Lepidico Ltd. announced that it has received the results of the vertically integrated Phase 1 Project Feasibility Study. The Study is based on a modest scale commercial L-Max plant processing a lithium-mica concentrate feed at a rate of 6.9 tonnes per hour (tph) to produce approximately 4,900tpa of nominal battery grade lithium hydroxide monohydrate and a suite of high vale and bulk by-products, over 14 years. Converting other products to lithium carbonate equivalent gives implied total production of over 7,000tpa LCE. The relatively modest size of Phase 1 for a lithium chemical project is important as project development and operating risks tend to increase exponentially with scale. The Feasibility Study is based on an integrated mine, concentrator and chemical plant development that collectively has compelling investment fundamentals, including an NPV8% of $221 million (AUD 340 million) and an Internal Rate of Return of 31% ungeared. Ore Reserves at Karibib, Namibia total 6.7 million tonnes grading 0.46% Li2O, 2.26% rubidium and 320ppm caesium, a 60% conversion from Mineral Resources of 11.24 million tonnes, which highlights the potential for further Ore Reserve expansion. Karibib is understood to be the only JORC Code (2012) (or NI43-101) compliant Ore Reserve estimate for both rubidium and caesium globally and therefore represents a unique opportunity for the production of these strategic metals, of which, the United States is totally reliant on imports. Furthermore, lithium, caesium, rubidium and potash, the main Phase 1 Project products, are all on the U.S. Government list of 35 Critical Minerals, making the Project strategically significant. Karibib is fully permitted for the re-development of two open pit mines feeding lithium mica ore to a central mineral concentrator that employs conventional flotation technology. The waste to ore ratio at Karibib is just 0.5 to 1 for the first two years and 3.8 to 1 life of mine. This brownfield development has a modest footprint that maximises the use of ground used by the historical operations. An Environment and Social Impact Assessment is being undertaken to IFC Standards and is on schedule for completion in July 2020. Concentrate is shipped to a chemical conversion plant to be built in the Khalifa Industrial Zone Abu Dhabi (KIZAD) that employs Lepidico's proprietary process technologies. Main products of lithium hydroxide monohydrate, caesium formate and rubidium sulphate are augmented by bulk by-products of SOP fertiliser and amorphous silica, with the latter used as a partial supplement for cement which attracts a significant carbon credit. Industry competitive operating costs after credits from by-products include an average C1 cost of $1,656/t (LCE) and an AISC of $3,221/t for the integrated Project.