Morning FMGers, Was just wondering if someone could give me some...

Morning FMGers,

Was just wondering if someone could give me some insight in regards to the AFR article from a couple of days ago re - Lithium (see attached). With car manufacturers allocating serious cash to EV's, BHP advertising about copper and it's necessity in EV's it has become a political issue here with fed election looming. Now the article mentions FMG considering looking at lithium - nothing unexpected for a company of this magnitude to diversify further. However...what really caught my attention was the location they are looking - Portugal.

I'm aware SAV have operations there and a stock I hold does too (LPD - please don't see this as cross promotion, I'm more so fishing for information). Can anyone tell me if FMG are looking at acquiring a stake in an existing company or a T/O or are they just looking themselves? To my understanding Portugal lends itself to hard rock operations not brines like South America. In which case if FMG are looking at entering the lithium sphere I'd imagine it would be rock blasting for spodumene to be sold off and converted to lithium carbonate or hydroxide for use in battery cells.

But...LPD has an agreement with Grupo Mota in Portugal for their lepidolite which has lithium bearing micas. This is what (pardon the pun) twigged my interest here. LPD has patented proprietary techs that can extract battery grade lithium carbonate (LMax) and hydroxide (LOHMax) from these micas with a chemical process that is zero waste (i.e. without sodium sulphate) and comes with a suite of saleable byproducts (not trying to spruik too much, but it's impressive). They've just commenced commissioning their pilot plant in Perth with plans to upscale a plant in Canada in close proximity to nickel smelters for cheaper/easier access to sulphuric acid. This plant would require funding and although GXY have 12% of LPD and fair bit of cash in the bank, they have their own set of dramas atm. Just wondering if FMG has come across LPD? Are they looking to go drilling or have they found something already? If they came across lepidolite it could get them talking and in some sort of agreement, $$$ for lepidolite.


Any thoughts appreciated.