Emerging lithium miner Sayona Mining Limited (
Based on court-approved procedures, the monitor has requested confirmation that Sayona's bid remains open for acceptance until this date. The Company has confirmed its acceptance.
Sayona has assembled a world-class team to support its bid for NAL, with Sayona's team encompassing the necessary operational and technical expertise together with environmental, engineering and financial know-how to ensure a successful turnaround.
Importantly, Sayona's bid has the unique advantage of being able to combine lithium produced from the Company's nearby Authier Lithium Project with the lithium at the NAL site, facilitating a significant improvement in plant performance and economics.
Sayona's Managing Director, Brett Lynch commented: "The delay to the sale process is not unexpected given current conditions in Quebec and globally due to the impact of the COVID-19 pandemic and resulting shutdown.
"We look forward to engaging further with the monitor and other key stakeholders to advance our bid, which offers the best prospects for a successful turnaround at NAL that would support jobs, investment and Quebec's lithium strategy."
About Sayona Mining Limited
Sayona Mining Limited (ASX:SYA) (OTCMKTS:SYAXF) is a North American lithium producer with projects in Quebec, Canada and Western Australia. In Quebec, Sayona's assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Quebec.
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region
prospective for gold and lithium. Sayona is exploring for Hemi-style gold targets in the world-class Pilbara region, while its lithium projects include Company-owned leases and those subject to a joint venture with Morella Corporation (ASX:1MC).
Contact
Brett LynchManaging Director
Phone: +61 (7) 3369 7058
Email: info@sayonamining.com.au
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