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Nemaska Lithium Reviews Strategic Alternatives
https://www.nemaskalithium.com/en/investors/press-releases/2019/6e4ef707-035c-4e9b-abfe-cc0b60b0de99/
Management incompetence has destroyed shareholder value and trust!
Retail stockholders are now 'stuck'holders, simply awaiting details of their final screwing.
Be advised this is not so unusual within the Canadian mining jurisdiction, similar to grey or pink sheet issues in the U.S.
Differences being that most investors know and understand the derelict regulation and standards in U.S. pink sheets.
Money will be made here... Mostly by the powerful big-money players privy to additional information.
"A decade of EV progression is leaving gas/diesel technology in the dust."
https://cleantechnica.com/2019/02/22/kia-e-niro-review-with-240-miles-of-range-i-repeat-there-is-no-more-excuse-to-not-own-an-electric-car/
Kia Niro EV Review — With 240 Miles Of Range, I Repeat: There Is No More Excuse To Not Own An Electric Car ,February 22nd, 2019 by Nicolas Zart
CleanTechnica spent time behind the wheel of the Kia Niro EV for two days in Santa Cruz, California. I walked away feeling that, finally, we have no more excuses to not own an electric vehicle (EV)
Carmakers must really feel the heat when it comes to EVs lately. Kia started working on its Niro concept in 2014. Today, it has a hybrid version and, for those on the fence about going electric, a plug-in hybrid (PHEV). It also has a pure EV, which is what most of our readers care to learn more about. The key number speaks for itself — 240 miles of range. But beyond the range, this crossover is far more fun to drive than its internal combustion engine (ICE) counterparts.
With 240 miles of range, the Kia Niro EV has enough range for a two-day stint. But the best features are the standardized wireless phone charging, auto-regen, anti-creep forward, and a few other things available across the Kia Niro lineup.
According to Steven Kosowski:
“Niro EV is a milestone vehicle for Kia and the Industry. It is the first mainstream EV crossover with real usable range — 239-miles — in a desirable design/style with a useful package, at an affordable price.”
Steve also talks about the fast pace of development at Kia:
“From Oct 2014 (first Soul EV launch) to Jan 2019, a little less than four years, the range has advanced from 93 miles to 239 miles (2.6×), and the battery energy density increased by +25%, while battery weight increased only 1.6x (640 lb to 1008 lb). Truly remarkable advancements in a short timeframe, and they align quite well with market/customer needs globally.”
Long trips in a Niro EV would be comfortable. The adaptive cruise control with the adaptive auto-regen means you drive the car with the steering wheel only. The lane keeping feature keeps the Niro EV well in its lane, but don’t take your hands off the steering wheel — it will remind you by beeping and, eventually, stopping. Can we call it autonomous level 2.5?
A decade of EV progression is leaving gas/diesel technology in the dust. It also makes the idea of hydrogen fuel cell vehicles difficult to grasp for daily commuting. Kia does a great job at presenting a compelling lineup of “alternative energy” vehicles and has no qualms putting its EVs center stage at auto shows.
Livent out, offers fix for mess all around!
New funding, new directors, ax crappy management.
But, question being, at what cost???
Right fit a win-win.
Screwing retail investors remains Canadian miners/government likely answer.
Continual fleecing of retail investors considered a renewal resource.
Flimsy governmental regulation = mining friendly jurisdiction.
Being taken out by current or other company worst for existing
shareholders; paying next to nothing and without choice.
So only REAL hope is entity desperate to lock in known near-term supply.
They would be the only ones offering fair market compensation.
Current management has abysmal negotiation skills.
Maybe another company will buy them (one of the big ones or perhaps Galaxy)
@.25 they "only" need too sell 1.5 bil shares.EOM
Nemaska investor dilemma: Incredible project vs incompetent/sleazy management!
Question being if investing debtholders/shareholders will finally cut losses and dump the useless patsy board condoning management or continue sitting on their hands, extending the carnage. More of the same clearly a no-go; insanity. Time to boldly carve away and discard the feckless cancer. Time to take action to protect the project potential and this incredible investment opportunity.
Termination: Improved strategic potential...Or back in the Clown-car!
Bumbling, stumbling.
Even a blind squirrel sometimes...
Nemaska Lithium Terminates FMC (Livent) Supply Agreement
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February 18, 2019 18:42 ET | Source: Nemaska Lithium Inc
multilang-release
QUEBEC CITY, Feb. 18, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (FRANKFURT: N0T) announces that is has terminated its multi-year supply agreement (the “Supply Agreement”) with Livent Corporation (previously FMC Corporation – hereinafter “Livent”). The Supply Agreement pertains to the provision of up to 8,000 tonnes per year (28,000 tonnes in total during the term of the contract) of lithium carbonate starting April 1, 2019.
As disclosed in the Corporation’s financial statements for the year ended June 30, 2018 (Note 23 – Subsequent Events), the Corporation and Livent have had discussions with a view to amend the Supply Agreement and throughout the discussions with Livent, the Corporation has advised Livent that it might have no option but to terminate the Supply Agreement and repay Livent the USD10M payment (received by the Corporation in April 2017) plus a similar amount as a termination fee, which the Supply Agreement expressly allows it to do. Despite good faith negotiations, the Corporation was unable to reach a mutually satisfactory outcome with Livent. As a result, the Corporation has no choice but to exercise its contractual right to terminate the Supply Agreement. Livent has advised the Corporation that it is seeking arbitration, which the Corporation will vigorously defend.
About Nemaska Lithium
Nemaska Lithium 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, Nemaska Lithium 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.
Nemaska Lithium 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 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 arbitration proceedings, 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. There is no assurance that these assumptions will prove to be correct.
Forward-looking statements contained in this press release including, without limitation, those related to (i) the Corporation’s assertion of its entitlement to terminate the Supply Agreement, (ii) the outcome of the arbitration process, (iii) the ability of the Corporation to access additional funding under existing arrangements, and (iv) generally, the above "About Nemaska Lithium" paragraph which essentially describes the Corporation's outlook, constitute ''forward-looking information'' or ''forward-looking statements'' within the meaning of certain securities laws, and 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 an outcome satisfactory to the Corporation will result from the arbitration proceedings.
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 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
Fanny-Ève Tapp
Media Relations
514 442-0445
fanny-eve.tapp@nemaskalithium.com
www.nemaskalithium.com
https://globenewswire.com/news-release/2019/02/18/1733899/0/en/Nemaska-Lithium-Terminates-FMC-Livent-Supply-Agreement.html
Additional Response info / link:
https://www.marketwatch.com/press-release/livent-corporation-responds-to-nemaska-lithiums-notice-of-termination-2019-02-18
I don't believe there was an overage epiphany!
But... Maybe they put all their bids for everything into a glass mayonnaise jar that was forgotten about until it fell off the lunch room during the fire table and crashed onto the floor. Makes me wonder who really knew what and when. Also, note the trading halts for prior trivial, by comparison, stuff. And there was lots of money made... And lost.
The 'oh my' explanation, spoken like these things often just happen, destroys all credibility, regardless the reason. You can call it incompetent but I maintain that would likely be the best case scenario, to be offered up by Pollyanna. What a mess.
Bonuses and frog legs all around.
It just comes down to incompetent management! That’s not a little mistake in the overall cost to complete the project. WOW
Valuation only works without the discounting their credibility!
Reflections On Nemaska's Bombshell
https://seekingalpha.com/article/4241693-reflections-nemaskas-bombshell?dr=1
"Repriced To The Same Valuation
The market quickly repriced Nemaska to the same valuation after accounting for an additional $285 million of equity dilution. If you own it, I would not buy any more. If you do not own it, buying it at the current price is not giving you any sort of discount to where it was a few days ago. Again, it has been repriced to account for the dilution and continues to trade for the same valuation. It is not cheaper.
"Nemaska continues to trade at a valuation that is comparable to Lithium Americas (LAC). Both companies are targeting 2022 for full production.
"Nemaska shareholders should set down their stones (for now at least). In a few years, they just might have the lowest-cost hydroxide producer and one who actually discloses its low costs. That which was once rejected may become increasingly valuable and transparently so.
Nemaska Lithium: A Train Wreck Of Epic Proportions
https://seekingalpha.com/article/4241411-nemaska-lithium-train-wreck-epic-proportions?dr=1
I suppose .10 is possible in this environment.EOM
More pain is coming:"Nemaska's Lithium Project Turns Into A Disaster"
https://seekingalpha.com/article/4241081-nemaskas-lithium-project-turns-disaster?dr=1
Summary
Nemaska's Whabouchi lithium project will cost C$375 million more than originally projected.
The cost overrun is a disaster, given the low share price.
A significant share dilution is highly probable.
Nemaska's share price declined by 38%, but given the uncertainty, it may fall further.
Exactly...The dull-seemingly endless kind of pain very likely!
Amazing comments, given his association...
And I like Joe, but he must know financing BS reeks throughout the Canadian miners.
"Meanwhile, lithium expert Joe Lowry said that although generically speaking lithium projects are challenging to bring online, the scale of the debacle in Quebec — the poor execution and inability to properly frame costs — is specific to Nemaska.
“Unfortunately it will be another black eye on lithium juniors. So despite being a significant failure by a single company, it will have industry-wide ramifications making already skittish investors even more negative,” Lowry, who is co-host of the Global Lithium Podcast, told INN.
https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/nemaska-lithium-financing-shortfall/
Bring on the pain!EOM
More bad news/downgrades reflecting poor investor sentiment!
* Nemaska Lithium Inc : BMO cuts to market perform from outperform
* Nemaska Lithium Inc : BMOcuts target price to C$0.50 from C$1.45
* Nemaska Lithium Inc : Cormark Securities cuts price target to C$0.55 from C$2
* Nemaska Lithium Inc : Cormark Securities cuts to market perform from buy
Money to be hustled away from retail investors!
Imagine how 'surprised' management will be finding no good terms to finance additional necessary funding.
Like they were so 'surprised' from prior financing haircut too. Again their numerous 'experts' will also be surprised... Rinse, repeat.
Canadian miners mostly the same.
Buy low... Sell hy--pe.
Call me paranoid and overly optimistic but it looks there was a plan to knock this $20+ billion company in the making, stock price down for big future gains by insiders and others.I believe NMKEF can see $20.00-30.00 in 5-10 years.I believe lithium can rise to 30,000-50,000 per ton and this company has the goods.I also think the stock will test .15 in the next few weeks.
You still don't get it... No simple mistake!
Lots of money will be made, but not by average retail investor saps.
It runs rampant like this in Canadian mining stocks.
Make no mistake this was no oversight.
The board and management remain because debtholders reward these actions.
Just rinse and repeat with the next bunch of retail investor fools.
Really, you believe they just realized all costs rose?
Oh my, so many experts just 'missed' it.
Wouldn't be surprised if someone scooped them up. They do have SoftBank invested in them for now.
Good for you. I did not have much on this, but it still hurts. I am mostly upset that they had raised in the order of $1B for this project and they now realize the need a bunch more money. Ridiculous.
Lol said that when it dropped to .76 They don’t care about us so I sold there. And boy I’m glad I did!
I sold the few shares I had and will use it as a tax loss. I may return if it gets to the teens or when the hydroxide plant is closer to completion. Spodumene is not enticing enough for me to enter. Guy and his team should be fired.
Dissapointed
I'll take the tax loss and look to buy a larger position in the teens.
Nice haircut; styled by Guy. His word: REALITY!
So new financing (dilution)... What, maybe 30% off about $0.30 US?
That would explain expected interest from current debt holders.
I'm out.Ouchda EOM
It's Canada...It's a mining stock; nuff said!
Canada is notorious for allowing 'surprise' crap by management.
It's the wild west and the Bay street norm.
'Halts' only for chumps.
Expect it.
Look back at their dilution games from the last financing fiasco.
Resource should be valid. Trade it, but don't trust it.
Expect no accountability by management.
.15 is possible now!EOM
News:Reassessment of Cost to Complete ,Update on Overall Whabouchi Project
the Corporation currently estimates that additional net funds of about CAD 375M would be required
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=146802542
QUÉBEC CITY, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) today provides an update on the evolution of the Whabouchi project (mine and electrochemical plant). The Corporation reports that construction and purchasing of equipment at both the Whabouchi mine and the Shawinigan electrochemical plant are progressing on schedule. As expected at this stage of construction, a cost to complete reassessment was performed to reflect the current level of detailed engineering and reception of numerous firm quotes for equipment and installation.
“We now have a better understanding on the remaining scope of the project, estimated budget and current market conditions. The revised overall project cost reflects a more precise outlook on installation costs and other key variables to the completion of our project,” said Guy Bourassa, President and CEO of Nemaska Lithium.
As at December 31, 2018, CAD 138.4M has been incurred for the Whabouchi mine, and CAD 67.3M for the Shawinigan electrochemical plant covering mainly engineering, site and civil works. As of February 8, 2019, the Corporation had on hand CAD 335M in unrestricted cash and cash equivalents.
Cost to Complete Reassessment
Based on the CAD 1.1B financing package announced on May 30, 2018, and based on the past eight (8) months of construction, the Corporation currently estimates that additional net funds of about CAD 375M would be required to enable the Corporation to complete construction and meet the drawdown conditions provided in the streaming agreement with Orion Mine Finance and the senior secured bonds closed on April 12 and May 30, 2018 respectively.
An important portion of these costs are now being based on finalized agreements and/or bids received rather than estimates as it was the case for the NI 43-101 Technical Report. This additional estimated funding, which is largely related to installation and indirect costs, was determined as a result of a detailed review and deeper knowledge of all project components, including detailed engineering work, revised site geotechnical data and updated equipment and installation costs. On the other hand, direct purchase package costs, mainly representing equipment, are in line with the initial budget.
“Project construction is on time and we have a capable team in place to execute and deliver the project. We also have the benefit of a strong shareholder base as well as partners with whom we are working very closely to identify a variety of funding solutions to deliver the project according to the schedule,” said Guy Bourassa. “We are evaluating several options that would enable existing and new shareholders, and project partners to join the table. Our objective remains to close the required financing on time to stay on target to complete mine construction in October 2019, in order to make the first shipment of spodumene concentrate in December 2019, followed by the start-up of the Shawinigan facility the year after.”
Ongoing Activities
In the meantime, the Corporation continues to deliver high quality lithium hydroxide products from the Phase 1 plant: “We have recently completed the installation of the drying and bagging equipment, and we have started producing lithium hydroxide monohydrate that meets battery industry product specifications,” added Mr. Bourassa. “We are very pleased with the high interest demonstrated for the product as over twenty end-users from across the world have requested to receive some of the first samples for qualification.”
The Corporation is currently evaluating the opportunity to increase the lithium hydroxide versus carbonate sales ratio to better meet the growing demand of hydroxide globally.
In parallel, significant work has also been done to finalize and implement the Whabouchi mine readiness plan, everything from procurement to operations, as well as recruitment and training activities.
“Currently, there is a very limited number of vertically-integrated lithium projects that are fully permitted and under construction around the world and Nemaska Lithium is the most advanced. As new sources of supply are required, mainly for electrical vehicles, we are building in Québec strong and valuable assets that will support innovative and green business opportunities,” concluded Mr. Bourassa.
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.
Lithium:"The Biggest Bottleneck In The Renewable Revolution" Feb 12, 2019
https://safehaven.com/commodities/industrial-metals/The-Biggest-Bottleneck-In-The-Renewable-Revolution.html
"If all the conventionally-fueled cars in the world were replaced with electric cars overnight, the global supply of lithium would be completely depleted in just approximately fifty years. Yes, this is purely hypothetical; about three million electric cars are currently in use globally--just a drop in the automotive ocean. That being said, that number is projected to skyrocket over the next decade, reaching a global fleet of approximately 125 million by 2030."
Patience is bliss...
Here we are at .40 just what my gut told me could be support.I bought @ .76 and @.62 and would love to buy more here.I like the EV story and still think 30.00-50.00 is possible in 5-10 years.I have the position I wanted to achieve specific long term goals.No negative surprises so far and no regrets.Things are on track for a rewarding ROI.
Claystone is the future https://finance.yahoo.com/news/lithium-brine-investors-youre-miss-140000099.html
"Tipping Point 2022"?:A new report claims the electric vehicle market will reach a “tipping point” in 2022, when the cost of owning a BEV will equal that of owning a gas or diesel vehicle. The analysis comes from Deloitte, which also foresees EVs grabbing ten percent of the total market by 2024.
https://electrek.co/2019/01/30/report-claims-ownership-cost-of-evs-in-uk-will-be-equal-to-gas-diesel-cars-by-2022/
Report claims ownership cost of EVs in UK will be equal to gas/diesel cars by 2022
Phil Dzikiy- Jan. 30th 2019
Deloitte identifies two main factors in reaching this conclusion in its incredibly detailed report: policy and regulation. The report points to future emission targets and fuel economy standards, financial incentives, and future city access restrictions as being the major drivers of this point.
Regarding those access restrictions, it’s pointed out that about 20 major cities have already announced plans to ban gas and/or diesel vehicles by 2030 or sooner.
The second factor is customer demand. Deloitte’s report analyzes various customer concerns, including driving range, cost premium, and charging infrastructure/time. Demand is expected to increase over time based on the expected future progress in batteries and battery systems. Presumably, customer anxieties will ease around the time of this prospective tipping point.
Deloitte’s outlook expects worldwide sales of 2 million EVs in 2018, increasing to 4 million annually in 2020 and 12 million by 2025. By 2030, an estimated 21 million EVs will be sold within the year.
This trend will see BEVs continue to outperform PHEVs, and Deloitte expects the sales of internal combustion engine vehicles to level off in the early part of the next decade and begin to fall from 2024 going forward.
Rising Markets
Certain markets have already seen EV sales start to take off, with Norway leading the way — roughly a third of all new cars sold last year in the country were zero-emission vehicles. As expected, pre-orders for EVs are also very strong in Norway, which is aiming for all new cars sold in the country to be all-electric by 2025.
While Norway is clearly the frontrunner, we’ve also seen other markets report rapidly increasing EV sales rates — more than 8 percent of new car sales in Canada in 2018 were EVs, with the Tesla Model 3 making a big impact in the country.
Carmakers continue to make new commitments toward EVs — just last week, Toyota and Panasonic confirmed a new battery partnership. GM is also now considering adding all-electric vehicles to their GMC SUV and pickup truck lineup — certainly not a commitment, but the consideration is a sign of the times, and an indication of why some believe such an EV tipping point may be on the horizon.
Construction to resume Feb 5:
Nemaska Lithium to Resume Construction of Whabouchi Mine Site on February 5, 2019
QUEBEC CITY, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt : N0T) announces that construction work at the Whabouchi mine will resume on February 5, 2019. Mine construction activities were put on hold this morning following a fire in the cafeteria of the Nemiscau workcamp, a facility owned and operated by an outside contractor that is located approximately 15 km away from the Nemaska Lithium mine site.
Nemaska Lithium has located an alternate cafeteria facility which is approximately 1 km from the existing lodging facility that will be opened to accommodate Nemaksa Lithium’s employees until mid-March, when the Whabouchi mine site workcamp currently under construction will be opened.
“We are very grateful for the rapid action of our local partners, who will be lending us the cafeteria of their nearby facility. Thanks to their responsiveness, we will be able to quickly get back to constructing the mine with minimal to no delays,” said Guy Bourassa, President and CEO of Nemaska Lithium.
“While we are relieved that this unfortunate incident was settled promptly, we are very touched by the impact of the fire on the Cree community of Nemaska,” added Mr. Bourassa. “The cafeteria was a very popular social venue for the local community, and we are sensitive to this loss which, we hope, will only be for a short time.”
At this time a small work crew remains on site to continue the construction of the Whabouchi workcamp. They are housed through VPC, a contractor of Nemaska Lithium.
https://www.canadianinsider.com/nemaska-lithium-to-resume-construction-of-whabouchi-mine-site-on-february-5-2019
Update:Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) announces that a fire that occurred last night has caused damages to the Nemiscau workcamp cafeteria, which hosts the construction workers of the Whabouchi mine located 15 kilometres further. Construction work at the mine site is suspended indefinitely.
“All the workers who were sleeping nearby the cafeteria have been rapidly evacuated and nobody was injured. We are actively working to find a solution to offer our workers a cafeteria service and to resume our activities as quickly as possible,” explained Fanny-Ève Tapp, spokesperson for Nemaska Lithium.
All employees and subcontractors have been informed of the temporary interruption of work. In the interim, 167 workers will be going home today.
More information will be provided as soon as it becomes available.
https://ih.advfn.com/stock-market/TSX/NMX/stock-news/79159151/fire-at-the-nemiscau-workcamp-cafeteria-nemaska-l
News:Fire at the cafeteria Construction work at the mine site is suspended indefinitely.
QUEBEC CITY, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) announces that a fire that occurred last night has caused damages to the Nemiscau workcamp cafeteria, which hosts the construction workers of the Whabouchi mine located 15 kilometres further. Construction work at the mine site is suspended indefinitely.
"the disconnect between lithium prices and the demand side of the equation has never been bigger"
https://oilprice.com/Energy/Energy-General/Oversold-Lithium-Could-Be-About-To-Rally.html
Oversold Lithium Could Be About To Rally
By Alex Kimani - Jan 28, 2019
Nice.
New low in the .33-.37 area likely.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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