Australia's Lepidico sees worst session in 5 months on project update

Lepidico

11/11/2021 05:18

** Shares of minerals explorer Lepidico Ltd  LPD.AX  fall as
much as 17% to A$0.049, mark their biggest intraday pct loss
since May 20
    ** Lepidico says it continues to be in active discussions
with potential off-takers for lithium hydroxide production
planned from co's Phase 1 project over the first five years of
its operations
    ** Co says it has not entered into binding offtake
arrangements for Phase 1 project 
    ** Expects to sign term sheets by the end of calendar year
    ** More than 45 mln shares change hands, compared with the
30-day average of about 40 mln shares 
    ** Stock up 430% so far this year, as of last close 
    

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))