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BY FRANÇOIS NORMAND
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Lithium North America had been under the protection of the Companies' Creditors Arrangement Act since May 2019. (Photo: provided)
The Australian Sayonna Quebec can finally take over the activities of Lithium America North (LAN), which operates a mine in La Corne, near Val-d'Or in Abitibi-Témiscamingue.
In a judgment delivered on Tuesday, the Superior Court of Quebec ratified the agreement announced by Investissement Québec on May 27 under which the Australian Sayona Quebec - 75% owned by the Australian Sayona Mining and 25% by the American Piedmont Lithium - has been chosen to take over LAN.
Lithium North America had been under the protection of the Companies' Creditors Arrangement Act since May 2019. Chinese battery manufacturer CATL and Investissement Québec, the two shareholders with secured debts, controlled the company.
Good times ahead!
Court approves sale of Lithium North America to Sayona
16:50 | FRANCOIS NORMAND
The Superior Court of Quebec also rejects the allegations of two companies which denounced irregularities
https://www.lesaffaires.com/
I feel positive about the outcome also.
Several big buys right before close.
From Hotcopper:
onthenose
32
29/06/21 14:20 Post #: 54147068
Looks very promising... CAN had there chances. Judge has had enough and can see time lost is money and slows down progress for Quebec.
Martin Jolicoeur
Tuesday, June 29, 2021 12:00 AM UPDATE Tuesday, June 29, 2021 12:00 AM
Far from apologizing for negotiating the sale of the North American Lithium (NAL) mine in Abitibi to Australian interests, Investissement Québec maintains that Québec investors had all the latitude they needed to promote or improve their offer.
In 18 months, the Montrealer Central America Nickel (CAN) will have presented a total of five different offers to Raymond Chabot Grant Thornton (RCGT), the controller named in the file. And on each occasion, they did not include any guarantee of funding.
At least this is what the prosecutor of Investissement Quebec (IQ), Me Alain Tardif, revealed Monday afternoon in Superior Court, after a full day of questioning and pleadings at the Montreal courthouse.
No less than 14 parties are represented by lawyers in this case. Criticizing the procedures orchestrated by the controller, the Quebec applicants demand that the court prevent the sale of the mine to the Australian Sayona Mining and that it order the resumption of the sale process on new bases.
Lack of good faith?
On April 6, when the bids were opened, Investissement Québec found itself with two similar offers, one of which - that of the Sayona / Piedmont Lithium consortium - had the advantage of guaranteed financing.
It was from there, admitted Me Tardif, that the state-owned company began to negotiate one-to-one with Sayona (without the controller), negotiations concluded by an agreement in May, six weeks later.
“Can Investissement Québec be accused of not having been in good faith to negotiate with CAN, which for 18 months had presented five offers without any proof of financing? He asked, adding that IQ has been funding this process on its own since 2019.
“We have committed $ 12 million so far, just to give the runners a chance [...] But enough is enough. "
Seeming to be sensitive to the costs associated with delays, Judge Martin Castonguay undertook to render a decision in this case as of Tuesday, June 29 in the afternoon.
https://translate.google.com/transl...-american-lithium&prev=search&pto=aue
Electric vehicle (EV) sales in the US, China and Europe will outstrip all other engines five years sooner than previously expected, according to new EY research and analysis.
https://www.ey.com/en_gl/news/2021/06/electric-vehicles-to-dominate-sales-five-years-sooner-than-expected-ey-analysis
Combined electric vehicle sales in the US, China and Europe to outstrip all other engine sales by 2033
By 2045, non-EV sales will shrink to less than 1% of overall sales
Europe is expected to lead EV sales volumes until 2031, with China taking the lead from 2032 to 2050
Electric vehicle (EV) sales in the US, China and Europe will outstrip all other engines five years sooner than previously expected, according to new EY research and analysis. The figures come as EY launches the EY Mobility Lens Forecaster, an artificial intelligence (AI) powered forecast modeling tool that provides an outlook for the supply and demand of mobility products and services through 2050.
The latest predictions show that by 2028 EV sales in Europe will surpass those of other powertrains, a trend that will be repeated in China by 2033 and in the US by 2036. The analysis also shows that by 2045, non-EV sales will shrink to less than 1% of overall sales. In terms of EV sales volumes, Europe is expected to lead the way until 2031, with China taking the lead from 2032 to 2050.
Randall Miller, EY Global Advanced Manufacturing & Mobility Leader, says:
“A mix of changing consumer attitudes, ambitious climate-focused regulations and technology evolution is about to change the landscape of vehicle buying forever. While the automotive industry has begun to more fully embrace the move toward electrification, the impact of this seismic shift is arriving sooner than many expected. This new outlook also has implications for governments and energy industries in terms of infrastructure and electricity generation and storage, and forward-looking organizations are already using this data to help ensure a smooth transition to this new EV-dominated market, which will be here much sooner than expected.”
A new market
As the global auto industry continues to recover from the issues it’s facing due to the COVID-19 pandemic, it will be met by a new group of car buyers. Many people who had rejected ownership in lieu of ridesharing and public transport have reassessed in the shadow of the COVID-19 pandemic, according to EY analysis.
The EY Mobility Consumer Index published in November showed that almost one-third of non-car owners planned to buy a car in the next six months (19% plan to buy new, 12% used cars), and about half of those are millennials. Among both current car owners and non-car owners, 30% said they’d prefer a non-ICE (internal combustion engine) vehicle for their next purchase.
In terms of regulatory support, the new US administration’s announcements include continuity of EV buying incentives and the development of charging infrastructure. In Europe, incentives to purchase EVs are part of COVID-19-related relief measures in France, Germany, Spain, Italy and Austria. The UK has announced that it will ban the sale of ICE vehicles starting from 2030. China also continues support for EVs through regulatory measures, wide product range and increasing customer demand. From the supply perspective, automakers globally have also begun to set their own twilight dates for gasoline-and diesel-powered vehicles, in favor of EVs.
A better way to forecast
EY automotive analysts and data scientists built the EY Mobility Lens Forecaster on a neural network model that uses AI to analyze several variables that influence demand and supply for mobility. These include variables that reflect consumer behavior, regulatory trends, technology evolution (vehicle and ecosystem) and manufacturers’ announced strategies. The model is updated regularly with new market inputs to keep up with the ever-changing reality, including disruptions and available technology. As its predictions are matched up against actual outcomes, the model adjusts its calculations and learns from any mistakes for future predictions, essentially becoming smarter and more accurate over time.
Given its adaptation capability, the EY Mobility Lens Forecaster can also generate forecasts for possible future scenarios to help inform business or government planning decisions, sitting at the center of the EY cross-sector eMobility offering and linking up with solutions such as EY UtilityWave, which uses data from across an existing energy network to better inform future decisions.
For example, a breakthrough in autonomous vehicle technology could shake up the landscape, creating opportunities for fleet operators and cutting into owner-operator sales. Similarly, policy intervention from governments can accelerate the tipping point for the powertrain mix in favor of EVs. Future travelers may adopt an integrated urban mobility model where users make little or no distinction between public and private transport, driving the ownership mix toward shared rather than privately owned vehicles. These factors – and more – can be accounted for using the EY Mobility Lens Forecaster.
EY is already using the data from the EY Mobility Lens Forecaster to help business and government clients. EY teams have helped a leading energy company to come up with a plan for their charging infrastructure roll-out based on expected EV penetration from the model and is also working with a major city council in the UK to develop it as a leading EV city and to support its deployment strategy for EV charging infrastructure.
Miller says:
“The EY Mobility Lens Forecaster is a game-changer, using AI to analyze changing market inputs to give a clear view of the future of the mobility market in terms of powertrain, autonomy level or owner status. We believe it will become an essential tool to help clients in both the public and private sector to simulate potential future scenarios and develop a strategic viewpoint on the future of the mobility landscape.”
-ends-
Notes to Editors
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
About EY’s Global Advanced Manufacturing & Mobility Sector
Urbanization, changing consumer expectations and emerging digital technologies are reshaping what’s possible, from the production and distribution of goods to the transportation of people. To succeed in this new world of mobility and smart manufacturing, incumbents must transform themselves at unprecedented speed — to think like an innovative startup, tap into new talent and engage the customer. With experience across the value chain and key technology alliances, our teams show clients how to create efficiencies now while adopting digitization and optionality for long-term growth. Automotive, transportation, aerospace, defense, chemicals and industrial products companies can draw on the strength of our network of cross-industry players and put our diverse range of approaches to use today to equip their businesses for tomorrow.
Very exciting with name change coming up!
Is $NMCO tied to $NXMH?
That would be outstanding!
Chipping away now.
Agreed.
Sayona tweet this morning:
"North America is seeking local supply sources
of key battery metals and there’s none better than
#Quebec, which has environmentally sustainable,
affordable hydropower, world-class infrastructure
and proximity to key battery markets"
https://sayonamining.com.au/wp/wp-content/uploads/2021/06/ARI_Powering-up_Jun-21.pdf
$SYA $DMNXF #lithium
“North America is seeking local supply sources
— SayonaMining (@SayonaMining) June 14, 2021
of key battery metals and there’s none better than#Quebec, which has environmentally sustainable,
affordable hydropower, world-class infrastructure
and proximity to key battery markets" https://t.co/4RjgRu8l1G $SYA $DMNXF #lithium pic.twitter.com/kaKGTOm8aR
From Hotcopper: (Australian market)
200k buy at 7c 10.33am wow thats some big players coming in now
Good times indeed!
Sayona Embarks on Next Phase of Pilbara Gold Exploration
https://themarketherald.com.au/asx-sya/
Very curious to the identity of "private captial"
"The transaction that would lead to the acquisition of NAL by Sayona, if confirmed by the Superior Court,
would be entirely carried out and completed thanks to the contribution of private capital."
https://sayonamining.com.au/wp/wp-content/uploads/2021/05/SYA_NAL-offer_28-May-21.pdf
https://electrek.co/2021/06/02/tesla-aims-secure-1-billion-year-battery-minerals-australia/
Tesla has confirmed through its chairwoman that the automaker is aiming to secure $1 billion a year in battery minerals, especially lithium and nickel, from Australia
Sayona/Ford may have an off take already in the works. Sayona tweeted about Ford electric vehicles:
Tweet
Conversation
SayonaMining
@SayonaMining
#Ontario #auto industry will benefit from
@FordCanada
#EV drive - & #Quebec has the necessary #batterymetals such as #lithium #SYA $DMNXF
Definitely!
Shouldn't the price be .049 to be in line with Australia?
Volume was crazy, over 124 m.
.054 in Australia
Up 12% in Australia with double volume and market has only been open an hour.
Someone on Stocktwits or Hotcopper or both, pointed out the tweets from Sayona about Ford electric vehicles and the possible off take with Ford coming very soon.
Still here. Patiently waiting. White Knight is worth more than 2B, and they own over 80% of BSPI. This should be a very good one.
Great, informative post!
Maybe Corporate Revival Services is re visiting $ILIM for Custodian
2B market cap would put the pps a little under .50. With the potential off takes with Ford and GM, the pps could really take off way beyond the 2B market cap.
A 420 million dollar market cap would put us at 2.32
So it would actually be more using the Australian pps:
.042 X 6 = .25
Yahoo finance:
Statistics
sya.ax
pill.ax
Numbers on on Yahoo finance
Market caps:
Sayona - 201.58M
Piedmont - 1.28B (6 times that of Sayona)
Good times ahead for Sayona
6X curent ps.037 = .22
From Stocktwits this morning:
Kenylogan
DMNXF may become the ONLY lithium hydroxide producer in Canada in the foreseeable future.
The market capitalization currently also does not take into account NAL as NAL itself is already worth $400 million. This will rocket easily once NAL win is approved by the court and new offtakes are signed. And the WA gold potential is not even factored in yet. Compare to peers without a DFS, DMNXF is truly under appreciated.
IMO Sayona will be at 2B+ market cap soon.
From twitter:
Rispo
May 27
Winning NAL unlocks much potential for $SYA that it’s really just the beginning. A diversified junior miner (#gold #lithium) now with a hub able to provide some of the worlds greenest battery minerals to North America and possibly Europe
Bar Chart:
Overall Average:
96% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
https://www.barchart.com/stocks/quotes/DMNXF/opinion
Erases debt with the original ticker, cleans up the books.
Moody has stated many times, Catapult is just the holding company.
Very exciting! We are owned by a company already worth billions!
White Knight owns $NXMH which has a market cap of over 2 billion which they own over 90% of the shares. White Knight is worth billions.
" Next Meats Co., Ltd. owns and controls 487,352,298 shares of restricted common stock representing 97.47% of our common stock issued and outstanding."
https://www.otcmarkets.com/filing/html?id=14831688&guid=ygRUk66gqfe2b3h
White Knight owns over 80% of the shares of $BSPI.
WOW!!!!