Lepidico (LPD)

Business description

Lepidico provides exposure to a portfolio of lithium assets via its wholly owned properties, JVs and IP in Australia, Canada and Europe. Uniquely, it has successfully produced lithium carbonate from non-traditional hard rock lithium bearing minerals using its registered L-Max® process technology.

Stock data

Market cap.A$168.6m
Last closeA$0.06
High / Low (52 weeks)A$0.1 / A$0.0
Stock market listingAU
Forecast net cash (A$m)14
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual96.7412.6386.1
Relative *94.1394.7335.5

* % Relative to local index

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Company news

Why the Lepidico Ltd share price is up 173% in a month

Mon, 13 Nov 2017 01:35:18 GMT

The Lepidico Ltd share price is up 42% today

Tue, 14 Nov 2017 04:41:15 GMT

Lithium Australia share price moves on Lepidico settlement

Thu, 02 Mar 2017 15:08:35 GMT

LEPIDICO LTD (AUB) Jumped 21.05% on Nov 10

Fri, 10 Nov 2017 16:41:15 GMT

Testwork confirms potential to recover battery grade lithium carbonate product ...

Mon, 06 Feb 2017 12:56:15 GMT

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 0.1 (0.5) (2.3) 0.0 N/A N/A
2017A 0.1 (0.8) (5.4) 0.0 N/A N/A
2018E 0.0 (0.9) (3.4) 0.0 N/A N/A
2019E 0.0 (0.9) (5.4) 0.0 N/A N/A

Last updated on 16/10/2017

Latest research

Investment summary

Lepidico's disruptive (patent-pending) L-Max® metallurgical technology recovers lithium from overlooked and undervalued minerals such as lepidolite (a form of mica). The process uses readily available chemicals and large-scale tests have demonstrated stable and continuous operation. A recent PFS estimated C1 cash costs of lithium carbonate production at near zero net of by-products for a 3,000tpa operation (Phase 1).

Last updated on 02/11/2017

Industry outlook

Having completed the PFS, Lepidico’s strategic imperative is now the development of the Phase 1 plant as well as the completion of a feasibility study on an industrial-scale operation. In the meantime, exploration continues apace and it is in the process of raising A$7.0m via a strategic partnership with Galaxy. Based solely on the Phase 1 PFS, we estimate a value for Lepidico of A$0.0215/sh (fully diluted at A$0.015). However, conceptual estimates for a Phase 2 plant envisage producing c 7x as much lithium carbonate, for 3.4x as much capex to generate 8x as much NPV.

Last updated on 02/11/2017

Key management

Joe Walsh, MD
Shontel Norgate, CFO

Company address

Level 1, 254 Railway Pde
West Leederville
WA 6007
Australia
+61 (08) 9363 7800
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