Sayona Mining Limited Stock Market Press Releases and Company Profile
Strategic Alliance to Advance Authier Development and Value
Strategic Alliance to Advance Authier Development and Value

Brisbane, Nov 9, 2017 AEST (ABN Newswire) - Sayona Mining Limited (googlechartASX:SYA) (googlechartDMNXF:OTCMKTS) ("Sayona" or the "Company") is pleased to announce the signing of a non-binding Memorandum of Understanding ("MOU") with leading China based battery manufacturer, Huan Changyuan Lico Co Ltd ("Changyuan").

- Memorandum of Understanding signed with Huan Changuan Lico Co Ltd, a subsidiary of Fortune 500 company, Minmetals Group

- Strategic alliance to explore marketing, technical, and financial development options for the Authier lithium project

- Alliance to focus on fast-tracking towards production and exploring for value-adding opportunities for the Authier spodumene concentrate production

Changyuan, a subsidiary of the Fortune 500 Company, China Minmetals Group, is a battery research, development, and production company. In 2016, the company produced more than 16,000 tonnes of battery cathode materials and is expanding its production capacity to 36,000 tonnes in 2018. The main products produced include, lithium cobalt oxide and lithium manganese oxide batteries, and ternary composite lithium-ion cathode materials.

The MOU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project, including:

- Changyuan purchasing up to 100,000 tonnes of spodumene concentrate per annum;

- Development partnerships for the value-adding of the concentrates into lithium carbonate and/or lithium hydroxide in either China or Canada; and

- Funding and investment opportunities for Sayona and the Authier project.

Corey Nolan, Chief Executive Officer, commented, "The Company has been exploring a number of options on how it best realises value from the Authier project. The alliance with Changyuan represents a timely, exciting path forward as the Company moves towards completing its Definitive Feasibility and meeting its objective of producing first concentrates in 2019/2020, and capitalising on the projected high price environment for spodumene concentrates".


About Sayona Mining Limited

Sayona Mining LtdSayona 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). 

 

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Contact

Corey Nolan
Chief Executive Officer
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au



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