LPD 0.00% 0.2¢ lepidico ltd

Interesting ramble. ‘Talking about Namibia being mineral rich is...

  1. 3,947 Posts.
    lightbulb Created with Sketch. 1368
    Interesting ramble.

    ‘Talking about Namibia being mineral rich is making an exaggerated statement’
    https://theextractormagazine.com/20...eral-rich-is-making-an-exaggerated-statement/

    "...The deputy executive director also spoke about setting up processing plants.

    In his view, if there is enough water and energy, there are little ratios of discoveries to meet the economies of scale.

    “Just imagine at Uis. Uis, Omaruru there is a nice belt that goes to Otjimbingwe. It runs past Karibib. Can you imagine if every one of those little places had a plant?

    “You start building white elephants. Your mine life is maybe only three, five years. And you have made an investment of a couple of billions of dollars. What are you going to put in there?” he asked.

    He said these are some things to consider when discussing processing plants because the economies of scale are really crucial.
    Shivolo said Lepidico, outside of Karibib, has been there for a long time.

    “I think it operated initially, maybe in the 80s. In the 90s, it used to be operated by some South African cowboys.

    “They just ran away and left it unrehabilitated. We actually took over and we rehabilitated the area with funds from the ministry. There were a number of people who were just left destitute.

    “There was a gentleman in Germany that used to buy the lepidolite from there. So, I contacted him and said, you know, these guys who owned this mine, they ran away, if you ever need the lepidolite, there is some of the mine.
    “And these guys can actually collect some for you to buy. And for a while, the guy was sending a cheque. I would tell the people those workers who are left there to gather 5, 10 tons, 15, 20 tons,” Shivolo said.  

    He recalled driving a Land Rover from Windhoek carrying a bag of money on Saturdays or Sundays to go to Karibib.
    He also recalled meeting the small-scale miners who would have driven from the mine with a truck loaded with lepidolite.
    “I go there, these guys have gathered and had a truck there. The truck delivered to Karibib. I paid them. Then the guy from Germany comes, takes his stuff and goes,” Shivolo remembered.

    He highlighted some problems with lithium claims, saying it is difficult to quantify.
    Shivolo explained that one doesn’t do specific studies and reserve estimates with mining claims.

    “You follow a reef. And say well, it looks like there’s something here, let me just start picking up these species.

    “So, it’s difficult to quantify those numbers. Even only when they produce. But you must also understand that many of them would hardly even dig up an open pit the size of a room because of limitations.

    “Equipment to drill and blast and open that space up so that you can haul and go to crash. So what do they do? They can open up a reef about the side of this table. And they see that, okay, there’s nice stones here. “They use pick and shovels. And they take what they can take, the rest that is maybe on the sides or deeper. They leave it. So, that’s why small-scale mining is actually not ideal for minerals of this nature. It’s ideal for crystals, for semi-precious stones,” Shivolo said.

    He said if a small-scale miner can follow a reef and dig a hole, but if that small-scale miner has a mining claim for alluvial diamonds, would they get anything?

    “But if you look at Lepidico, they have done a fairly good feasibility study. They know the volumes and the traits..."
 
watchlist Created with Sketch. Add LPD (ASX) to my watchlist
(20min delay)
Last
0.2¢
Change
0.000(0.00%)
Mkt cap ! $17.17M
Open High Low Value Volume
0.2¢ 0.3¢ 0.2¢ $2.403K 1.129M

Buyers (Bids)

No. Vol. Price($)
167 197522279 0.2¢
 

Sellers (Offers)

Price($) Vol. No.
0.3¢ 101111213 62
View Market Depth
Last trade - 11.58am 28/06/2024 (20 minute delay) ?
LPD (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.