Sayona Mining Ltd: Quarterly Activities Report
30.07.2021 | ABN Newswire
Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:DMNXF) has further advanced its lithium expansion in Quebec, Canada and gold exploration in Western Australia, as highlighted by its Activities Report for the June quarter 2021.Quarter Highlights
Quebec, Canada
- Sayona Quebec's acquisition of North American Lithium (NAL) approved by Superior Court of Quebec
- Flagship Authier Lithium Project to be integrated with NAL facilities to create world-scale Abitibi lithium hub, facilitating downstream processing
- New drilling campaign underway at Authier project, with goal of expanding resource and enhancing profitability
- Expansion of Sayona's Tansim Lithium Project in Quebec following acquisition of 75 additional claims
- Completion of Piedmont investment in Sayona Quebec
Western Australia
- Earn-in agreement with Altura Mining to progress exploration of Pilbara lithium projects
- Sayona to invest A$2M in gold exploration in search for Hemi-style gold mineralisation; magnetic drill targets identified.
Post-quarter
- Testing shows Authier spodumene capable of being processed into high purity 99.99% lithium hydroxide
- A$50m raising to fund NAL acquisition and advance Abitibi lithium Hub
- Share Purchase Plan opens for registered shareholders, seeking up to A$5m
NAL Acquisition
In a major milestone for the Company, court approval was granted for the joint bid for NAL by subsidiary Sayona Quebec Inc. and Piedmont Lithium Inc. (Piedmont) (refer ASX announcement 30 June 2021).
The bid was undertaken jointly with leading US based lithium corporation, Piedmont. Sayona announced a strategic partnership with Piedmont in January this year to expedite the Company's growth plans in Quebec and to enhance access to the US markets and investors (refer ASX announcement 11 January 2021). The final leg of this partnership arrangement was completed in June following the execution of the necessary agreements regarding Piedmont's investment in Sayona Quebec Inc. (refer ASX announcement 8 June 2021)
The integration of NAL with Sayona's flagship Authier Lithium project will transform both operations and create a world-scale Abitibi lithium hub. It will also advance plans for downstream processing in Quebec, aking advantage of its environmental and economic advantages including low cost, renewable hydropower, an established mining services industry and proximity to the North American battery market.
The acquisition of NAL will be achieved through a reverse vesting order type transaction structure, which will entail the implementation of a pre-closing reorganisation of NAL.
To view the full quarterly report, please visit: https://abnnewswire.net/lnk/6WY4543Z
About Sayona Mining Ltd:
Sayona Mining Ltd. (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
