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Central to Lepidico is its disruptive (patent-pending) L-Max® (hereafter 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. Despite being an abundant lithium-bearing mineral, lepidolite has hitherto been overlooked as there has been no commercial process by which to process it economically. This report necessarily values Lepidico on the basis of the pre-feasibility study (PFS) performed on a proposed Phase 1 L-Max plant at Kenora, Canada. Beyond that however, there are a number of development options including 1) scaling up the process to full industrial scale (Phase 2); 2) securing lepidolite resources cheaply and developing them into multiple dedicated mines; and 3) developing relationships with third-party mining companies to provide further feed sources to its plant(s).

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