Help Desk -
9958816305, 9810335381
Email
Password

Sayona Mining Revised Authier DFS Shows Boost to Profitability

Mining News - Published on Wed, 13 Nov 2019

Image Source: newenergynarrative
Emerging lithium miner Sayona Mining Limited announced today a revised Definitive Feasibility Study for its flagship Authier Lithium Project, showing the Quebec project's potential to become a sustainable and profitable new lithium mine with higher returns than previously estimated. Sayona's Managing Director, Brett Lynch said “It provided increased confidence to investors and project partners of the Authier project's potential to become a highly valuable operation for the benefit of all stakeholders, including First Nations, government and other members of the local community. "This revised DFS highlights the value of Authier producing a spodumene concentrate for the fast-growing lithium-ion battery market. Quebec aims to become a leader in this new energy sector and we are determined to make a substantial contribution through our Authier project to delivering on the government's vision."

Highlights

- Revised Definitive Feasibility Study for Authier Lithium Project shows potential to become a sustainable and profitable new mine for benefit of all stakeholders

- Net present value rises to CAD 216 million from previous study's CAD 184.8 million; pre-tax internal rate of return of 33.9% and estimated capital payback 2.7 years, based on annual average spodumene production of 114,116 tonnes (6% Li2O).

- Potential to generate up to 176 new jobs for benefit of local community for mining operation spanning an estimated 14 years

- Pending regulatory approval, Authier project adds to Sayona's Quebec lithium portfolio, with potential to supply North American Lithium concentrator (pending successful bid).

Source :

Posted By : Arun Huidrom on Wed, 13 Nov 2019
Related News from Mining segment