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Message: Nemaska Lithium Processes Whabouchi Concentrate at Phase 1 Plant, Provides Project Financing Update

 

 
2017-10-10 11:37:52 AM ET (MT Newswires)
   
   

11:37 AM EDT10/10/2017 (MT Newswires) -- Nemaska Lithium Inc. (NMX.TO) has received flotation concentrate at an average grade of 6.3% Li2O. The flotation concentrate received originates from mineral fines (a more finely crushed material that is not suitable for DMS processing) that was processed by SGS Lakefield via a flotation circuit. In addition, Nemaska Lithium has produced a Dense Media Separation (DMS) concentrate at an average grade of 6.3% Li2O.

Phase 1 Plant Thermal Roasting Commissioning

The company has begun processing spodumene concentrate from the Whabouchi mine through the thermal roasting section (calcination and acid baking) of the Phase 1 Plant. It is expected to take about three to four weeks to build an inventory of lithium sulfate to begin processing into battery grade lithium hydroxide. Processing will follow once there is a sufficient working inventory.

Lithium Hydroxide Production from Customer Lithium Sulfate

To date, Nemaska Lithium has produced 20 tonnes of battery grade lithium hydroxide for a customer using the customer's lithium sulfate solution as the primary source of raw material. The customer has approved the quality of the lithium hydroxide received. The company has also identified numerous potential clients which have requested lithium hydroxide and lithium carbonate samples from the Phase 1 Plant. Over the course of the next few months, Nemaska Lithium will continue processing spodumene concentrate to produce sufficient samples of lithium salts to engage potential clients that have asked to evaluate and qualify products.

Project Financing

The company is currently evaluating a number of financing alternatives for the project financing including debt (from private lenders as well as traditional large banks) and/or a strategic investment either at the Company or the project level. During the project financing due diligence, several independent engineering firms evaluated the project from the mine, concentrate to final lithium salts production and submitted technical reports to the project financiers.

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