lpd share price, page-13317

https://www.edisongroup.com/publication/big-swings-and-small-roundabouts/30529/
Valuation: Up 16% to 7.37–8.41cps including Phase 2

Both Lepidico’s Karibib mine in Namibia and its chemical plant in Abu Dhabi are now fully permitted to construct. Having raised initial equity, it is now committing to Phase 1 development activities to keep the project on a fast track, in parallel with its ongoing funding workstreams (now that binding lithium offtake has been secured) and continual improvements in environmental and social performance. In our last note on the company (Binding offtake signed with Traxys, published on 17 December 2021), we valued Lepidico at 5.70c/share and this has now risen by 16.5% to 6.64c plus a potential risk-adjusted 0.73–1.77 cents (fully diluted) for a conceptual 20,000tpa LCE Phase 2 plant to take the total aggregate conceptual valuation to 7.37–8.41 cents per share. Note that this valuation still does not attribute any value to Lepidico from either the supply of concentrate from third-party sources or any other development options (eg third-party technology licensing).