sayona mining

Sayona Mining Ltd Sayona Quebec Inc Release Regarding NAL Bid

Brisbane, Australia (ABN Newswire) – Emerging lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:DMNXF) attaches the following statement from the Company’s wholly owned subsidiary, Sayona Quebec, regarding the joint bid with Piedmont Lithium Limited for North American Lithium (Sayona 75%; Piedmont 25%) (refer ASX release 27 May 2021).

SAYONA QUEBEC’S OFFER FOR NORTH AMERICAN LITHIUM TAKES A STEP FORWARD

The mining company takes an important step towards the acquisition of North American Lithium in order to restart lithium production

May 27, 2021 – It is with great pride that Sayona Mining Limited announces today that its Sayona Quebec subsidiary, owned with Piedmont Lithium inc. (Sayona at 75% and Piedmont at 25%) is taking another step towards acquiring the facilities of North American Lithium Inc. (NAL) in La Corne in Abitibi-Temiscamingue.

Following an agreement with Investissement Quebec, one of the secured creditors, and subject to the conclusion of definitive agreements, Sayona Quebec’s proposal to acquire lithium production operations at the NAL site will be presented to the Superior Court of Quebec for approval.

The offer from Sayona Quebec, a company based in La Motte, in Abitibi-Temiscamingue, would allow for the development of a lithium hub in the region.

If the Court approves its offer and the other conditions at the closing of the transaction are completed (including the conclusion of definitive agreements, the approval of the shareholders of Sayona Mining and the obtaining of regulatory approvals), Sayona Quebec aims to resume production as soon as possible. The company is putting priority on environmental update of the facilities, technical improvements as well as the upgrading of certain equipment which was at a standstill.

The transaction that would lead to the acquisition of NAL by Sayona, if confirmed by the Superior Court, would be entirely carried out and completed thanks to the contribution of private capital.

Furthermore, if the transaction is approved by the Superior Court and the other closing conditions are met, Sayona Quebec and its partner, Piedmont Lithium, are committed to carry out secondary processing of lithium in Quebec within the next five years, in accordance with the conditions set out in the agreement with Investissement Quebec. The two partners are enthusiastic about Quebec’s attributes (clean electricity, skilled labor, etc.) and by the government’s desire to develop the electric battery industry.

Overall, Sayona Quebec is delighted with the government’s desire to develop the electric battery sector and intends to participate fully in it. The creation of a lithium hub in Abitibi-Temiscamingue would establish a solid foundation for the development of the entire Quebec lithium sector.

The planned acquisition of NAL would also generate quality jobs and provide local communities with direct benefits.

Quotes:

“The Sayona Quebec team is pleased with the positive development regarding NAL. Its potential acquisition, if approved by the Superior Court, would move the Abitibi-Temiscamingue region and Quebec to a first milestone in the international lithium market with Sayona.

“We would be very happy to build this project from an inspiring region, and even prouder to commit to the development of lithium transformation in Quebec. Our partner Piedmont Lithium and our entire team are strongly motivated by this challenge, which would allow Quebec and its citizens to benefit from this creation of additional wealth.”

– Guy Laliberte, CEO of Sayona Quebec

About Sayona Quebec

A subsidiary of Sayona Mining created in 2016, Sayona Quebec is a developing company active in the lithium sector, a key component in the manufacturing of lithium-ion batteries. The owner of a high-quality deposit, the Company intends to carry out the Authier project, in La Motte, to move from the exploration stage to that of exploitation and development, with the objective of carrying out further processing. The same is true of the Tansim project, which is under development on the Viau-Dallaire deposit, in Moffet.

www.sayonaquebec.com

About Sayona Mining Ltd:

Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.

Please visit us as at www.sayonamining.com.au

Source:
Sayona Mining Ltd

Contact:
Brett Lynch
Managing Director
Phone: +61 (7) 3369 7058
Email: info@sayonamining.com.au

News Provided by ABN Newswire via QuoteMedia

The Conversation (0)
Galan Lithium

HMW Project Update

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to provide a further update on the progress at its 100% owned Hombre Muerto West (HMW) Phase 1 lithium brine project. Lithium inventories continue to build in the HMW Phase 1 ponds, in line with Feasibility Study expectations, which will provide the feedstock for the HMW processing plant. Over the last month, Galan has re-worked its construction activities to preserve cash with a view to procuring both a definitive sales agreement and an associated funding package for the Project in the short term.

Keep reading...Show less
Premier1 Lithium

Strategic Project Review Commenced: Gold and Copper Potential

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to provide an update on the Company’s activities including a recently commenced strategic review of all exploration assets. The strategic review follows the recent refresh of the board and management including new Managing Director, Chair and Exploration Manager, as well as the relocation of all company functions to Perth.

Keep reading...Show less
Cleantech Lithium

Update on "Expressions of Interest" RFI Process

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, comments on the Chilean Government's announcement yesterday on the "Expressions of Interest" ("RFI"), which is part of the process towards award of a Special Lithium Operating Contract ("CEOL") required to develop lithium projects in the country. As previously announced on the 17th June 2024, the Company submitted RFIs for the advanced Laguna Verde and Viento Andino projects and three others in Joint Ventures ("JV") and, as per yesterday's update, now expects to hear back by the end of August 2024. CTL believes it is well positioned to meet the criteria set out by the Government as evidenced by CTL's advancement in Direct Lithium Extraction ("DLE") and the existing alliance with the local communities to co-develop the Company's lithium projects.

Keep reading...Show less
White Cliff Minerals

IOCG and Epithermal Mineralisation Discovered in Maiden Field Program at Great Bear Lake

Canadian Government grants received to further exploration

White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce that widespread, IOCG-U polymetallic, mineralisation has been visually observed1 during the first week of its maiden fieldwork program at its Great Bear Lake U-Cu-Au-Ag Project in northern Canada.

Keep reading...Show less
Jindalee Lithium

Entitlement Offer Prospectus

Jindalee Lithium Limited (ASX:JLL) (Jindalee, the Company) is pleased to share its Entitlement Offer Prospectus.
Keep reading...Show less
Lithium-ion batteries surrounding lithium's periodic table symbol.

5 Themes from Fastmarkets' 2024 Lithium Supply and Battery Raw Materials Event

Demand for lithium is expected to grow in the next 10 years as electric vehicle proliferation continues and the energy storage sector expands.

While experts are optimistic about the market’s medium- and long-term fundamentals, the current market oversupply and weak EV sales have weighed on prices over the last year.

Although prices have remained subdued through 2023 into 2024, investor interest in the battery metal market has grown, which was evident at Fastmarkets’ 2024 Lithium Supply and Battery Raw Materials conference.

The four-day event saw record attendance, with more than 1,100 attendants and 150 speakers gathering in Las Vegas to learn more about the trajectory of the lithium industry and other key battery raw materials.

Keep reading...Show less

Latest Press Releases

Related News

×