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Lepidico (LPD)

Business description

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

Stock data

Market cap.A$50.3m
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(11.8)(21.1)(69.4)
Relative *(10.4)(13.3)(67.5)

* % 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

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 102.6

Last updated on 23/11/2018

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

Lepidico's L-Max® technology recovers lithium from less contested minerals including lepidolite (a form of mica) and amblygonite. The process has been shown to work in stable and continuous operation in large-scale lab tests and a 2017 PFS estimated C1 cash costs of lithium carbonate production near zero net of by-products for a 3,000tpa operation. Engineered design for a larger 7tph (or 5,000tpa LCE) plant is on schedule for completion in December 2018 as part of a feasibility study, at the same time that a pilot plant is being constructed to reduce scale-up risk and for product development purposes.

Last updated on 29/11/2018

Industry outlook

Our valuation of Lepidico is substantially based on the unit operating costs of the 3.6t/hour plant and an updated estimate of capex for a 7tph plant. On this basis, we estimate future free cash flow to Lepidico of A$52.0m pa at steady-state, valuing its shares at A$0.0398 apiece after dilution (excluding any potential value for a Phase 2 plant or other development options).

Last updated on 29/11/2018

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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