Announcement Date: 2022-05-23
Announcement Type: Pre-Feasibility Study
Announcement Code: JORC
Company name: Sayona Mining Ltd.
Project name: North American Lithium
Location: Canada
Commodities: Lithium
Highlight: PFS results incl. post-tax NPV (8%) of A$844M & IRR of 139%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Emerging lithium producer Sayona Mining Limited (ASX:SYA; OTCQB:SYAXF) announced today a positive pre‐feasibility study (PFS) for its flagship North American Lithium (NAL) Project in Québec, Canada, confirming the NAL operation’s technical and financial viability. The PFS was conducted by Sayona Mining’s Canadian subsidiary, Sayona Québec, which is owned by Sayona Mining (ASX:SYA, 75%) and Piedmont Lithium (ASX:PLL, 25%). Forming the key part of Sayona’s Abitibi lithium hub comprising NAL and the nearby Authier Lithium Project, the restored NAL operation and the Authier deposit, together with the Company’s emerging northern Québec hub, comprise North America’s largest lithium (spodumene) resource base. This will allow Sayona to launch production ahead of other North American projects, generating sustainable cash flows and putting the Company on a fast track to go downstream into value‐added lithium hydroxide or carbonate production. Québec is rapidly emerging as a leader in the battery sector, benefitting from its clean and sustainable hydropower, world‐class infrastructure and proximity to market.
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