and 0.21% Rb</li><li>Ore will be transported to run-of mine crusher stockpiles, with various grades of ore requiring individual stockpiles. The rehandling of ore from stockpiles is required to balance the feed grade to the concentrator. A fleet of one 50-tonne excavator and four 35 tonne trucks can adequately support the mining schedule for the first half of the mine life.</li><li>Fully permitted: Granted 68 km2 Mining Licence </li></ul>

<ul><li>Construction of 60,000 tpa concentrator</li><li>Access to excellent existing regional infrastructure; 27 km power line spur required</li><li>Water rights in place to support 2x expansion</li><li>Large ground position prospective for lithium, caesium &amp; gold</li><li>Mine closure plan will allow these previously abandoned mine sites to be rehabilitated and returned to agricultural use</li><li>The lithium principally occurs in lepidolite, amblygonite and lithium muscovite although zinnwaldite can also be recovered through the froth flotation process. The overall recovery of lithium to the lithium concentrate is 75-88%, at a concentrate grade of 2.5%-3.9% Li2O. These values vary according to the mineralogy.</li><li>The mineral concentrator will use conventional crushing, grinding, desliming and froth flotation processes followed by dewatering of concentrate and tailings streams. </li></ul>

Operations in Namibia

<ul><li>Located in Khalifa Economic Free Trade Zone, Abu Dhabi (KEZAD) - no corporate tax and duties; 100% foreign ownership allowed</li><li>25-year land lease agreement signed 2021</li><li>Abu Dhabi ESIA complete and environmental permit to construct in place</li><li>Exceptional existing shared infrastructure through "plug and play" approach</li><li>Stable and affordable energy, and other bulk consumables locally available</li><li>Commercial green H2 and ammonia supply being fast-tracked for c.2026 </li></ul>

Operations  in UAE

We are already planning a 2-4x scale-up for a Phase 2 project, with concentrate supply from our own assets as well as third-party mines.Karibib Mineral Resources located within the awarded Mining License area total 11.9 M tonnes grading 0.45% Li2O.Excellent established infrastructure and water permit in place for 2x expansion.Capital efficient Karibib concentrator expansion leverages Phase 1 investment.Globally, 20 lithium mica &amp; phosphate deposits successfully tested for L-Max® amenability.Royalty revenues from licensing of our proprietary tech to partners. One of these deals has already been completed.<img src="https://cdn.lepidico.com/production/20220927_Karibib_Project_geology_and_prospects_7f7c92a5ca.jpg" alt="20220927.Karibib Project geology and prospects.jpg">

Beyond Phase 1

Meet the team

The Directors monitor the business affairs of the Company on behalf of Shareholders and have formally adopted a corporate governance plan which is designed to promote accountability, risk management and ethical conduct.The Board is responsible for the overall corporate governance of the Company, and it recognises the need for the highest standards of behaviour and accountability. The Board has developed and will continue to develop strategies for the Company, review strategic objectives, and monitor the performance against those objectives.

Responsibilites and functions

The Board has adopted a corporate governance plan which incorporates policies and charters consistent, where considered appropriate having regard to the Company’s current size and structure, with the ASX Corporate Governance Council’s “Corporate Governance Principles and Recommendations” (Recommendations). Such Policies include, but are not limited to, the:<ul><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2017_02_21_Board_Charter_a6bf1b5793.pdf">Board Charter</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2017_02_21_Diversity_9abea8284d.pdf">Diversity policy</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2017_02_21_Nomination_and_Remuneration_11b0b4ad0f.pdf">Nomination and Remuneration Committee Charter</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2016_11_25_Corporate_Code_of_Conduct_356b5f90ad.pdf">Corporate Code of Conduct</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2017_02_21_Disclosure_Continuous_Disclosure_8f136bd614.pdf">Disclosure- Continuous Disclosure</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2017_02_21_Audit_and_Risk_Committee_Charter_a289b1d1c9.pdf">Audit and Risk Committee Charter</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2018_07_19_Sustainability_ba12919a75.pdf">Sustainability Policy and Risk</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2018_07_19_Occupational_Health_and_Safety_40376251dc.pdf">Occupational Health and Safety</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2020_02_21_Anti_Bribery_and_Anti_Corruption_Policy_372d984209.pdf">Anti-Bribery and Anti-Corruption Policy</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2019_12_17_Whistleblower_Protection_Policy_a77ff3f21a.pdf">Whistleblower Protection Policy &amp; Procedure</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2017_02_21_Disclosure_Performance_Evaluation_96acb29c1f.pdf">Disclosure - Performance Evaluation</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2022_09_22_Climate_Change_Policy_aaad3aa3d9.pdf">Climate Change Policy</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2022_09_22_Human_Rights_Policy_40f2a187d6.pdf">Human Rights Policy</a></li><li><a target="_self" rel="noopener noreferrer nofollow" href="https://cdn.lepidico.com/production/2022_09_22_People_Policy_2218ee4f50.pdf">People Policy</a> </li></ul>In accordance with the Listing Rules the Company has established Guidelines for Buying and Selling Securities.The Board also recognises its duty to ensure that its Shareholders and other stakeholders are informed of all major developments affecting the Company’s state of affairs.As the Company’s activities develop in size, nature and scope, the implementation of additional corporate governance structures will be given further consideration