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Nemaska Lithium Inc.
Summary
| Project: | Whabouchi | |
|---|---|---|
| Deposit: | Whabouchi | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 7/31/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 31-7-2019: Nemaska Lithium Inc. announces a Feasibility Study report for its Whabouchi deposit at the Whabouchi project. Updated Technical report results incl. post-tax NPV (8%) of CAD$2.3B, IRR of 27.4%. Quebec City, Québec, July 31, 2019 – Nemaska Lithi | |
| Resources: | (Reserve, P+P): 36.6 Mt @ 1.30% Li2O | |
| CP/QP: | [Resources]: Not stated (SGS Canada Inc.) | |
| ABSTRACT: | Quebec City, Québec, July 31, 2019 – Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) releases the results of its updated National Instrument (NI) 43–101 Technical Report (the “Report”) on the Whabouchi mine (“Whabouchi”) and Shawinigan electrochemical plant (the “Plant”) (together, the “Project”). Nemaska Lithium’s management team retained the services of engineering firms to make this Report (as defined in NI 43–101), following the Corporation’s funding gap announcement of February 13, 2019. “We are pleased to inform our shareholders that the Project’s economics remain very robust after a thorough review of the capital investment (‘CAPEX’) and overall operating costs (‘OPEX’) by the Qualified Persons (“QP”) working closely with our strengthened owner’s team, as reflected by the Report. It was produced using the most recent detailed engineering designs for both sites that provide significant insight into key operational estimates,” said Guy Bourassa, President and CEO of Nemaska Lithium. “Now that we have an updated timeline and budget, and that we have received and accepted a letter of intent from Pallinghurst for an equity investment of up to CAD 600 M, we are confident that we have in hand a solid plan for the future as well as a strong team in place to resume construction and successfully deliver the Project once the required financing is completed.” Assuming a 100% Project equity financing, the Report shows a before-tax IRR % and NPV (@ 8% discount) of 30.3% and CAD 3.1 B, respectively and an after-tax IRR % and NPV (@ 8% discount) of 27.4% and CAD 2.3 B, respectively. These NPV and IRR calculations exclude sunk costs of ~CAD 340 M, as per NI 43–101 standards. It is assumed that the financing would be in place in order for construction to resume in November 2019, which would lead to a start of production in June 2020 for Whabouchi and in November 2021 for the Plant. | |
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