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3 month-chart may give it a go at .28
0.2272 ? 0.0111 (5.14%)
Market is signaling confidence however.
yep NMKEF @.05 is in the cards IMO.EOM
Bad omen, even for those respected lithium producers!
"Sales of new energy vehicles — all-electric, fuel-celled autos and plugin hybrids — declined 16% from a year earlier to 85,000 units in August, the China Association of Automobile Manufacturers said Wednesday. That followed a 4.7% drop in July."
"China accounts for about half of the world’s electric-vehicle sales, so any weakness is likely to ripple beyond its shores. In July, global EV sales fell for the first time on record because of China, according to Sanford C. Bernstein."
“China is basically a healthy market, but because of the trade war, the car market is basically in a recession,” Volkswagen AG Chief Executive Officer Herbert Diess said in an interview with Bloomberg TV at the Frankfurt Auto Show this week. “So that’s a new situation. That’s scary for us.”
https://www.yahoo.com/finance/news/chinese-electric-car-sales-drop-063147184.html
Reverse split...Perhaps more crap bids and faulty assumptions!
It's a Canadian mining stock.
And Canadian regulation.
What could go wrong?
Reported cost numbers were wrong.
They were VERY wrong, with huge errors.
Yet management/Board remains.
Huge loses by investors.
A credibility crisis.
What are you expecting to happen? Market action looks more confident.
BEWARE... Likely more 'funny' business on the way!
Canada prefers 'Blind-Eye' approach to most market funny-business!
Someone should ask at the conference call if there is a
R/S coming. Now that the total share count is approaching 1,000,000,000!
Nemaska Lithium Releases Updated NI-43-101 Technical Report
Before-Tax Internal Rate of Return (IRR) at 30.3% and Net Present Value (NPV) @ 8% of CAD 3.1 B
After-Tax IRR at 27.4% and NPV @ 8% of CAD 2.3 B
CAPEX assessment for Whabouchi and Shawinigan confirms the Corporation’s February 2019 estimate
QUEBEC CITY, July 31, 2019 (GLOBE NEWSWIRE) -- Nemaska ??Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) releases the results of its updated National Instrument (NI) 43–101 Technical Report (the “Report”) on the Whabouchi mine (“Whabouchi”) and Shawinigan electrochemical plant (the “Plant”) (together, the “Project”). Nemaska Lithium’s management team retained the services of engineering firms to make this Report (as defined in NI 43–101), following the Corporation’s funding gap announcement of February 13, 2019.
“We are pleased to inform our shareholders that the Project’s economics remain very robust after a thorough review of the capital investment (‘CAPEX’) and overall operating costs (‘OPEX’) by the Qualified Persons (“QP”) working closely with our strengthened owner’s team, as reflected by the Report. It was produced using the most recent detailed engineering designs for both sites that provide significant insight into key operational estimates,” said Guy Bourassa, President and CEO of Nemaska Lithium. “Now that we have an updated timeline and budget, and that we have received and accepted a letter of intent from Pallinghurst for an equity investment of up to CAD 600 M, we are confident that we have in hand a solid plan for the future as well as a strong team in place to resume construction and successfully deliver the Project once the required financing is completed.”
Assuming a 100% Project equity financing, the Report shows a before-tax IRR % and NPV (@ 8% discount) of 30.3% and CAD 3.1 B, respectively and an after-tax IRR % and NPV (@ 8% discount) of 27.4% and CAD 2.3 B, respectively. These NPV and IRR calculations exclude sunk costs of ~CAD 340 M, as per NI 43–101 standards. It is assumed that the financing would be in place in order for construction to resume in November 2019, which would lead to a start of production in June 2020 for Whabouchi and in November 2021 for the Plant.
Updated Report at a Glance
Following an update of the geological model and detailed mine planning, the Report confirms a revised estimated annual production of approximately 205,000 tonnes of concentrate from Whabouchi and an annual production of approximately 37,000 tonnes of high-quality lithium hydroxide monohydrate at the Plant; assuming Nemaska Lithium will purchase lithium sulfate monohydrate (LSM) and/or concentrate when needed to achieve nameplate capacity.
The Corporation has made the decision to focus on lithium hydroxide production at its Plant; however, the Corporation will have the capacity in the future to add, as needed, the equipment required to also produce lithium carbonate should the market demand justify it.
The advancement of detailed engineering since June 2018 and the optimizations performed during the preparation of the Report have significantly de-risked the Project.
Including the costs related to the ramp-up and start-up of operations, the updated overall Project average OPEX are estimated to total CAD 5,223 (USD 4,018) per tonne of lithium hydroxide monohydrate (LiOH-H2O) produced from the Whabouchi concentrate. The OPEX per tonne of concentrate (6.25% Li2O) delivered at the Plant is estimated at CAD 452 (USD 347) on average during the life of mine (LOM). For the Plant, the overall estimated OPEX for the conversion of concentrate from the Whabouchi mine would be of CAD 2,513 (USD 1,933) per tonne of lithium hydroxide monohydrate (LiOH-H2O) on average over the life of the Project.
“We are proud of the efforts our renewed owner’s team has put forward over the past few months to strengthen control over engineering and construction activities. With the precious support of the whole organization, we will always be looking for ways to continuously improve our cost structure once we reach production level, thus strengthening Nemaska Lithium’s competitive position as a preferred low-cost producer of high-quality battery grade lithium hydroxide monohydrate” added Robert Beaulieu, Vice President, Operations and Construction. “The completion of this update provides us with the highest possible degree of visibility on key operational imperatives for the completion of construction, commissioning and ramp-up of our Project.”
All amounts are in Canadian dollars, except where otherwise indicated, and some amounts are also rounded for presentation.
2019 Technical Report
Total CAPEX 1
(CAD in M, including contingency)
Total
Incurred as at
May 31, 2019
Remaining
Whabouchi 1:
448
223
225
Plant 1:
821
117
704
Total:
1,269
340
929
Spodumene Concentrate Average OPEX per Tonne of 6.25%Li2O
(Transformation at Whabouchi + transportation to the Plant)
CAD 452 (USD 347)
Lithium Hydroxide Average OPEX per Tonne of LiOH-H2O
(Transformation at the Plant)
CAD 2,513 (USD 1,933)
Total OPEX per Tonne of LiOH-H2O
(Whabouchi + Plant)
CAD 5,223 (USD 4,018)
Before-Tax Net Present Value (NPV)2
@ 8% Discount Rate
CAD 3.1 B (base case)
@ 10% Discount Rate
CAD 2.3 B
Before-Tax Internal
Rate of Return (IRR) 2
30.3%
After-Tax NPV2
@ 8% Discount Rate
CAD 2.3 B (base case)
@ 10% Discount Rate
CAD 1.7 B
After-Tax (IRR) 2
27.4%
Average Selling Price Lithium Hydroxide per tonne over Life of Mine
USD 14,000 (CAD 18,200)
Open pit Mine Proven and Probable Reserves
27.9 M tonnes at 1.33% Li2O
Underground Mine Proven and Probable Reserves
8.7 M tonnes at 1.21% Li2O
Combined Open pit and Underground Proven and Probable Reserves
*The Updated NI 43–101 Technical Report confirms that more resources were identified below the mineral reserves level but are not considered Proven and Probable Reserves.
36.6 M tonnes at 1.30% Li2O
Life of Mine Production
6.6 M tonnes of spodumene concentrate to be converted into ˜1.1 M tonnes of battery-grade lithium hydroxide and 368 k tonnes of spodumene concentrate to be sold on the market.
Expected Mine Life
33 years
Life of Mine Revenue
CAD 20.25 B
Exchange rate used for CAD to USD
1.30 : 1.00
1The total CAPEX includes amounts for corporate owners’ costs, which are ˜CAD 42 M for Whabouchi and ˜CAD 29 M for the Plant.
2 The NPV and IRR exclude sunk costs of ~CAD 340 M from calculations. This is the NI 43–101 standard.
Qualified Persons
Met-Chem, a division of DRA Americas Inc. (“DRA/Met-Chem”) has provided engineering and integration services for all aspects of the Updated NI 43-101 Technical Report on the Whabouchi Lithium Mine and Shawinigan electrochemical plant with the participation of other companies. The Technical Report includes the Resource Estimation (by SGS Geostat “SGS”), Open Pit Mine Design and Mineral Reserve Estimation (by BBA Inc. “BBA”), Underground Mine Design (by DRA/Met-Chem), concentrator (by DRA/Met-Chem), Electrochemical plant (by Hatch and NORAM), infrastructure (by Hatch for Shawinigan and DRA/Met-Chem elsewhere), waste rock and tailings disposal and water management (by SNC-Lavalin “SNC”), capital and operating costs (by Hatch for Shawinigan and DRA/Met-Chem elsewhere), and economic analysis (by DRA/Met-Chem). The complete NI 43–101 Technical Report will be posted on www.sedar.com within 45 days, and will be available to consult on Nemaska Lithium’s website. The technical information in this press release has been reviewed and approved by the Qualified Persons as relevant to their areas of responsibility and expertise.
Conference Call
Nemaska Lithium will host a conference call on August 1, 2019 at 11:00 AM ET. The Corporation’s President and CEO, Mr. Guy Bourassa, Chief Financial Officer, Mr. Steve Nadeau and Vice-president Operations and Construction, Mr. Robert Beaulieu, will discuss the Updated NI 43-101 Technical Report. The call can be accessed at the following:
Online: https://edge.media-server.com/mmc/p/xcasimzn
Dial information:
US/CANADA Participant Toll-Free Dial-In Number: (866) 353-6129
US/CANADA Participant International Dial-In Number: +1 (409) 217-8084
Conference ID: 6868859
About Nemaska Lithium
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the Project’s updated timeline and budget, the CAD 375M funding gap and additional capital required to enable the Corporation to complete construction, the estimated additional costs for completing the construction of the Whabouchi mine and the Shawinigan plant, the Project’s anticipated robust economics, the expected unfolding of construction and commissioning as well as the anticipated start of production at the Whabouchi mine and Shawinigan plant sites, constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the obtaining of the additional capital required to fulfill the conditions precedent to receive the remaining proceeds from the Project financing being the second tranche payment under the Streaming facility and the Bonds offering proceeds.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the ability of the Corporation to secure additional funds, (ii) the eventual definitive agreements to implement Pallinghurst’s investment proposal, (iii) the Corporation having a solid plan for the future and a strong team to resume construction once financing is in place, (iv) the expected increased level of operational efficiency and de-risking of the Project, (v) the CAPEX and OPEX estimates, (vi) the construction resuming in November 2019 leading to a start of production in June 2020 for the mine and in November 2021 for the plant,, (vii) the focus on production of lithium hydroxide and the Corporation’s capacity to eventually add equipment to produce lithium carbonate, (viii) the Corporation’s expectations as regards the eventual strengthening of its competitive position as a low-cost producer of high-quality battery grade lithium hydroxide, (ix) the anticipated more efficient construction and ramp-up schedule (and schedule to reach commercial production), (x) the strengthened control over construction activities, (xi) the refining of the Corporation’s processes to eventually improve OPEX; (xii) the Corporation’s ability to bring the mine and the plant to commercial production, (xiii) the Corporation having the highest possible degree of visibility on key operational imperatives for the completion of construction, commissioning and ramp-up of our Project, and (ix) generally, the above “About Nemaska Lithium” paragraph which essentially describes the Corporation’s outlook. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Pallinghurst investment will close or that other funding / strategic alternatives can be available, that the Corporation will meet conditions under the streaming facility and the bonds and that the Whabouchi mine and/or the electrochemical plant in Shawinigan will be commissioned and will begin production, as future events could differ materially what is currently anticipated by the Corporation. In addition, there can be no assurances that the Project’s after-tax NPV or IRR will end up as set out in the Report; likewise, there are no assurances that the production, CAPEX or OPEX estimates outlined in the Report will prove accurate.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the “Risk Factors” section of the Corporation’s Annual Information Form dated October 10, 2018, and the “Risk Exposure and Management” section of the Corporation’s quarterly Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.nemaskalithium.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
Gabrielle Tellier
Media Relations
514 348-0466
gabrielle.tellier@nemaskalithium.com
http://finance.dailyherald.com/dailyherald/news/read?GUID=38643399
Rumor I have heard in past week that SEC and Canadian attorney general are investigating fraud and misappropriation of investor funds at NMKEF.......
Was told banks in Bermuda and Scotland are cooperating with investigation.
Anyone else know of this?
"lithium bears are in control", with 3.4 billion shares to digest .05 is probably the price NMKEF hits before .50 let alone 5.00
https://www.bloomberg.com/news/articles/2019-07-28/the-lithium-mine-buildup-is-outpacing-the-electric-car-boom
"The Lithium Mine Buildup Is Outracing the Electric-Car Boom"
By Laura Millan Lombrana and David Stringer
July 28, 2019
The trend for NMKEF is down,down,down with over 2 billion new shares to digest and a negative market mood towards lithium.
One more link.
https://seekingalpha.com/article/4278093-lithium-miners-news-month-july-2019
This stock is just now getting recognized by bigger news agencies. If your heavy sell don't wait for the short squeeze now's the time to reverse.
Dilution, you must be in a heavy sell position.
Look at the fundamentals of the company and the competition. Are you familiar at all with the Lithium mining industry, at all. If the mine goes through this stock easily will go to $5 to $10 dollars overnight.
https://www.cnbc.com/2019/07/26/electric-car-production-rises-supply-crunch-for-battery-metals-looms.html
https://www.mining-journal.com/leader-interviews/news/1368156/lithium-supply-short-of-capital-and-soon-maybe-time
I'm frankly surprised with this news it didn't jump back to $2. Dilution will only effect the stock briefly once the deal goes through then the stock will rebound and should start climbing higher as the company hits milestones.
Good Luck in trading.
3 bil shares @ .05 =$150 million market cap which is likely considering the current lithium market mood and low expectations for this team.We shall see...............
But extremely unlikely... Unless major moronic bungling emerges!
.05 is possible with the dilution.EOM
No worries...Thank God you've come to your senses!
Understanding you are vastly more intelligent than everyone, and your obvious distaste for this company...why are you still here?
Small "something" I am sure...the question is what though!?!?!
nice chatting, your insights and superior knowledge has increase my overall awareness...
News: $NMKEF Nemaska Lithium Announces CAD 600M Equity Investment Proposal from The Pallinghurst Group
Enters into a letter of intent for a CAD 200M private placement and a CAD 400M rights offering guaranteed by way of a stand-by commitment The private placement and rights offering both to be concluded at CAD 0.25 per share QUEBEC CITY, July 19, 2019 (GLOBE NEWSWIRE) -- N...
In case you are interested Nemaska Lithium Announces CAD 600M Equity Investment Proposal from The Pallinghurst Group
Your stupidity, your post...Your money!
this has nothing to do with Nemaska, they walked away from these liars...
Relax...Already(mostly) factored from 2-13-19 crash!
The dilution potential is horrifying.EOM
Nemaska Lithium Announces CAD 600M Equity Investment Proposal from The Pallinghurst Group
Home > Investors > Press releases > 2019 > Nemaska Lithium Announces CAD 600M Equity Investment Proposal from The Pallinghurst Group
19 July 2019
Enters into a letter of intent for a CAD 200M private placement and a CAD 400M rights offering guaranteed by way of a stand-by commitment
The private placement and rights offering both to be concluded at CAD 0.25 per share
QUEBEC CITY, July 19, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the "Corporation" or “Nemaska Lithium”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) is pleased to announce that it has received and accepted a letter of intent (“LOI”) from The Pallinghurst Group (“Pallinghurst”), a global metals and mining industry investor, for the financing of the Whabouchi project, comprised of a lithium mine located in the Eeyou Istchee James-Bay territory and an electrochemical plant in Shawinigan. Pallinghurst’s LOI contemplates a CAD 200M private placement at CAD 0.25 per share and a stand-by purchase agreement to fully guarantee the successful completion of a rights offering of up to CAD 400M at the same issue price.
Pallinghurst and the Corporation agreed to a 3-month exclusivity period to allow for, among other things, the finalization of definitive agreements and completion of Pallinghurst’s due diligence.
The BBA report’s conclusions disclosed on April 29, 2019 supported the Corporation’s February 13, 2019 Whabouchi project cost-to-complete internal estimate, pursuant to which additional net funds of approximately CAD 375M were then required. However, it is the Corporation’s and Pallinghurst’s desire to ensure that the Corporation will be fully financed, while benefiting from reasonable financial flexibility to ensure the project attains nameplate capacity at the Shawinigan electrochemical plant. As such, the ultimate size of the rights offering will be determined by the parties following completion of Pallinghurst’s due diligence review and prior to execution of the definitive agreements.
“I am very proud today to share with all Nemaska Lithium stakeholders, the positive outcome of months of thorough review of alternatives and of discussions with several interested parties. Pallinghurst is a renowned financier with a unique vision and a deep knowledge of the lithium and battery material sector, making it a prime partner with whom we can embark on the next phase of our development. With Pallinghurst and Investissement Québec’s loyal support, we are solidifying the Corporation’s longevity and therefore, increasing the inherent value of the project for our stakeholders,” said Guy Bourassa, President and CEO of Nemaska Lithium.
“It is a pleasure to announce Pallinghurst’s intention to become a key partner of Nemaska Lithium, a corporation that truly embodies the future of supplying premium quality lithium products to the rapidly growing battery industry. The Corporation’s sustainable approach to the mining of its world-class deposit combined with the use of innovative value-adding technology sets Nemaska Lithium apart. In our view, Nemaska Lithium’s lithium salt will rapidly become one of the most sought-after battery materials globally. The Nemaska Lithium investment is in line with Pallinghurst’s desire to focus exclusively on the supply of critical battery and fuel-cell related materials. In addition, we are delighted to further invest in the Province of Québec, one of the world’s most attractive mining jurisdictions,” said Arne H. Frandsen, Co-founder and Managing Partner of Pallinghurst.
“As a longstanding partner of the Corporation, we are pleased to support Nemaska Lithium. We welcome the arrival of Pallinghurst, a strategic partner, with whom we intend to continue to ensure the sustainability of the project. The Nemaska Lithium project is a great opportunity for growth for our electric vehicle sector, an industry that generates positive economic benefits for Québec,” said Guy LeBlanc, President and Chief Executive Officer, Investissement Québec.
Context of the Announcement
The Board of Directors of Nemaska Lithium has accepted the LOI based on a unanimous recommendation from a special committee of independent directors that was charged with reviewing all alternatives with the assistance of financial and legal advisors, as was announced by the Corporation on February 27, 2019. After having solicited and engaged into discussions with several parties and having considered available alternatives, the Board of Directors has determined that it is now in the best interests of Nemaska Lithium and its stakeholders to finalize negotiations on an exclusive basis with Pallinghurst with a view to completing the transaction.
In its recommendation, the special committee considered many factors, including the interests of the Corporation and its stakeholders, the economic and market environment in which Nemaska Lithium operates, the equity commitment size and the structure combining a private placement and a rights offering. This transaction will, allow existing Nemaska Lithium shareholders to participate. The special committee concluded that the overall terms of Pallinghurst’s LOI are reasonable and acceptable, notably the duration of the exclusivity period, the covenants of Pallinghurst and the contemplated terms of the definitive agreements.
Additional Terms of the Letter of Intent
The LOI provides that, in case of termination of the transaction, Pallinghurst will be entitled to receive either a payment of a CAD 12M fee or, at its sole discretion, warrants providing for the issuance of such number of shares that represents 19.99% of the shares outstanding of Nemaska Lithium as at the date of the execution of the LOI at a price of CAD 0.25 per share, for a period of 12 months following the grant of such warrants. Issuance of the warrants is subject to the approval of the Toronto Stock Exchange.
The definitive agreements will also contain numerous conditions and deal protection provisions, including non-solicitation covenants customary for this type of transaction, applicable regulatory approvals including, but not limited to, the approval of the Toronto Stock Exchange, and the approval of the shareholders of Nemaska Lithium. In addition, it remains subject to the amendment of certain terms of the current stream agreement and senior secured callable bonds.
It is anticipated that a special meeting of Nemaska Lithium shareholders to consider this transaction would be held in or before October 2019. Additional details regarding the timing of this transaction will be communicated over the coming weeks.
There is no assurance that definitive agreements will be reached in relation to any transaction following the exclusivity period and the ongoing discussions. No assurance may be given that a transaction will occur in relation to the proposed transaction or otherwise, or regarding the definitive terms of such transaction, if any.
Arrangement Pursuant to Section 192 of the Canada Business Corporations Act
In light of the complexity of the implementation of the investment proposal and the number of stakeholders involved, Nemaska Lithium sought a preliminary interim order pursuant to the Canada Business Corporations Act, a federal law in Canada under which a solvent corporation can efficiently implement such a complex transaction. The process itself is called an “arrangement”, a term widely construed, as it aims to encompass novel, complex and unique transactions in the best interest of all stakeholders.
Clarksons Platou Securities AS and National Bank Financial are acting as financial advisors to the Corporation.
Conference Call
Nemaska Lithium will host a conference call on July 19, 2019 at 2:30 PM EDT. The Corporation’s President and CEO, Mr. Guy Bourassa, and Co-founder and Managing Partner of Pallinghurst, Mr. Arne H. Frandsen, will discuss this morning’s announcement. The call can be accessed at the following:
Online
https://edge.media-server.com/mmc/p/uecet5m6
Dial information
US/CANADA Participant Toll-Free Dial-In Number: (866) 353-6129
US/CANADA Participant International Dial-In Number: +1 (409) 217-8084
Conference ID: 4898630
About Nemaska Lithium
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
About The Pallinghurst Group
The Pallinghurst Group is a London-based leading strategic investor in the global metals and mining sector with significant development, operational and financial expertise in mining. For the past 12 years, Pallinghurst has put US$2 billion of equity capital to work in a number of mining projects. As a hands-on investor, Pallinghurst seeks to act as a catalyst for developing and unlocking value for the benefit of all stakeholders. Pallinghurst’s investors consist of blue-chip family offices, sovereign wealth funds as well as specialized mining investors.
To learn more about Pallinghurst : www.pallinghurst.com
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to obtaining the additional capital required to enable the Corporation to complete construction, the ability to obtain amendments to, and thereafter meet funding and other conditions under, the streaming agreement and the senior secured bonds, constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the closing of Pallinghurst’s investment and rights offering (assuming shareholders’ approval), providing the Corporation with the additional capital required to (i) fulfill the conditions precedent to receive the remaining proceeds from the project financing (being the second tranche payment under the Streaming facility and the Bonds offering proceeds), (ii) resume and complete project construction and commissioning, and (iii) reach commercial production.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the ability of the Corporation to close Pallinghurst’s proposed investment and rights offering, allowing the Corporation to meet the revised budget and bring the project to commercial production, (ii) Investissement Québec’s continued support to close the Pallinghurst investment and rights offering, (iii) the Corporation’s longevity and the increase of the project’s inherent value for shareholders, (iv) the obtaining of shareholders’ approval, (v) the ability of the Corporation to obtain amended terms to the current stream agreements and the senior secured callable bonds, (vi) the execution of definitive agreements with Pallinghurst, (vii) the completion of an arrangement under the Canada Business Corporations Act, (viii) the ability of the Corporation to meet funding and other conditions under the Streaming agreement and the senior secured bonds, (ix) the ability of the Corporation to complete the mine construction and the Shawinigan facility, and (x) generally, the statements made by Messrs. Bourassa and Frandsen (notably those about the general outlook of the transaction) as well as the above “About Nemaska Lithium” paragraph which essentially describes the Corporation’s outlook. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that (i) amendments to the Bond terms or the Streaming Agreement will be obtained, (ii) definitive agreements will be concluded with Pallinghurst, (iii) the proposed investment will close, (iv) shareholders will approve the Pallinghurst investment, (v) that the Corporation will meet conditions under the streaming facility and the bonds and (vi) the Whabouchi mine and/or the electrochemical plant in Shawinigan will be commissioned and will begin production, as future events could differ materially what is currently anticipated by the Corporation.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the “Risk Factors” section of the Corporation’s Annual Information Form dated October 10, 2018, and the “Risk Exposure and Management” section of the Corporation’s quarterly Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.nemaskalithium.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
Gabrielle Tellier
Media Relations
514 348-0466
gabrielle.tellier@nemaskalithium.com
https://www.nemaskalithium.com/en/investors/press-releases/2019/989364c7-396f-4451-b75a-f1dfd3c5f009/
NEWS... Nemaska under yet another trading halt!
Nemaska curse continues!
[ACCESSWIRE]
LOS ANGELES, CA / ACCESSWIRE / July 18, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Livent Corporation ("Livent" or "the Company") (NYSE: LTHM) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant to and/or traceable to the Company's Initial Public Offering in October 2018 (the "IPO") are encouraged to contact the firm before July 22, 2019.
If you are a shareholder who suffered a loss, click here to participate.
www.schallfirm.com, or by email at brian@schallfirm.com." type="text">We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Livent's supply contract with Nemaska Lithium Inc. was terminated. As a result, the Company was forced to fulfill customer contracts using different vendors with unfavorable terms, reducing revenues and lowering margins. Livent had a long-standing contract to supply lithium hydroxide to a customer at a significantly lower price than its existing contacts. When the customer increased its orders, the Company's margins were further squeezed. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Livent, investors suffered damages.
Join the case to recover your losses.
http://www.baystreet.ca/viewarticle.aspx?id=552531
Support at .14 and .10 likely to be tested.EOM
Meanwhile it seems that below $.20 somebodies are buying ?
In hindsight...PERHAPS THEY SHOULD HAVE HAD A CLUE!
https://www.cnbc.com/2019/06/12/reuters-america-update-1-nemaska-lithium-eyes-fresh-steps-to-raise-capital-for-quebec-project-executive.html
Biggest worry here is bankruptcy or reverse split!
Incompetence prevails... Financing fiasco continues; cafeteria complete!
An extraordinary challenge for incompetent operations to source required funding on a timeline, especially on any sort of favorable terms.
Costly outside beneficence remains slighted by inconvenient but blatant reality of existing managements failed track record.
Competition continues among the fools and the fools that follow, while the same regime remains at the helm.
Endless reports and updates instead of accepting responsibility for egregious incompetence.
A wholesale house cleaning remains the solution necessary to turn the page.
More delays, more disparity, more desperate measures for funding.
More shoes likely to fall while a likely reverse split lingers.
More bids cause more concern for future failures.
Thank you for the news. At this point I will take anything positive.
News: $NMKEF Nemaska Lithium Provides Project Update
• Construction pace is adapted to ensure optimal use of current resources • 55% of detailed engineering completed in Shawinigan as of April 30, 2019 • Quality hydroxide products steadily produced out of the Phase 1 plant QUÉBEC CITY, May 1...
Find out more https://marketwirenews.com/news-releases/nemaska-lithium-provides-project-update-8197110.html
The stock seems determined to go back to below .10. I suspect the next financing will see the same yawn as the 1.1 billion did.Down down down.Last time it went from 1.00 to .40 for a 60% loss.This time could see a 60% loss of .12 going from .20 to .08.That's my thinking.
MORONS..."more prudent approach to conducting our project construction"!
Begs the remaining unanswered competency and loss of confidence questions of current management.
Nemaska Lithium Receives Independent Audit Report From BBA
Nemaska Lithium Inc. (“Nemaska Lithium” or the "Corporation") (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) is pleased to announce that an external and independent audit conducted, at the request and under the supervision of the Board of Directors’ Special Committee, by multidisciplinary Canadian engineering firm BBA, has validated Nemaska Lithium’s internal cost-to-complete construction assessment as of February 13, 2019, based on the information that was then available to the Corporation. Following the February 13, 2019 project update, the Corporation retained BBA as Owner’s Engineer to perform an independent audit of the quantitative estimate of the expected project CAPEX and a validation of the estimate class as of that date. This audit also comprises a qualitative assessment of the Project Execution Plan (PEP) and recommendations for potential improvements.
BBA's independent cost assessment is slightly lower than the Corporation’s prior cost-to-complete internal estimate as of February 13, 2019 and therefore validates the Corporation’s conclusion that additional net funds of approximately $375 million are required to meet the cost to complete drawdown conditions provided in the streaming agreement with Orion Mine Finance and the senior secured bonds. BBA also confirms that the Corporation has acted diligently to implement the necessary internal changes and assigned the appropriate supplementary resources in order to strengthen control over construction activities and optimize its existing resources pending the completion of the required additional financing or any other available strategic alternative.
"The decision to appoint a third-party to review our internal reassessment was the first of many actions that were undertaken for a more prudent approach to conducting our project construction. We are pleased to confirm that the Corporation has already proactively implemented a number of BBA’s recommendations while others are in the process of being implemented. We are resolutely looking towards the future to achieve our goal of completing construction and entering into commercial production as soon as possible. Meanwhile, the quality of our spodumene concentrate and lithium hydroxide product continues to be noticed and recognized globally." said Guy Bourassa, President and CEO of Nemaska ??Lithium.
A series of measures implemented to improve control over construction activities
In addition to bringing in new, seasoned experts to the construction project team, the Corporation has streamlined and improved its project control processes. It has fully internalized the entire project contract and procurement management function and is currently evaluating agreements with suppliers to ensure that contracting strategies are adapted to the current reduced pace of construction. Previously, a portion of these responsibilities were contracted to an external firm.
In-house expertise has also been enhanced with the appointment of specialist engineers in key positions for project delivery in Whabouchi and detailed engineering oversight in Shawinigan. Finally, a new risk assessment exercise for the completion of the project was launched in collaboration with external peers to identify, anticipate and limit potential consequences of any unforeseen events on project execution.
“We believe our revised construction and project execution plan, which factors the current reduced construction pace, allows us to advance our detailed engineering work and improve our planning and cost control, in order to be ready when the funds will be available. We are proud to see all our team members and partners join forces to advance the project. We are working diligently to meet the objectives set forth in our plan," added Robert Beaulieu, Vice President, Operations & Construction of Nemaska Lithium.
Next Steps
As previously announced on March 25, 2019, Clarksons Platou Securities and National Bank Financial have been mandated by the Corporation to lead a dual-track financing action plan – equity raise and/or consider M&A opportunities – to carry the project through the production stage at the mine and the electrochemical plant. The independent BBA Audit Report is an important data point and key validation of Nemaska Lithium’s financial requirements and internal controls to complete the project. The financing/strategic process is ongoing and various parties are currently involved at different stages. The Management Team is actively working with the qualified persons in charge of updating the NI 43-101 Technical Report – Feasibility Study on the Whabouchi Lithium Mine and Shawinigan Electrochemical Plant, which is expected to be filed during the month of June 2019.
Nemaska Lithium intends to hold its quarterly construction update call in the second half of the month of May 2019, in line with the filing of its quarterly financial statements.
About Nemaska Lithium
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
About BBA
BBA has been providing a wide range of consulting engineering services for nearly 40 years. Its engineering, environmental and commissioning experts team up to quickly and accurately pinpoint the needs of industrial and institutional clients. The firm’s expertise is recognized in the fields of energy, mining and metals, biofuels and oil and gas. With 12 offices across Canada to provide clients with local support and field presence, BBA is recognized for providing some of the industry’s most innovative, sustainable and reliable solutions. www.bba.ca.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to preserve cash on hand and to obtain the additional capital required to enable the Corporation to complete construction, the estimated additional costs to complete the construction of the Whabouchi mine and the Shawinigan plant, the ability to meet funding and other conditions under the streaming agreement and the senior secured bonds, the expected unfolding of construction and commissioning, the ability to adapt agreements with suppliers and contracting strategies to the current or ultimate pace of construction as well as the anticipated start of production at the Whabouchi mine and Shawinigan plant sites, constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the obtaining of the additional capital required in a timely fashion to fulfill the conditions precedent to receive the remaining proceeds from the project financing being the second tranche payment under the Streaming facility and the Bonds offering proceeds.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the ability of the Corporation to implement BBA’s recommendations, (ii) the outcome of BBA’s recommendations, (iii) the outcome of the new risk assessment exercise, (iv) the ability of the Corporation to secure additional funds or identify any available strategic alternative, (v) the ability of the Corporation to meet funding and other conditions under the Streaming agreement and the senior secured bonds, (vi) the outcome of the evaluation of several options that would enable existing and new shareholders and project partners to provide funding, (vii) the ability of the Corporation to complete the mine construction and the Shawinigan facility and restart construction at full pace within a timeline in order for estimated additional net funds of about $375 million financing to be sufficient, (viii) the outcome of the internalization of the project contract and procurement management function, (ix) the project execution plan allowing the Corporation to improve planning and cost control, and (x) generally, the above “About Nemaska Lithium” paragraph which essentially describes the Corporation’s outlook. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that additional funding or any other strategic alternatives can be available, that the estimated net funds of $375 million required to complete the project and to reach commercial production will be sufficient depending on the construction timeline and any related delays, that the Corporation will meet conditions under the streaming facility and the bonds in light of rights of secured creditors thereunder and that the Whabouchi mine and/or the electrochemical plant in Shawinigan will be commissioned and will begin production, as future events could differ materially what is currently anticipated by the Corporation. For greater certainty, any delay to secure the required additional financing or other available strategic alternative may impact the construction timeline and previously estimated required funds to complete construction.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the “Risk Factors” section of the Corporation’s Annual Information Form dated October 10, 2018, and the “Risk Exposure and Management” section of the Corporation’s quarterly Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.nemaskalithium.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
Media Relations
514 348-0466
gabrielle.tellier@nemaskalithium.com
...except perhaps for the right takeover?
Caution... Grossly incompetent management remains firmly in place!
And the real mess will remain as long as they remain.
Enter the next fiasco, the next haircut.
Pathetic. Rinse, repeat.
The resource will surely be plundered, but not be destroyed.
And yes, common shareholders will be screwed again.
I don't see .10 shares as being likely, not yet.
With competent management, never.
I may start looking at it then and once the mess is fully clean.
A plunge below .10 is likely when the financing deals are announced.
Incompetent management remains as time continues to pass!
Certainly hope they are at least building the mine on their own property while they continue to muddle about in public disgrace.
Absent a massive change in leadership, little hope for a successful investment among existing common shareholders can rationally remain possible.
Yet the masterminds orchestrating the recent mess appear to remain both useless and dazed in their blind stupor.
NEWS... Nemaska Attempts to Cover/Cure Cancer With Band-Aids!
While the barrel with rotten apples remains...
https://www.globenewswire.com/news-release/2019/03/12/1751629/0/en/Nemaska-Lithium-Welcomes-New-Directors.html
The insiders are too busy digging in the mines.
.10-.15 might become support.Or not.EOM
No signs of insider buying here.LOL EOM
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Listed as the top Lithium discovery in North America this company is in the process of
presenting a feasibility study for the mine and mill
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More Details
Since 2008, Nemaska Exploration is a leading player in the mineral exploration in Quebec (Canada), a province known for the exploration and mining investment .
Nemaska currently focusing its efforts on two mining projects in scope:
1.Whabouchi , a property rich in lithium and beryllium
2.Lac Levac property , rich in nickel , with copper and PGE.
Nemaska owns many high potential land mines - which are full of lithium in beryllium and nickel - including the formation of the Lake Mountains, a vast area, easy road access and highly reputed for its greenstone belt volcanogenic polymetallic .
Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region of Quebec. Its main assets are the Whabouchi (about 1,716 hectares), Lac Levac (about 9,200 hectares), Lac Arques (about 39,470 hectares), and Lac des Montagnes (about 12,740 hectares) properties, all 100 % owned. These properties are contiguous and cover about 85 km of the Lac des Montagnes green belt polymetallic formation. They are easily accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Nemiscau airport.
We operate the James Bay region of Quebec, most notably that of Nemaska over 70 km wide along the Formation of Mountain Lake,
easily accessible and recognized as a greenstone belt polymetallic volcanogenic.
Nemaska owns 100% of its five properties:
Whabouchi (lithium / beryllium)
Lac Levac (nickel)
Arques Lake (nickel, copper, PGE)
Lake Mountain (nickel, copper, chromite)
Kativik (rare earths, uranium)
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http://www.nemaskaexploration.com/fr/
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The number of shares issued and outstanding is now 65,834,206.
http://www.nemaskaexploration.com/documents/Rapport_Financier_Bilingue_30sept2010.pdf
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News
click headline for news link
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Mar 24
Nemaska's Whabouchi Lithium Project Continues To Produce Wide High-Grade Drill Results
Mar 8
Nemaska Exploration Reports Wide High Grade Channel Samples From Whabouchi Lithium Project
Jan 19
Jan 11
Nemaska Exploration Provides Update on Drill Program at Its Whabouchi Lithium/Beryllium Project
Jan 4
Nemaska Exploration Announces $3.7 Million Private Placement With Chinese Strategic Investor
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Roadshow setup
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