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Australia’s Sayona, Piedmont shut takeover of North American Lithium

CryptoGuru by CryptoGuru
August 30, 2021
Australia’s Sayona, Piedmont shut takeover of North American Lithium
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Sayona Quebec added the North American Lithium challenge to its holdings close to Val d’Or. Credit score: Sayona Mining.

Posted By: Mining.com Staff
August 30, 2021

Sayona Quebec, a three way partnership of Sayona Mining (ASX: SYA) and Piedmont Lithium (NASDAQ: PLL; ASX: PLL), has accomplished the acquisition of North American Lithium. Sayona Quebec is be owned 75% by Sayona and 25% by Piedmont. As a part of the deal, Piedmont has agreed to take 50% of Sayona Quebec’s lithium carbonate output.

North American Lithium’s chief asset was its suspended open pit mine about 60 km north of Val d’Or, Que. The mine and mill at La Corne, Que., operated solely briefly till the then-owner sought creditor safety 2019. It has annual capability of 23,000 tonnes lithium carbonate. Sayona plans to restart the plant.

Sayona says the acquisition is a part of the expansion technique by making a lithium hub within the Abitibi area. It already owns the Authier and Tansim lithium deposits. The corporate goals to renew lithium manufacturing for the North American battery market.

A optimistic feasibility research has been accomplished for Authier, which is maybe 50 km west of North American’s former mine. Sayona provides the challenge a internet current worth with an 8% low cost of US$216 million and a pre-tax inside fee of return of 33.9%. Common annual output could be 114,116 tonnes of 6% lithium carbonate over a mine lifetime of 13.8 years. The preliminary capital prices could be US$120 million, and the challenge would pay for itself in 2.7 years.

The Authier deposit has confirmed and possible reserves of 12.1 million tonnes grading 1% lithium oxide. The reserves are included within the measured and indicated useful resource of 17.2 million tonnes grading 1.01% lithium oxide, plus an inferred useful resource of three.8 million tonnes grading 0.98% lithium oxide.

The Tansim challenge is 80 km southwest of the Authier challenge. The early stage challenge doesn’t but have a useful resource estimate.





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