NEMASKA Lithium a Train wreck

Train wreck

That’s how analysts are describing NEMASKA Lithium’s Whabouchi Lithium Project worth and estimated C$1.1Billion.

Over promising and under-delivering has proved costly for long term shareholders as NEMASKA’s share price has tanked 50% this year alone.

Nemaska Lithium now needs to raise an estimated C$375 million to complete construction on both the mine and electro-chemical plant.

Here are more details of what happened, according to the company.

The additional funding is largely related to installation and indirect costs, said the company. Labor costs and Installation costs during winter were main contributors.

“The revised overall project cost reflects a more precise outlook on installation costs and other key variables to the completion of our project,” Nemaska president and CEO Guy Bourassa said in a media statement.

“We now have a better understanding on the remaining scope of the project, estimated budget and current market conditions.”

“Our objective remains to close the required financing on time to stay on target to complete mine construction in October 2019, in order to make the first shipment in December 2019, followed by the start-up of the Shawinigan facility the year after,” Bourassa said.

This recent announcement comes at a time when the already bruised and battered Lithium market could do with a few good new stories.

Lithium Week in Review – EP 04 Best Lithium in the World, Galan Lithium, Lithium Australia, Covelant Lithium


lithiumwa.com.au


Galan Lithium Ltd find highly conductive brine

Australian listed Galan Lithium Ltd (ASX:GLN) has today requested a trading halt, ahead of news related to the assay results from its Candelas Lithium Brine Project.  The company revealed last week that it had discovered a highly conductive intersection of brine at one of the Argentinian projects drill holes. The bring conductivity exceeded the instrument … Read more…


lithiumwa.com.au

Lithium Australia completes aerial survey at Youanmi in Western Australia

Lithium Australia NL expanded its Australian based Lithium holdings by acquiring the prospective Youanmi Lithium and vanadium project. Which is located about 450 kilometers North-East of Perth WA. “Recently, Southern Geoscience (‘SGC’) completed high-resolution aeromagnetics and radiometrics at Youanmi.” “Modelling of the data will be completed within the next two weeks. It will then be … Read more…


lithiumwa.com.au

Environment a high priority for Covalent Lithium

A public environmental review has identified two vulnerable native animals near the proposed Mt Holland lithium mine in the Goldfields, currently being developed by SQM and Kidmann Resources under the newly formed partnership Covalent Lithium. The environmental document produced by the developers has found that there have been a number of sightings of the rare … Read more…



7 Reasons why WA’s lithium is the best in the world

Western Australia is host to one of the most valuable hard rock spodumene resources across the planet. The Greenbushes Lithium mine, located in the South West region of Western Australia is currently operated by Chinese owned Talison Lithium and American based Albermarle. Although the mine has operated for over 30 years, there has recently been …

Environment a high priority for Covalent Lithium

A public environmental review has identified two vulnerable native animals near the proposed Mt Holland lithium mine in the Goldfields, currently being developed by SQM and Kidmann Resources under the newly formed partnership Covalent Lithium.

The environmental document produced by the developers has found that there have been a number of sightings of the rare Malleefowl and Chuditch, including active Malleefowl mounds.  

Image source: bushheritage.org.au/species/malleefowl

Despite the report findings, Covalent Lithium is confident that it can take all necessary steps to mitigate any impact on the threatened population and are looking to engage the Goldfields Land and Sea Council to assist in their conservation strategy.  

The Mt Holland project plays a vital role in the state’s lithium plans, and the $1 billion project has been granted lead agency status by the government.  The project is expected to create up to 700 jobs during construction and retain around 300 during its the 40-year mine life.

Lithium Australia Completes Survey of Lithium Pegmatite – Medcalf

In 2018 Lithium Australia NL (ASX: LIT) identified lithium pegmatite at Medcalf which is part of the Lake Johnston Project.

Lithium Australia’s (ASX:LIT) has announced it has identified up to 7.1% lithium oxide from assays at its 100% owned Medcalf prospect, which is part of the Lake Johnson project 400km east of Perth.” – https://www.lithiumwa.com.au/lake-johnson-is-where-lithium-dreams-are-made-off/

The 2018 results reported show: grades ranging from 3.07% Li2O up to 4.78% Li2O, and a spodumene-only specimen sample grading 7.15% Li2O.

The January 2019 exploration carried out field mapping, rock-chip sampling and geochemical soil sampling. The samples taken will expect results in March 2019.

Outotec to supply Australian Lithium market

Outotec, one of the mineral processing industry’s leading technologies and services companies has recently been awarded an AU$19 million contract to deliver their filtration technology for an Australian based lithium hydroxide processing plant. The project scope includes the design and delivery of Outotec’s patented Larox pressure filters, as well as installation and commissioning advisory services.

Outotec Larox PF pressure filters are fully automatic recessed-plate diaphragm filters. The continuous filter cloth ensures thorough cloth washing and efficient cake discharge from each chamber at every cycle. The company boasts a higher capacity than their competitors with proven efficiency and reliability.

Kimmo Kontola, Outotec’s Executive Vice President said the company was well placed to support the upcoming lithium market.

“We are pleased to cooperate with our customer in producing a world class project. At Outotec, we have expertise to offer sustainable solutions for extracting lithium from brines and spodumene ores up to battery grade lithium salts. We are well positioned in this growing market for lithium processing technologies,”