1,200 TONNES SALEABLE LITHIUM CONCENTRATE PRODUCED AT NAL
Highlights
• First saleable (commercial grade) spodumene (lithium) concentrate produced at North American Lithium (NAL) operation in Québec, Canada
• Approximately 1,200 tonnes produced including SC6 (6% lithium grade), demonstrating ability to produce commercial concentrate in new milestone for NAL restart
• Sayona on track to become North America’s leading hard rock lithium producer, contributing to Québec’s electrification drive amid continuing battery/EV investment surge.
Emerging lithium producer Sayona Mining Limited (ASX:SYA; OTCQB:SYAXF) has achieved a new milestone with the successful production of the first saleable spodumene (lithium) concentrate at its flagship North American Lithium (NAL) operation in Québec, Canada.
Commissioning activities continue to progress, with approximately 1,200 tonnes of lithium concentrate produced, including SC6 (6% lithium grade). This demonstrates Sayona’s ability to produce a commercial concentrate, following the recent successful production of the first lithium concentrate (refer ASX release 8 March 2023).
NAL’s restart continues to proceed on schedule and within budget, with the first lithium shipment expected to occur in July 2023. Sayona is targeting total production between 85,000 tonnes and 115,000t during the first half of fiscal 2024 (refer ASX release 17 February 2023).
Engineering is now progressing on the next sub‐project, the Crushed Ore Storage Dome, with close expediting of engineering deliverables implemented. Sayona’s Managing Director, Brett Lynch said the production of NAL’s first saleable concentrate was a major milestone for the operation’s restart, reflecting the improvements made to enhance production.
Canada’s role in the EV revolution is accelerating, with Europe’s largest automaker, Volkswagen, recently announcing plans to build an EV manufacturing facility in Ontario.
The NAL operation will represent the most significant source of hard rock lithium production in North America, boosting Québec’s plans for the development of a local battery sector, from mining to manufacturing
About Sayona Mining
Sayona Mining Limited is an emerging lithium producer (ASX:SYA; OTCQB:SYAXF), with projects in Québec,Canada and Western Australia.
In Québec, Sayona’s assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (Nasdaq:PLL; ASX:PLL). The Company also holds a 60% stake in the Moblan Lithium project in northern Québec. In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium. Sayona is exploring for Hemi‐style gold targets in the world‐class Pilbara region, while its lithium projects are subject to a joint venture with Morella Corporation (ASX:1MC)
Source: The Company, OxBridge Research, Daily Stock Deals, PennyStockIQ
From The Editor of Daily Stock Deals:
A Significant Lithium Company we brought to you earlier CRE, CRECF worth a look!
For timely, actionable and potentially profitable news and uncensored views:> sign up for FREE in 15 seconds
Keep an eye on this space for major announcements!
Reminder: Free Membership enables immediate access to @TOP10STOCKS a great way to start your trading day.
You may also like these stories:
