- Lithium explorer Lepidico (LPD) has entered into a strategic collaboration with UK-based Cornish Lithium to commercialise their L-Max and LOH-Max technologies
- Lepidico will provide the technical support to fast track the development of the L-Max and LOH-Max pilot plant which will be used for processing lithium mineralisation from the St Austell granite complex in Cornwall
- The technologies convert lithium mica minerals into fine alkali metal chemicals, including nominal battery-grade lithium hydroxide, without the requirement for energy-intensive roasting and calcination
- Cornish Lithium has acquired the process technology licence, which includes the pilot plant design package and technical plant data, for C$4 million (roughly A$4.2 million)
- Lepidico shares have soared following the announcement, up 25 per cent and trading at one cent each
Lithium explorer Lepidico (LPD) has entered into a strategic collaboration with UK-based Cornish Lithium to commercialise their L-Max and LOH-Max technologies.
Lepidico will provide the technical support to fast track the development of the L-Max and LOH-Max pilot plant which will be used for processing lithium mineralisation from the St Austell granite complex in Cornwall.
Lepidico granted Cornish an exclusive technology licence covering approximately 93 square kilometres of the St Austell granite region.
The technologies include the L-Max and LOH-Max and caesiumrubidium manufacturing processes, which provide better environmental attributes versus conventional process technology, according to Lepidico.
The technologies convert lithium mica minerals into fine alkali metal chemicals, including nominal battery grade lithium hydroxide, without the requirement for energy intensive roasting and calcination.
Cornish Lithium acquired a process technology licence, which includes the pilot plant design package and technical plant data, for C$4 million (roughly A$4.2 million).
A 15 year royalty holiday, a concessionary royalty rate of 1.5 per cent of gross revenue from all chemical conversion plant products and geographic exclusivity over the St Austell granite are included as special terms in the licence.
Lepidico will also issue 100 million options to acquire fully paid ordinary shares with a two year expiry and a strike price of 16 cents to Cornish.
Shares in LPD have soared following the announcement, up 25 per cent and trading at one cent each at 12:06 pm AEDT.