from the ASX...Strategic partnership announced with leading US lithium corporation, Piedmont Lithium Limited, to invest up to US$12 million (AUD$15.5m) in Sayona Mining, together with offtake agreement.
Battery researcher, Novonix Limited, to test Authier product’s potential for 99.97% purity lithium hydroxide battery.
Tansim Lithium Project in Québec further expanded, with new drilling program planned for both Tansim and flagship Authier Lithium Project.
In Western Australia, gold exploration advances with airborne magnetic survey completed at Deep Well and Mount Dove projects.
Oversubscribed A$20.4m fully underwritten renounceable rights issue to support expansion of Sayona’s Quebéc lithium projects, including bid for North American Lithium.
1 for 6 renounceable rights issue closes oversubscribed, as shareholders back Sayona’s expansion strategy.
Gross proceeds (approximately A$21.9 million) to support key lithium projects in Québec, Canada, as EV revolution continues to advance in North America.
New shares under the offer expected to be issued and allotted on 27 April.
27% increase in size of Sayona’s Tansim Lithium Project in Québec, Canada following acquisition of 75 additional claims, taking total project area to 20,256 ha of prospective lithium acreage.
In Western Australia, 3,900 line km airborne magnetic survey completed to advance gold drill targets at Deep Well and Mt Dove projects.
Increased exploration activity follows strong outlook for both lithium and gold, as Sayona invests in upgrading its Canadian lithium resource base and increasing the value of its West Australian gold and lithium projects.
Leading battery researcher Novonix Limited to test Authier Lithium Project samples for potential to deliver minimum 99.97% purity lithium hydroxide for batteries for EV makers.
Australian clean tech hydroxide provider, ICS Lithium to support trials by providing product to Novonix, based on sustainable and economical closed loop process.
Testing at Novonix’s battery lab in Canada to commence in May 2021, with full testing to include the development of a battery cell based on Authier lithium product.
Trials to reinforce Sayona Québec’s potential to deliver environmentally friendly, cost-competitive and high-quality lithium hydroxide product suitable for fast-growing North American battery market.
1 for 6 Renounceable Rights Issue to raise up to A$20.4 million; priced at 3.2 cents per share, with rights to start trading from 6 April 2021.
Offer fully underwritten; 10.5% discount to the 30-day VWAP of 3.6 cents, 18% discount to the last sale of 3.9 cents.
Major shareholder, Piedmont Lithium Limited (ASX:PLL) taking up full entitlement under offer.
Funds to support Company’s bid for North American Lithium (NAL) and progress key projects in Québec, Canada, amid rising lithium demand in North American market from battery and EV makers.
Canadian National Instrument (NI) 43-101 review determines high exploration potential for lithium pegmatites across Sayona's Tansim Lithium Project, Québec.
Project-wide exploration planned to test for new albite-spodumene pegmatites and to complement resource drilling at the Viau-Dallaire and Viau prospects in the 2021 exploration season.
Tansim recognised as key growth component for Sayona’s Québec lithium hub development, complementing flagship Authier Lithium Project and offering potential synergies with North American Lithium (NAL) (pending a successful bid).
Sayona expands Tansim Lithium Project, Québec following acquisition of 90 additional claims, increasing project size to 15,907 ha, a 44% increase in lithium acreage.
Ex-North American Lithium COO Yves Desrosiers appointed director of Authier Lithium Project, including responsibility for the ‘BAPE’ process, as Sayona Québec advances project approvals.
Authier Lithium Project’s environmental studies progress, with completion of response to Québec Government queries as approval process advances.
Tansim Lithium Project in Québec further expanded as part of development of Abitibi lithium hub.
Collaboration with Australian clean tech provider, Integrated Carbon Sequestration (ICS) over its sustainable lithium hydroxide production technology.
Sayona resumes 100% ownership of Pilbara gold/lithium tenements; gold exploration commences.
Post-quarter:
Québec announces phase out of gasoline engine vehicles by 2035 as electric vehicle (EV) sector continues to accelerate in Canada and United States.
EIS studies advance at flagship Authier Lithium Project; North American Lithium (NAL) bid continues to progress.
Sayona resumes full ownership of Western Australian gold and lithium portfolio following termination of Earn-In Agreement with Altura Mining.
Québec’s Superior Court approves monitor’s request to extend North American Lithium (NAL) bidding process to closing date of 22 January 2021; bidding process relaunched with all interested parties including Sayona to resubmit bids.
Sayona confident of successful bid, backed by world-class advisory team and turnaround plan based on integrating NAL with the Company’s flagship Authier Lithium Project to significantly improve plant performance and economics.
Sayona expands Tansim Lithium Project, Québec with acquisition of additional 39 claims.
New field work underway at flagship Authier Lithium Project, as Company progresses environmental and geotechnical studies; critical follow-up work contracts awarded, targeting year-end completion.
Global independent investment banking advisory firm, Evercore Group LLC joins Sayona's world-class advisory team for North American Lithium (NAL) bid.
Placement agreed with Battery Metals Capital Group LLC raising up to US$2 million (AU$2.73m); additional US$6m available at Sayona's sole request.
Investors support Sayona's growth strategy with heavily oversubscribed placement of shortfall raising A$2.75 million.
Exploration work progresses at lithium/gold exploration portfolio in Western Australia.
North American battery metals supply chain locking into place as leading electric vehicle (EV)maker Tesla seeks local supply of spodumene and other battery metals. Canadian Government backs domestic EV sector with Ford investment; Québec positioned as a key supplier of battery metals to Canadian automakers, which include Ford, General Motors and Fiat Chrysler. Sayona advancing flagship Authier Lithium Project and emerging Tansim Project to fill growing spodumene supply gap; bid for North American Lithium (NAL) continues to progress.
Placement agreed with Battery Metals Capital Group, LLC, raising up to US$2 million (AUD$2.73m); additional US$6m available at Sayona’s sole request. Funds to support Company’s growth plans, including Authier Lithium Project, Tansim project and Pilbara lithium/gold portfolio in Western Australia and other potential opportunities, including bid for North American Lithium (NAL) amid accelerating EV revolution.
Nemaska Lithium restructuring announced in C$6OO million (AUD$624m) deal seen as ‘first piece of the puzzle’ in Québec lithium sector’s revival. Québec economy minister flags battery-making push could require more than C$7 billion of investment. Following Nemaska Lithium deal, monitor further extends bid deadline for North American Lithium to end September, with Sayona confident of delivering successful turnaround.
New field work underway at Sayona’s Authier Lithium Project, as Company progresses various environmental and geotechnical studies; critical follow-up work contracts awarded, targeting year-end completion. Flagship project to form key part of Abitibi lithium hub, as Sayona advances its Québec expansion to service growing North American, European and global battery market.
Sayona expands Tansim Lithium Project, Québec to 15,998 hectares with addition of 39 claims spanning 2,234 hectares of prospective lithium acreage. Move strengthens Sayona’s plans for development of new lithium hub in Abitibi, encompassing Authier Lithium Project, Tansim and North American Lithium (subject to successful bid). Québec lithium sector picking up speed, with analysts pointing to economic, strategic and environmental benefits of province as key supply source for North American battery market.
Québec lithium industry restructure picking up speed, with foreign investors seen spearheading turnaround. Amid Nemaska Lithium restructuring, monitor extends bid deadline for North American Lithium (NAL) to end August, in line with expected closure of Nemaska Lithium bidding process.
Momentum builds for Sayona’s bid for North American Lithium (NAL), amid transformation of broader Québec lithium sector and Government support for industry’s development. Authier Lithium Project’s approval process on track, with no ‘show stoppers’ in EIS feedback from Ministry of the Environment and the Fight against Climate Change. In Western Australia, Sayona advancing lithium and gold exploration portfolio under earn-in agreement with Altura Mining. Investors support Sayona’s growth strategy, with renounceable rights issue securing A$2.57 million and subsequent heavily oversubscribed placement of shortfall raising A$2.75 million in the face of extreme market volatility; early close-out of Obsidian Global convertible securities facility.
