James Bay, page-30

GXY can build a converter that processes spodumene like the one it sold previously except that it can port loh-max as its final hydroxide recovery process instead of the standard industry equipment. Loh-Max is touted to save chemical producers significant capex and Opex. Surface calcs for Lmax/loh-max process seem to suggest it is 80% cheaper than nemaska’s Capex, and on top of that Opex savings is significant too. Lmax uses lepidolite as feedstock. Loh-max is where GXY could make big savings in processing spodumene and as stated by LPD, the tech works for spodumene. 80% is an awful lot of money. It’s almost unbelievable. But that’s the claim: LPD can build a phase 1 plant producing 5,000 tonnes p.a. of hydroxide with just US$35m Capex. Phase 2 will have economies of scale and as big as 25,000 tonnes which will likely cost $150m. In contrast Nemaska is spending a crippling $1.3 billion plus for a 36,000 tonne cap.