Hi nats
Commitments and farm in agreement plans on LPD's joint Projects were announced last year and this current announcement you refer to is part of the process.
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Q. “Over the last quarter Lepidico entered into a number of agreements with other companies. How do these relate to the Phase 1 Plant Feasibility Study? How are you prioritising these?”
A. Securing feed for the Phase 1 Plant is a fundamental requirement and a top priority for Lepidico. Significant advances were made in the March 2017 quarter in achieving this. Lepidico now has exposure to three quality lithium-mica deposits, all of which are planned to commence drilling during the current (June 2017) quarter. The priority is to work on all three in parallel, while our search for further high quality lithium-mica and lithium-phosphate deposits continues. Subject to receiving the requisite permits, all three deposits are ready to drill. Lepidico is funding exploration at both Alvarroes and PEG9, and Avalon Advanced Materials Inc., the owner of Separation Rapids, is funding the evaluation of that deposit. Lepidico also plans to drill the Lemare spodumene deposit in Quebec this quarter, now that the initial phase of the farm-in agreement has been extended to 31 August 2017.
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We are currently awaiting drilling results and details of their work process on Pioneer's PEG9 farm-in, in the order of things.
Fairly soon we expect. DYOR
