Well said
@Fabled, too often some posters (with very little research, if any) are writing as you say
complete "dribble" at present. No facts or any reasoned argument for their bland SIX worded assertions/remarks.
I can understand their disappointment, however, it would be more meaningful if they set out some reasoning for what they say. Obviously, they have paper losses -in this they will be in the company of many. Have they been long-term holders, most of whom in this category seem to understand the strategy of the company and where it wants to be in the market. The objective, firstly is to get Phase 1 Plant built and operating, correspondingly have the feedstock material (Karibib, Namibia) and the input chemicals and other resources to process the output lithium hydroxide (LiHO).
Secondly, whilst getting the first part setup, management is required to develop their market connections. When it was a sellers market in 2016/17 it was thought that the earlier pilot tests would be sufficient to induce the buyers to take-up offtakes of LCE.
However, events overtook Lepidico and it became a buyers market, lithium prices fell sharply for technical grade lithium which in turn badly affected the battery (chemical) grade material. Consequently, it became apparent to management from discussions with buyers that the latter required to see a scale model of Phase 1 Plant built (the Pilot Plant).
As we now know, this was a successful outcome and the results outstanding. Not only great grades for LiOH, there were very good results for all the byproducts.
All the Patent applications are being successfully processed. Anybody who doubts this I suggest they look-up
@maxi1981, he's a whiz at finding materials and grasping their meaning.
April 2020
The Pilot plant has:
i)Demonstrated L-Max ® technical viability using small scale industrial equipment, similar to that employed in the Phase 1 Plant design;
ii)Expenditure eligible for R&D tax refund (43%);
iii)Produced 99.95% Li 2CO 3 and >99.5% LiOH.H 2O with very low impurities;
iv)Produced high purity potassium sulphate (SOP) of more than 96% K 2SO4, equivalent to 52.2% K 2O;
v)Production of caesium-rubidium formate; SG > 2.2, good clarity and low levels of deleterious elements;
vi)Produced amorphous silica P100 25μm, complies with standards for fly-ash (and fumed silica – TBD);
vii)Reduced scale-up at nominal throughput of 6.9tph for Phase 1 Plantto 460 times; and provided data for optimisation of Phase 1 Plant operating parameters.
The plant was reto-fitted and run to test its functionality to produce LiHO, again it surpassed expectations. Sample are and have been sent out to interested parties from the pilot plant run -these organizations have requested that in doing their 'due diligence' studies that all remain in total 'confidentiality'.
Finally, we have now run into another obstacle, covid19. Surly the doubters do have an understanding of that, due mainly one doesn't need to go too far back in months to grasp the consequence. Ensuing from this a change in location due to Gulf Fluor not being prepared to expand production at ICAD, resulting in LPD having to build an acid plant at its new proposed site at KIZAD (KIZAD is a subsidiary of Abu Dhabi Ports). A benefit from this is that it is closer to sourcing our feedstock from the neighbouring seaport.
Now in respect of lithium prices, except for the most efficient producers, (
Jiangxi Ganfeng Lithium Co. Ltd appears to be well positioned for the turnaround) the cost of producing both LCE and LiOH and turning a profit must be starting to squeeze some producers margins to the extent that their less efficient ore resources are no-longer economical and under threat of closure. This would be to Lepidico's benefit since we are pretty low on the production cost curve.
There is much, a lot of it covered by other knowledgeable members, and too some who don't share our view they too deserve there right.
However, whatever your view try to expand tour argument, least be informative.
Regards
naughtpatjoe
(20min delay)