Sayona Mines Announces Completion of Commercial Grade Lithium Production in Canada

Canada: Sayona Mining Limited (SYA) has made significant progress in the North American Lithium market, with their subsidiary North American Lithium (NAL) producing its first batch of saleable Lithium concentrate in Quebec, Canada. The 1,200m tons of commercial grade spodumene includes some SC6 (6pc Lithium), making NAL the most recent mining firm to produce a viable grade of the product for sale.

The company is anticipating shipments to begin by July and is hoping to reach a production level of 85,000-115,000t by the end of their fiscal year in 2024. This milestone marks an important development for Sayona Mining Limited and the US Lithium industry.

Sayona and Piedmont Lithium have announced a strategic partnership to process Lithium products further downstream from the NAL spodumene mine. Through this partnership, Sayona will own 75% of the mine while Piedmont Lithium owns 25%. Of the total Lithium production at the mine, Piedmont has agreed to take 50% (or 113,000 tonnes) of the spodumene output.

Quebec is becoming an essential player in the battery metal and cell production industry. The US Inflation Reduction Act has been a major factor in this development, as it has bolstered Canada's status as a key supplier of battery materials due to its proximity and trading relationship with the US.

Today, the company revealed its half-year results, highlighting several important achievements over the past six months.

The company has launched a pre-feasibility study (PFS) for a Lithium Carbonate plant in October at NAL, which is targeting 2027 as its potential opening date - contingent upon the results of the PFS.

Lithium Carbonate is an essential element used in the production of battery cells and until recently there were only a few refineries operating outside of China and South America. In addition to the PFS, it has also been exploring the Vallee Lithium Project located in Quebec alongside Jourdan Resources Ltd with spodumene found in abundance ranging from 0.88 to 1.63pc.

SYA recently announced the acquisition of rights to a concession in Moblan, Northern Quebec, for C$44.6mn. A Preliminary Feasibility Study (PFS) on a mine in the area is slated to be completed by May, with a Definitive Feasibility Study following shortly after in September. Based on the findings of these studies, SYA expects to begin spodumene production from this area as early as 2027.