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A plunge below .10 is likely when the financing deals are announced.
100% renewable energy across all sectors possible by 2050 with solar leading the way, study says
https://electrek.co/2019/04/15/renewable-energy-2050-solar/
I stand by my expectation of "Peak People" in 2021 and a planned and sudden culling of 500+ million in 2021.With the U.S. seeing the biggest loss of life as we are the biggest eaters at the natural resources buffet.I expect computer viruses and biological weapons will be used to thin the heard in 2021 and again as deemed necessary when we repeatedly hit a natural resource wall.Be it energy in the form of oil or food we will hit a wall more than once until population drops to a viable level.I don't see this crisis being allowed to happen on it's own over a long period of time.Someone with the ability to control the die-off will likely do so to avoid risking a Mad Max scenario.We will keep our toys but we will be much fewer in only a decade or two.Perhaps a billion or two will be the sustainable level.And we won't be escaping to Mars.It's too late for a painless transition.It's too late to run away.2021 is zero hour IMO.
You know what I think about shale oil and tar sands oil?I think they fake pool oil supported by low interest rates and technology and real liquid pool oil.Shale oil and tar sands oil are more like wind and solar energy which are supported by low interest rates,subsidies and real remaining pool oil.The wall is getting closer.WE ARE IN DEEP DOO-DOO.Cheers
Is the World Becoming Wealthier or Poorer?
March 27, 2019
"the expansion of "money" creates an illusion of rising wealth when in fact the natural capital we depend on is declining rapidly."
the degradation of wild fisheries, the loss of soil fertility,the decline of fresh water tables and the shrinkage of glaciers that feed fresh water rivers don't make it into "price discovery" of markets.
The problem is we have based our entire civilization on "growth," the never-ending expansion of consumption of resources, energy and capital, the the permanent expansion of everything: jobs, consumers, credit and so on.
The planet's natural capital and buffers are being exploited and consumed at a rate that guarantees disruption of essentials such as grain and fresh water. There are no cheap technological fixes to the depletion of natural capital. No robot or AI software can restore depleted soil or replace soil that washed away.
If we add in the loss of natural capital and the full lifecycle costs of our "growth"-dependent global system, we;re losing ground and becoming poorer by the day. Having central banks create more "money" can generate a phantom wealth for a short time, but as the saying has it, Nature Bats Last. Counting on phantom wealth to power an unsustainable system is delusional.
https://www.oftwominds.com/blogmar19/world-wealth3-19.html
2 of the best agree on 2018 Peak
Ron Patterson "I am now of the opinion that 2018 will be the peak in crude oil production, not 2019 as I earlier predicted."
So he agrees with:
Gail Tverberg"Given the nearly worldwide problem of falling affordability of goods by non-elite workers, we should not be surprised if the peaks in oil production in October and November 2018 ultimately prove to be the maximum production ever recorded. In fact, it seems quite likely that the year 2018 will prove to be the year with the highest-ever oil production."
https://oilprice.com/Energy/Energy-General/Was-2018-The-Peak-For-Crude-Oil-Production.html
Was 2018 The Peak For Crude Oil Production?
By Ron Patterson - Mar 14, 2019
Have We Already Passed World Peak Oil and World Peak Coal? Gail Tverberg February 22, 2019
https://ourfiniteworld.com/2019/02/22/have-we-already-passed-world-peak-oil-and-world-peak-coal/#more-43590
That's my two favorites on Peak Oil.
Venezuelan city devastated by looting during power outages
https://pilotonline.com/business/consumer/article_7de92c67-47e3-5175-9508-4b122d0a495e.html
By SHEYLA URDANETA Associated Press
Mar 13, 2019 Updated 34 min ago
MARACAIBO, Venezuela Population: 1.653 million
MARACAIBO, Venezuela (AP) — Bakeries, butcher shops, hardware stores, malls, hotels, pharmacies — these were just some of the hundreds of businesses that were looted and vandalized in Venezuela's second-largest city during nationwide power outages.
There were no reports of further unrest in Maracaibo on Wednesday, the day after the looting, as people formed long lines outside shops that hadn't been damaged and were selling food. But business leaders said devastation to the city's commercial life, of a kind unseen elsewhere in Venezuela during the blackouts, would complicate efforts to provide staple goods to people in the region.
"It was total madness," said Ricardo Acosta, a vice president of a business association in northwest Zulia state, of which Maracaibo is the capital.
He said looters sacked a cigarette factory and even stole the furniture from a
church during a rampage Monday and Tuesday. An estimated 500 businesses were looted, he said.
The power outages that started during the evening rush hour on March 7 caused havoc across Venezuela, shutting down water pumps and phone and internet service for millions who were already struggling with widespread shortages of food and medicine amid the hyperinflation ravaging the country's economy.
Zulia has some of the poorest districts in Venezuela, and opposition sentiment is strong there. But some residents said hoodlums took advantage of the mood of desperation and looted whatever they could, including shoes, clothing and cellphones.
Venezuela's largest private food supplier, Empresas Polar, said a distribution center and a production plant for Pepsi-Cola Venezuela were hit during the chaos. So were a pasta plant and a beer distributor. The supplier reported the loss of large quantities of food, water and other drinks, vehicles, computers, office furniture and other items.
The damage to small businesses was particularly sad because many had donated meat, bread and other perishable goods to the hungry, realizing that the food would go bad without refrigeration, said Acosta, the business leader.
He said security forces did little to protect private property, instead stepping aside or watching as looters plundered shops.
Mayor Willy Casanova, however, said security forces in the city dispersed "criminals" trying to take advantage of the power cuts.
Videos posted on social media showed chaotic scenes of crowds roaming the streets and breaking into buildings. In some cases, shots were fired as guards or security forces attempted to fend off the looters before retreating.
Maduro did not comment on the unrest in Maracaibo as it unfolded, and instead highlighted government efforts to restore power nationwide. Guaido referred to the looting, saying the government had left the people "at the mercy of chaos."
After five days without electricity to pump water, Venezuelans from working-class neighborhoods to upscale apartment towers are complaining of increasingly infrequent showers, unwashed dishes, and stinking toilets.
Many worry about the spread of disease. The lack of water compounds the inability to buy soap due to soaring prices or chronic shortages.
“They’re killing us with hunger and thirst,” said Gladys Martinez, 52, a homemaker, who joined the demonstration that blocked two lanes of the highway, snarling traffic and drawing dozens of police and National Guard troops to the scene.
As Venezuela’s five-day power blackout left homes without water, Lilibeth Tejedor found herself looking for it on Monday in the last place she would have imagined - a drain pipe feeding into a river carrying sewage through the capital, Caracas.
Unlike the fetid liquid flowing through the Guaire river, the water emerging from the pipe was at least clear. Those who gathered to collect it said the water had been released by local authorities from reservoirs.
They added, however, that it was being carried through unsanitary pipes and should only be used to flush toilets or scrub floors.
Day 4:Venezuelans started looting supermarkets in Caracas(population 2 million) on Sunday, as power outages reached their fourth day
Town's with under 15,000 souls are said to be less inclined to looting during a crisis.That's interesting.....................
Or:Peak Food Is Near,When Grains Hit New Highs Its Time To Kiss It All Goodbye.
IMO that's the "energy crisis" to end life as we know it.The world is focused on global warming and carbon capture while winter weather records are pointing to a new cooling cycle.
Grains could go up 4 fold in the next 2 years.
That's when the decision to cull the herd quickly or risk an uncontrollable Mad Max scenario gets made.
Bio weapons will be the favored option I suspect.
500 million in the first culling
a few billion in the next
and a few more billion after that....
Peak Oil won't matter for the next one hundred years.
Preppers need to be prepositioned away from densely populated areas.Travel restrictions could be put in place overnight. Quarantines could last for months.World trade could come to a standstill until the viruses burn themselves out.
Cheers
.10-.15 might become support.Or not.EOM
No signs of insider buying here.LOL EOM
It's an energy saver I have thought about as an option for lowering energy costs and useful for power outages.I hope a market for them grows and modern upgrades are made.Nice find.
Have We Already Passed World Peak Oil and World Peak Coal? Gail Tverberg February 22, 2019
https://ourfiniteworld.com/2019/02/22/have-we-already-passed-world-peak-oil-and-world-peak-coal/#more-43590
Gail Tverberg"Given the nearly worldwide problem of falling affordability of goods by non-elite workers, we should not be surprised if the peaks in oil production in October and November 2018 ultimately prove to be the maximum production ever recorded. In fact, it seems quite likely that the year 2018 will prove to be the year with the highest-ever oil production."
"This is a frightening situation, because it could be an indication of collapse in the next few years. This would likely be much worse than the Depression of the 1930s."
"Financial systems are likely to collapse; international trade will be scaled way back; world population is likely to fall."
Great essay! I wrote this today as I was posting on a board about the decline of the United States.:
"When did the U.S. start to loose it's way?IMO it all started in the 60's.Inspirational leaders like JFK and MLK were assassinated.58,220 soldiers were sacrificed for a dubious war.And then there was the election of Nixon and his legacy including the green light given to rob the masses with the unilateral cancellation of the direct international convertibility of the United States dollar to gold."
More thoughts for you now that you got my juices flowing.LOL:
Then there is the transformation from citizen to consumer.The focus on outer beauty pushing out the focus on inner beauty and character.We have become more materialistic and less spiritual.We are not doing well as we are not finding fulfillment.We are depressed,self-destructive,unfit and in need of more and more distractions.We are rude,impatient and things like road rage and mass shootings are increasing.
Then there's the corruption of upper management.They have no idea how bad things are and have no solutions.They grow the debt and cling to power until we all crash into the fast approaching wall.
Brace for impact. Cheers
"A decade of EV progression is leaving gas/diesel technology in the dust."
https://cleantechnica.com/2019/02/22/kia-e-niro-review-with-240-miles-of-range-i-repeat-there-is-no-more-excuse-to-not-own-an-electric-car/
Kia Niro EV Review — With 240 Miles Of Range, I Repeat: There Is No More Excuse To Not Own An Electric Car ,February 22nd, 2019 by Nicolas Zart
CleanTechnica spent time behind the wheel of the Kia Niro EV for two days in Santa Cruz, California. I walked away feeling that, finally, we have no more excuses to not own an electric vehicle (EV)
Carmakers must really feel the heat when it comes to EVs lately. Kia started working on its Niro concept in 2014. Today, it has a hybrid version and, for those on the fence about going electric, a plug-in hybrid (PHEV). It also has a pure EV, which is what most of our readers care to learn more about. The key number speaks for itself — 240 miles of range. But beyond the range, this crossover is far more fun to drive than its internal combustion engine (ICE) counterparts.
With 240 miles of range, the Kia Niro EV has enough range for a two-day stint. But the best features are the standardized wireless phone charging, auto-regen, anti-creep forward, and a few other things available across the Kia Niro lineup.
According to Steven Kosowski:
“Niro EV is a milestone vehicle for Kia and the Industry. It is the first mainstream EV crossover with real usable range — 239-miles — in a desirable design/style with a useful package, at an affordable price.”
Steve also talks about the fast pace of development at Kia:
“From Oct 2014 (first Soul EV launch) to Jan 2019, a little less than four years, the range has advanced from 93 miles to 239 miles (2.6×), and the battery energy density increased by +25%, while battery weight increased only 1.6x (640 lb to 1008 lb). Truly remarkable advancements in a short timeframe, and they align quite well with market/customer needs globally.”
Long trips in a Niro EV would be comfortable. The adaptive cruise control with the adaptive auto-regen means you drive the car with the steering wheel only. The lane keeping feature keeps the Niro EV well in its lane, but don’t take your hands off the steering wheel — it will remind you by beeping and, eventually, stopping. Can we call it autonomous level 2.5?
A decade of EV progression is leaving gas/diesel technology in the dust. It also makes the idea of hydrogen fuel cell vehicles difficult to grasp for daily commuting. Kia does a great job at presenting a compelling lineup of “alternative energy” vehicles and has no qualms putting its EVs center stage at auto shows.
@.25 they "only" need too sell 1.5 bil shares.EOM
That article NAILED IT!eom
Reflections On Nemaska's Bombshell
https://seekingalpha.com/article/4241693-reflections-nemaskas-bombshell?dr=1
"Repriced To The Same Valuation
The market quickly repriced Nemaska to the same valuation after accounting for an additional $285 million of equity dilution. If you own it, I would not buy any more. If you do not own it, buying it at the current price is not giving you any sort of discount to where it was a few days ago. Again, it has been repriced to account for the dilution and continues to trade for the same valuation. It is not cheaper.
"Nemaska continues to trade at a valuation that is comparable to Lithium Americas (LAC). Both companies are targeting 2022 for full production.
"Nemaska shareholders should set down their stones (for now at least). In a few years, they just might have the lowest-cost hydroxide producer and one who actually discloses its low costs. That which was once rejected may become increasingly valuable and transparently so.
Nemaska Lithium: A Train Wreck Of Epic Proportions
https://seekingalpha.com/article/4241411-nemaska-lithium-train-wreck-epic-proportions?dr=1
I suppose .10 is possible in this environment.EOM
More pain is coming:"Nemaska's Lithium Project Turns Into A Disaster"
https://seekingalpha.com/article/4241081-nemaskas-lithium-project-turns-disaster?dr=1
Summary
Nemaska's Whabouchi lithium project will cost C$375 million more than originally projected.
The cost overrun is a disaster, given the low share price.
A significant share dilution is highly probable.
Nemaska's share price declined by 38%, but given the uncertainty, it may fall further.
"Meanwhile, lithium expert Joe Lowry said that although generically speaking lithium projects are challenging to bring online, the scale of the debacle in Quebec — the poor execution and inability to properly frame costs — is specific to Nemaska.
“Unfortunately it will be another black eye on lithium juniors. So despite being a significant failure by a single company, it will have industry-wide ramifications making already skittish investors even more negative,” Lowry, who is co-host of the Global Lithium Podcast, told INN.
https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/nemaska-lithium-financing-shortfall/
Bring on the pain!EOM
Call me paranoid and overly optimistic but it looks there was a plan to knock this $20+ billion company in the making, stock price down for big future gains by insiders and others.I believe NMKEF can see $20.00-30.00 in 5-10 years.I believe lithium can rise to 30,000-50,000 per ton and this company has the goods.I also think the stock will test .15 in the next few weeks.
I'll take the tax loss and look to buy a larger position in the teens.
I'm out.Ouchda EOM
.15 is possible now!EOM
News:Reassessment of Cost to Complete ,Update on Overall Whabouchi Project
the Corporation currently estimates that additional net funds of about CAD 375M would be required
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=146802542
QUÉBEC CITY, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) today provides an update on the evolution of the Whabouchi project (mine and electrochemical plant). The Corporation reports that construction and purchasing of equipment at both the Whabouchi mine and the Shawinigan electrochemical plant are progressing on schedule. As expected at this stage of construction, a cost to complete reassessment was performed to reflect the current level of detailed engineering and reception of numerous firm quotes for equipment and installation.
“We now have a better understanding on the remaining scope of the project, estimated budget and current market conditions. The revised overall project cost reflects a more precise outlook on installation costs and other key variables to the completion of our project,” said Guy Bourassa, President and CEO of Nemaska Lithium.
As at December 31, 2018, CAD 138.4M has been incurred for the Whabouchi mine, and CAD 67.3M for the Shawinigan electrochemical plant covering mainly engineering, site and civil works. As of February 8, 2019, the Corporation had on hand CAD 335M in unrestricted cash and cash equivalents.
Cost to Complete Reassessment
Based on the CAD 1.1B financing package announced on May 30, 2018, and based on the past eight (8) months of construction, the Corporation currently estimates that additional net funds of about CAD 375M would be required to enable the Corporation to complete construction and meet the drawdown conditions provided in the streaming agreement with Orion Mine Finance and the senior secured bonds closed on April 12 and May 30, 2018 respectively.
An important portion of these costs are now being based on finalized agreements and/or bids received rather than estimates as it was the case for the NI 43-101 Technical Report. This additional estimated funding, which is largely related to installation and indirect costs, was determined as a result of a detailed review and deeper knowledge of all project components, including detailed engineering work, revised site geotechnical data and updated equipment and installation costs. On the other hand, direct purchase package costs, mainly representing equipment, are in line with the initial budget.
“Project construction is on time and we have a capable team in place to execute and deliver the project. We also have the benefit of a strong shareholder base as well as partners with whom we are working very closely to identify a variety of funding solutions to deliver the project according to the schedule,” said Guy Bourassa. “We are evaluating several options that would enable existing and new shareholders, and project partners to join the table. Our objective remains to close the required financing on time to stay on target to complete mine construction in October 2019, in order to make the first shipment of spodumene concentrate in December 2019, followed by the start-up of the Shawinigan facility the year after.”
Ongoing Activities
In the meantime, the Corporation continues to deliver high quality lithium hydroxide products from the Phase 1 plant: “We have recently completed the installation of the drying and bagging equipment, and we have started producing lithium hydroxide monohydrate that meets battery industry product specifications,” added Mr. Bourassa. “We are very pleased with the high interest demonstrated for the product as over twenty end-users from across the world have requested to receive some of the first samples for qualification.”
The Corporation is currently evaluating the opportunity to increase the lithium hydroxide versus carbonate sales ratio to better meet the growing demand of hydroxide globally.
In parallel, significant work has also been done to finalize and implement the Whabouchi mine readiness plan, everything from procurement to operations, as well as recruitment and training activities.
“Currently, there is a very limited number of vertically-integrated lithium projects that are fully permitted and under construction around the world and Nemaska Lithium is the most advanced. As new sources of supply are required, mainly for electrical vehicles, we are building in Québec strong and valuable assets that will support innovative and green business opportunities,” concluded Mr. Bourassa.
About Nemaska Lithium
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
.20!EOM
Lithium:"The Biggest Bottleneck In The Renewable Revolution" Feb 12, 2019
https://safehaven.com/commodities/industrial-metals/The-Biggest-Bottleneck-In-The-Renewable-Revolution.html
"If all the conventionally-fueled cars in the world were replaced with electric cars overnight, the global supply of lithium would be completely depleted in just approximately fifty years. Yes, this is purely hypothetical; about three million electric cars are currently in use globally--just a drop in the automotive ocean. That being said, that number is projected to skyrocket over the next decade, reaching a global fleet of approximately 125 million by 2030."
Here we are at .40 just what my gut told me could be support.I bought @ .76 and @.62 and would love to buy more here.I like the EV story and still think 30.00-50.00 is possible in 5-10 years.I have the position I wanted to achieve specific long term goals.No negative surprises so far and no regrets.Things are on track for a rewarding ROI.
I hope you are keeping busy with things you enjoy more than the internet.This web thing isn't all we had hoped and in many ways it's made things worse.What are we doing to ourselves?We are training terrorists and aiding their recruiting.We are giving our children addiction conditioning and poor social skills.We are becoming more tribal and less tolerant to differences.We are getting drug induced pleasure from "likes" and responses to pictures and posts.We substituted book learning with articles and 10 min videos. LOL or WTF We have unlimited free porn and President Twitter.Markets can crash and wars get started with one tweet. Instability is the new normal and things can change in a fraction of a second.It seems we are on a high speed train that is out of control and rushing towards a wall.
I don't see this ending well.
Cheers
That is a great article.EOM
"Eat Less Meat and Save the Planet" Not
http://www.marketoracle.co.uk/Article64142.html
"....try to be at least as smart as an illiterate medieval peasant and grow your food the natural way: locally, seasonally, independently, with happy animals in a rich green world of fields, trees and farms enriched with thousands of subvarieties of biodiversity in hedgerows so rich they have yet to be fully cataloged. A far cry from the hardened, drilled, paved, expensive, destructive, unsustainable, dangerous, lethal, impoverished way promoted by the scientific experts and the journalists who cover them."
Peak People and human extinction is getting coverage: "The World Might Actually Run Out of People" https://www.wired.com/story/the-world-might-actually-run-out-of-people/
new book:
Empty Planet: The Shock of Global Population Decline Hardcover – February 5, 2019
https://www.amazon.com/Empty-Planet-Global-Population-Decline/dp/1984823213
I'm thinking we hit the wall by 2021-2023.We are on the road to unacceptable instability and intentional culling driven by a global food crisis caused by the sun.Sun worshipers had the right idea as they feared and revered mother nature.Today's son worshipers are in for a big surprise.We aren't as special as they want to believe.Elon Musk wants to improve our chances against extinction with his Mars project.He's not wrong.Cheers
"Tipping Point 2022"?:A new report claims the electric vehicle market will reach a “tipping point” in 2022, when the cost of owning a BEV will equal that of owning a gas or diesel vehicle. The analysis comes from Deloitte, which also foresees EVs grabbing ten percent of the total market by 2024.
https://electrek.co/2019/01/30/report-claims-ownership-cost-of-evs-in-uk-will-be-equal-to-gas-diesel-cars-by-2022/
Report claims ownership cost of EVs in UK will be equal to gas/diesel cars by 2022
Phil Dzikiy- Jan. 30th 2019
Deloitte identifies two main factors in reaching this conclusion in its incredibly detailed report: policy and regulation. The report points to future emission targets and fuel economy standards, financial incentives, and future city access restrictions as being the major drivers of this point.
Regarding those access restrictions, it’s pointed out that about 20 major cities have already announced plans to ban gas and/or diesel vehicles by 2030 or sooner.
The second factor is customer demand. Deloitte’s report analyzes various customer concerns, including driving range, cost premium, and charging infrastructure/time. Demand is expected to increase over time based on the expected future progress in batteries and battery systems. Presumably, customer anxieties will ease around the time of this prospective tipping point.
Deloitte’s outlook expects worldwide sales of 2 million EVs in 2018, increasing to 4 million annually in 2020 and 12 million by 2025. By 2030, an estimated 21 million EVs will be sold within the year.
This trend will see BEVs continue to outperform PHEVs, and Deloitte expects the sales of internal combustion engine vehicles to level off in the early part of the next decade and begin to fall from 2024 going forward.
Rising Markets
Certain markets have already seen EV sales start to take off, with Norway leading the way — roughly a third of all new cars sold last year in the country were zero-emission vehicles. As expected, pre-orders for EVs are also very strong in Norway, which is aiming for all new cars sold in the country to be all-electric by 2025.
While Norway is clearly the frontrunner, we’ve also seen other markets report rapidly increasing EV sales rates — more than 8 percent of new car sales in Canada in 2018 were EVs, with the Tesla Model 3 making a big impact in the country.
Carmakers continue to make new commitments toward EVs — just last week, Toyota and Panasonic confirmed a new battery partnership. GM is also now considering adding all-electric vehicles to their GMC SUV and pickup truck lineup — certainly not a commitment, but the consideration is a sign of the times, and an indication of why some believe such an EV tipping point may be on the horizon.
Construction to resume Feb 5:
Nemaska Lithium to Resume Construction of Whabouchi Mine Site on February 5, 2019
QUEBEC CITY, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt : N0T) announces that construction work at the Whabouchi mine will resume on February 5, 2019. Mine construction activities were put on hold this morning following a fire in the cafeteria of the Nemiscau workcamp, a facility owned and operated by an outside contractor that is located approximately 15 km away from the Nemaska Lithium mine site.
Nemaska Lithium has located an alternate cafeteria facility which is approximately 1 km from the existing lodging facility that will be opened to accommodate Nemaksa Lithium’s employees until mid-March, when the Whabouchi mine site workcamp currently under construction will be opened.
“We are very grateful for the rapid action of our local partners, who will be lending us the cafeteria of their nearby facility. Thanks to their responsiveness, we will be able to quickly get back to constructing the mine with minimal to no delays,” said Guy Bourassa, President and CEO of Nemaska Lithium.
“While we are relieved that this unfortunate incident was settled promptly, we are very touched by the impact of the fire on the Cree community of Nemaska,” added Mr. Bourassa. “The cafeteria was a very popular social venue for the local community, and we are sensitive to this loss which, we hope, will only be for a short time.”
At this time a small work crew remains on site to continue the construction of the Whabouchi workcamp. They are housed through VPC, a contractor of Nemaska Lithium.
https://www.canadianinsider.com/nemaska-lithium-to-resume-construction-of-whabouchi-mine-site-on-february-5-2019
Update:Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) announces that a fire that occurred last night has caused damages to the Nemiscau workcamp cafeteria, which hosts the construction workers of the Whabouchi mine located 15 kilometres further. Construction work at the mine site is suspended indefinitely.
“All the workers who were sleeping nearby the cafeteria have been rapidly evacuated and nobody was injured. We are actively working to find a solution to offer our workers a cafeteria service and to resume our activities as quickly as possible,” explained Fanny-Ève Tapp, spokesperson for Nemaska Lithium.
All employees and subcontractors have been informed of the temporary interruption of work. In the interim, 167 workers will be going home today.
More information will be provided as soon as it becomes available.
https://ih.advfn.com/stock-market/TSX/NMX/stock-news/79159151/fire-at-the-nemiscau-workcamp-cafeteria-nemaska-l
News:Fire at the cafeteria Construction work at the mine site is suspended indefinitely.
QUEBEC CITY, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) announces that a fire that occurred last night has caused damages to the Nemiscau workcamp cafeteria, which hosts the construction workers of the Whabouchi mine located 15 kilometres further. Construction work at the mine site is suspended indefinitely.