Lycopodium enters engineering services deal with Lepidico

Australian-listed lithium explorer Lepidico has chosen Lycopodium Minerals to provide engineering services for its Phase 1 L-Max plant feasibility study.

Lepidico owns the technology to a metallurgical process that has produced battery grade lithium carbonate from non-conventional sources, particularly lithium-rich mica minerals such as lepidolite and zinnwaldite.

According to the company, the L-Max process has the potential to disrupt the lithium market by providing additional lithium from such sources.

The study aims to identify the economic and technical viability of a small commercial scale L-Max plant – to be built in Ontario, Canada – that will treat lithium mica concentrate feeds from a variety of resources.

The final processing design data is set to be completed by the end of December 2017.

Lycopodium chose to receive payment for the engineering services in Lepidico shares, and under the agreement, Lepidico allotted and issued 45,000,000 new fully paid ordinary shares to the company.

Lepidico managing director Joe Walsh said, “Lycopodium is well placed to provide the high quality, fit for purpose engineering services the company requires to complete the feasibility study within the prescribed budget.”

“Lepidico looks forward to a mutually rewarding long-term relationship with Lycopodium.”

Following the feasibility study, Lepidico is planning full production for 2019.

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