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Updated Nemaska NI-43-101 Technical Report!
http://finance.dailyherald.com/dailyherald/news/read?GUID=38643399
NEWS... New Board of Directors Urgently Needed!
https://www.cnbc.com/2019/06/12/reuters-america-update-1-nemaska-lithium-eyes-fresh-steps-to-raise-capital-for-quebec-project-executive.html
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
Many $ources, all with strings; just not enough!
And lots of conditional money will go by the away without complete funding.
Seeking additional funds after such gross incompetence will not be found on favorable terms, if at all.
So dragging this out, resulting in a cheap buyout also remains a distinct possibility, especially likely among miners in Canada.
The situation is dire for retail investors. Beware.
Nemaska Lithium has $335 Million of cash on hand to use for their business needs. They recieved it when SOFTBANK invested in NMX
Management credibility crisis crashes confidence... Again!
Expense estimates called into question.
Investor antennae rise on funny-business feeling.
ZERO financial wherewithal being the best-case scenario.
50% HAIRCUT TODAY!!! woòoohooooo!! BUYING THE SH 1T OUT OF THIS TODAY
$$NMX$$
Nemaska to Resume Whabouchi Mine Construction February 5!
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.
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.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release 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.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the resumption of construction at the Whabouchi mine on February 5, 2019, (ii) the accommodation of Nemaksa Lithium’s employees until mid-March, (iii) the opening of the Whabouchi mine site workcamp around mid-March, (iv) the expectation of minimal to no delays in the construction, and (v) 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 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
Fanny-Ève Tapp
Media Relations
C. 514-442-0445
fanny-eve.tapp@nemaskalithium.com
www.nemaskalithium.com
https://ih.advfn.com/stock-market/TSX/NMX/stock-news/79163883/nemaska-lithium-to-resume-construction-of-whabouch
Oversold Lithium Could Be About To Rally
https://oilprice.com/Energy/Energy-General/Oversold-Lithium-Could-Be-About-To-Rally.html
Chile Renews Contract With Lithium Company SQM!
Chile renews contract with lithium company criticized for damaging wetland
by Michelle Carrere on 26 December 2018 | Translated by Sydney Sims
A lithium company operating in the Atacama salt flats in northern Chile has been cited for environmental impacts related to over-extraction of the mineral-rich brine.
The region contains more than half the world’s lithium reserves, a crucial component in energy storage technologies, with widespread applications in the automotive and electronics industries.
Situated in the heart of the driest desert in the world, the salt flats support a unique wetland environment home to multiple flamingo species.
In the heart of the driest desert in the world, a company currently sanctioned for half a dozen environmental infractions continues to mine reserves of one of the most coveted commodities on Earth.
The Atacama salt flats in northern Chile hold more than half the world’s known reserves of lithium, a crucial element in the energy-storage technology driving the boom in electric cars and digital devices. And hovering it up since 1993 is Sociedad Química y Minera de Chile (SQM), a company that in January 2018 secured an extension with a government agency to continue mining through 2032. The renewed contract allows SQM to increase its lithium production fivefold.
Although this increase in production would be due to improved processes rather than greater extraction of the resource, the ongoing activities of SQM in the Atacama salt flats have concerned scientific and civil communities, which have been observing a long-term deterioration of ecosystems in the basin.
The still waters of the Atacama salt flats reflect nearby mountains. Photo by Michelle Carrere
A wetland in the desert
Water is precious in the arid Atacama, and the salt flats provide a rare wetland habitat crucial for a number of flamingo species. From the summits of nearby mountain ranges, water flows in underground aquifers and through the Vilama and San Pedro rivers to drain into the salt flats. Here, the fresh water pools into the great salt flats, stopped by the dense saltwater brine — the source of the lithium reserves.
Ingrid Garcés, a researcher from Chile’s University of Antofagasta, with a Ph.D. in geological science, says the two waters don’t mix easily. At first glance, they appear to separate like water and oil due to their different densities. In the flats, the waters remain still, with the freshwater retained in the lakes of varying size that crown the edges of the salt flats. The vegetation on the east border is “the most sensitive area of the salt flats, since the groundwater or surface water that flows into the salt flats comes from there,” Garcés says.
Lake systems such as the Soncor, Aguas de Quelana and Peine are crucial breeding and nesting sites for the area’s flamingoes, which include species such as the Andean (Phoenicoparrus andinus), Chilean (Phoenicopterus chilensis) and James’s flamingoes (Phoenicoparrus jamesi). The Andean is the rarest of flamingo species, and is categorized as vulnerable by the International Union for Conservation of Nature (IUCN). The other two species are considered near-threatened. In early 1996, these wetlands were declared a Ramsar site, under an intergovernmental treaty on the conservation and wise use of wetlands.
A flamingo flies above the Atacama salt flats. Photo by Michelle Carrere.
Setting the rules on lithium production
SQM extracts lithium-rich brine from the core of the salt flats at a depth of roughly 30 meters (about 100 feet). The brine is then deposited in evaporation pits for between 11 and 14 months, after which salts with 6 percent lithium remain. Garcés says that during the extraction process, “for each ton of the mineral, about 2 million liters [528,000 gallons] of water are eliminated, through evaporation.” The salt is then shipped in trucks to processing plants in the city of Antofagasta to extract the lithium as well as other compounds, such as potassium chloride, potassium sulfate and boric acid.
During the process, discarded salts are piled, some of the brine is re-injected directly into the salt flats, and some is drained into the aquifer, recirculating back into the system. “However, the percentage of water that is recovered is less than 10 percent, since the vast majority evaporates,” Garcés says.
For years, SQM said in its reports that the lakes and salt flats were two impermeable and unconnected water systems. Without an independent report, this was taken as the truth — until recently, when the company acknowledged that there was some interaction between the systems. Through tunnels and underground caverns, freshwater interacts with the salt flats, forming the same hydrological system, so that “the extraction of brine, or saltwater, from the salt flats can affect the lakes,” Garcés says.
In 2006, Chile’s environmental authority granted a permit for the development of a project that sought to increase the extraction of brine, the extraction of freshwater on the edges of the salt flats, the area of solar evaporation, and the collection of salts discarded in the salt flats’ core. The production of potassium chloride also requires freshwater, which is why SQM has the right to use this resource from five wells on the edges of the salt flats.
The project developers said it would be done with zero environmental impact, and a permit, Resolución de Calificación Ambiental (RCA), was granted under that condition. “The increase in the rate of pumping fresh brine will follow an operational rule, which ensures that the level of the aquifer at the edges of the salt flats, where the sensitive environmental systems are located, will oscillate within its historical behavior,” the RCA says. To avoid any environmental impact, a monitoring plan was considered to determine the levels of water recharge and discharge, and any potential change in the aquifer’s natural behavior.
In addition, a contingency plan was devised for when the lakes’ water level reached a certain threshold. Monitoring wells and observation rules were established in the RCA for the Aguas de Quelana, Soncor, Peine and east border vegetation systems. When the threshold of these wells reached their historical minimum levels, a warning would be activated to increase the monitoring frequency to anticipate impacts, and in a second stage, reduce the pumping flow of brine and/or freshwater, as appropriate. In the event of any impact, “the operational execution of the project would have to be suspended immediately,” the RCA says.
Lack of transparency over environmental impact
In November 2016, Chile’s Superintendency of the Environment, the government agency responsible for overseeing environmental permits, initiated a sanctioning process against SQM for having, among other things, unilaterally modified the activation levels of its contingency plan. That meant that “the plan was not activated when it should have been,” says Alonso Barros, a lawyer for the Atacama Desert Foundation and legal representative of the Camar indigenous community.
According to charges drafted in 2014 by the superintendency, the company withdrew two monitoring wells, thereby deactivating warning indicators. The superintendency considered the charges to be “very serious.”
A criminal complaint, currently pending, filed by the Atacameño indigenous community of Camar against SQM, says that “this illegal action was carried out in a manifestly fraudulent manner, since such alterations made by the owners of SQM were made in a completely unilateral and surreptitious manner, without being authorized to do so by the environmental authority.”
Collecting water samples in the Atacama salt flats. Photo by the Council of Atacameño Communities.
SQM was also found to have committed five other environmental infractions, among them excessive brine extractions that were authorized between August 2013 and August 2015. In March 2015, the Superintendency of the Environment, together with the National Forest Corporation and the Agricultural and Livestock Service, conducted an inspection that found “that the number of areas or plots without vegetation in the east border vegetation system has been increasing.
Furthermore, the richness of the species has decreased compared with the previous year, though the company has not reported this situation to the environmental authority.” In fact, the charges detail that 13 carob trees, a hardy species that’s one of the few plants able to survive the area’s harsh conditions, dried up during the project, none of which the company reported to the environmental authority, which it was legally required to do.
Significant effects on soil pH and salinity were also confirmed, with warnings that “the soil has changed from being moderately saline to strongly saline, with a higher alkaline pH level.” In addition, the inspection found that the company provided incomplete information regarding the extraction of freshwater, levels of wells and plant formations, “which does not allow for traceable information from which variables can be verified.”
In June 2013, four months before the first inspections were carried out that would reveal these infractions, SQM obtained an environmental permit to increase its production of potassium chloride in the Atacama salt flats by 700,000 tons.
Mongabay Latam reviewed the documents related to the permit. In one of them, a monitoring report by SQM from April 2012, the company warned of an “increase in carob trees with low green coverage and a dry state of health.”
Yet despite this, the following June the Regional Environmental Evaluation Commission approved the company’s request to increase its production. The person who chaired the commission and signed the permit was the then-mayor of the Antofagasta region, Pablo Tolosa. Tolosa served as a lawyer for SQM between 1998 and 2010.
A dry section of the Atacama salt flats. Photo by Michelle Carrere.
SQM claims compliance with its permit
In response to the sanctioning process initiated against SQM, the company presented a compliance program, which has not yet been approved, and claimed to take responsibility for each of the infractions, committing to comply with regulations in the permit granted to it in 2006.
As part of the program, the company committed, among other things, to the “implementation of online monitoring systems that will help to strengthen the verification of compliance with brine and industrial water extractions.” In addition, SQM said it would adopt other measures, such as immediately halting the extraction of water from one of its wells.
But at the same time, the company said the negative effect of brine extractions beyond what its permit authorized “is marginal,” and that “it has a minimum level of influence … represents a contribution less than 2% of the observed decreases, that is, close to 1 mm, and is a value that would be even less since this additional extraction has not been carried out permanently.” Regarding the increase in soil salinity, the company similarly said that “the possibility of negative effects derived from the infringement is absolutely ruled out.”
Environmental biologist Carolina Díaz, general manager of the consulting firm Amakaik, which is developing an ecological model for the Atacama salt flats, says that “a compliance program, which denies the responsibility of generating impact as a result of infractions, cannot be a good program. This is because it does not know whether the proposed measures will be effective in mitigating these impacts, since they are not well identified and much less quantified.”
Díaz says the existing research on these ecosystems and the impacts caused by the industry was carried out by SQM and thus belongs to the company. In effect, “the burden of proof for no impact is always on the client, it is not in the government,” she says. Under the current environmental evaluation system, it’s the owner of the project who periodically obtains the environmental data, analyzes them and delivers the information to the authority. The authority supervises, “but there is no permanent empirical verification of the data obtained from the operation of these plans and, in most cases, the raw data obtained are not available for independent analysis,” Díaz says.
She adds that while “it is very likely that the company is causing harm, the studies they conduct and their opinion is one thing. Another is the proof.”
This story was originally published on Mongabay Latam.
https://news.mongabay.com/2018/12/chile-renews-contract-with-lithium-company-criticized-for-damaging-wetland/
Albemarle Lithium Mining Dispute Continues With Chilean Government!
By Laura Millan Lombrana
December 22, 2018
For the past nine months, a U.S. company that is the world's largest producer of lithium — a key ingredient in electric-car batteries -- has been locked in battle with the Chilean government over pricing issues, production quotas and environmental compliance. With no resolution in sight, the fight is sending tremors all the way up the electric vehicle supply chain that provides batteries to Tesla Inc., Nissan Motor Co., Bayerische Motoren Werke AG and other car makers.
The drama is playing out in the northern reaches of Chile's Andes Mountains amid the arid and austere Atacama Desert, a vast, high-altitude bowl surrounded by snow-capped volcanic peaks named after ancient gods of the indigenous people. The U.S. company, Albemarle Corp., has taken over a massive salt-flats mine, pumping scarce briny water through dried-out salt marshes and lagoons to extract the prized mineral. A dozen or so miles away, thick flocks of Andean flamingos feed peacefully in a lagoon teaming with tiny shrimp, as they have for countless millennia. But as mining activity surges, water tables are falling amid growing environmental concerns.
It's bad news for the flamingos — and boom times for the miners. Automakers have moved so fast to boost production that prices have tripled in less than four years, sending miners in a frantic search for lithium all over the world. And it's still early days. Demand for lithium for electric vehicle batteries is projected to rise to around 500,000 tons over the next seven years, from a current 64,000 tons, according to estimates by Bloomberg NEF. And Charlotte, North Carolina-based Albemarle aims to invest almost $1 billion to more than triple its production capacity in Chile, which has more lithium reserves than anywhere else on the planet.
Not so fast, says the Chilean government, which has slapped the company with a myriad of complaints that threaten to slow that expansion push. The government alleges the company has ignored its requests to adequately detail its expansion plans. At least two government agencies responsible for lithium permits have rejected the company's request for licenses it needs to expand. A third agency has said it will file for international arbitration before the end of the year over a pricing spat between the company and the government. It will be the first time the government has ever taken such a step against a foreign company.
Albemarle, which declined to comment for this article, has previously said that it believes “very strongly” in the legality of its position. Until a few years ago, lithium was a minor business, mined mostly for medical uses. In 2015, Albemarle acquired the Atacama lithium operation from another U.S. company; as production rose and prices skyrocketed, several executives from the former ownership were edged out, including John Mitchell, lithium operations president.
As production ramped up, Albemarle failed to respond to Chilean officials’ calls, emails and formal requests for information about changes at the mining operations, according to government officials. When they did respond, their answers were lacking, according to Maria Elina Cruz, a prosecutor at government development agency Corfo, suggesting that the always delicate relationship between a foreign, multinational company and its hosts might have turned sour as the company changed hands.
“Their proposals haven’t been reasonable,” Cruz said in an interview in Santiago. “It is not such a complex issue. In the end, the problem is that they are not ready to lose one single peso — that’s the issue.”
At a conference call with analysts in November, Chairman and Chief Executive Officer Luke Kissam acknowledged that “there’s a dispute” with Corfo, but didn’t elaborate on the overall relationship with the Chilean government.
In 2016, Corfo signed a contract with Albemarle that awarded the company authorization to mine increasing levels of lithium through 2043. In exchange, Albemarle agreed to give a break on the price of up to 25 percent of its increased production to companies developing lithium products in Chile. The idea is for Chile to turn the corner from being a mere supplier of raw materials to getting a toe-hold in the lucrative and more technologically advanced world of battery design and production. The clause is part of the government’s broader push to develop lithium-based components for batteries.
In March, Corfo picked Chile’s Molibdenos y Metales SA, or Molymet, a consortium of South Korea’s Samsung SDI and Posco and China’s Sichuan Fulin Industrial Group Co. The companies vowed to invest a combined $754 million in northern Chile. The plan is now frozen after Corfo and Albemarle couldn't come to terms on lithium prices.
“Albemarle’s position is that they won’t negotiate anything that impacts their benefit — and this does, because it involves selling lithium at a price lower than the market price,” said Cruz, who has led the negotiations with Albemarle. “The problem is that this was a clause in the contract.”
“If I thought there was the smallest chance of Albemarle fulfilling its contract, we wouldn’t be in this position.”
Company executives see it differently. “With Corfo, it’s been very public what that confusion is; it’s a matter of what price needs to be offered to any third party who would build a cathode facility in Chile” to build lithium components for electric autos, Kissam told analysts in November. “We believe very strongly in our position — we think it’s clear.”
Arbitration is expected to last about 18 months, Cruz said, likely delaying investments that would allow the country to become a hub for the industrialization of lithium products in South America.
“We haven’t made this decision lightly,” Cruz said. “If I thought there was the smallest chance of Albemarle fulfilling its contract, we wouldn’t be in this position. This is our last resort; there’s no other way of reaching an agreement.”
Albemarle’s troubles with Chilean authorities don’t end there. The country's environmental authority, SEA, turned the company down for a license it would need to build a planned $584 million lithium processing plant needed to increase production. The rejection came after the company failed to submit a thorough report on the project’s impact on the environment in the area. Obtaining such licenses typically takes months, sometimes years. The company is confident that it will be able to bring new capacity in line “in the coming 12 to 18 months,” Kissam told analysts earlier this month.
Both Corfo and another agency known as Cchen detected that Albemarle was selling Chilean lithium at a price much lower than the market average to its own subsidiaries in the U.S. and Germany. This could constitute a violation of price parity rules from the Organisation for Economic Cooperation and Development and could mean that the company would be paying lower taxes than it should. Both agencies reported the issue to Chile’s internal revenue service, known as SII, which declined a request for comment on whether an investigation is ongoing.
Cchen also recently rejected a permit Albemarle needed to extend operations beyond 2021. The agency said the company didn’t sufficiently explain how the use of a new technology would make the mine more efficient, allowing Albemarle to increase production without pumping more brine from the salt flat.
Albemarle's recent actions signal it has no intention to negotiate anytime soon with the Chilean government. The company has now put its long-term Atacama expansion plan on hold as it focuses on its Australian operations.
“When you cross a regulator, it doesn’t matter in what country,'' said Chris Berry, a New York-based battery-metals analyst and founder of research firm House Mountain Partners. Whether “the U.S., China, Argentina or Chile, you got a real problem on your hands.”
https://www.bloomberg.com/news/features/2018-12-22/score-one-for-the-flamingos-in-high-altitude-fight-for-lithium-supplies
Warren Buffett-Backed Electric Vehicle Maker Plans Battery IPO
(Bloomberg) -- BYD Co., the electric-car maker backed by Warren Buffett, plans to list its battery business by 2022 to raise funds to expand as the global auto industry transitions away from the traditional combustion engine.
The listing will occur sometime by the end of 2022 and the company hasn’t decided yet where the shares will be trading, Chairman Wang Chuanfu said in an interview with Bloomberg News Wednesday at its headquarters in Shenzhen. BYD, which makes batteries for automobiles and mobile phones, is in the process of spinning off its vehicle-battery operations into a separate company before listing. It isn’t clear yet whether the IPO will be for the car-battery business alone, or will also include other units.
Batteries are emerging as a key part of the electric-car revolution that’s causing the biggest disruption to the auto industry in more than 100 years. Contemporary Amperex Technology Co., or CATL -- the world’s biggest battery maker -- has more than tripled in value since raising more than $800 million in its Shenzhen IPO in June, as investor cash gravitates toward the industry. BYD and CATL are China’s key makers of power packs for electric vehicles and are emerging as challengers to Tesla Inc. suppliers Panasonic Corp. and LG Chem Ltd.
Surging demand from automakers is transforming the lithium-ion battery business, with more power packs expected to be installed in electric vehicles this year than in consumer electronics, according to Bloomberg NEF. The market value of batteries used in electric cars, electric buses and related energy storage should multiply by about 10 times to a potential $500 billion by 2050, according to Sanford C. Bernstein & Co.
Wang, the billionaire founder of BYD, said China’s land transport can become fully electrified by 2030. He said he recently proposed to the government that it electrifies all buses by 2020, taxis by 2021, logistics vehicles by 2025 and private cars by 2030. If that happens, he estimates the country needs to boost battery-manufacturing capacity by about ten-fold to 1000GwH a year.
The company, which has been self-sufficient in making batteries for its own vehicles, started discussions last year with other carmakers for contracts, Michael He, vice president of the battery business, said in an interview.
Buffett’s Berkshire Hathaway Inc. is the largest shareholder in the Hong Kong-traded stock of BYD, with a 24.59 percent stake. Buffett made the bet two years before Tesla listed in New York.
BYD is working on a plan to build vehicle-battery factories in both Europe and the U.S. In Europe, the company is looking at possible locations in the U.K. and Germany, He said. The company is also talking to potential domestic and foreign investors for fundraising ahead of the IPO, He said without elaborating.
BYD is close to securing an order for a fleet of 2,000 electric vehicles to be used as taxis in Montreal, its biggest overseas contract for electric autos, according to people familiar with the matter. The company would deliver the cars in three years, with the first batch of 600 units handed over in 2019, said the people.
(Updates with Montreal taxi deal in last paragraph.)
To contact Bloomberg News staff for this story: Matthew Campbell in Shenzhen at mcampbell39@bloomberg.net;Tian Ying in Shenzhen at ytian@bloomberg.net
To contact the editors responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net, Ville Heiskanen
For more articles like this, please visit us at bloomberg.com
©2018 Bloomberg L.P.
https://finance.yahoo.com/news/warren-buffett-backed-electric-vehicle-061025752.html
Chilean Regulators Reject Albemarle's Plans to Boost Output!
SANTIAGO, Nov 13 (Reuters) - Chilean environmental regulators has rejected plans by Albemarle Corp, the world's top lithium producer, to expand output from the Salar de Atacama salt flat, according to filings with Chile's Environmental Assessment Service (SEA) viewed by Reuters.
SEA said in a resolution on Monday that Albemarle's environmental impact statement, which included plans to build a new plant to produce 42,500 tonnes of lithium carbonate in northern Chile, lacked key information to gauge the project's impact, prompting an "early termination" of its review.
The agency also said Albemarle failed to adequately consider threats to the Peruvian tern, an endangered species of bird that inhabits the region.
The U.S. mining giant did not immediately respond to a request for comment.
Albemarle filed the environmental impact statement (DIA) in September detailing plans to build the new plant near the northern Chilean coastal port of Mejillones as well as six new solar evaporation pools in the Salar de Atacama, which lies close to the border with Bolivia and Argentina.
Albemarle has said the upgrades would boost output without using more lithium-rich brine, or saltwater, from the environmentally sensitive salt flats.
The company has five days to appeal the decision, SEA said in its resolution.
Albemarle's expansion has been closely scrutinized by regulators in Chile who have increasingly cracked down on water use by both copper and lithium miners in the Salar de Atacama, which lies at the heart of the world's driest desert.
Plans by both Albemarle and top competitor SQM to expand production at the Salar de Atacama are deemed critical amid spiking demand for lithium, a key ingredient in batteries that power everything from cell phones to electric vehicles.
In September, Chile's nuclear commission, which oversees the sales and export of lithium in Chile, denied Albemarle's request to increase its production quota for the ultralight battery metal. The commission said Albemarle had failed to adequately explain how it would increase production without extracting more brine.
https://www.nasdaq.com/article/chilean-regulators-reject-albemarles-plans-to-boost-lithium-output-20181113-00616
Chile's Atacama Water Fight Questions Lithium Mining Future!
https://www.reuters.com/article/us-chile-lithium-insight/a-water-fight-in-chiles-atacama-raises-questions-over-lithium-mining-idUSKCN1MS1L8
https://www.streetwisereports.com/article/2018/10/17/wealth-minerals-prudently-albeit-slowly-advancing-in-chile.html
http://www.digitaljournal.com/news/world/chile-restricts-water-permits-in-lithium-rich-atacama-region/article/530657
Thank you very much! I really appreciate it!
Ok, not enthralling. History-teacher type gaze into abyss!
Outline-type rehash, lacking much voluntary emphasis toward any importance.
Reinforced negative perception/tap-dance via contingency vs cost-overrun.
Lots of funds allocated. All long lead items have finally been ordered.
Presentation wise, good news being the absence of bad news.
The favorable mine/market metrics remain firmly in place.
Sloppy time line references were somewhat ordered.
Webcast/replay:
https://globenewswire.com/news-release/2018/10/01/1588194/0/en/Nemaska-Lithium-Reschedules-Construction-Update-Webcast-Call.html
How was the webcast, did you participate? When I joined it was pretty much in the end of it.
Nemaska Lithium provides Construction Project Timeline & Webcast!
Highlights:
Project construction at both sites currently on track with timeline and budget
Concentrate production expected to start in H2 2019 with lithium salts production expected in H2 2020
$272.4M or 31% of the total project budget has been committed
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Guy Bourassa, President and CEO of Nemaska Lithium will be hosting an online conference call on Monday, October 1, 2018 at 11 am EDT. The webcast can be accessed at https://edge.media-server.com/m6/p/nerewhjs and the associated presentation will be available later today for download at https://www.nemaskalithium.com/en/investors/webcast-call/. Dial-in numbers are US/CANADA Participant Toll-Free Number: (866) 353-6129 or US/CANADA Participant International Number: (409) 217-8084. The participant access code is 4097457.
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COMPLETE PRESS RELEASE
https://www.nemaskalithium.com/en/investors/press-releases/2018/cc6ff94e-1c6a-49d3-b0b5-5b5995c020ce/
Highly oversold here according to R.S.I. chart technicals.
Construction schedule over the next two years determined!
QUEBEC CITY, Quebec, July 23, 2018 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX) (OTC:NMKEF) is very pleased to provide a project construction update and development timeline for its Whabouchi Mine and Electrochemical Plant in Shawinigan. Moving forward, Nemaska Lithium intends to issue progress reports in conjunction with its quarterly and annual financial reporting.
Guy Bourassa, President and CEO of Nemaska Lithium, commented, “With the project financing structure completed on May 30th, our project construction and planning are on schedule at both locations and construction activities are increasing week by week. I am pleased that we are progressing according to plan and that we are on track to start producing spodumene concentrate in the second half of 2019 with lithium salts production commencing in the last half of 2020. Our conversations with end users suggest the market for battery grade lithium hydroxide and lithium carbonate remains very tight. Accordingly, we signed with LG Chem earlier this month our fourth supply agreement and we are currently negotiating the final terms of a fifth agreement with Northvolt and that puts us at more than 90% of our future lithium hydroxide and lithium carbonate production already committed. Our offtake contracts are multi-year agreements with several lasting for a period of up to 5 years. We are also actively marketing the Company to new and existing institutional shareholders with recent meetings in Asia, United States, London, Europe and Canada from which we have had much positive feedback.”
Further to the recent completion of a CAD1.1B project financing package, the Corporation has resumed work at the Whabouchi mine, has initiated the purchases of long lead items for both sites and is preparing the Shawinigan site for civil engineering work this summer. To assist in project execution, Nemaska Lithium has already retained the services of several outside engineering and consulting groups:
The Procurement and Construction Management (PCM) team of Nemaska Lithium is supported by Nardella Group who is responsible to maintain budget control and schedule;
ABB is providing the electrical equipment and electrical engineering services for both sites;
DRA Met-Chem is assisting with the mine and concentrator engineering design;
SNC-Lavalin is retained for the design of the tailings and waste co-disposal site; and
Hatch Engineering is providing engineering design assistance for the electrochemical plant.
Whabouchi Mine Construction
The mine construction has resumed and has a 12 to 15 months schedule, with concentrate production expected to commence in the second half of 2019. Prior to the most recent project financing, about CAD80M had already been invested in the Whabouchi site construction and preparation. Since the completion of the CAD1.1B project financing package, the following has been initiated, is partially complete or completed:
Key positions including Mine Geologist, Maintenance Director, Human Resource Director, Metallurgist, Director of Operations for the Concentrator and Mining Engineer have been hired and are working on the readiness plan to ensure seamless hand off from the Construction Team to the Operations Team.
Long lead items including ore sorting, floatation columns, ball mill and dry magnetic separator have been ordered. Engineering is also preparing requests for information for bids and completing technical bid evaluations on other equipment.
Civil works have resumed at the mine site and on-site roads are being completed, administrative offices are installed and are fully operational with full-time staff working at the mine site location.
Civil engineering work is underway for crushing and ore sorting buildings as well as the garage. In addition, civil works on the internal construction of the concentrator building including foundations and structural steel installation continues.
The power line to the mine site from the Nemiscau sub-station has been installed. Installation of the transformer and electrical room is underway and hook up to the grid is pending Hydro-Québec availability, which is currently scheduled for August 2018.
Nemaska Lithium is working closely with the Cree School Board and Cree Human Resources Development Corporation and training for mining jobs is currently ongoing, ensuring a large portion of the mine employees can come from the nearby Cree Community of Nemaska, supporting local communities.
Three photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/2c3d8bd9-d9ad-48aa-acf3-22026364d96e
http://www.globenewswire.com/NewsRoom/AttachmentNg/211d1ec4-74db-418b-a0f4-03510a95797b
http://www.globenewswire.com/NewsRoom/AttachmentNg/42c33486-a5c6-4f47-9f5b-3d0097b1fa02
Electrochemical Plant Construction
The electrochemical plant has a 27 months construction schedule. Prior to the most recent project financing, close to CAD20M had already been invested for the Shawinigan site. To date, the following has been either initiated, partially completed or completed:
Civil works have commenced following the final demolition, by the former owner, of the obsolete buildings that were on the Nemaska Lithium property. With the demolition completed, civil engineering has started to prepare the building and site to receive equipment.
Detailed engineering is ongoing with several long lead items including the calciner, acid baking system, electrolyser, and crystallizer suppliers identified. Bids are expected to be awarded shortly for these priority items.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dde7fd0b-0d95-4dfd-8bec-a8086a66175b
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 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 expected unfolding of activities 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 fulfillment of all conditions precedent to effectively complete the remaining components of the project financing being the Streaming facility and the Bonds offering, such that all proceeds from the CAD1.1B financing package will be received the Corporation.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the 12 to 15 months mine construction schedule leading to the start of spodumene concentrate production in Q4 2019, (ii) the 27-month plant construction schedule leading to the start of lithium salts production in the last half of 2020, (iii) the market tightness for battery grade lithium hydroxide and lithium carbonate, (iv) the finalization of supply agreement with Northvolt, (v) the seamless transition from construction to operations, (vi) the Corporation’s future production of lithium hydroxide and lithium carbonate, (vii) the Corporation’s activities progressing in accordance to plan, (viii) the employment of a large portion of mine workforce coming from the Cree community of Nemaska, (ix) the award of bids shortly for priority items, 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 the Whabouchi mine will be brought to commercial 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 endeavors to complete its project financing and, more generally, its 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 5, 2017 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.
http://www.nemaskalithium.com/en/investors/press-releases/2018/2802287b-9e40-4c5e-9427-cce43b605983/
Updated progress for next 2 years!
QUEBEC CITY, Quebec, July 23, 2018 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX) (OTC:NMKEF) is very pleased to provide a project construction update and development timeline for its Whabouchi Mine and Electrochemical Plant in Shawinigan. Moving forward, Nemaska Lithium intends to issue progress reports in conjunction with its quarterly and annual financial reporting.
Guy Bourassa, President and CEO of Nemaska Lithium, commented, “With the project financing structure completed on May 30th, our project construction and planning are on schedule at both locations and construction activities are increasing week by week. I am pleased that we are progressing according to plan and that we are on track to start producing spodumene concentrate in the second half of 2019 with lithium salts production commencing in the last half of 2020. Our conversations with end users suggest the market for battery grade lithium hydroxide and lithium carbonate remains very tight. Accordingly, we signed with LG Chem earlier this month our fourth supply agreement and we are currently negotiating the final terms of a fifth agreement with Northvolt and that puts us at more than 90% of our future lithium hydroxide and lithium carbonate production already committed. Our offtake contracts are multi-year agreements with several lasting for a period of up to 5 years. We are also actively marketing the Company to new and existing institutional shareholders with recent meetings in Asia, United States, London, Europe and Canada from which we have had much positive feedback.”
Further to the recent completion of a CAD1.1B project financing package, the Corporation has resumed work at the Whabouchi mine, has initiated the purchases of long lead items for both sites and is preparing the Shawinigan site for civil engineering work this summer. To assist in project execution, Nemaska Lithium has already retained the services of several outside engineering and consulting groups:
The Procurement and Construction Management (PCM) team of Nemaska Lithium is supported by Nardella Group who is responsible to maintain budget control and schedule;
ABB is providing the electrical equipment and electrical engineering services for both sites;
DRA Met-Chem is assisting with the mine and concentrator engineering design;
SNC-Lavalin is retained for the design of the tailings and waste co-disposal site; and
Hatch Engineering is providing engineering design assistance for the electrochemical plant.
Whabouchi Mine Construction
The mine construction has resumed and has a 12 to 15 months schedule, with concentrate production expected to commence in the second half of 2019. Prior to the most recent project financing, about CAD80M had already been invested in the Whabouchi site construction and preparation. Since the completion of the CAD1.1B project financing package, the following has been initiated, is partially complete or completed:
Key positions including Mine Geologist, Maintenance Director, Human Resource Director, Metallurgist, Director of Operations for the Concentrator and Mining Engineer have been hired and are working on the readiness plan to ensure seamless hand off from the Construction Team to the Operations Team.
Long lead items including ore sorting, floatation columns, ball mill and dry magnetic separator have been ordered. Engineering is also preparing requests for information for bids and completing technical bid evaluations on other equipment.
Civil works have resumed at the mine site and on-site roads are being completed, administrative offices are installed and are fully operational with full-time staff working at the mine site location.
Civil engineering work is underway for crushing and ore sorting buildings as well as the garage. In addition, civil works on the internal construction of the concentrator building including foundations and structural steel installation continues.
The power line to the mine site from the Nemiscau sub-station has been installed. Installation of the transformer and electrical room is underway and hook up to the grid is pending Hydro-Québec availability, which is currently scheduled for August 2018.
Nemaska Lithium is working closely with the Cree School Board and Cree Human Resources Development Corporation and training for mining jobs is currently ongoing, ensuring a large portion of the mine employees can come from the nearby Cree Community of Nemaska, supporting local communities.
Three photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/2c3d8bd9-d9ad-48aa-acf3-22026364d96e
http://www.globenewswire.com/NewsRoom/AttachmentNg/211d1ec4-74db-418b-a0f4-03510a95797b
http://www.globenewswire.com/NewsRoom/AttachmentNg/42c33486-a5c6-4f47-9f5b-3d0097b1fa02
Electrochemical Plant Construction
The electrochemical plant has a 27 months construction schedule. Prior to the most recent project financing, close to CAD20M had already been invested for the Shawinigan site. To date, the following has been either initiated, partially completed or completed:
Civil works have commenced following the final demolition, by the former owner, of the obsolete buildings that were on the Nemaska Lithium property. With the demolition completed, civil engineering has started to prepare the building and site to receive equipment.
Detailed engineering is ongoing with several long lead items including the calciner, acid baking system, electrolyser, and crystallizer suppliers identified. Bids are expected to be awarded shortly for these priority items.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dde7fd0b-0d95-4dfd-8bec-a8086a66175b
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 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 expected unfolding of activities 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 fulfillment of all conditions precedent to effectively complete the remaining components of the project financing being the Streaming facility and the Bonds offering, such that all proceeds from the CAD1.1B financing package will be received the Corporation.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the 12 to 15 months mine construction schedule leading to the start of spodumene concentrate production in Q4 2019, (ii) the 27-month plant construction schedule leading to the start of lithium salts production in the last half of 2020, (iii) the market tightness for battery grade lithium hydroxide and lithium carbonate, (iv) the finalization of supply agreement with Northvolt, (v) the seamless transition from construction to operations, (vi) the Corporation’s future production of lithium hydroxide and lithium carbonate, (vii) the Corporation’s activities progressing in accordance to plan, (viii) the employment of a large portion of mine workforce coming from the Cree community of Nemaska, (ix) the award of bids shortly for priority items, 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 the Whabouchi mine will be brought to commercial 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 endeavors to complete its project financing and, more generally, its 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 5, 2017 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.
Due Diligence For New Investors
LG Chem and Nemaska Lithium Announce Signature of An Initial 5-Year Supply Agreement for Lithium Hydroxide.
https://www.greentechmedia.com/articles/read/volkswagen-25-billion-battery-purchase-electric-vehicles#gs.q2XGa74
VW Invests $100M in QuantumScape, a Battery-Building Unicorn
https://www.greentechmedia.com/articles/read/wv-quantumscape-investment#gs.3R5gMhs
Lithium PRICE is up $$
Lithium DEMAND UP $$
Lithium SUPPLY low $$$$$$$$$$
NMX To Outperform According To Globe
Globe says new coverage rates Nemaska "outperform"
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aNMX-2626409&symbol=NMX®ion=C
2018-06-25 08:04 ET - In the NewsThe Globe and Mail reports in its Saturday, June 23, edition that BMO Nesbitt Burns analyst Joel Jackson began coverage of Nemaska Lithium (92 cents) with an "outperform" rating. The Globe's David Leeder writes in the Eye On Equities column that Mr. Jackson targets the shares at $1.50. Analysts on average target the shares at $2. Mr. Jackson says in a note: "Despite concerns over mid-term lithium prices, the risk/reward on lithium developer Nemaska is compelling considering prospects for NMX's innovative conversion process. Nemaska's potential position at the low end of the lithium hydroxide cost curve could provide insulation from industry pressures if NMX delivers on expected hydroxide costs at US$3k/t versus incumbents at US$5-8k/t. This could result in $3 upside." The Globe's Ian McGugan was upbeat on the outlook for lithium and Nemaska on Dec. 12, 2017. The shares could then be had for $2.24.
https://seekingalpha.com/article/4158808-nemaska-lithium-potential-upside-financing-take-partner
Nemaska Lithium - Potential Upside On Financing And Off-Take Partner
Mar. 26, 2018 6:16 AM ET | 9 comments | About: Nemaska Lithium, Inc. (NMKEF), Includes: FMC, LAC, OROCF, SQM
Livio Filice
Long-term horizon, Growth, momentum, Deep Value
(1,738 followers)
Summary
Advanced stage exploration companies continue to be a key theme within the lithium investment market.
New global lithium supply has remain muted while demand continues to edge higher on electric vehicle and stationary energy storage demands.
Nemaska Lithium remains an attractive investment opportunity, as they are well positioned to bring new supply online in the next years.
The company has a solid operational and technical plan backed by a strong resource.
Overview of the company's position ahead of financial decision announcement and additional off-take partnerships.
In 2017, one of the key themes for the lithium industry concerned Asian investment throughout the supply chain. Asian battery manufacturers moved to continue building out battery manufacturing capacity to support the rapidly growing electric vehicle market in China, which is being commanded by government mandates to increase electric vehicle output. This news rattled the already-fragmented lithium supply industry, sending lithium carbonate pricing from $5,500 T LCE in 2015 to $13,00 T LCE by the end of 2017, and to over $15,00 T LCE in Q1 2018 (see chart below). Rising prices of lithium chemicals created a ripple effect for battery manufacturers and end-users of the white metal who are highly exposed to the vulnerable supply chain. The outcome was a tidal wave of investment from Asian companies into advanced lithium exploration companies and producers.
Another outcome of the recent events has been the deployment of investment capital to support exploration activities in prolific lithium regions of the world, including Argentina. In 2016, as the lithium industry gained momentum, a large number of juniors raised seed capital and flocked to Argentina with the hope of securing land packages. A sizable number of land package transactions took place throughout 2016 and into 2017. Companies such as Lithium Americas (LAC) and Orocobre (OTCPK:OROCF), which already have been active in Argentina for a number of years, locked up some of the best assets available in the market. Latecomers to the industry are now forced to pay higher prices for second-class projects. This is occurring at a time when the largest global lithium producer, SQM (SQM), has announced its intentions to dramatically increase lithium output by 2025. I advise investors not to take the SQM update at face value. Instead, focus on the demand landscape, which regardless of SQM requires a number of new companies to move into production over the next five years along with existing asset expansion
Here is a link to some interesting Videos from Nemaska
https://www.emploiscompetences.com/en/major-clients/nemaskalithium/
Nemaska and LG Chem Announce 5-Year Supply Agreement!
QUÉBEC City, July 03, 2018 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX) (OTC:NMKEF) and LG Chem, Ltd. (“LG”) are pleased to announce the signature of an agreement providing for the supply of battery grade lithium hydroxide by the Corporation to LG.
“We are pleased with this first step towards establishing a long-term commercial relationship between LG and Nemaska Lithium. The signing of this agreement is a clear vote of confidence by LG in our business plan and our capacity to be a long-term supplier of lithium hydroxide”, said Guy Bourassa, President & Chief Executive Officer of Nemaska Lithium.
Under this agreement, Nemaska Lithium agrees to supply LG, on a take-or-pay basis and through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., with 7,000 tonnes per year of lithium hydroxide produced at the Corporation’s commercial plant in Shawinigan, for an initial 5-year period scheduled to start in October 2020. Nemaska Lithium is entitled, if ever necessary, to reschedule the commencement of the supply period, within certain parameters set out in the agreement and based on the anticipated commissioning, ramping up and production start date for the Shawinigan plant.
With this additional off-take agreement and taking into account the right of first offer granted to SoftBank Group to purchase up to 20% of production, Nemaska Lithium has now committed or has agreement in principle in place for over 90% of its anticipated 33,000 tonnes/y LCE capacity.
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 www.nemaskalithium.com or twitter.com/Nemaska Lithium.
About LG Chem
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The company was founded in 1947 and now employs over 29,000 staff globally. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and lithium-ion batteries. With over 20 years’ experience of development and production of these batteries, LG Chem has established itself as one of the world’s leading lithium-ion manufacturers. The company is a primary supplier of lithium batteries throughout the world for the mobile phone and hybrid/electric vehicle industries & Energy Storage System (ESS). For further information about LG Chem, visit http://www.lgchem.com/global/main.
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 supply by the Corporation to LG of 7,000 metric tonnes per year of battery grade lithium hydroxide, 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 commissioning, ramping up and production of the Shawinigan plant.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the start of supply, in October 2020, of 7,000 tonnes per year of lithium hydroxide by the Corporation to LG, (ii) the possible rescheduling of the commencement of the supply period, (iii) the establishment of a long-term commercial relationship between LG and the Corporation, (iv) the 33,000 tonnes/y capacity at the Shawinigan plant, and (v) 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 Shawinigan Plant will be brought to commercial production, as results from the Corporation’s project financing endeavors, as well 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 5, 2017 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.
RSi extremely under, reversal is going to be epic for those buying, GLTA ! $$
Highly oversold here, time to move up to higher levels from this point on
Shorters gonna get burned at these levels, gonna be fun to watch this blast off !!
Flurry of Supply Deals as World Scrambles for Tomorrow’s Lithium
A flurry of activity between producers and buyers is underway to lock down supply agreements for years to come. While Chinese buyers are leading the way with deals all over the world, North American buyers including Elon Musk’s Tesla Motors are also securing all that they can as the world prepares for the electric vehicle (EV) revolution.
These deals are happening earlier and earlier in the process as well, with Tesla’s latest deal being signed with a plant that’s not even built yet. The same goes for Chinese lithium buyer, General Lithium Corp., which is now signed on to buy supplies from a future Canadian mine that’s not expected to generate revenue until Q4 of 2019.
The winners in all this are the lithium producers, both present and future. These are based all over the world, including Australian miners Kidman Resources Limited (OTC: KDDRF), Pilbara Minerals Limited (OTC: PILBF), Chile’s Sociedad Quimica y Minera de Chile (NYSE: SQM), and Canadian miners Nemaska Lithium (OTC: NMKEF) (TSX: NMX) and QMC Quantum Minerals Corp. (TSX.V: QMC) (OTC: QMCQF).
A lithium supply gap is forcing buyers to aggressively jockey for position on global supplies as they roll off the production line. While this war for supplies heats up, the buyers must also be keeping tomorrow’s lithium mines and the miners on their radar.
These include the Mount Holland lithium JV project of Kidman Resources and SQM in Western Australia, and the Whabouchi Mine in Quebec, Canada, owned by Nemaska Lithium. Both of these mines are yet to be built, however, the bulk (if not all) of their supplies are already spoken for.
Calls are flooding other miners who are set to produce soon, like Pilbara Minerals on its Pilgangoora lithium-tantalum project—Despite the fact that the first stage is already 100% signed away to buyers General Lithium, and Ganfeng Lithium. Hence, the market is now looking towards which project is next in line to get a dance partner.
One junior that’s possibly moving closer to its own production in the years to come is QMC Quantum Minerals Corp. Bolstered by its 100%-owned Irgon Mine flagship project in mining friendly Manitoba, Canada, QMC controls what could be another lithium massive resource. Now they’ve assembled a technical team tasked with bringing the previously historic non-compliant resource into compliance, and to significantly expand Irgon’s size and potential.
Supply deals are being signed seemingly everywhere, as the market for lithium is showing no signs of slowing down. In order to meet the demand, new projects must continue to develop into production. With buyers getting out ahead of their competitors earlier and earlier, the financing for these new projects will likely become smoother, faster, and more prevalent.
LUCRATIVE LITHIUM SUPPLIERS: PRESENT AND FUTURE
Kidman Resources Limited (OTC: KDDRF)
The Australian miner made international headlines as it signed a three-year lithium supply deal with arguably the world’s most famous EV manufacturer, Elon Musk’s Tesla Motors. The fixed-price deal is set to commence once Kidman’s project in Western Australia begins production. The Mount Holland hardrock lithium project in western Australia is a joint venture with Chile’s SQM, the world’s second-largest lithium producer. Kidman is also building a refinery to process its lithium into battery-grade material, which is expected to commence construction in 2021.
Sociedad Quimica y Minera de Chile (NYSE: SQM)
Set inside the Kwinana Strategic Industrial area, south of Perth, SQM and Kidman’s JV refinery is set to be commissioned in 2021. The project has an initial annual nameplate capacity of 44,000 tonnes of lithium hydroxide or 37,000 tonnes of lithium carbonate. While Kidman recently signed its supply deal with Tesla, SQM has also been working on its own deals back in its home base of Chile. Midway through May, SQM received more than $4 billion for selling a sizeable stake of itself to China-based Tianqi Lithium.
Pilbara Minerals Limited (OTC: PILBF)
Now that it’s on the cusp of commissioning its Pilgangoora lithium-tantalum project, Pilbara is already being inundated with requests for lithium supply, according to company boss Ken Brinsden. Already, 100% of the expected 300,000-350,000 tonnes per annum of spodumene is committed under offtake deals with General Lithium and Ganfeng Lithium. However, there’s still a possible stage 2 expansion on deck, should Pilbara approve a final investment decision valued at over US$155 million in July. Ganfeng, Great Wall Motors and POSCO have options over all of the planned stage 2 production of 500,000-550,000 tonnes per annum as well. As things stand for the next few years, Pilbara is sold out.
Nemaska Lithium (OTC: NMKEF) (TSX: NMX)
Much like Pilbara, Canada’s Nemaska Lithium now has its own lithium supply agreement with General Lithium Corp. Based in the province of Quebec, Nemaska’s Whabouchi Mine will supply a significant quantity of spodumene concentrate on a take-or-pay basis at a market priced-based formula, at the time of delivery. The supply period is set to commence after the construction of the Whabouchi Mine and continue up to the full ramp-up of an electrochemical plant in Shawinigan, Quebec. Nemaska expects the spodumene concentrate sales to generate revenue by the last quarter of 2019.
QMC Quantum Minerals Corp. (TSX.V: QMC) (OTC: QMCQF)
While at a much earlier stage of development compared to Nemaska, QMC Quantum Minerals is making significant strides on its 100%-owned Irgon Lithium Mine Project in Manitoba. QMC recently reported it had engaged SGS Canada to provide technical support and consulting services to help carry out the company’s 2018 field exploration and drilling program. As well, SGS will use the data acquired through the 2018 exploration program to compile a NI 43-101 compliant technical report to confirm and potentially increase the previously non-compliant historical resource of 1.2 million tonnes at 1.51% Li2O. With a potentially massive resource in play, QMC could be the next Canadian lithium supplier.
MANITOBA’S MILLIONS OF MINING TONNES
With the possibility of a resource that could have significantly more than 1.2 million tonnes at 1.51% Li2O, QMC Quantum Minerals Corp. (TSX.V: QMC) (OTC: QMCQF) is getting closer to a major mining event in Manitoba. Having uncovered a long forgotten treasure in the Irgon Dike, QMC aims to capitalize on the significant increase in prices for today’s lithium versus when the discovery was first made.
Earlier in May, QMC disseminated historical assay results that were obtained during a 1956 channel sampling of the Irgon Dike where it is exposed underground in crosscuts on the 200-foot level. The company released a 3-D model, which demonstrates that, to date, exploration and underground development has been only undertaken on the upper and central portions of dike leaving significant potential to quickly increase tonnage, as the Irgon Dike is open both along strike and to depth.
The project was originally worked on by the Lithium Corporation of Canada in the 1950s, and now is finally getting an effective work program. With modern analysis, the potential for the project is far more massive than it was given credit for over 60 years ago. On site, a complete mining plant was previously installed, designed to process 500 tons of ore per day, and a three-compartment shaft was sunk to a depth of 74 meters. When work on the operation was suspended in 1957, the market for lithium oxides wasn’t favourable. However, with today’s prices (and the subsequent mad rush for supply and offtake agreements), the rebooting of the Irgon Mine project is not only sensible, but seemingly inevitable.
Disclaimer
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Source: https://www.baystreet.ca/articles/stockstowatch/39331/Flurry-of-Supply-Deals-as-World-Scrambles-for-Tomorrows-Lithium
Nemaska Lithium Completes Financing Package!
http://www.nemaskalithium.com/en/investors/press-releases/2018/7bcd4b2f-3617-481e-b7e8-a5093089cf0d/
Management played for fools... Now build the mine!
Once back in their lane, the stumbling and bumbling should end.
Nemaska Lithium secures funding for mine!
https://www.reuters.com/article/us-nemaska-lithium-fundraising/nemaska-lithium-secures-funding-for-mine-with-c400-million-equity-raise-idUSKCN1IN35C
Funding package progress continues to move forward!
http://www.nemaskalithium.com/en/investors/press-releases/2018/c1e9d87d-1359-430a-a2ca-3d26182cd939/
Agreement in Principle for Supply of Lithium Hydroxide!
QUEBEC, QUEBEC -- (Marketwired) -- 04/27/18 -- Nemaska Lithium Inc.
("Nemaska Lithium" or the "Corporation") (TSX:NMX) (OTC:NMKEF) and
Northvolt AB ("Northvolt") are pleased to announce the signature of
an agreement in principle providing for the supply by the Corporation
to Northvolt of battery grade lithium hydroxide.
Under this agreement in principle, Nemaska Lithium agreed to supply,
through its wholly-owned subsidiary Nemaska Lithium Shawinigan
Transformation Inc., and Northvolt agreed to purchase, on a
take-or-pay basis, up to 5,000 but not less than 3,500 metric tonnes
per year of lithium hydroxide produced at the Corporation's
commercial plant in Shawinigan, for a 5-year supply period commencing
upon the start of commercial production at both the Shawinigan Plant
and Northvolt's projected Skelleftea factory in Sweden (the "N
Factory").
In connection with this supply of lithium hydroxide, Northvolt has
agreed to deliver to the Corporation a EUR 10M promissory note which,
at the Corporation's option, can be converted into voting shares of
Northvolt in connection with the N Factory funding, or redeemed at
cost plus an agreed-upon interest rate.
"We are pleased with this first step in establishing a strategic
partnership between Northvolt and Nemaska, as we both share the same
vision and values of facilitating access to green energy for the
benefit of humanity and pushing the boundaries to do so", declared
Guy Bourassa, President & Chief Executive Officer of Nemaska Lithium.
The supply of lithium hydroxide and the issue of the promissory note,
as contemplated, are subject to the conclusion of a mutually
satisfactory definitive supply agreement and to the prior approval of
the board of directors of both parties.
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 Quebec,
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 www.nemaskalithium.com or
www.twitter.com/Nemaska_Lithium.
About Northvolt
Northvolt was founded in 2016 with the mission to build the world's
greenest battery, with a minimal carbon footprint and the highest
ambitions for recycling, to enable the European transition to
renewable energy. Northvolt's team of experts is building the next
generation battery factory focused on process innovation, scale and
vertical integration. Once completed, it will be Europe's largest
battery factory and will produce 32 GWh worth of battery capacity
annually. For more information, please visit www.northvolt.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 the supply by the Corporation to Northvolt of 3,500 to 5,000
metric tonnes per year of battery grade lithium hydroxide and to the
establishment of a strategic partnership between the Corporation and
Northvolt, 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,
(a) the start of commercial production at both the Shawinigan Plant
and Northvolt's projected Skelleftea factory in Sweden and (b) the
conclusion of a mutually satisfactory definitive supply agreement.
Forward-looking statements contained in this press release include,
without limitation, those related to (i) the delivery of a promissory
note to the Corporation and its conversion into Northvolt shares or
redemption at cost plus interest, (ii) the prior approval of a
definitive supply agreement by the board of directors of the
Corporation and of Northvolt, and (iii) generally, the above "About
Nemaska Lithium" paragraph which essentially describes the
Corporation's outlook (as well as the corresponding "About Northvolt"
paragraph). 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 Shawinigan Plant and
Northvolt's projected Skelleftea factory in Sweden will be brought to
commercial production, as results from the Corporation's project
financing endeavors and those of Northvolt, as well as future events
could differ materially what is currently anticipated by the
Corporation and Northvolt.
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 endeavors to
complete its project financing and, more generally, its 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 5, 2017 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.
Contacts:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
Fanny-Eve Tapp
Media Relations
B. 514 935 2777 # 204
C. 514 442 0445
fanny-eve.tapp@nemaskalithium.com
www.nemaskalithium.com
Nemaska Concludes USD 150M Streaming Agreement with Orion!
http://www.nemaskalithium.com/en/investors/press-releases/2018/f944ecce-8039-4c9b-a343-4a871ff7a6c3/
Nemaska/Soft Bank Deal values Nemaska at $M554.4
Correction to my previousl reply. Nemaska value 5X1.12X$M99= CND $M554.4
Nemaska/Softbank Deal.
Softbank has locked in 9.9% ownership and 20% of the Lithium production for 99M shares at CND $1.12. Funds being held in escrow until the additional funds are raised. Why would anyone invest in Nemaska for more than CND $1.12? This makes Nemaska's value 4X1.12XM99 = CND M$443.52? Can anyone explain to me how this make any sense?
SoftBank Group to Make Strategic Investment in Nemaska Lithium
QUEBEC CITY, QUEBEC -- (Marketwired) -- 04/05/18 -- Nemaska Lithium
Inc. ("Nemaska Lithium" or the "Corporation") (TSX: NMX)(OTCQX:
NMKEF)(FRANKFURT: N0T) is pleased to provide further details on its
project financing plans and to announce that it has entered into an
investment agreement (the "Investment Agreement") with SoftBank Group
Corp. ("SoftBank") for a private placement (the "Placement") of
common share subscription receipts (the "Receipts") at a price of CAD
1.12 per Receipt for aggregate gross proceeds of up to CAD
99,075,000.
The Corporation's March 28, 2018 press release outlined its overall
project financing plans to raise between USD 775M and USD 825M to
fund the construction and commissioning of its Whabouchi Mine and
Shawinigan Plant project and for general working capital (the
"Project Financing"). The Placement proceeds will therefore be an
important component of the equity portion of the Project Financing as
the Corporation continues to work on various complementary financing
alternatives, including a USD 300-350M debt financing and a USD 150M
streaming facility for which the Corporation expects to provide
further details in the short-term, both combined with additional
private and/or public equity offerings. Under the Investment
Agreement, SoftBank will acquire up to 9.9% of Nemaska Lithium's
outstanding common shares ("Shares") after giving effect to the
consummation of the Project Financing.
"Upon the completion of this transaction, SoftBank will be a new
esteemed shareholder and customer for Nemaska Lithium and we are very
pleased to welcome its team to our shareholder base and eventually
welcome its nominee to our Board," said Guy Bourassa, President and
CEO of Nemaska Lithium. "As a global technology pioneer and leader,
SoftBank's culture of innovation melds very well with our own
corporate values and is a clear endorsement of our approach to
producing environmentally friendly, low-cost lithium compounds."
"This investment in Nemaska is of monumental importance to the
SoftBank Group's strategy," said Masayoshi Son, Chairman & CEO of
SoftBank Group Corp. "We are extremely pleased to be further
accelerating the Mobile Revolution, an era of IoT (Internet of
Things) and electric vehicles enabled by the fusion of technology and
energy storage."
Completion of the Placement is subject to customary escrow release
conditions for this type of transaction, including approval of the
Toronto Stock Exchange. The closing of the Placement is expected to
occur on or about 10 days following the announcement thereof.
The gross proceeds from the Placement will be held in escrow and,
once the escrow release conditions will be satisfied or waived (which
include raising additional equity, concluding the streaming facility
agreement and securing debt financing commitments), each Receipt
shall be automatically converted into one (1) Share and the net
proceeds of the Placement will be released to the Corporation. If the
escrow release conditions have not been satisfied or waived by August
6, 2018, the Receipts will be automatically cancelled and funds will
revert to SoftBank.
If, after giving effect to the Placement, SoftBank holds less than
9.9% of the Shares then outstanding, it will be entitled to purchase
additional Shares upon the same terms as the equity offerings forming
part of the Project Financing to maintain its shareholdings up to
9.9% of the outstanding Shares. If, after giving effect to the
Placement and consummation of the remaining equity portion of the
Project Financing, SoftBank would hold more than 9.9% of the Shares
outstanding on the escrow release date, the Receipts that would
result in such excess will be cancelled such that SoftBank will hold
no more than 9.9% of the Shares outstanding at such time (and the
corresponding proceeds will revert to SoftBank).
Upon release of the Placement proceeds to the Corporation and for so
long as SoftBank holds at least 5% of the outstanding Shares, an
agreement providing SoftBank with a right of first offer to purchase
up to 20% of the lithium hydroxide and lithium carbonate produced at
the Shawinigan Plant from the spodumene concentrate coming from the
Whabouchi Mine, will be effective and all purchases will be at
pre-agreed discounts applicable to a pre-determined market
price-based formula. SoftBank will also be entitled to one nominee as
director of Nemaska Lithium and has been granted a pre-emptive right
to participate in any further equity offering as long as it holds at
least 5% of the Shares then outstanding.
SoftBank has agreed to customary standstill and support covenants and
to either vote its Shares in favour of the slate of directors
proposed to be elected by the Corporation or abstain from voting its
Shares with respect to such matter; provided, however, that in no
circumstances may SoftBank withhold any votes attached to any Shares
with respect to such matter until the earlier of (a) September 1,
2020 and (b) the commencement of commercial production at the
Whabouchi Mine and the Shawinigan Plant.
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 Quebec,
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.
About SoftBank Group Corp.
The SoftBank Group is a global technology player that aspires to
drive the Information Revolution. The SoftBank Group is comprised of
the holding company SoftBank Group Corp. (TOKYO: 9984) and its global
portfolio of companies, which includes advanced telecommunications,
internet services, AI, smart robotics, IoT and clean energy
technology providers. In September 2016, Arm Holdings plc, the
world's leading semiconductor IP company, joined the SoftBank Group.
In May 2017, the SoftBank Vision Fund, which invests globally in the
businesses and technologies that will enable the next stage of the
Information Revolution, had its first major close with over USD 93
billion in committed capital. To learn more, please visit
www.softbank.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 the closing of the Placement and fulfillment of the escrow release
conditions of the Receipts as well as the completion of the Project
Financing (or any portion thereof) in general, 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 satisfaction, in a
timely manner, by the Corporation of conditions precedent to (a) the
release of the Placement proceeds from escrow and (b) the closing of
each Project Financing component, including regulatory (and TSX)
approval, the receipt by the Corporation of proceeds from the
Placement and from all other components of the Project Financing, and
the Corporation having raised a sufficient amount under the Project
Financing to bring the Whabouchi Mine and the Shawinigan Plant to
commercial production.
Forward-looking statements contained in this press release include,
without limitation, those related to (i) the Placement proceeds being
an important component of the Project Financing's equity portion,
(ii) the equity financing being complemented by a streaming facility,
debt financing and additional private and/or public equity offerings,
(iii) SoftBank's becoming a new Nemaska Lithium shareholder and its
compliance with the Investment Agreement's standstill and supporting
provisions, (iv) the melding of SoftBank's culture with the
Corporation's corporate values, (v) the Corporation providing further
details of the Project Financing in the short-term, (vi) the
completion of any purchases of lithium products by SoftBank, (vii)
SoftBank's exercise of its pre-emptive right to participate in any
further equity offering, (viii) the closing of the Placement to occur
on or about 10 days following the announcement thereof, and (ix)
generally, the above "About Nemaska Lithium" paragraph which
essentially describe 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 a comprehensive USD 775M
to USD 825M Project and general corporate working capital financing
package will be put in place and that any component of the financing
transactions will be completed, as the next steps and, eventually,
the actual results of financing endeavors, in particular as regards
the debt financing and the equity offerings, and future events could
differ materially from those anticipated in such statements.
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 endeavors to
complete its project financing and, more generally, its 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 5, 2017 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.
Contacts:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
Fanny-Eve Tapp
Media Relations
B. 514 935 2777 # 204
C. 514 442 0445
fanny-eve.tapp@nemaskalithium.com
www.nemaskalithium.com
Volkswagen locks down $25B in battery supplies!
Darrell Etherington,TechCrunch
Automaker Volkswagen's ramping up for its big EV push, with $25 billion in committed battery supplies and plans to outfit 16 factories to build electric cars by the end of 2022, up from three with that capacity in the VW stable right now.
Thus far, Volkswagen's focus is on battery suppliers in Europe and China, its two largest markets, and likely the two that will be most important for battery electric vehicle production for the next decade. The automaker still intends to lock down a North American battery supplier deal shortly, however, according to Bloomberg, and ultimately intends to buy about $60 billion in batteries for EVs in total, with a goal of producing as many as 3 million electric cars per year by 2025.
Volkswagen is gearing up to launch its MEB platform, which will prove the base of its I.D. line of electric cars, as well as the underpinning of electric models from other brands in the larger Volkswagen Group. The MEB platform is designed to be relatively fixed in its configuration, so that it can be produced at scale affordably with little customization model to model, but also allowing for designs ranging from light compacts, to sedans and SUVs to be built on top.
Annual general/special shareholder meeting soon; February 16, 10:00am!
Very interesting times ahead...
http://www.nemaskalithium.com/en/investors/press-releases/2017/7e00bce0-0892-4b0b-9573-1e63099bb512/
Results of 2018 Feasibility Study!
http://www.nemaskalithium.com/en/investors/press-releases/2018/2383c40c-3570-49e0-86f5-9df5112a253c/
Another 2 tons battery grade lithium hydroxide produced!
http://www.nemaskalithium.com/en/investors/press-releases/2018/f4d48227-0f13-426c-ac56-e3259c516dd5/
Delivery of Whabouchi Battery Grade Lithium Hydroxide Confirmed!
QUÉBEC CITY, QUÉBEC--(Marketwired - Dec. 4, 2017) - Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTCQX:NMKEF)(FRANKFURT:N0T) is pleased to announce that it has produced 1.5 tonnes of battery grade lithium hydroxide, made from Whabouchi spodumene concentrate. Independent laboratory analyses confirm that the lithium hydroxide produced from its Phase 1 Plant in Shawinigan meets the specifications of cathode manufacturers globally. The lithium hydroxide is ready for delivery and is scheduled to be shipped today to a cathode manufacturer in Québec. Production of lithium hydroxide from Whabouchi mine concentrate is ongoing at the Phase 1 Plant and additional deliveries of lithium hydroxide will occur on a regular basis over the next months.
The lithium hydroxide was derived from a 6.3% Li2O spodumene concentrate that was produced from a bulk sample taken from the Whabouchi Mine during 2017. Approximately 1,100 tonnes of concentrate were produced (see August 14, 2017 press release). This concentrate will be converted during the coming months into lithium hydroxide samples for customers globally to begin qualifying Nemaska Lithium's products.
"This is the first time a new entrant to the market has produced battery grade lithium hydroxide from ore to final product," commented Guy Bourassa, President and CEO of Nemaska Lithium. "We are very pleased with the purity level of the lithium hydroxide produced to date, and have verified that our product is at least of the same quality as lithium hydroxide currently sold to cathode manufacturers around the world. This is a major step forward for Nemaska Lithium as it confirms the quality of its product as well as the robustness of its electrochemical process."
Bourassa continued, "I would also like to thank the Nemaska Lithium team members for all their efforts, allowing for the achievement of this significant milestone in the Corporation's history. Their efforts in building, commissioning and running the Phase 1 Plant have paid off and I am very proud of the team and the result of their work."
About Nemaska Lithium
Nemaska Lithium's vision is to "Facilitate access to green energy through its products and processes, for the benefit of humanity". It intends to become a lithium hydroxide and carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, energy storage, cell phones, tablets and other consumer products. The Corporation is developing in Quebec, Canada, one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which the Corporation holds nine issued patents and several patent applications that are pending in different countries, covering different aspects and improvements of its proprietary technology for producing high purity lithium hydroxide and carbonate, in an eco-friendly fashion.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, any information as to future deliveries of lithium hydroxide originating from Whabouchi spodumene concentrate on a regular basis, 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 date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the use of spodumene concentrate to produce lithium hydroxide during the coming months, (ii) the delivery of lithium hydroxide samples to customers globally, (iii) the qualification of Nemaska Lithium's products during the coming months, and (iv) generally, the above "About Nemaska Lithium" paragraph which essentially describe the Corporation's outlook. 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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. 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 5, 2017 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.
http://www.nemaskalithium.com/en/investors/press-releases/2017/add2abab-70a0-40c6-b6a8-b63866d5cf7c/
Phase 1 Plant Processes Whabouchi Mine Concentrate
QUÉBEC CITY, QUÉBEC--(Marketwired - Nov. 2, 2017) - Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTCQX:NMKEF) announced today an update on the lithium hydroxide production coming from its Phase 1 Plant.
Phase 1 Plant Thermal Roasting Commissioning
Nemaska Lithium has produced an inventory of lithium sulfate from spodumene concentrate coming from the Whabouchi Mine. The processing of this lithium sulfate into battery grade lithium hydroxide commenced last week at the Phase 1 Plant. The first tonne of this lithium hydroxide is expected to be shipped to a customer in November 2017. This milestone will mark the beginning of the qualification of Nemaska Lithium as a new supplier of lithium salts for the lithium ion battery market.
Lithium Hydroxide Production from Customer Lithium Sulfate
In addition, Nemaska Lithium has shipped another 4 tonnes of battery grade lithium hydroxide derived from a customer's lithium sulfate solution as the source of raw material. To date, Nemaska Lithium has produced and delivered 24 tonnes of battery grade lithium hydroxide for this customer who is using the lithium hydroxide in the production of cathodes for lithium ion batteries.
Guy Bourassa, President and CEO of Nemaska Lithium commented, "We have delivered 24 tonnes of battery grade lithium hydroxide coming from a customer's sulfate to date, which is an important technical achievement. To date, no other new comer to the market has produced battery grade lithium hydroxide. I am confident that we will deliver battery grade lithium hydroxide coming from our own ore to customers in the near term. The Phase 1 Plant is a small scale commercial plant which generates the quality of products we expect to produce once we have our commercial mine and processing facility up and running."
Nemaska Lithium has identified numerous potential clients which have requested lithium hydroxide and lithium carbonate samples from the Phase 1 Plant. Over the course of the next few months, Nemaska Lithium will continue processing spodumene concentrate to produce sufficient samples of lithium salts to send to potential clients who have asked to evaluate and qualify products.
Project Financing and Timeline
As stated in its press release of October 10, 2017, Nemaska Lithium is currently evaluating a number of financing alternatives for the project including debt (from private lenders as well as traditional large banks) and/or a strategic investment either at the Corporation or the project level.
"This is our top priority and we are weighing the merits of a number of options to determine the best path forward. Our timeline for this project remains the same, being 9 to 12 months for construction and commissioning of the mine and 18 months for construction and commissioning of the chemical plant once we have our project financing in place."
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which the Corporation holds nine issued patents and several patent applications that are pending in different countries, covering different aspects and improvements of its proprietary technology for preparing high purity lithium hydroxide and carbonate.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the shipping, in November 2017, of the first tonne of lithium hydroxide (from concentrate) to mark the beginning of the qualification of Nemaska Lithium as a new supplier of lithium salts, (ii) the expectation to eventually produce, at the commercial mine and processing facility, the same quality of products as that generated from the Phase 1 Plant, (iii) the production of sufficient samples of lithium salts to send to potential clients, (iv) the qualifying of the Corporation's products with customers, (v) the selection of the best financing scenario among a number of options, (vi) the timeline for the Corporation's project, being 9 to 12 months for construction and commissioning of the mine and 18 months for construction and commissioning of the chemical plant after having secured the project financing, and (vii) generally, the above "About Nemaska Lithium" paragraph which essentially describe 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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. 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.
http://www.nemaskalithium.com/en/investors/press-releases/2017/14df282d-f370-413c-b187-fd2d91fa25af/
Whabouchi Concentrate Processed / Project Financing Update
QUEBEC CITY, QUEBEC--(Marketwired - Oct. 10, 2017) - Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTCQX:NMKEF) announced today an update on the concentrate production, Phase 1 Plant operation and project financing.
Flotation Concentrate Results
Nemaska Lithium is pleased to announce that it has received flotation concentrate at an average grade of 6.3% Li2O. The flotation concentrate received originates from mineral fines (a more finely crushed material that is not suitable for DMS processing) that was processed by SGS Lakefield via a flotation circuit. In addition, Nemaska Lithium has produced a Dense Media Separation (DMS) concentrate at an average grade of 6.3% Li2O.
Phase 1 Plant Thermal Roasting Commissioning
Nemaska Lithium has started processing spodumene concentrate from the Whabouchi mine through the thermal roasting section (calcination and acid baking) of the Phase 1 Plant. It is expected to take about three to four weeks to build an inventory of lithium sulfate to begin processing into battery grade lithium hydroxide. Processing will follow once there is a sufficient working inventory.
Lithium Hydroxide Production from Customer Lithium Sulfate
To date, Nemaska Lithium has produced 20 tonnes of battery grade lithium hydroxide for a customer using the customer's lithium sulfate solution as the primary source of raw material. The customer has approved the quality of the lithium hydroxide received.
"I am very pleased with the concentrate results from both flotation and DMS processing. Our processes at both the mine site and the Hydromet plant are technically sound. At the Phase 1 Plant, the purification, electrolysis and crystallization sections of the plant are performing very well, as evidenced by the 20 tonnes of battery grade lithium hydroxide which has been produced using third party lithium sulphate and is of excellent quality as confirmed by our customer," said Guy Bourassa, President and CEO of Nemaska Lithium.
Bourassa continued, "We are starting the thermal treatment of the concentrate and this is taking extra time due to usual mechanical start-up issues with pumps and pipes. Our technical team is adjusting and responding to these issues to continue production. The thermal treatment of concentrate into lithium sulfate has been done for decades by the Chinese using the same basic techniques as Nemaska Lithium. Once our concentrate is converted into lithium sulfate, the subsequent steps of the process should go smoothly since the balance of the plant is already commissioned and we have delivered high purity lithium hydroxide. We are now on the cusp of starting our most important milestone, which is qualifying our products with customers. That process will continue over the next several months and we will be entering into a period of active discussions with clients."
Nemaska Lithium has identified numerous potential clients which have requested lithium hydroxide and lithium carbonate samples from the Phase 1 Plant. Over the course of the next few months, Nemaska Lithium will continue processing spodumene concentrate to produce sufficient samples of lithium salts to engage potential clients that have asked to evaluate and qualify products.
Project Financing
Nemaska Lithium is currently evaluating a number of financing alternatives for the project financing including debt (from private lenders as well as traditional large banks) and/or a strategic investment either at the Company or the project level. During the project financing due diligence, several independent engineering firms evaluated the project from the mine, concentrate to final lithium salts production and submitted technical reports to the project financiers.
"We are in the fortunate position to have a number of excellent financing options on the table at the moment and we are currently weighing the merits of each to select the best scenario for our shareholders," Bourassa said. "We expect to be in a position to announce a project financing solution in the near future."
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which the Corporation holds nine issued patents and several patent applications that are pending in different countries, covering different aspects and improvements of its proprietary technology for preparing high purity lithium hydroxide and carbonate.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the building of an inventory of lithium sulfate to begin its processing into battery grade lithium hydroxide, (ii) the resolution of start-up issues with pumps and pipes at the Phase 1 Plant, (iii) the smooth processing of concentrate into lithium hydroxide, (iv) the production of sufficient samples of lithium salts to engage potential clients, (v) the qualifying of the Corporation's products with customers, (vi) the selection of the best financing scenario among a number of excellent options and the near future announcement of a project financing solution, and (vii) generally, the above "About Nemaska Lithium" paragraph which essentially describe 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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. 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
Contact Information
Mr. Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Ms. Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
www.nemaskalithium.com
http://www.marketwired.com/press-release/nemaska-lithium-processes-whabouchi-concentrate-phase-1-plant-provides-project-financing-tsx-nmx-2236634.htm
Positive Recount of Whabouchi Mine and Shawinigan Plant!
QUÉBEC CITY, QUÉBEC and SHAWINIGAN, QUÉBEC--(Marketwired - Aug. 14, 2017) - Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTCQX:NMKEF) is pleased to announce a recap of milestones achieved over the course of the summer at both the Whabouchi mine and the Shawinigan plant.
Successful production of concentrate at Whabouchi
After producing sufficient spodumene concentrate from the DMS modular mill at Whabouchi to feed the Phase 1 Plant in Shawinigan, Nemaska Lithium will cease DMS operations in a few days . To date, about 1,100t of spodumene concentrate were produced with an average grade of 6.2% Li2O from a bulk sample of about 10,000t of ore. Over the course of this exercise, a total of 23,000t were blasted and crushed at the Whabouchi mine, leaving 13,000t of ore with an average grade of 1.75% Li2O in inventory which will be used in the start up of commercial operations.
About 600t of mineral fines (a more finely crushed material that is not suitable for DMS processing), at an average head grade of 1.32% Li2O, are being processed by SGS Lakefield via a flotation circuit. The results of this production should be released next September. Finally, a total of 3,600t of mineral fines with an average grade of 1.3% Li2O are in inventory for use in commercial operations.
"I am very pleased with the results of our bulk sample and concentrate production which has not only provided us with ample high quality concentrate for the Phase 1 Plant processing into lithum hydroxide samples for customers globally, but has also provided us with a stockpile of material for processing once we start commissioning our commercial operation," commented Guy Bourassa, President and CEO of Nemaska Lithum. "This program has been a complete success to date and demonstrated our ability to produce in excess of 6% Li2O concentrate, an important achievement that has not been easily matched by our peers."
A new delivery of lithium hydroxide from the Shawinigan plant
The Corporation produced an additional 4t of battery-grade lithium hydroxide to be delivered to its client Johnson Matthey (JM) over the next few days. This delivery is in addition to the 3.5t of lithium hydroxide delivered to JM on last June 20th. The installation and commissioning of the calcination and acid baking equipment has been completed, and the Corporation will begin transforming the spodumene concentrate, produced at the Whabouchi mine, into lithium hydroxide by the end of this month. The goal is to begin delivering samples to potential clients at the end of September.
This is an important stage in the development of Nemaska Lithium as it signifies the start of the qualification of its lithum hydroxide products by clients across the globe.
The construction of the commercial project is on track according to the schedule
Following the close of the $50M bought deal public offering completed on June 29th, 2017, Nemaska Lithium is pursuing detailed engineering with a view to undertaking construction of the commercial facilities at the Whabouchi mine and the hydromet plant in Shawinigan. The majority of the long lead equipment for the mine has been selected and orders should be confirmed through the course of the current quarter, as will the final selection of primary equipment for the hydromet plant.
"Our last financing has given us the resources to continue construction at the mine site where we have already built the commercial concentrator building, administrative offices and access roads within the mine site," Bourassa continued. "We have also contracted with Hydro-Québec to build 13 km of hydro line to the mine site from the nearest substation. In addition, our technical team has been working closely with our engineering consultants to finalize the design and layout of the commercial hydromet plant, enabling us to select key suppliers."
A new organizational structure
In an effort to streamline its organizational chart in order to better align it with its short- and medium-term objectives, Nemaska Lithium recently undertook a restructuring of its resources, leading to the abolition, effective today, of the position of Vice President, Operations occupied by Mr. François Godin. This reorganization will foster Nemaska Lithium's participative management philosophy, which supports an autonomous decision-making process at all levels. Participative management is at the core of Nemaska Lithium's culture of accountability, creativity and innovation that is demonstrated by all of its employees.
"One year after the project was launched, and on the eve of the construction of our commercial operations, we have been able to take a step back in order to adjust to our evolving priorities", said Mr. Bourassa. "With this optimized structure and the positive results from our summer activities, I am fully confident in our capacity to achieve our objectives for our shareholders, our employees, and the communities in which we operate. I wish to thank François for his contribution to the success of Nemaska Lithium."
Following this simplification of the organizational chart, the Project Director, Yves Painchaud, the Director of Operations for the plant, André Bouchard, as well as the future General Manager for the mine, whose recruitment process is underway, will now be joining the Technical Director, Jean-François Magnan, in reporting directly to the President and Chief Executive Officer, Guy Bourassa. At the same time, the Procurement & Contract Administrative Director, Marie-Josée Parent, will now report to the Chief Financial Officer, Steve Nadeau. Finally, Health & Safety Coordinator Richard Roy will now work under Simon Thibault, Director of Social and Environmental Responsibility.
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which the Corporation holds four granted patents, in addition to several other patent applications that are pending in different countries, covering various aspects and improvements of its proprietary technology for preparing high purity lithium hydroxide and carbonate.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the release of results from SGS Lakefield's flotation circuit next September, (ii) the use of material stockpiled for processing upon the commissioning of our commercial operation, (iii) the transformation of spodumene concentrate from the mine into lithium hydroxide by the end of this month and the delivery of samples to potential clients at the end of September, (iv) the confirmation of mining equipment orders and final selection of primary equipment for the plant during the current quarter, (v) the improvement in participative management following the reorganization, (vi) the Corporation's capacity to achieve its objectives, and (vii) generally, the above "About Nemaska Lithium" paragraph which essentially describe 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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. 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
Contact Information
For more information or to request an interview
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
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