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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$60.4m
Last closeA$0.02
High / Low (52 weeks)A$0.1 / A$0.0
Stock market listingAU
Forecast net cash (A$m)21.2
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(5.3)(48.6)(40)
Relative *(1.4)(46.5)(40.9)

* % 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

Lepidico Limited Announces Maiden Mineral Resource Estimate for Alvarrões ...

Wed, 06 Dec 2017 23:03:45 GMT

The Lepidico Ltd share price is up 42% today

Tue, 14 Nov 2017 04:44:27 GMT

Lithium Australia share price moves on Lepidico settlement

Thu, 02 Mar 2017 15:08:35 GMT

Investors Are Turning Their Attention Towards Lepidico Ltd (LPD.AX): Shares ...

Tue, 15 May 2018 01:18:45 GMT

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2017A 0.1 (0.8) (5.4) 0.0 N/A N/A
2018A 0.2 (5.1) (7.2) 0.0 N/A N/A
2019E 0.0 (1.0) (3.7) 0.0 N/A N/A
2020E 16.7 2.2 (4.3) 0.0 N/A 123.1

Last updated on 09/10/2018

Latest research

Piloting its way through

Outlook | Mining | 09/10/2018

Forges Galaxy relationship

Update | Mining | 13/10/2017

Alvarrões continues to deliver

Update | Mining | 04/10/2017

Drilling tees up Q3/Q4 mineral resource estimates

Update | Mining | 11/09/2017

Masterful metallurgy

Initiation | Mining | 04/07/2017

Investment summary

Although an abundant lithium-bearing mineral, lepidolite has hitherto been overlooked as there has been no commercial process by which to process it economically (unlike spodumene). Central to Lepidico is its disruptive (patent pending) L-Max metallurgical technology that recovers lithium from micas (eg lepidolite), and therefore holds out the prospect of creating a new source of lithium supply. Lepidico has completed mini-plant trials on its L-Max process at a processing rate of 1kg/hour and a pre-feasibility study (PFS) on the development of a 3.6t/hour Phase 1 demonstration plant. It is developing a 15kg/hour pilot plant in part to mitigate scale-up risk, while simultaneously completing a full FS on a 7t/hour plant ahead of a final investment decision in mid-2019.

Last updated on 09/10/2018

Industry outlook

Lepidico’s focus is now the development of the Phase 1 L-Max plant in Sudbury as well as the completion of a scoping study on an industrial-scale operation. At steady-state, we estimate the Phase 1 plant is capable of generating A$28.1m pa, which we value at A$66.6m after capex. 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 28/09/2018

Key management

Joe Walsh, CEO
Shontel Norgate, CFO

Company address

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