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Nemaska Lithium Inc.
Summary
| Project: | Whabouchi | |
|---|---|---|
| Deposit: | Whabouchi | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 1/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 9-1-2018: Nemaska Lithium Inc. announces a Feasibility Study report for its Whabouchi deposit at the Whabouchi project. Updated feasibility study results incl. post-tax NPV (8%) of US$2.4B, IRR of 30.5%, LOM of 33yrs. Québec, January 9, 2018. Nemaska Lith | |
| Resources: | (Reserve, P+P): 36.7Mt @ 1.4% Li2O | |
| CP/QP: | [Overall Report]: Rock Gagnon (Met-Chem Canada Inc.) | |
| ABSTRACT: | Québec, January 9, 2018. Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation” or “we” or “us”) (TSX: NMX) (OTC: NMKEF) is pleased to announce the results of its 2018 Feasibility Study on the Whabouchi Mine and Concentrator located in the Eeyou Istchee James Bay territory in Québec, and on the Hydromet Plant located in Shawinigan, Québec. A conference call on the 2018 Feasibility Study will be held on Tuesday, January 9, 2018 at 11 am Eastern Time. Conference call details are set out at the end of this press release. All amounts are in Canadian dollars, except where otherwise indicated, and some figures are also rounded for presentation. “With more than a year of experience in building, commissioning and operating the Hydromet Phase 1 Plant in Shawinigan and the production of over 1,050 t of above 6% spodumene concentrate from a bulk sample at the Whabouchi Mine, our confidence in the process at both the Mine and Hydromet Plant has increased and we believe our project is significantly de-risked. As well, the updated resource block model following the 2016 and 2017 drilling campaign has allowed us to increase the Whabouchi mine life from 26 to 33 years,” said Guy Bourassa, President and CEO of Nemaska Lithium. “The 2018 Feasibility Study takes into consideration our operational experience and our current off-take contracts as well as on-going discussions with potential customers and our assessment of the lithium market. Accordingly, we have increased the overall capacity of the commercial project by 20% and added flexibility to the Hydromet Plant, increased the lithium carbonate production capacity up to 16,000 t/y while maintaining the flexibility to produce up to 100% of lithium hydroxide, as both products are in high demand and the known lithium carbonate sales price is now very similar to that of lithium hydroxide.” | |
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