Lepidico

Company overview

We are a vertically-integrated lithium developer with a patented set of clean technologies that also produce other critical metals from mica minerals.

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, 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 our technologies. And to continue to increase our positive net impacts.

Lepidico's core values are:

A hand holding a scale

Description automatically generatedWe operate with Integrity - we are accountable and own the responsibility to do the right thing always. 

A purple handshake with white lines

Description automatically generatedWe Collaborate - through leadership and teamwork we forge partnerships for a greater good. 

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Description automatically generatedWe are Resilient - we are determined to thrive and deliver the best results.

Key objectives

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    Objective 1

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

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    Objective 2

    Demonstrate the commercial application of our proprietary L‑Max® and LOH‑Max® technologies.

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    Objective 3

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

From mine to market

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 shipped to customers under a binding offtake agreement with Traxys.

Our Phase 1 Project

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 L‑Max® and LOH‑Max®.

Lepidolite concentrate will be produced and shipped from Namibia to a chemical conversion plant at the KEZAD industrial park in Abu Dhabi. The conversion plant has a concentrate capacity of 6.9 tph (tonnes per hour), capable of producing up to 5,700 tpa of lithium hydroxide. Phase 1 output is estimated at between 4,000 t and 5,000 t pa of nominal battery grade lithium product, along with a suite of high-value and bulk by-products, with no solid process waste, making Phase 1 a highly sustainable operation.

Company overview Karibib Concentrator CAD.jpg

KEZAD chemical plant schematic looking north based on latest FEED data

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Development timeline

2017

Pre-feasibility study completed
Feasibility study initiated

2019

Namibia assets captured

2020

Definitive feasibility captured
Karibib fully permitted

2021

EPCM works start
 

2021

Lithium offtake with Traxys

2022

Limited stage 2
EPCM works started
 

2022

Final FEED complete

2023

Finance complete
Construction starts

2024

Mining starts

2025

Concentrate commissioning & production
Chemical plant commissioning & production

Timo Ipangelwa – General Manager Operations, Namibia

Operations in Namibia

  • Brown field re-development of Rubicon & Helikon mines; Ore Reserve 9.4Mt @ 0.43% Li2O, 278ppm Cs, 2.00% K and 0.21% Rb.
  • 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.
  • Fully permitted: Granted 68 km2 Mining Licence.
  • Construction of 60,000 tpa concentrator.
  • Access to excellent existing regional infrastructure; 27 km power line spur required.
  • Water rights in place to support 2x expansion.
  • Large ground position prospective for lithium, caesium & gold.
  • Mine closure plan will allow these previously abandoned mine sites to be rehabilitated and returned to agricultural use.
  • 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.
  • The mineral concentrator will use conventional crushing, grinding, desliming and froth flotation processes followed by dewatering of concentrate and tailings streams, to maximise water recycling.
Hans Daniels – General Manager operations, UAE

Operations in UAE

  • Located in Khalifa Economic Free Trade Zone, Abu Dhabi (KEZAD) - no corporate tax and duties; 100% foreign ownership allowed.
  • 25-year land lease agreement signed 2021
  • Abu Dhabi ESIA complete; Environmental Permit to Construct and Detailed Planning Approval in place.
  • Exceptional existing shared infrastructure through "plug and play" approach.
  • Stable and affordable energy, with other bulk consumables contracted or locally available.
  • Commercial green H2 and ammonia supply being fast-tracked for c.2026.

Beyond Phase 1

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 & phosphate deposits have been successfully tested for LMax® amenability.

Royalty revenues from licensing of our proprietary tech to partners. One of these deals has already been completed.

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Meet the team

Board of Directors

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Mr Julian “Joe” Walsh

Managing Director (Executive)

Appointed: 22 September 2016

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Mr Mark Rodda

Director (Non-executive)

Appointed: 24 August 2016

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Mr Gary Johnson

Chairman (Non-executive)

Appointed: 9 June 2016

Lepidico team headshot Cynthia Thomas.jpg

Ms Cynthia Thomas

Director (Non-executive)

Appointed: 10 January 2018

Lepidico team headshot Joe Walsh.jpg

Mr Julian “Joe” Walsh

Managing Director (Executive)

Appointed: 22 September 2016

Lepidico team headshot Mark Rodda.jpg

Mr Mark Rodda

Director (Non-executive)

Appointed: 24 August 2016

Lepidico team headshot Gary Johnson.jpg

Mr Gary Johnson

Chairman (Non-executive)

Appointed: 9 June 2016

Lepidico team headshot Cynthia Thomas.jpg

Ms Cynthia Thomas

Director (Non-executive)

Appointed: 10 January 2018

Lepidico team headshot Joe Walsh.jpg

Mr Julian “Joe” Walsh

Managing Director (Executive)

Appointed: 22 September 2016

Lepidico team headshot Mark Rodda.jpg

Mr Mark Rodda

Director (Non-executive)

Appointed: 24 August 2016

Lepidico team headshot Gary Johnson.jpg

Mr Gary Johnson

Chairman (Non-executive)

Appointed: 9 June 2016

Lepidico team headshot Cynthia Thomas.jpg

Ms Cynthia Thomas

Director (Non-executive)

Appointed: 10 January 2018

Executives & Key Management

Lepidico team headshot Tom Dukovcic.jpg

Mr Tom Dukovcic

General Manager – Geology

Appointed: 22 April 1999

Lepidico team headshot Shontel Norgate.jpg

Ms Shontel Norgate

Chief Financial Officer, Joint Company Secretary

Appointed: 14 November 2016

Lepidico team headshots Alex Neuling.jpg

Mr Alex Neuling

Joint Company Secretary

Appointed: 30 September 2016

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Ms Benedicta Dreyer

General Manager Sustainability & Country Affairs Namibia

Appointed: 20 April 2022

Lepidico team headshot Timo Ipangelwa.jpg

Mr Timo Ipangelwa

General Manager Operations Namibia

Appointed: 1 August 2022

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Mr David Hall

General Manager Marketing and Investor Relations

Appointed: 1 August 2022

Lepidico team headshot Tom Dukovcic.jpg

Mr Tom Dukovcic

General Manager – Geology

Appointed: 22 April 1999

Lepidico team headshot Shontel Norgate.jpg

Ms Shontel Norgate

Chief Financial Officer, Joint Company Secretary

Appointed: 14 November 2016

Lepidico team headshots Alex Neuling.jpg

Mr Alex Neuling

Joint Company Secretary

Appointed: 30 September 2016

B.Uris pic 4.jpg

Ms Benedicta Dreyer

General Manager Sustainability & Country Affairs Namibia

Appointed: 20 April 2022

Lepidico team headshot Timo Ipangelwa.jpg

Mr Timo Ipangelwa

General Manager Operations Namibia

Appointed: 1 August 2022

Lepidico management ÔÇô 02.jpg

Mr David Hall

General Manager Marketing and Investor Relations

Appointed: 1 August 2022

Lepidico team headshot Tom Dukovcic.jpg

Mr Tom Dukovcic

General Manager – Geology

Appointed: 22 April 1999

Lepidico team headshot Shontel Norgate.jpg

Ms Shontel Norgate

Chief Financial Officer, Joint Company Secretary

Appointed: 14 November 2016

Lepidico team headshots Alex Neuling.jpg

Mr Alex Neuling

Joint Company Secretary

Appointed: 30 September 2016

B.Uris pic 4.jpg

Ms Benedicta Dreyer

General Manager Sustainability & Country Affairs Namibia

Appointed: 20 April 2022

Lepidico team headshot Timo Ipangelwa.jpg

Mr Timo Ipangelwa

General Manager Operations Namibia

Appointed: 1 August 2022

Lepidico management ÔÇô 02.jpg

Mr David Hall

General Manager Marketing and Investor Relations

Appointed: 1 August 2022

Corporate Governance

Responsibilites and functions

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 regularly reviews strategic objectives, risks and opportunities, and monitors performance against those objectives.

Current policies and charters

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). Policies include, but are not limited to, the:

Lepidico wants to make sure it is always conducting its businesses in a legal, ethical and sustainable manner. We want people who are concerned about improper conduct to feel comfortable reporting that conduct.

Speak Up

Any stakeholder can make a disclosure in any of the following ways:

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  • Via the Speeki app which can be downloaded from the Apple store or Google Play for use on an iPhone or Android Phones (search for “Lepidico” in the app)
  • Speak with an officer, director, the company secretary or a member of the executive team at Lepidico
  • You must act honestly and reasonably in making the disclosure, with a genuine belief that the improper conduct has occurred.

 

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.

Lepidico Timeline

2013

Technology concept formulated within Strategic Metallurgy; IP spun off into Lepidico; Initial seed capital raised; First testwork successful: leach & impurity removal.

2014

Round two of seed capital; LMax® process development begins; Provisional patent application made in Australia.

2015

Round three of seed capital; First semi-continuous trials; LMax® international patent filed.

2016

ASX listing via reverse takeover; Executive management appointed; Pre-Feasibility Study begins; LMax® amenability trials on third party deposits.

2017

Second mini-plant trial undertaken; Pre-Feasibility Study completed; Hostile takeover defended; Phase 1 Feasibility Study initiated; Toronto office opened; National phase of LMax® patents.

2018

By-product processes developed; Provisional patents lodged in Australia; Pilot Plant designed; construction starts.

2019

LOHMax® process developed; Provisional patent lodged in Australia; Pilot plant delivered on schedule and within budget; L-Max® viability confirmed via pilot; U.S. patent for LMax® received; Abu Dhabi selected for chemical conversion plant.

2020

LMax® patents granted in Australia, Japan and Europe; Inaugural Ore Reserve report reveals Lepidico is the owner-operator of the only undeveloped Cs and Rb Reserve globally; Namibian permits received; LOHMax® enters international patent phase; First technology license sold.

2021

Environmental permit for Abu Dhabi granted; Independent greenhouse gas assessment confirms low emissions intensity; Phase 1 concentrator & chemical plant EPCM works start.

2022

Binding lithium offtake agreement with Traxys; Demonstration scale pilot trials complete; Phase 1 concentrator & chemical FEED complete; Executive team expanded for Phase 1 implementation.

2023

Targets: Full Phase 1 funding secured; Phase 1 life extended to +20 years; Final approvals to construct Abu Dhabi granted.

2024

Targets: Mining at Karibib begins; Phase 2 Pre-Feasibility Study.

2025

Targets: Concentrate production starts; Phase 1 Chemical Plant commissioning; Phase 2 Feasibility Study.