http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Fri, 25 May 2018 05:37:40 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Sayona Mining finalises lithium processing flow sheet after completing pilot program ]]> http://www.proactiveinvestors.com.au/companies/news/197407/sayona-mining-finalises-lithium-processing-flow-sheet-after-completing-pilot-program-197407.html Sayona Mining Ltd (ASX:SYA) has completed the operation of its pilot plant program in Canada in preparation for completion of a definitive feasibility study (DFS).

The pilot plant operated for over 100 hours and produced over 400 kilograms of spodumene concentrate.

Feed samples for the pilot plant were taken from the Authier project representing potential future mining material.

The objectives of the piloting program were to produce a 6% lithium oxide concentrate at recoveries of greater than 80%.

READ: Sayona Mining raising up to $4 million in rights offer to support lithium strategy

Dan O’Neill, Managing Director, commented “The company is pleased with the excellent results achieved during the program, enabling the final design of the plant for the DFS.

“The program assists in de-risking the metallurgical parameters for the plant construction, commissioning and ramp-up periods.

“Over the next six months, the company will continue to undertake further testing targeting improvements to the operating parameters of the plant, including a testing program at the McGill University.”

Work continues towards DFS completion

The optimised pilot flow sheet was able to achieve a concentrate grading 6.0% lithium oxide at a 79% recovery.

The pilot program has confirmed the final process flow sheet and operating parameters for the DFS which is expected to be completed late in the June quarter.

Further testing will continue over the next six months targeting further optimisation and improvements to the flow sheet and operating parameters.

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Tue, 22 May 2018 09:56:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197407/sayona-mining-finalises-lithium-processing-flow-sheet-after-completing-pilot-program-197407.html
<![CDATA[News - Sayona Mining raising up to $4 million in rights offer to support lithium strategy ]]> http://www.proactiveinvestors.com.au/companies/news/196454/sayona-mining-raising-up-to-4-million-in-rights-offer-to-support-lithium-strategy-196454.html Sayona Mining Ltd (ASX:SYA) intends to raise almost $4 million in an entitlement issue to eligible shareholders to advance its lithium development strategy in Canada.

The pro rata renounceable entitlement issue follows a share placement at 5.1 cents per share which has been supported by domestic and institutional funds to raise $11 million.

READ: Sayona Mining’s pilot plant operations gather pace for lithium project in Canada

Patersons Securities Limited is lead manager to the rights offer which is not underwritten.

It is made on the basis of one new share for every 22 shares at a price of 5.1 cents per share with one free attaching new option to be issued for every two new shares issued.

The $15 million in total funds raised will be used to fund the further assessment of the company’s flagship Authier Lithium Project in Quebec.

Focus on Authier DFS

Sayona’s primary focus is centred on completing a definitive feasibility study (DFS) this year.

Funds will also be directed to exploration of the Tansim and Mallina lithium projects and for working capital.

The timeline lists Thursday, May 24, 2018, as the expected closing date and May 31 as the expected issue date.

READ: Sayona Mining secures $11 million in placement for lithium development

In relation to the placement, Sayona’s CEO Corey Nolan said: “Funds will be applied to finalising pre-construction activities, assessing the value-adding downstream potential and realising value from the extensive portfolio of lithium properties.”

Lithium resource increase

Sayona increased the Authier lithium JORC-compliant resource by 12% to 209,476 tonnes of contained lithium oxide compared to the November 2017 estimate of 186,939 tonnes.

Authier’s resource now totals 20.46 million tonnes at 1.02% lithium oxide and 86% of this is in the measured and indicated categories.

After the DFS is completed Sayona plans to compile a new JORC-compliant ore reserve estimate.

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Mon, 07 May 2018 09:18:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196454/sayona-mining-raising-up-to-4-million-in-rights-offer-to-support-lithium-strategy-196454.html
<![CDATA[News - Sayona Mining secures $11 million in placement for lithium development ]]> http://www.proactiveinvestors.com.au/companies/news/195213/sayona-mining-secures-11-million-in-placement-for-lithium-development-195213.html Sayona Mining Ltd (ASX:SYA) has received commitments to raise $11 million as part of a share placement priced at 5.1 cents.

Furthermore, the company intends to undertake a rights issue following the placement to raise an additional $4 million.

Funds raised will be used primarily to advance the flagship Authier Lithium Project in Canada towards production.

READ: Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project

Sayona’s CEO Corey Nolan said: “The company is very pleased to have attracted domestic and institutional funding support to continue advancing Authier towards production.

“The funds will be applied to finalising the pre-construction activities, assessing the value-adding downstream potential and realising value from its extensive portfolio of lithium properties.”

Advancing towards production

Funding will advance the Authier lithium project towards production through:

• Finalisation of the definitive feasibility study (DFS), engineering and design;
• Completion of the permitting activities including public consultation;
• Purchasing of certain long-lead capital items; and
• Commencement of a downstream processing feasibility study.

Funding will also go towards exploration activities at the Tansim and Mallina lithium properties.

Tansim is only 80 kilometres from Authier whereas Mallina is in the Pilbara region of Western Australia.

READ: Sayona Mining boosts lithium bounty by 12% at Canadian project

Last week, Sayona increased its lithium JORC resource by 12% at the Authier Lithium Project.

The project’s resource estimate increased to 209,476 tonnes of contained lithium oxide compared to the November 2017 estimate of 186,939 tonnes.

Authier’s resource now totals 20.46 million tonnes at 1.02% lithium oxide and, importantly, 86% of the new resource is in the measured and indicated categories.

After the DFS is completed a new JORC-compliant ore reserve estimate will be compiled.

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Wed, 18 Apr 2018 13:44:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195213/sayona-mining-secures-11-million-in-placement-for-lithium-development-195213.html
<![CDATA[News - Sayona Mining enters trading halt ahead of capital raising to fast track Authier Lithium Project. ]]> http://www.proactiveinvestors.com.au/companies/news/194991/sayona-mining-enters-trading-halt-ahead-of-capital-raising-to-fast-track-authier-lithium-project-194991.html Sayona Mining Ltd (ASX:SYA) was placed in a trading halt this morning at the request of the company.

The developer of the Authier Lithium Project in Canada will be making an announcement regarding a capital raising in the coming days.

Active pre-construction period in 2018

Sayona is looking to tick all of the pre-construction boxes at the Authier project in 2018.

This includes the completion of studies and permitting applications precedent to the award of a mining lease.

READ: Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project

The company is also looking to complete its definitive feasibility study in mid-2018, allowing it to move to the engineering and design stage.

Offtake agreements and financing

The other key matters which management will be looking to make progress on, probably in the latter part of 2018, are offtake agreements and financing.

A successful capital raising would assist the company in gaining support from offtake partners, as there is usually an expectation on their behalf that the miner is financially robust.

Strengthening its financial position will also assist in negotiating financing which could be a mix of debt and equity.

Management has stated its intention to accelerate the project to fast track towards production and cash flow, and the proposed capital raising should assist it in meeting this goal.

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Mon, 16 Apr 2018 09:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194991/sayona-mining-enters-trading-halt-ahead-of-capital-raising-to-fast-track-authier-lithium-project-194991.html
<![CDATA[News - Sayona Mining’s pilot plant operations gather pace for lithium project in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/194901/sayona-minings-pilot-plant-operations-gather-pace-for-lithium-project-in-canada-194901.html Sayona Mining Ltd (ASX:SYA) has completed the batch and locked cycle phase of the pilot plant program for its Authier Lithium Project in Quebec, Canada.

Core collected during a phase III drilling program in December 2017 is being used in the test program being carried out by SGS Canada at Lakefield, Ontario.

During batch and locked cycle testing, Sayona achieved concentrate grades of 6% at metallurgical recoveries of 80%.

READ: Sayona Mining starts pilot plant tests to produce lithium carbonate concentrate

The batch and locked cycle phase was carried out to establish the optimal conditions for the continuous pilot plant program. The pilot plant operations have now commenced.

Pilot plant in operation

The objectives of the pilot plant program are to confirm the flowsheet and process parameters for concentrate production and to produce engineering data for equipment sizing and plant design.

Sayona is also aiming to generate about 500 kilograms of spodumene concentrate for downstream testing and marketing purposes.

Five tonnes of mineralised pegmatite to be processed through the pilot plant

The pilot program involves stage-crushing the ore to about 3.35 millimetres.

The crushed ore then passes through a grinding mill, cyclones for de-sliming, magnetic separation for iron removal, mica and spodumene flotation.

About five tonnes of mineralised pegmatite will be processed through the pilot plant. The plant will operate for a minimum of 100 hours at a feed rate of 50 kilograms per hour.

READ: Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project

The results of the pilot program are expected to be available by the end of April and will be incorporated into the definitive feasibility study (DFS) which will be completed during Q2 2018.

On completion of the pilot program, optimisation work will continue with the objective of maximising metallurgical recoveries and de-risking the metallurgical performance of the full-scale operations.

READ: Sayona Mining boosts lithium bounty by 12% at Canadian project

Sayona recently upgraded the project’s resource to 209,476 tonnes of contained lithium oxide compared to the November 2017 estimate of 186,939 tonnes.

The project already has an impressive pre-feasibility study featuring a pre-tax valuation of $227 million for a start-up capital expenditure of $65 million.

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Fri, 13 Apr 2018 12:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194901/sayona-minings-pilot-plant-operations-gather-pace-for-lithium-project-in-canada-194901.html
<![CDATA[News - Sayona Mining boosts lithium bounty by 12% at Canadian project ]]> http://www.proactiveinvestors.com.au/companies/news/194801/sayona-mining-boosts-lithium-bounty-by-12-at-canadian-project-194801.html Sayona Mining Ltd (ASX:SYA) has boosted its lithium bounty by 12% at the Authier Lithium Project in Quebec, Canada.

The project’s resource estimate has been increased to 209,476 tonnes of contained lithium oxide compared to the November 2017 estimate of 186,939 tonnes.

Authier’s resource now totals 20.46 million tonnes at 1.02% lithium oxide and, importantly, 86% of the new resource is in the measured and indicated categories.

READ: Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project

Sayona is encouraged by the expanded resource and believes there is potential to expand it through further drilling.

Shares are up 7% intra-day to 6 cents.

The new mineral resource will be included in the definitive feasibility study (DFS), which is underway.

Ore reserve to be compiled

After the DFS is completed a new JORC-compliant ore reserve estimate will be compiled.

About 98% of the resource is from the Authier Main deposit with the remainder from Authier North pegmatite.

The updated resource includes in-pit, infill mineralisation in the eastern and central part of the Authier Main resource.

It also includes a depth extension of the Main Authier pegmatite in the west zone.

In addition, the Northern Pegmatite resource has been expanded to include mineralisation from phase III drilling which extended the mineralised strike from 300 metres to 500 metres.

Both deposits remain open in all directions.

READ: Sayona Mining brings experienced personnel on board as it moves towards construction

A pre-feasibility study has confirmed the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility.

Authier deposit will be mined by open cut methods enhanced by the shallow and thick nature of the mineralisation, allowing spodumene ore to be processed from the start of mining.

The Authier project area comprises 20 mineral claims totalling 674.89 hectares.

It extends 3.4 kilometres in an east-west direction and 3.1 kilometres in a north-south direction.

Authier is 45 kilometres northwest of the city of Val d’Or, a major mining service centre, which is about 500 kilometres northwest of Montreal.

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Thu, 12 Apr 2018 10:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194801/sayona-mining-boosts-lithium-bounty-by-12-at-canadian-project-194801.html
<![CDATA[News - Sayona Mining paves the way for expanding resources and reserves as it moves towards DFS ]]> http://www.proactiveinvestors.com.au/companies/news/194564/sayona-mining-paves-the-way-for-expanding-resources-and-reserves-as-it-moves-towards-dfs-194564.html Sayona Mining Ltd (ASX:SYA) has released promising assay results from its phase III drilling program at the Authier Lithium Project in Quebec, Canada.

Drilling has extended mineralisation at the Authier North pegmatite from 300 metres to 500 metres in strike length as well as at depth.

Foundation for expanding resource and reserves

Management believes the new drilling has the potential to expand the size of the existing mineral resource and ore reserve, and the mineralisation remains open in all directions.

The drilling has expanded high-grade zones of spodumene mineralisation, including 25 metres at 1.48% lithium.

Another impressive return was 37 metres at 1.03% lithium from 255 metres.

The deep extensions of the main pegmatite are demonstrating excellent grades and widths.

New resource to be incorporated into DFS

Infill drilling successfully targeted areas of low drilling density with the objective of upgrading the resource categories.

A new JORC resource incorporating all the new assay results is being prepared and will be incorporated into the definitive feasibility study (DFS) which is underway.

READ: Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project

A number of holes testing the eastern extensions of the main Authier pegmatite at shallow levels were stopped due to the presence of a fault zone.

These will be tested further in the course of a future drilling program. 

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Tue, 10 Apr 2018 08:57:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194564/sayona-mining-paves-the-way-for-expanding-resources-and-reserves-as-it-moves-towards-dfs-194564.html
<![CDATA[News - Sayona Mining moves quickly towards definitive feasibility study at Authier Lithium Project ]]> http://www.proactiveinvestors.com.au/companies/news/194282/sayona-mining-moves-quickly-towards-definitive-feasibility-study-at-authier-lithium-project-194282.html Sayona Mining Ltd’s (ASX:SYA) main focus since mid-2017 has been the completion of studies required to start development of the Authier Lithium Project in Canada.

While the company has predominantly lithium assets in Western Australia, these are relatively early stage.

By comparison, management is targeting late 2019/early 2020 for first production from Authier.

Sayona upgraded its Authier resource estimate in June 2017, followed by an increase in the ore reserve estimate in December.

The Authier North deposit has been included in an updated resource estimate of 18.35 million tonnes at 1.02% for 186,953 tonnes of lithium.

88% in measured and indicated categories

Significantly, 88% of the estimate is in the measured and indicated categories and there is potential to expand the resource through further drilling.

This information contributed to an impressive pre-feasibility study featuring a pre-tax valuation of $227 million for start-up capital expenditure of $65 million.

These figures are based on sales of 1.6 million tonnes of concentrate over 17 years.

Underlying earnings of $38 million per annum

Based on these metrics, the project would generate annual earnings before interest, tax, depreciation and amortisation (EBITDA) of $38 million.

Applying a price of US$614 per tonne, the average operating margin would be US$287 per tonne.

The projected capital payback period is 30 months.

DFS a potential share price catalyst

However, these figures will be refined as the company progresses with its definitive feasibility study (DFS) which is expected to be completed by the second quarter of 2018.

Given this will provide more concise financial metrics and pave the way for potential offtake agreements, financing and decision to mine, it could be a significant share price catalyst.

On the offtake front, Sayona has received a strong show of confidence from a major battery materials producer in the form of a non-binding memorandum of understanding (MoU).

Given the agreement with Huan Changyuan occurred prior to completion of the pre-feasibility study, the group’s interest suggests it is cognisant of the prospectivity of the Authier project.

Subsidiary of China Minmetals Group

Huan Changyuan, a subsidiary of Fortune 500 company, China Minmetals Group, is a battery research, development, and production company.

In 2016, it produced more than 16,000 tonnes of battery cathode materials and the group is expanding production capacity to 36,000 tonnes in 2018.

The main products produced include lithium cobalt oxide and lithium manganese oxide batteries, and ternary (combination of three) composite lithium-ion cathode materials.

The MoU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project.

Potential offtake, development and funding opportunities

Under the terms of the agreement, Changyuan could purchase up to 100,000 tonnes of spodumene concentrate per annum.

The MoU could also lead to the development of partnerships for the value-adding of the concentrates into lithium carbonate and/or lithium hydroxide in either China or Canada.

Another benefit of the agreement could be funding and investment opportunities for Sayona and the Authier project.

It is also worth noting that lithium concentrate produced from Authier will be classed as chemical grade specification.

The principal markets for chemical grade concentrates are fairly broad and include battery manufacturing, lubricants, aluminium smelting and pharmaceuticals.

Benefits of nearby infrastructure

The Authier project is 45 kilometres northwest of Val d’Or, a major mining service centre in the Province of Quebec.

It is easily accessed by a rural road network connecting to a national highway a few kilometres east of the project site.

This is significant given the company is considering direct sales of concentrate to converters that produce lithium products suitable for global battery markets.

Tansim only 80 kilometres from Authier

Sayona has no doubt been buoyed by its success at Authier, perhaps prompting management’s recent decision to undertake a staged acquisition of the Tansim project.

Tansim lies about 80 kilometres southwest of Authier and comprises 65 mineral claims across 12,000 hectares.

The area is prospective for lithium, tantalum, and beryllium.

READ: Sayona Mining survey shows lithium potential at new Tansim project, close to Authier

Chief executive officer Corey Nolan said: “Sayona is planning to commence exploration as soon as the winter snow has melted and it can get clear access to the property.

"Tansim demonstrates stand-alone potential but could be developed as a complementary satellite operation to Authier

“The company will draw on its significant experience and expertise in lithium geology in the region, developed through more than 20,000 metres of drilling and exploration at Authier.”

Sayona has strengthened its technical team as it approaches the important construction and production stages at its Authier Lithium Project Québec.

READ: Sayona Mining brings experienced personnel on board as it moves towards construction

Jarrett Quinn and Jean-Pierre Landry have been appointed as project engineer and project director respectively.

Quinn is an experienced mineral processing engineer and hydro-metallurgist who has experience in processing spodumene in Canada.

He will manage the pilot plant testing program and the process plant design for the DFS, as well as engineering of the Authier lithium process plant.

Landry is a qualified civil engineer who has been involved in the construction industry for more than 30 years, 17 of which have been in project management with mining companies.

Their appointment comes at a stage when the company is conducting a test program by processing feed samples through a pilot plant.

READ: Sayona Mining starts pilot plant tests to produce lithium carbonate concentrate

The objective of the pilot program is to further refine the design and confirm the operating parameters for the Authier processing plant.

This is being done in order to de-risk the plant construction, commissioning and ramp-up, indicative of management’s measured approach to date.

Sayona aims to produce a 6% lithium carbonate concentrate at recoveries of greater than 80%.

Data collected during the pilot program will invaluable in completing the DFS.

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Thu, 05 Apr 2018 07:21:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194282/sayona-mining-moves-quickly-towards-definitive-feasibility-study-at-authier-lithium-project-194282.html
<![CDATA[News - Sayona Mining brings experienced personnel on board as it moves towards construction ]]> http://www.proactiveinvestors.com.au/companies/news/193590/sayona-mining-brings-experienced-personnel-on-board-as-it-moves-towards-construction-193590.html Sayona Mining Ltd (ASX:SYA) has strengthened its technical team as it approaches the important construction and production stages at its Authier Lithium Project in Québec, Canada.

Jarrett Quinn and Jean-Pierre Landry have been appointed project engineer and project director respectively.

The appointments complement the development team at a time when the company is rapidly progressing the Authier definitive feasibility study (DFS).

This will include engineering design activities for the project development.

DFS to be completed in second quarter

Sayona anticipates completing the DFS in the second quarter of 2018, positioning the company to commence production in early 2020.

Jarrett Quinn is a mineral processing engineer and hydro-metallurgist who has experience in processing spodumene in Canada.

Quinn will manage the pilot plant testing program and the process plant design for the DFS, as well as engineering of the Authier lithium process plant.

Landry brings 30 years’ experience

Landry is a qualified civil engineer who has been involved in the construction industry for more than 30 years, 17 of which have been in project management with mining companies.

His areas of expertise cover cost estimation, scheduling, value engineering, first nations relationship and construction management.

He will be deeply involved in the ongoing DFS and will manage the project delivery schedule. 

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Thu, 22 Mar 2018 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193590/sayona-mining-brings-experienced-personnel-on-board-as-it-moves-towards-construction-193590.html
<![CDATA[News - Sayona Mining survey shows lithium potential at new Tansim project, close to Authier ]]> http://www.proactiveinvestors.com.au/companies/news/193509/sayona-mining-survey-shows-lithium-potential-at-new-tansim-project-close-to-authier-193509.html Sayona Mining Ltd (ASX:SYA) has completed an airborne geophysics survey at the Tansim Lithium Project in Quebec, Canada.

The company embarked on a staged acquisition of Tansim in January.

Tansim is about 82 kilometres from the company’s Authier Lithium Project in Québec where it has a JORC resource of 17.4 million tonnes at about 1% lithium.

READ: Sayona Mining expands lithium footprint in Canada

A prefeasibility study has been completed at Authier which indicates the company could establish a project generating annual underlying earnings of $38 million.

Following the company’s success with the Authier project, the reasonably close proximity of Tansim is of relevance.

Knowledge of Authier geology is beneficial

Management is keen to recommence exploration when weather conditions allow.

Corey Nolan, chief executive officer, said: “Sayona is planning to commence exploration as soon as the winter snow has melted and it can get clear access to the property.

“The company will draw on its significant experience and expertise in lithium geology in the region, developed through more than 20,000 metres of drilling and exploration at Authier.”

Surface mapping shows 9-kilometre long pegmatite

The survey has confirmed a strong east-west magnetic anomaly coincident with surface mapping of pegmatites over an area 9 kilometres long and up to 700 metres wide.

Mapping, sampling and drilling will be required to define the geometry of the pegmatites.

Near-term definition of drilling targets

The priority focus of the next exploration program planned in April is to define drilling targets at Viau Dallaire and Viau.

The former is a 300-metre long dyke, between 12 and 20 metres in thickness.

Three channel samples included 10.3 metres at 1.4% lithium and 19 metres at about 1% lithium.

Viau’s pegmatites have been mapped up to 200 metres in length and 30 metres in width with two separate channel samples returning grades of up to 2.7% lithium.

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Wed, 21 Mar 2018 13:22:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193509/sayona-mining-survey-shows-lithium-potential-at-new-tansim-project-close-to-authier-193509.html
<![CDATA[News - Sayona Mining starts pilot plant tests to produce lithium carbonate concentrate ]]> http://www.proactiveinvestors.com.au/companies/news/191673/sayona-mining-starts-pilot-plant-tests-to-produce-lithium-carbonate-concentrate-191673.html Sayona Mining Ltd (ASX:SYA) has started a pilot plant program aimed at producing lithium carbonate concentrate from the Authier Lithium Project in Canada.

Core collected during a phase III drilling program in December 2017 is being used in the test program being carried out by SGS Canada at Lakefield, Ontario.

Two composite pilot plant feed samples have been prepared to represent years 0 to 5 and years 5-plus of the operation, which aims to provide materials for lithium-ion battery production.

READ: Sayona Mining recommences lithium resource expansion drilling

Corey Nolan, chief executive officer, said: “The objective of the pilot program is to further refine the design and confirm the operating parameters for the Authier process plant.

“This is being done in order to de-risk the plant construction, commissioning and ramp-up.

“The company is focused on the rapid progression of the project towards production to capitalise on the strong projected price outlook for spodumene concentrates.”

Pegmatite ore collected during drilling

Circa 5.5 tonnes of mineralised pegmatite ore was collected during the drilling.

Diamond drill core was assayed and stage-crushed to the appropriate particle size to feed the pilot plant.

The flowsheet for the plant comprises grinding, de-sliming, magnetic separation, mica and spodumene flotation.

SGS has scheduled the plant to operate for 100 hours at an hourly feed rate of 50 kilograms.

Aiming for 6% lithium carbonate concentrate

The objective is to produce a 6% lithium carbonate concentrate at recoveries of greater than 80%.

Pilot plant testing will help finalise the flowsheet and processing parameters for spodumene concentrate production developed during the pre-feasibility study.

It will also produce engineering data for equipment sizing and plant design.

Spodumene concentrate generated will be used for downstream lithium carbonate testing and marketing purposes.

Definitive feasibility study planned

Data collected during the piloting program will be incorporated into a definitive feasibility study which is expected to be completed during the June quarter of 2018.

Authier Lithium Project is in a lithium producing region of Quebec.

SGS has extensive experience in developing spodumene concentration flowsheets.

Over the last 10 years, SGS has operated pilot plants for several Canadian hard rock lithium deposits.

READ: Sayona Mining expands lithium footprint in Canada

Sayona is an Australian-based company focused on sourcing and developing the raw materials required to construct lithium-ion batteries.

Its primary objective is developing the Authier Lithium Project in western Quebec.

Authier is an advanced, near-term development project with construction forecast to begin in the second half of 2018 and first production in late 2019.

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Thu, 15 Feb 2018 09:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191673/sayona-mining-starts-pilot-plant-tests-to-produce-lithium-carbonate-concentrate-191673.html
<![CDATA[News - Sayona Mining expands lithium footprint in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/190422/sayona-mining-expands-lithium-footprint-in-canada-190422.html Sayona Mining Ltd (ASX:SYA) is expanding its lithium footprint in Canada through the staged acquisition of the Tansim exploration project.

Tansim is 82 kilometres southwest of the company’s Authier Lithium Project and is in a lithium producing region of Quebec

The project comprises 65 mineral claims of 12,000 hectares, and is prospective for lithium, tantalum, and beryllium.

Pegmatites mapped over 9 kilometres

Pegmatites have been mapped over 9 kilometres with channel sampling intersecting up to

18.95 metres at 0.94% lithium carbonate and selective rock chips of between 2.04% and 2.87%.

READ: Sayona Mining recommences lithium resource expansion drilling

Corey Nolan, chief executive officer, said: “The company is excited to have another exciting lithium project in close proximity to the Authier project.

“Sayona will draw on its significant experience and expertise in lithium geology in the region, developed through more than 20,000 metres of drilling and exploration at Authier.

"Tansim demonstrates stand-alone potential but could be developed as a complementary satellite operation to Authier, where the company is completing a definitive feasibility study.”

Option agreement on property

The property is being acquired through an option agreement with Matamec Explorations Inc.

Sayona can obtain a 50% interest through expenditure of C$105,000 for claim renewal costs, as required by the Quebec Department of Natural Energy and Resources.

This amount is reduced by the exploration amount of up to C$65,000 completed before 31 January 2018.

Two stages to acquire 100%

A 100% interest can be earned through completing two stages over two years.

The first is investing C$200,000 in exploration and payment of C$100,000 in cash to Matamec within the first 12 months.

Stage II involves investing C$350,000 in exploration and paying C$250,000 in cash in the second year.

Sayona will be the operator of a joint venture between both parties to manage the property.

Once 100% is earned, Matamec receives a 2% net smelter return royalty from the payable metals extracted from the property.

Historical exploration has included mapping, sampling and geophysics.

Field activities planned

Sayona’s short-term focus exploration activities include reinterpretation of historic exploration and geophysical data until winter ends in April.

Field activities will comprise mapping and sampling of the pegmatites to define drilling targets.

Targets include Viau-Dallaire, a 300 metre long dyke, and Viau where pegmatites have been mapped up to 200 metres long and 30 metres wide.

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Tue, 23 Jan 2018 10:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190422/sayona-mining-expands-lithium-footprint-in-canada-190422.html
<![CDATA[News - Sayona Mining recommences lithium resource expansion drilling ]]> http://www.proactiveinvestors.com.au/companies/news/190050/sayona-mining-recommences-lithium-resource-expansion-drilling-190050.html Sayona Mining Ltd (ASX:SYA) has recommenced its phase III drilling program at the Authier Lithium Project in Quebec, Canada.

The objective of the diamond drilling is to expand and optimise the resource and reserve position for incorporation into the definitive feasibility study (DFS).

The previous phase II drilling program discovered the Northern Pegmatite which doesn’t outcrop at the surface and is now being targeted.

READ: Sayona Mining’s shares surge as it continues lithium-focused strategy

All of the new drilling data will be incorporated into the resource models for the DFS which is expected to be completed in the second quarter of 2018.

Any further resource and reserve increases have the potential to enhance the positive economics demonstrated in the recently completed optimised pre-feasibility study (PFS).

Developing the project in 2018

Sayona’s primary objective in early 2018 is to complete the studies required to commence the development of Authier.

In 2017, Sayona made substantial progress advancing Authier to the DFS stage.

This included completing two resource and reserve upgrades, optimisation of the process flow sheet, completion of environmental field studies, advancing mining lease permitting, and completion of the latest PFS.

The most recent PFS valued the project at C$221 million (A$227 million) based on a capital expenditure of C$65 million.

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Tue, 16 Jan 2018 08:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190050/sayona-mining-recommences-lithium-resource-expansion-drilling-190050.html
<![CDATA[News - Sayona Mining’s shares surge as it continues lithium-focused strategy ]]> http://www.proactiveinvestors.com.au/companies/news/189850/sayona-minings-shares-surge-as-it-continues-lithium-focused-strategy-189850.html Sayona Mining Ltd (ASX:SYA) is examining a number of new growth opportunities in the lithium sector, while it remains focused on developing the Authier Lithium Project in Canada.

The company’s shares were last trading 20% higher intra-day, at $0.12.

In 2017, the company made substantial progress advancing Authier to the definitive feasibility study (DFS) stage.

READ: Sayona Mining starts definitive feasibility study for Authier Lithium Project after positive prefeasibility

This included completing two resource and reserve upgrades, optimisation of the process flow sheet, completion of environmental field studies and an optimised pre-feasibility study (PFS).

Importantly, the PFS estimates a pre-tax net present value of circa $227 million based on a capital expenditure of circa $67 million.

The company is making significant progress on the DFS which is expected to be completed in the second quarter 2018.

Phase III drilling program to re-commence soon

The phase III drilling program at Authier will re-commence in the second week of January.

Sayona’s objective is to expand the resource and reserve for incorporation into the DFS.

The program will target extending Authier mineralisation in the east and west at shallow levels, and at Authier North.

A pilot metallurgy program will also commence in January utilising more than five tonnes of diamond drill core.

The data from the pilot program will be incorporated into the engineering and design of the process plant, and concentrate produced will be used for marketing and downstream testing purposes.

READ: Sayona Mining securing footprint in world-class Pilgangoora lithium district

In Western Australia, the company has built a substantial portfolio of lithium prospective tenements in the spodumene-rich Pilgangoora district.

A new pegmatite field containing spodumene was discovered at Mallina and will be the primary focus of exploration activities during 2018.

Exploring multiple growth opportunities in the lithium sector

The lithium market ended 2017 strongly, with demand driving robust spot and contract pricing.

Sayona is currently examining a number of new growth opportunities in the lithium sector.

These include new projects and value-adding of existing projects including the Authier downstream project which has demonstrated robust economics.

2018 could be a transformative year for Sayona as it evolves from the exploration-stage to the development-stage at Authier.

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Thu, 11 Jan 2018 15:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189850/sayona-minings-shares-surge-as-it-continues-lithium-focused-strategy-189850.html
<![CDATA[News - Sayona Mining securing footprint in world-class Pilgangoora lithium district ]]> http://www.proactiveinvestors.com.au/companies/news/189130/sayona-mining-securing-footprint-in-world-class-pilgangoora-lithium-district-189130.html Sayona Mining Ltd (ASX:SYA) is making the first stage option payment to Great Sandy Pty Ltd to acquire a 694 square kilometre package of six tenements in the world-class Pilgangoora lithium district of Western Australia.

The primary focus of exploration over Great Sandy in 2017 has been on the Mallina tenement, where spodumene has been identified.

Corey Nolan, chief executive officer, commented:

"The company is excited by the prospectivity of the Mallina project where new spodumene bearing pegmatites have been recently identified.

"Further exploration and drilling is required to better understand the mineralisation within the complex rare metal pegmatites.

"Mallina is a very prospective province in close proximity to other major spodumene deposits including Pilgangoora and Wodgina."

Option details

The option includes three other project areas comprising five tenements which have only been lightly explored and will be reviewed in detail during 2018.

The Great Sandy purchase terms include an option to acquire an 80% interest in all the tenements by making staged payments in cash or shares at Great Sandy’s election of $300,000 (current payment) within 12 months and $300,000 within 24 months and free carrying Grant Sandy to decision to mine.

At the decision to mine, Great Sandy can either elect to dilute or contribute to ongoing expenditure commitments.

Great Sandy can elect to convert the 20% interest to a 2% gross smelter royalty.

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Thu, 21 Dec 2017 13:37:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189130/sayona-mining-securing-footprint-in-world-class-pilgangoora-lithium-district-189130.html
<![CDATA[News - Sayona Mining targets lithium resource increase in the new year ]]> http://www.proactiveinvestors.com.au/companies/news/189060/sayona-mining-targets-lithium-resource-increase-in-the-new-year-189060.html Sayona Mining Ltd (ASX:SYA) aims to increase resources as part of a definitive feasibility study at the Authier Lithium Project in Quebec, Canada.

The study is expected to be completed in the second quarter of 2018.

Authier has a resource estimate of 18.35 million tonnes at 1.02% for 186,953 tonnes of lithium and 88% is in the measured and indicated categories.

READ: Sayona Mining starts definitive feasibility study for Authier Lithium Project after positive prefeasibility

Corey Nolan, chief executive officer, said: “The objective is to expand the size of the resource and reserve during the continuation of drilling in 2018.

“This would significantly enhance the positive economics demonstrated in the recent optimised pre-feasibility study.

“All new drilling data will be incorporated into the resource models for the definitive feasibility study.”

Phase III drilling program

Sayona is undertaking phase III drilling at the project.

The initial focus was collecting up to five tonnes of drill core for a pilot metallurgical testing program, which will start in early 2018.

After the Christmas break infill definition drilling will take place in the main resource zone aimed at reducing the life-of-mine waste to ore ratio.

The company hopes drilling will also provide better definition and potential expansion of the main ore body.

Further drilling will seek to expand the small resource at the northern pegmatite zone.

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Wed, 20 Dec 2017 14:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189060/sayona-mining-targets-lithium-resource-increase-in-the-new-year-189060.html
<![CDATA[News - Sayona Mining awards major definitive feasibility study components to Canadian consultants ]]> http://www.proactiveinvestors.com.au/companies/news/188617/sayona-mining-awards-major-definitive-feasibility-study-components-to-canadian-consultants-188617.html Sayona Mining Ltd (ASX:SYA) has awarded the main components of a definitive feasibility study (DFS) for the Authier Lithium Project in Quebec, Canada to consulting engineering firm BBA.

The independent Canadian consultants will carry out the mining, processing and infrastructure aspects of the DFS.

BBA has extensive experience in the Canadian mining industry and has been involved in feasibility studies for a number of lithium projects in Quebec.

READ: Sayona Mining starts definitive feasibility study for Authier Lithium Project after positive prefeasibility

A number of other DFS work programs, including geotechnical, transport and environmental, have been outsourced to specialist contractors.

Sayona aims to complete the DFS in the June quarter of 2018.

Two other work programs are progressing at Authier.

Phase III drilling underway

Phase III drilling is collecting a large sample for pilot metallurgical testing, geotechnical and further optimisation of the resource and reserve.

A pilot metallurgical program is being planned to operate at SGS Lakefield in late December and early January 2018.

This will involve processing between 5 and 10 tonnes of Authier ore.

Data collected will be used for engineering and design purposes for the DFS.

Concentrate produced will be used for the production of lithium carbonate and samples for potential purchasers.

READ: Sayona Mining shares surge on Chinese battery discussions

Corey Nolan, chief executive officer, said: “Authier is one of the more advanced lithium hard rocks projects in the world and has the potential to be in production in 2019/2020.

“In parallel with the DFS, mining licence applications, offtake contracts and financing activities are being advanced.

“Subject to receiving all the development permits, construction of Authier is expected to commence in the second half of 2018.”

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Tue, 12 Dec 2017 11:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188617/sayona-mining-awards-major-definitive-feasibility-study-components-to-canadian-consultants-188617.html
<![CDATA[News - Sayona Mining starts definitive feasibility study for Authier Lithium Project after positive prefeasibility ]]> http://www.proactiveinvestors.com.au/companies/news/188550/sayona-mining-starts-definitive-feasibility-study-for-authier-lithium-project-after-positive-prefeasibility-188550.html Sayona Mining Ltd (ASX:SYA) has started a definitive feasibility study (DFS) for the Authier Lithium Project in Canada.

This follows an optimised prefeasibility study (PFS) which the company said had demonstrated excellent returns including a net present value of C$221 million.

The PFS estimates an internal rate of return of 56% and capital payback period of 2.5 years with life of mine revenue estimated at C$1.322 billion.

It incorporates an updated ore reserve and mineral resource along with results from technical optimisation studies and realignment of pricing.

PFS demonstrates financial viability

The PFS demonstrates the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing spodumene concentrate.

The initial capital cost estimate to construct a 700,000 tonnes per annum process plant is C$64 million, C$2 million less than estimated in the February 2017 PFS.

These figures are based on sales of 1.6 million tonnes of concentrate over 17 years.

READ: Sayona Mining commences drilling to complete DFS

The DFS is expected to be completed early next year with a diamond drilling program underway to collect a large sample for pilot metallurgical tests and resource expansion objectives.

Authier now has proven and probable ore reserves of 11.66 million tonnes at a grade of 1.03% lithium oxide for 120,098 tonnes of lithium.

Authier North deposit included in resource

The Authier North deposit has been included in an updated resource estimate of 18.35 million tonnes at 1.02% for 186,953 tonnes of lithium.

Significantly, 88% of the estimate is in the measured and indicated categories and there is potential to expand the resource through further drilling.

The Authier project is 45 kilometres northwest of Val d’Or, a major mining service centre in the Province of Quebec.

It is easily accessed by a rural road network connecting to a national highway a few kilometres east of the project site.

READ: Sayona Mining receives further positive lithium metallurgical test results

Lithium concentrate produced from Authier will be classed as chemical grade specification.

The principal markets for chemical grade concentrates are battery, lubricants, aluminium smelting and pharmaceuticals applications.

Sayona is exploring a number of options for selling high-quality Authier spodumene concentrate.

This includes direct sales of concentrate to converters that produce lithium products suitable for global battery markets.

Positive outlook for lithium

The outlook for lithium demand is positive according to an estimated demand growth of circa 19% between 2016 and 2025.

This would represent total demand of 874,000 tonnes of lithium carbonate equivalent in 2025.

A major demand shift is driven by the increasingly critical role of lithium-ion battery technology for storage applications in the automotive, consumer electronics and electricity storage/distribution sectors.

READ: Sayona Mining shares surge on Chinese battery discussions

In November Sayona signed a non-binding memorandum of understanding (MoU) with leading China-based battery manufacturer, Huan Changyuan Lico Co Ltd.

Huan Changyuan, a subsidiary of the Fortune 500 company, China Minmetals Group, is a battery research, development, and production company.

The MoU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project.

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Mon, 11 Dec 2017 13:28:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188550/sayona-mining-starts-definitive-feasibility-study-for-authier-lithium-project-after-positive-prefeasibility-188550.html
<![CDATA[News - Sayona Mining receives further positive lithium metallurgical test results ]]> http://www.proactiveinvestors.com.au/companies/news/188015/sayona-mining-receives-further-positive-lithium-metallurgical-test-results-188015.html Sayona Mining Ltd (ASX:SYA) has received results from the third phase of metallurgical testing at its flagship Authier Lithium Project in Quebec, Canada.

Testing has demonstrated that unprocessed water from the project site can be utilised on a raw untreated basis.

Using the unprocessed water, flotation recoveries of over 80% and concentrate grades of greater than 6% lithium oxide were achieved.

READ: Sayona Mining commences drilling to complete DFS

A new diamond drilling program is underway and will provide drill core to be used on a pilot scale metallurgical testing program expected to commence in December.

The drilling and pilot metallurgy programs will be the last major work programs before completion of the definitive feasibility study (DFS) in early 2018.

Samples used in testing represent life-of-mine mineralogy

The objective of phase III metallurgical testing was to assess flotation performance with Authier project site water.

The new metallurgical testing program was undertaken with a new representative sample of the Authier deposit from drill core.

Importantly, the new sample represents the average grade and expected mineralogy of the deposit over the life-of-mine.

Phase III results support phase II results

The phase III program generated four samples, two using tap water and two using Authier site water.

Two tap water samples tested produced concentrate grades of 6.30% and 6.03% lithium oxide for 74% and 81% recoveries respectively.

The two site water samples tested produced concentrate grades of 6.10% and 5.95% lithium oxide with both samples recording an 80% recovery.

READ: Sayona Mining's successful lithium testwork to feed into updated PFS at Authier

The objective of the metallurgical programs is to improve on the February 2017 pre-feasibility study assumptions of a 5.75% concentrate at 80% metallurgical recovery.

Earlier this month Sayona signed a non-binding memorandum of understanding (MoU) with leading China-based battery manufacturer, Huan Changyuan Lico Co Ltd.

Huan Changyuan, a subsidiary of the Fortune 500 company, China Minmetals Group, is a battery research, development, and production company.

READ: Sayona Mining shares surge on Chinese battery discussions ]]>
Thu, 30 Nov 2017 14:45:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188015/sayona-mining-receives-further-positive-lithium-metallurgical-test-results-188015.html
<![CDATA[News - Sayona Mining commences drilling to complete DFS ]]> http://www.proactiveinvestors.com.au/companies/news/187125/sayona-mining-commences-drilling-to-complete-dfs-187125.html Sayona Mining (ASX:SYA) has commenced its Phase 3 drilling program at its flagship wholly owned Authier Lithium Project located in Quebec, Canada.

The diamond drilling program of up to 3,000 metres will collect up to 5 tonnes of drill core for a pilot metallurgical testing program.

The pilot program data will be used for inputs into the process plant design as part of the definitive feasibility study (DFS).

The program will also comprise of infill definition drilling within the main resource zone with the aim of reducing the current waste to ore ratio in that zone.

A potential expansion opportunity for drilling also exists in the northern pegmatite zone which intersected 7 metres at 1.36% lithium oxide from 15 metres in the last drilling program.

Finally, the program will see the completion of geotechnical drilling, which will enable finalisation of the pit wall slopes for the DFS.

The drilling and pilot metallurgy programs will be the last major work programs before completion of the DFS in early 2018.

Authier has a current Mineral Resource of 17.4 million tonnes grading 1.02% lithium oxide for 177,212 tonnes of contained lithium and an Ore Reserve of 10.2 million tonnes grading 1.02% lithium oxide for 103,725 tonnes of contained lithium.

Most recently, Sayona entered into an arrangement with Kalamazoo Resources (ASX:KZR) regarding its Pilbara gold exploration tenements.

READ NOW: Sayona Mining’s Pilbara neighbour looking for gold ]]>
Mon, 13 Nov 2017 18:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187125/sayona-mining-commences-drilling-to-complete-dfs-187125.html
<![CDATA[News - Sayona Mining’s Pilbara neighbour looking for gold ]]> http://www.proactiveinvestors.com.au/companies/news/187061/sayona-minings-pilbara-neighbour-looking-for-gold-187061.html Sayona Mining (ASX:SYA) has entered into an arrangement with Kalamazoo Resources (ASX:KZR) that allows Kalamazoo to assay its lithium samples for gold.

Kalamazoo is building a gold exploration portfolio in the Pilbara region of Western Australia.

The Sisters Project, owned by Kalamazoo, is adjacent to De Grey Mining (ASX: DEG), Segue Resources (ASX: SEG) and Sayona.

The deal between Sayona and Kalamazoo allows Kalamazoo to access soil samples collected from Sayona’s recent lithium exploration program.

Kalamazoo will assay the pulps for gold to identify areas of interest in the underexplored northern eastern portion of The Sisters tenement.

Sayona holds an option with Great Sandy Pty Ltd for the exploration rights for lithium over a tenement within The Sisters Project.

Recently, Sayona commenced preparations for upcoming field exploration for conglomerate hosted gold at its Deep Well project also located in the Pilbara region of Western Australia.

READ NOW: Sayona Mining initiates hunt for conglomerate gold in the Pilbara

Sayona’s primary strategy is to focus on completing the studies required to commence the development of the Authier Lithium Project located in Canada.

READ NOW: Sayona Mining shares surge on Chinese battery discussions ]]>
Mon, 13 Nov 2017 07:27:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187061/sayona-minings-pilbara-neighbour-looking-for-gold-187061.html
<![CDATA[News - Sayona Mining shares surge on Chinese battery discussions ]]> http://www.proactiveinvestors.com.au/companies/news/186984/sayona-mining-shares-surge-on-chinese-battery-discussions-186984.html Sayona Mining (ASX:SYA) has signed a non-binding memorandum of understanding (MoU) with leading China-based battery manufacturer, Huan Changyuan Lico Co Ltd.

Huan Changyuan, a subsidiary of the Fortune 500 company, China Minmetals Group, is a battery research, development, and production company.

The MoU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project.

Corey Nolan, CEO, commented: “The company has been exploring a number of options on how it best realises value from the Authier project.

“The alliance with Changyuan represents a timely, exciting path forward as the company moves towards completing its definitive feasibility and meeting its objective of producing first concentrates in 2019/2020, and capitalising on the projected high price environment for spodumene concentrates”.

MoU details

The MoU will support discussions exploring marketing, technical, and financial development options for the Authier lithium project including:

- Huan Changyuan purchasing up to 100,000 tonnes of spodumene concentrate per annum;
- Development partnerships for the value-adding of the concentrates into lithium carbonate and/or lithium hydroxide in either China or Canada; and
- Funding and investment opportunities for Sayona and the Authier project.

Huan Changyuan Lico Co Ltd

In 2016, Huan Changyuan produced more than 16,000 tonnes of battery cathode materials and is expanding its production capacity to 36,000 tonnes in 2018.

The main products produced include lithium cobalt oxide and lithium manganese oxide batteries, and ternary composite lithium-ion cathode materials. 

Background

Sayona’s primary strategy is to focus on completing the studies required to commence the development of the Authier Lithium Project, including the definitive feasibility study.

Authier is a near-term development project and cash-flow generation opportunity.

Sayona is also preparing to start a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

READ NOW: Sayona Mining’s shares rise on conglomerate gold opportunity in the Pilbara ]]>
Thu, 09 Nov 2017 15:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186984/sayona-mining-shares-surge-on-chinese-battery-discussions-186984.html
<![CDATA[News - Sayona Mining prepares for a new phase of drilling at lithium project in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/186911/sayona-mining-prepares-for-a-new-phase-of-drilling-at-lithium-project-in-canada-186911.html Sayona Mining Ltd (ASX:SYA) has lodged the drilling permits for the Phase 3 resource expansion drilling program at its Authier lithium project in Quebec, Canada.

The company is planning a diamond drilling program of up to 3,000 metres commencing in early November.

Sayona is currently completing an updated pre-feasibility study, due for completion in 3Q 2017, prior to the commencement of a definitive feasibility study (DFS).

Importantly, the drilling and pilot metallurgy programs are expected to be the last major work programs before completion of the DFS in early 2018.

Drilling a large sample for a pilot metallurgy program

Sayona’s primary objective of the drilling is to collect up to 5 tonnes of drill core for a pilot metallurgical testing program to be used as an input into the process plant design in the DFS.

The company will also infill drill within the main resource zone where the mineralisation is not well defined and is currently treated as waste, with the objective of reducing the waste to ore ratio.

Furthermore, Sayona will aim for a potential expansion of the northern pegmatite zone which intersected 7 metres at 1.36% lithium from 15 metres in the last drilling program.

The company is also planning to complete geotechnical drilling which will enable finalisation of the pit wall slopes for the DFS.

Exploration commencing over Pilbara conglomerate gold targets

Sayona is preparing to start a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

Last month, the company identified Fortescue aged rocks, which signal conglomerate-hosted gold potential within its Mallina Lithium Project.

The focus will be at the Deep Well area, where initial reconnaissance has identified favourable stratigraphy, including Fortescue aged rocks.

The conglomerate at Deep Well ranges from quartz pebble conglomerate to those being dominated by felsic volcanic and chert clasts.

Global investor interest in Pilbara conglomerate gold has increased recently, driven by gold discoveries made by Novo Resources (CVE:NOV), Artemis Resources (ASX:ARV) and De Grey Mining (ASX:DEG).

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Wed, 08 Nov 2017 11:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186911/sayona-mining-prepares-for-a-new-phase-of-drilling-at-lithium-project-in-canada-186911.html
<![CDATA[News - Sayona Mining’s shares rise on conglomerate gold opportunity in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/186459/sayona-minings-shares-rise-on-conglomerate-gold-opportunity-in-the-pilbara-186459.html Sayona Mining Ltd’s (ASX:SYA) shares are trading 16% higher intra-day as it readies a field exploration program for conglomerate hosted gold in the Pilbara region of Western Australia.

The focus will be at the Deep Well project, where initial reconnaissance has identified favourable stratigraphy, including Fortescue aged rocks with the potential for conglomerate hosted gold.

Global investor interest has increased dramatically recently, driven by gold discoveries made by Novo Resources (CVE:NOV), Artemis Resources (ASX:ARV) and De Grey Mining (ASX:DEG).

READ NEXT: Sayona Mining shares spike on conglomerate hosted gold opportunity

Earlier this month, Sayona identified Fortescue aged rocks, which signal conglomerate-hosted gold potential within its Mallina Lithium Project located in the Pilbara region of Western Australia.

The Fortescue aged rocks have specifically been identified on the 119 square kilometre Deep Well tenement application within the Mallina project.

Reconnaissance exploration was originally attempting to locate outcropping pegmatite prospective for lithium but instead identified Fortescue aged rocks along the western tenement area.

Field exploration will commence soon to better understand the geology of the area and it’s potential.

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Tue, 31 Oct 2017 14:53:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186459/sayona-minings-shares-rise-on-conglomerate-gold-opportunity-in-the-pilbara-186459.html
<![CDATA[News - Sayona Mining initiates hunt for conglomerate gold in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/186227/sayona-mining-initiates-hunt-for-conglomerate-gold-in-the-pilbara-186227.html Sayona Mining Ltd (ASX:SYA) is readying to commence field exploration for conglomerate hosted gold in Australia's hottest mining post code, the Pilbara region of Western Australia.

The focus will be at the Deep Well project, where initial reconnaissance has identified favourable stratigraphy including quartz pebble conglomerate with potential for conglomerate hosted gold mineralisation.

Interest in the region for gold has recently surged as explorers test the hypothesis proposed by Dr Quinton Hennigh of Novo Resources (CVE:NOV).

Hennigh believes that due to past geological events, a significant amount of gold is yet to be discovered.

Corey Nolan, chief executive officer, commented:

"The recent geological work at Deep Well which has identified rocks prospective for conglomerate hosted gold, displays the inherent value of the 2,000+ square kilometre tenement holding Sayona has in the Pilbara which will be fully evaluated for additional gold targets."

Details of the region

Sayona said that the 119 square kilometre tenement application has poor outcrop and basement geology is largely obscured by recent cover.

Bedrock is interpreted to be Mallina Group sediments, intruded by granites in the east.

A 15 kilometre strike extent of the target stratigraphy is within the tenement.

Volcanic rocks, including pillow basalts, flows and mafic fragmental typical of the Fortescue aged Mt Roe Basalt have been recently identified during fieldwork.

They appear to be part of a previously unrecorded portion of Fortescue rocks within the Deep Well tenement.

This stratigraphy is known to the west and south where they host conglomerate targets.

The volcanics are margined by poorly outcropping, highly weathered volcanic and quartz pebble conglomerate of uncertain age.

The only evidence of past prospecting activities identified to date is a shallow working, dug into quartz and pebble conglomerate.

Geochemistry around this area, together with regional mapping and investigation of remote sensing targets will be carried out.

Work will seek to determine the geological setting of the conglomerates identified to date and the bedrock of the greater tenement area.

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Thu, 26 Oct 2017 11:06:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186227/sayona-mining-initiates-hunt-for-conglomerate-gold-in-the-pilbara-186227.html
<![CDATA[News - Sayona advances studies at Authier lithium project in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/186067/sayona-advances-studies-at-authier-lithium-project-in-canada-186067.html Sayona Mining Ltd (ASX:SYA) is continuing to advance the environmental and mining lease work programs at its Authier lithium project in Quebec, Canada.

The company is focused on rapidly developing Authier and capitalising on the strong concentrate pricing window available for new project entrants in the short to medium term.

Sayona’s shares were trading circa 7% higher intra-day, at $0.015.

The company is currently finalising pre-feasibility study (PFS) inputs and assumptions for the definitive feasibility study (DFS), targeted for completion in the second quarter of calendar 2018.

Sayona recently completed a ten-hole drilling program for the hydrogeology study.

The information will be used to assess the quality of the groundwater and to assess the project’s potential impact on the ground water regime and quality in the area.

In addition, the data will be used to plan the pumping activities for the mine, and to provide information for the geotechnical engineering and geo-mechanics of the project.

Importantly, the program is expected to improve the understanding of the project groundwater environment and to mitigate the environmental risks attributable to the operation.

Sayona has also completed the autumn flora and fauna field survey as part of the environmental survey.

The company has created a vegetation inventory, including wetlands and species with special status, inventory of fish and fish habitat, and inventories of wildlife species with special status.

The final environmental report will be completed by the first quarter of 2018 with no major issues identified to date.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world.

READ NEXT: Sayona Mining shares spike on conglomerate hosted gold opportunity ]]>
Tue, 24 Oct 2017 12:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186067/sayona-advances-studies-at-authier-lithium-project-in-canada-186067.html
<![CDATA[News - Sayona Mining shares spike on conglomerate hosted gold opportunity ]]> http://www.proactiveinvestors.com.au/companies/news/185839/sayona-mining-shares-spike-on-conglomerate-hosted-gold-opportunity-185839.html Sayona Mining (ASX:SYA) has identified Fortescue aged rocks, which signal conglomerate-hosted gold potential within its Mallina Lithium Project located in the Pilbara region of Western Australia.

The Fortescue aged rocks have specifically been identified on the 119 square kilometre Deep Well tenement application within the Mallina project.

Reconnaissance exploration was originally attempting to locate outcropping pegmatite prospective for lithium but instead identified Fortescue aged rocks along the western tenement area.

The Pilbara region of Western Australia is currently experiencing a new gold rush for gold deposits associated with conglomerate rocks.

Global investor interest has increased dramatically recently, driven by gold discoveries made by Novo Resources Corp (CVE:NVO), Artemis Resources (ASX:ARV) and De Grey Mining Ltd (ASX:DEG).

Corey Nolan, CEO, commented

“The company is encouraged by the identification of further zones of spodumene mineralisation at Mallina, where three pegmatite systems in a 5x3 kilometre area have now been discovered, representing a large mineralised system.

“Also, recent geological work at Deep Well which has identified Fortescue Group rocks prospective for conglomerate hosted gold, displays the inherent value of the 2,000+ square kilometre tenement holding Sayona has in the Pilbara.”

The Pilbara’s new conglomerate gold rush

The Pilbara region of Western Australia is currently experiencing a new gold rush for gold deposits associated with conglomerate rocks.

Conglomerates contain mostly rounded pebbles and cobbles of quartz and other rocks laid down in streams or river beds.

The conglomerate at Deep Well ranges from quartz pebble conglomerate to those being dominated by felsic volcanic and chert clasts.

The best-known conglomerate gold deposit in the world is the Witwatersrand of South Africa that has produced >1.5 billion ounces of gold, more than one third of all of the gold produced on Earth.

Further work at Deep Well is planned in order to better understand the geology of the area and it’s potential.

New area of spodumene pegmatite identified at Mallina

At the Mallina project a new area of spodumene pegmatite has also been identified at the Area C prospect.

This area lies centrally between the Discovery and the Eastern group of pegmatites which together cover some 5x3 kilometres. 

The Area C pegmatites are intermittently outcropping along 800+ metres of strike and have been observed up to 15 metres in width.

Assay results of the five rock samples collected range up to 4.61% lithium oxide with spodumene the only observed lithium mineral.

Soil geochemistry has confirmed the anomalism at the Area C Prospect, although only two soil traverses 800 metres apart have been completed.

Further soil sampling, geological reconnaissance and interpretation is being carried out to help advance the prospect to drill stage.

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Thu, 19 Oct 2017 14:43:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185839/sayona-mining-shares-spike-on-conglomerate-hosted-gold-opportunity-185839.html
<![CDATA[News - Sayona Mining launches rights issue for lithium in Canada ]]> http://www.proactiveinvestors.com.au/companies/news/184717/sayona-mining-launches-rights-issue-for-lithium-in-canada-184717.html Sayona Mining Ltd (ASX:SYA) will raise up to $4.9 million from a pro-rate renounceable rights issue, with the new funds to advance the company's Authier lithium project in Canada.

Patersons Securities is providing support with a partial underwriting up to $2.5 million.

The issue will be priced at $0.01, comprising 1 share for every 2 existing shares.

Use of funds

More specifically, the funds will be used for the completion of the Pre-Feasibility Study, and to undertake the Definative Feasibility study at Authier.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world, and has a strategy to move into production quickly.

READ NOW: Sayona Mining's successful lithium testwork to feed into updated PFS at Authier ]]>
Thu, 28 Sep 2017 14:46:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184717/sayona-mining-launches-rights-issue-for-lithium-in-canada-184717.html
<![CDATA[News - Sayona Mining eyes lithium-ion battery industry, to lift cash for further investigation ]]> http://www.proactiveinvestors.com.au/companies/news/184553/sayona-mining-eyes-lithium-ion-battery-industry-to-lift-cash-for-further-investigation-184553.html Sayona Mining Ltd (ASX:SYA) recently outlined revealed positive results of a downstream processing Concept Study for the production of lithium carbonate and/or lithium hydroxide.

This would provide the company with a potential opportunity to supply concentrates into high-value products used in the lithium-ion battery industry.

READ NOW: Sayona has potential to supply lithium-ion battery industry

Sayona has today outlined that it is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 28th September 2017, or earlier if an announcement is made to the market.

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Tue, 26 Sep 2017 10:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184553/sayona-mining-eyes-lithium-ion-battery-industry-to-lift-cash-for-further-investigation-184553.html
<![CDATA[News - Sayona Mining has potential to supply lithium-ion battery industry ]]> http://www.proactiveinvestors.com.au/companies/news/183213/sayona-mining-has-potential-to-supply-lithium-ion-battery-industry-183213.html Sayona Mining Ltd (ASX:SYA) has revealed positive results of a downstream processing Concept Study for the production of lithium carbonate and/or lithium hydroxide at the Authier lithium project in Quebec, Canada.

The Concept Study demonstrates that the Authier downstream project has the potential to be competitive on both capital and operating costs compared to benchmarked projects.

The study therefore confirms the opportunity to unlock value at Authier processing concentrates into high-value products used in the lithium-ion battery industry.

Adding further interest is the potential to partly finance downstream operations by the sale of spodumene concentrate in the early years whilst the permitting and downstream feasibility study are completed.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world.

Corey Nolan, chief executive officer, commented:

"The positive results from the Concept Study signals a new phase of value creation for the Authier project.

"In the short term, the company is committed to developing a low capital expenditure concentrate sales operation and capitalising on the projected high price environment for concentrates near term.

"The cash flows could then be applied to funding the equity required to construct the downstream processing plant.

"This would unlock the inherent value in the project at a time when lithium carbonate/hydroxide prices are trading near at all time price highs based on the strong demand growth for lithium-ion batteries."

Details on the study

The study evaluated the option of converting Authier’s annual spodumene concentrate into either 13,000 tonnes of lithium carbonate or 14,000 tonnes of lithium hydroxide, utilising conventional processing technology.

Sayona can then leverage off the surrounding world-class infrastructure, low energy and reagent costs.

Lithium carbonate and hydroxide are both high-value products used in the lithium-ion battery industry.

Next steps for Sayona

The next step in the project development plan is to convert Authier concentrates into lithium carbonate, complete of a Pre-Feasibility Study, permitting and site selection.

This process will run in parallel with the completion of the mining and concentrate processing Definitive Feasibility Study, and strategic partnering process.

READ NOW: Sayona Mining's successful lithium testwork ]]>
Thu, 31 Aug 2017 10:14:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183213/sayona-mining-has-potential-to-supply-lithium-ion-battery-industry-183213.html
<![CDATA[News - Sayona Mining's successful lithium testwork to feed into updated PFS at Authier ]]> http://www.proactiveinvestors.com.au/companies/news/183060/sayona-mining-s-successful-lithium-testwork-to-feed-into-updated-pfs-at-authier-183060.html Sayona Mining Ltd (ASX:SYA) has revealed recoveries over 80% and concentrate grades greater than 6% lithium have been achieved from a metallurgical testing program at the company's Authier lithium project in Canada.

The objective of the metallurgical testing was to improve the process recoveries and concentrate grades, and reduce processing operating costs.

This has been a success when compared to the February 2017 Pre-Feasibility Study (PFS) assumptions of recoveries at 80% and concentrate grades of 5.75% lithium.

The results will be incorporated into the updated PFS, along with the new JORC Resource and results of the geotechnical program.

This has the potential to significantly enhance the value and return outcomes for the Authier project.

Following this Sayona will commence the Definitive Feasibility Study, and pilot scale metallurgical testing programs.

The potential of Authier

Authier is located in an infrastructure rich region of Canada.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world, and has a strategy to move into production quickly.

This has the potential to be done by constructing a relatively low capital expenditure operation and capitalising on the projected high price environment for spodumene concentrates over the next five to ten years.

Cash flows from concentrate sales could then potentially be applied to funding the equity required to construct the downstream processing plant or an expansion of the concentrate operations.

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Tue, 29 Aug 2017 12:43:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183060/sayona-mining-s-successful-lithium-testwork-to-feed-into-updated-pfs-at-authier-183060.html
<![CDATA[News - Sayona Mining's updated PFS looks to unlock value from Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/182705/sayona-mining-s-updated-pfs-looks-to-unlock-value-from-authier-lithium-project-182705.html Sayona Mining Ltd (ASX: SYA) continues to advance work programs to unlock value from its Authier lithium project in Canada.

Sayona believes Authier is one of the most advanced new hard-rock spodumene development projects in the world, and has a strategy to move into production quickly.

This has the potential to be done by constructing a relatively low capital expenditure operation and capitalising on the projected high price environment for spodumene concentrates over the next five to ten years.

Cash flows from concentrate sales could then potentially be applied to funding the equity required to construct the downstream processing plant or an expansion of the concentrate operations.

Latest work programs

The updated Pre-Feasibility Study (PFS) work programs are nearing completion, with the update expected to be released in September.

The Updated PFS includes:

- Testing modifications to the process flowsheet to improve the metallurgical parametres;

- Undertake a value engineering review of the PFS concentrator design to identify which opportunities will be implemented into the upcoming Definitive Feasibility Study;

- Incorporating the new JORC Resource announced in May 2017. In addition, the company will incorporate a planned resource from Authier North in the new optimised mine plan;

- Incorporating new geotechnical data into the mine optimisations and improve the overall economics of the project; and

- Assess the current spodumene concentrate supply and demand environment, and long-term pricing for the Authier financial model.

The finalisation of the update including the new process flowsheet is aimed at unlocking value in the Authier project.

The PFS will form the foundations for the commencement of the Definitive Feasibility Study, and pilot scale metallurgical testing programs.

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Mon, 21 Aug 2017 13:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182705/sayona-mining-s-updated-pfs-looks-to-unlock-value-from-authier-lithium-project-182705.html
<![CDATA[News - Sayona Mining's Corey Nolan discusses lithium pathway at Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/181478/sayona-mining-s-corey-nolan-discusses-lithium-pathway-at-proactive-s-ceo-sessions-181478.html Sayona Mining Ltd's (ASX:SYA) chief executive officer, Corey Nolan, joined the Proactive's CEO Sessions in Melbourne and Sydney this week, outlining the company's lithium strategy.

Sayona remains focused on the Authier Lithium project, which is located in an infrastructure rich region of Canada.

Authier has the potential for a simple, open-cut mining operation with competitive mining costs of $2.90/tonne average LOM, with a mine life of 15 years.

ACCESS THE FULL PRESENTATION HERE ]]>
Thu, 27 Jul 2017 09:43:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181478/sayona-mining-s-corey-nolan-discusses-lithium-pathway-at-proactive-s-ceo-sessions-181478.html
<![CDATA[News - Sayona Mining Ltd advances concept study and receives new assays ]]> http://www.proactiveinvestors.com.au/companies/news/180944/sayona-mining-ltd-advances-concept-study-and-receives-new-assays-180944.html Sayona Mining (ASX:SYA) has commenced a downstream processing concept study following the successful completion of hydrometallurgical testing on lithium concentrates from its Authier lithium project located in Canada.

The study will assess the alternative processing options, process flow sheet selection, operating and capital cost estimates, financial analysis, and recommendations for the next phase of development.

The study is expected to take between 3 and 4 weeks and compliments to the current metallurgical optimisation program currently underway.

Elsewhere, Sayona has completed its 18-hole, 1,343-metre first phase drilling program at the Mallina spodumene pegmatite project in the Pilgangoora district of Western Australia.

Corey Nolan, CEO, commented: “The commencement of the concept study signals a new potential phase of value creation for the Authier project.

“In the short term, the company is committed to developing Authier as a low capital expenditure project and capitalising on the projected high price environment for concentrates over the next five to ten years.”

Downstream processing concept study

The recent test work demonstrated that the conversion of Authier lithium concentrates into traditionally extractable beta spodumene (a form of spodumene amenable to further processing) was achievable, at high conversion rates.

The results increase the confidence that battery grade lithium carbonate can be produced from Authier lithium concentrates.

Sayona has commissioned an evaluation of the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility in Quebec.

This would enhance the Authier project value, and improve the long-term competitive position of the project.

Advantages of Quebec, Canada

Quebec is uniquely positioned with a number of significant commercial and market advantages, including:

- High-quality infrastructure, including globally competitive, low-cost gas and electricity prices;
- Availability of sulphuric acid from a copper smelter located 80 kilometres away;
- Skilled, competitive cost labour force;
- Road and rail transport networks connecting to export ports;
- Supportive government that invests directly into mineral development projects (e.g. Nemaska and North American Lithium); and
- Located in close proximity to the U.S. markets including, the Tesla Giga factory in Nevada, and other planned Giga factories in the U.S.

A new supply source to China

Currently, all the world’s hard-rock lithium concentrates are imported and processed into value-added products in China.

China’s policy incentives for investment into battery manufacturing for electric vehicles and storage systems, and export tax regime for lithium products, is restricting the supply of battery raw materials to western battery manufacturers like Korea, Japan and Europe.

Sayona believes it can be a new alternative, stable source of lithium supply to China.

Mallina drill result details

A total of 18 reverse circulation drill holes for a total 1,343 metres have been completed, testing five spodumene pegmatites.

At each target, drilling has intersected pegmatite with peak assays reaching 1.62% lithium oxide.

The eastern group of pegmatites returned the broadest zones of pegmatite, with up to 19 metres downhole width.

Intercepts included up to 5 metres at 1.00% lithium oxide from 46 metres.

Petrology and other studies are being carried out to understand the drill results further

Analysis

The concept study is an important part of Sayona’s project development given the significant financial margins available by the processing of spodumene concentrates into lithium carbonate.

Sayona would be able to apply cash flows generated from future concentrate sales to funding the equity required to construct the downstream processing plant.

This would unlock the inherent value in the project at a time when lithium carbonate/hydroxide prices are trading near at all-time price highs based on the strong demand growth for lithium-ion batteries.

The current global spot price is between US$18,000-US$19,000 for 99% minimum purity.

Study results are expected in 3-4 weeks and have the potential to act as a catalyst for the stock given the ability it has to both advance and de-risk the project.

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Mon, 17 Jul 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180944/sayona-mining-ltd-advances-concept-study-and-receives-new-assays-180944.html
<![CDATA[News - Sayona Mining Ltd brings lithium across two continents to Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/180483/sayona-mining-ltd-brings-lithium-across-two-continents-to-proactive-s-ceo-sessions-180483.html Sayona Mining Ltd (ASX:SYA) is preparing to showcase its lithium assets in Australia and Canada at Proactive's CEO Sessions.

The company has a very experienced board with members part of the co-founding of Orocobre Ltd (ASX:ORE) and are directors of Altura Mining Ltd (ASX:AJM) which has a Definitive Feasibility Study on the Pilgangoora Lithium Project in Western Australia.

Broker Patersons recently applied a Speculative Buy and target three-times above the current valuation.

Find out more from Corey Nolan at Proactive's CEO Sessions.

Click below to register by email

- Melbourne: Tuesday 25th July.
- Sydney: Wednesday 26th July.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Sayona Mining (ASX:SYA): Corey Nolan
- Lithium Power International (ASX:LPI): Andrew Phillips
- Elementos (ASX:ELT): Chris Dunks
- Tyranna Resources (ASX:TYX): Bruno Seneque
- Argent Minerals (ASX:ARD): David Busch (Melbourne only)
- Bryah Resources (ASX:BYH): Neil Marston (Sydney only)

]]>
Mon, 17 Jul 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180483/sayona-mining-ltd-brings-lithium-across-two-continents-to-proactive-s-ceo-sessions-180483.html
<![CDATA[News - Sayona Mining Ltd achieves high lithium conversion rates ]]> http://www.proactiveinvestors.com.au/companies/news/180257/sayona-mining-ltd-achieves-high-lithium-conversion-rates-180257.html Sayona Mining Ltd (ASX:SYA) has successfully completed a hydrometallurgical testing program on lithium concentrates from its flagship Authier lithium project located in Canada.

The program demonstrated that the conversion of Authier lithium concentrate into traditionally extractable beta spodumene was achievable, at high conversion rates.

The beta spodumene is a form of spodumene amenable to further processing.

Up to 96.8% of the lithium was recovered in the process from a 5.98% lithium oxide concentrate.

The results compare favourably with benchmark data generated from other hard-rock spodumene projects in Canada with similar testing conditions.

Furthermore, the results increase the confidence that battery grade lithium carbonate can be produced from Authier lithium concentrates.


Background

Sayona is focused on rapidly developing its flagship Authier Lithium Project located in Canada.

Work programs focused on enhancing the Authier project value and fast-tracking the permitting are underway.

Authier is an advanced development project and cash flow generation opportunity with positive attributes, including:

- Well studied with the completion of a PFS in February 2017 projecting a pre-tax NPV CAD$140 million and IRR 39%;
- Maiden JORC Ore Reserves: 10.2 million tonnes at 1.02% lithium oxide comprised of Proven Reserve 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide;
- Simple open-cut, truck and shovel mining operation;
- Proven process for recovery of spodumene into a saleable concentrate;
- World-class infrastructure and Quebec Government support;
- Low capital hurdle and attractive operating costs; and
- Potential to process and produce a lithium carbonate/hydroxide product through an integrated downstream processing facility at Authier.


Cashing in on carbonate

Currently, there are significant financial margins being achieved by the processing of spodumene concentrates into lithium carbonate.

The current global spot price is between US$18,000-US$19,000 for 99% minimum purity.

Sayona is evaluating the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility.

This is to enhance the project value, and improve the long-term competitive position of the project.

Quebec is uniquely positioned with a number of significant commercial and market advantages, including:

- High quality infrastructure, including globally competitive, low-cost gas and electricity prices;
- Availability of sulphuric acid from a copper smelter located 80 kilometres away;
- Skilled, competitive cost labour force;
- Road and rail transport networks connecting to export ports;
- Supportive government that invests directly into mineral development projects (e.g. Nemaska and North American Lithium); and
- Located in close proximity to the U.S. markets including, the Tesla Giga factory in Nevada, and other planned Giga factories in the U.S.

]]>
Tue, 04 Jul 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180257/sayona-mining-ltd-achieves-high-lithium-conversion-rates-180257.html
<![CDATA[News - Sayona Mining receives broker attention and Speculative Buy ]]> http://www.proactiveinvestors.com.au/companies/news/180086/sayona-mining-receives-broker-attention-and-speculative-buy-180086.html Sayona Mining (ASX:SYA) has received a Speculative Buy from broker Patersons, with a 12-month target price of $0.043 per share, which is around three times it current valuation.

The following is an extract from the report.


A Board With Lithium Stripes

Sayona Mining Limited (SYA) is an Australian lithium developer with projects in Australia and Canada.

SYA’s board has significant experience in the development of brine and hard-rock lithium projects.

The Authier project is SYA’s flagship project, located in Quebec, Canada, with a Pre-Feasibility Study (FPS).

Authier has shown encouraging economic results with a simple (and scalable) solution to generate early cash-flows from the production of lithium concentrate targeting its first spodumene production in 2019.

We initiate coverage on SYA as a Speculative Buy with a price target of $0.043/share.


Experienced Board: SYA has experienced Board members with both past and present lithium company experience.

SYA Board members were part of the co-founding of Orocobre and are Directors of Altura Mining Limited (AJM) which has a Definitive Feasibility Study (DFS) on the Pilgangoora Lithium Project in Western Australia.

We believe the Board’s experience is key to the potential success in the execution of the Authier Project.


Authier PFS: SYA released the Authier PFS on 16 February 2017.

The PFS highlights a 15-year project with c.99ktpa of lithium concentrate at 5.75% Li2O and has a pre-tax NPV of C$140m (discounted at 8%) with a 39% IRR and a payback period of 2.2 years.


Low Capex and Quick to Production: SYA is setting up the Authier production in-line with the Quebec legislation (2,000tpd) to obtain permits faster than a larger scale project requires, which attracts lower capex (C$66m), less risk and is quicker to production, leaving the door open to scale-up in the future.


Scalable Project: Authier has c.2.2Mt@0.99%Li2O in Inferred Resources that could potentially converted to reserves to increase the production capacity of Authier.

SYA has identified that the Authier deposit is open at depth and strike, suggesting future further tonnage could be added


PFS improvements: There is potential to reduce mining cost by increasing the angle of the mining walls. As a result, the strip ratio ore would be reduced.

Also, there is scope for increasing lithium recovery and a new JORC Reserves update, which would improve the Project’s economics.


Swift Production to Lithium Concentrate: The mining and processing of lithium concentrate is a quick process relative to lithium brines production, which take an average of nine months to produce lithium carbonate.

Hence SYA has the opportunity to receive earlier cash flows thereby minimising working capital requirements for Authier.


Downstream - Potential Upside: Authier’s average production is equivalent to 13.6ktpa of lithium carbonate equivalent (LCE).

We believe once SYA proves the viability of Authier, there exist the potential to capture the downstream value by adding an extra US$60m in revenue and potentially supply LCE to the US battery factories.


Lithium Market: Recent studies indicate lithium demand will increase more than 4-5 fold to 2026.

The change is driven by the growth in new electric vehicles providing a case for LCE prices to remain high given the market could potentially experience challenges in meeting demand.


Valuation: We value the Authier Project with an NPV of A$104m discounted at 9%.

We used SYA’s FPS as a base for our valuation.

We assume a higher long term flat price of US$550/t (vs.US$515/t) for SYA’s 5.75%Li2O concentrate.


Catalyst: (1) PFS improvements by 3Q CY2017, (2) off-take agreement, (3) Bankable Feasibility Study (BFS) in CY2018 (4) project finance and 5) Project Construction 2H CY2018.

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Fri, 30 Jun 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180086/sayona-mining-receives-broker-attention-and-speculative-buy-180086.html
<![CDATA[News - Sayona Mining aims to capitalise on strong pricing window ]]> http://www.proactiveinvestors.com.au/companies/news/179940/ Sayona Mining (ASX:SYA) remains focused on rapidly developing its flagship Authier Lithium Project located in Canada.

Work programs focused on enhancing the Authier project value and fast-tracking the permitting are underway.

By developing Authier rapidly, Sayona aims to capitalise on the strong pricing window available for new project entrants in the short-to-medium term.

Work programs are being progressed to expand the project value, including hydrogeological, geotechnical, and metallurgical assessments.

Following completion of the programs, the February 2017 pre-feasibility study (PFS) will be updated, and a new Ore Reserve statement published.

This will form the basis of the definitive feasibility study which the company will anticipate completing in early 2018.


Authier highlights

Authier is an advanced development project and cash flow generation opportunity with positive attributes, including:

- Well studied with the completion of a PFS in February 2017 projecting a pre-tax NPV CAD$140 million and IRR 39%;
- Maiden JORC Ore Reserves: 10.2 million tonnes at 1.02% lithium oxide comprised of Proven Reserve 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide;
- Simple open-cut, truck and shovel mining operation;
- Proven process for recovery of spodumene into a saleable concentrate;
- World-class infrastructure and Quebec Government support;
- Low capital hurdle and attractive operating costs; and
- Potential to process and produce a lithium carbonate/hydroxide product through an integrated downstream processing facility at Authier.


Rising prices

Strong demand for the lithium products has driven concentrate prices to record levels and many industry commentators like Roskill are projected this demand to continue strong into the future.

In response to this demand, Sayona has received strong interest to supply both the Chinese and Canadian downstream converters.


Adding value with a conversion facility

Currently, there are significant financial margins being achieved by the processing of spodumene concentrates into lithium carbonate.

Sayona is evaluating the technical and economic viability of building a lithium carbonate and/or hydroxide production conversion facility.

This is to enhance the project value, and improve the long-term competitive position of the project.

Quebec is uniquely positioned with a number of significant commercial and market advantages, including:

- High quality infrastructure, including globally competitive, low-cost gas and electricity prices. Electricity is sourced from renewable energy;
- Skilled, competitive cost labour force;
- Road and rail transport networks connecting to export ports;
- Supportive government that invests directly into mineral development projects (e.g. Nemaska and North American Lithium); and
- Located in close proximity to the U.S. markets including, the Tesla Giga factory in Nevada, and other planned Giga factories in the U.S.


Other project updates

A number of other initiatives are underway or planned at Authier including:

- A hydrogeology study will begin early next month to understand ground water;
- Further metallurgical test work is being completed aimed at improving processing recoveries and concentrate grades, and targeting lower operating costs;
- An update of the 2013 environmental study commenced in June; and
- At the social level, a stakeholder survey has been completed and consultations are upcoming.


Peer valuation

Currently, Sayona’s enterprise valuation (EV) per resource tonne is circa $72 and the pending resource upgrade will lower this further.

This valuation is typical of companies at the explorer level, however, the development of Authier will progress Sayona into a new class of hard rock lithium developers and miners.

Valuations of these peers range from $238 to $1186 per tonne of measured and indicated lithium resources.

This highlights the potential valuation uplift Sayona can achieve by rapidly developing the Authier project.

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Wed, 28 Jun 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179940/
<![CDATA[News - Sayona Mining expands lithium resource at Authier ]]> http://www.proactiveinvestors.com.au/companies/news/179191/sayona-mining-expands-lithium-resource-at-authier-179191.html Sayona Mining (ASX:SYA) has increased its JORC resource estimate by 21% at its flagship Authier Lithium Project located in Canada.

The expanded resource estimate follows the recently completed 4,100-metre phase 2 drilling program.

The resource now stands at 17.4 million tonnes grading 1.02% lithium oxide for 177,212 tonnes of lithium oxide with 88% of the resource now in the Measured and Indicated categories.

Corey Nolan, CEO, commented: “The expanded resource estimate will extend the mine life beyond the 13 years outlined in the February 2017 pre-feasibility study.

“The company is now focused on a number of optimisation programs to incorporate into an updated pre-feasibility study and Ore Reserve estimate.”


Resource update overview

The Authier project hosts two separate mineralised pegmatite systems including, Authier and Authier North.

The Authier North pegmatite which was drilled in early 2017, does not yet have a reported Mineral Resource estimate.

The dimensions of the Authier deposit drilled are 1,100 metres long, striking east-west, with an average thickness of 25 metres, ranging from 4 metres to 55 metres.

The size of the contained lithium oxide Mineral Resource has increased 21% since the November 2016 estimate, and the level of mineralisation within the Measured and Indicated resource categories has increased to 88% from 1%.

This new resource estimate will form the basis of an updated Ore Reserve which will be prepared as part of an updated pre-feasibility study.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed pre-feasibility study (PFS) include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.


Resource optimisation potential

Sayona believes there is further potential to optimise the main resource area including:

- Infill drilling within the main deposit where there is no resource due to lack of drilling density, especially in the east and west, and to add the resource base; and
- Converting inferred resources into a higher resource classifications by further higher density drilling.


Further expansion potential

The mineralisation remains open in all directions.

Currently, Sayona is not looking to expand the current JORC resource estimate given the current resource provides more than 20 years mine life.

However, future target areas to expand the resource could include:

- Testing for further mineralisation in the east and west strike extensions;
- Defining further mineralisation at depth; and
- Assessing the resource potential of Authier North.


Analysis

This resource upgrade both de-risks the Authier project and grows its potential to improve the base case value of the deposit, which stands at C$140 million pre-tax net present value.

The new resource will be fed into an updated PFS, which paves the way to fast-track completion of the definitive feasibility study, and finalisation of permitting and approvals.

Authier represents an advanced development project and cash flow generation opportunity for Sayona.

Work programs are in progress at Authier with upcoming news flow expected regarding:

- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades; and
- Updating the February 2017 PFS and Ore Reserve estimate.

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Wed, 14 Jun 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179191/sayona-mining-expands-lithium-resource-at-authier-179191.html
<![CDATA[News - Sayona Mining commences maiden lithium drilling at Mallina ]]> http://www.proactiveinvestors.com.au/companies/news/179117/sayona-mining-commences-maiden-lithium-drilling-at-mallina-179117.html Sayona Mining (ASX:SYA) has commenced its 30 hole, 2500 metre, maiden drilling program at the Mallina project located in Western Australia.

The program is designed to test the lithium mineralisation potential of six of the spodumene pegmatites identified at Mallina to date.

The prime focus of the program is targeting two large recently discovered pegmatite systems, including:

- Eastern No.2 Pegmatite strikes over 1,300 metres with high-grade lithium assays up to 3.55% lithium oxide; and
- Eastern No.3 Pegmatite strikes over 1,400 metres strike length with high-grade lithium to 1.95% lithium oxide.

The program is expected to be completed in early July.


Mallina Project

The Mallina project is located in the world-class Pilgangoora lithium district of Western Australia and hosts albite-spodumene pegmatite mineralisation.

Sayona has an option to acquire an 80% interest in a portfolio of new prospects totalling 871 square kilometres including the Mallina prospect.

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Tue, 13 Jun 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179117/sayona-mining-commences-maiden-lithium-drilling-at-mallina-179117.html
<![CDATA[News - Sayona Mining reveals high-grade lithium assays from Pilgangoora district ]]> http://www.proactiveinvestors.com.au/companies/news/179006/sayona-mining-reveals-high-grade-lithium-assays-from-pilgangoora-district-179006.html Sayona Mining (ASX:SYA) has assayed up to up to 3.55% lithium from rock chips at the Eastern No.2 Pegmatite, which is part of its Mallina spodumene pegmatite project in the Pilgangoora district of Western Australia.

Adding to the prospectivity, mapping at the Eastern No.3 Pegmatite has identified  pegmatite over 1400 metres in strike extent, with rock chips up to 1.98% lithium.

This fieldwork has enhanced the potential of the project.

Corey Nolan, chief executive officer, commented:

"The company is encouraged that the new results confirm the robust grade, thickness and strike extent of the new pegmatite discoveries.

"The Mallina prospect now contains two parallel pegmatite systems with more than 1000 metres of strike length each.

"Drilling will commence next week to test their potential."

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Fri, 09 Jun 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179006/sayona-mining-reveals-high-grade-lithium-assays-from-pilgangoora-district-179006.html
<![CDATA[News - Sayona Mining secures funds in share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/178358/sayona-mining-secures-funds-in-share-purchase-plan-178358.html Sayona Mining (ASX:SYA) has raised $1.5 million through a strongly supported and underwritten share purchase plan (SPP).

The company is now funded to advance the development of its flagship Authier Lithium Project located in Canada.

Three members of Sayona’s board took part in the SPP, which resulted in 47.37 million shares being allotted priced at $0.017 – the balance was allotted to the underwriter.

Sayona will be leveraged to news flow from multiple projects with a drilling campaign on the Mallina lithium project in Western Australia set to commence shortly.

The company recently received the remaining 26 diamond drill hole assays from its Phase 2 drilling campaign at Authier.

New zones of mineralisation were drilled in the eastern, western and at depth in the main Authier pegmatite and include intersections of 26 metres grading 1.26% lithium oxide.

The new results demonstrate extensions of the main pegmatite orebody by up to 150 metres to the east and 300 metres to the west, resulting in a 1,100 metre strike length.

An updated Mineral Resource estimate is being prepared and is expected in the coming weeks.

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Fri, 26 May 2017 08:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178358/sayona-mining-secures-funds-in-share-purchase-plan-178358.html
<![CDATA[News - Sayona Mining final assays expands lithium mineralisation ]]> http://www.proactiveinvestors.com.au/companies/news/177829/sayona-mining-final-assays-expands-lithium-mineralisation-177829.html Sayona Mining (ASX:SYA) has received the remaining 26 diamond drill hole assays  from its Phase 2 drilling campaign at its flagship Authier Lithium Project located in Canada.

New zones of mineralisation were drilled in the eastern, western and at depth in the main Authier pegmatite and include intersections of 26 metres grading 1.26% lithium oxide.

The new results demonstrate extensions of the main pegmatite orebody by up to 150 metres to the east and 300 metres to the west, resulting in a 1,100 metre strike length.

An updated Mineral Resource estimate is being prepared and is expected in the coming weeks.

Corey Nolan, CEO, commented: “An expanded resource will extend the mine life beyond the 13 years outlined in the February 2017 pre-feasibility study based on the 2017 Ore Reserve.”


Drill results details

The Phase 2 drilling program comprised 31 diamond drill holes for 4,104 metres and was aimed at extending mineralisation and expansion of the current JORC Mineral Resource.

Significant intersections from the final 26 diamond drill holes include:

- 26 metres at 1.26% lithium oxide from 163 metres including 15  metres at 1.42 % lithium oxide;
- 29 metres at 0.92 % lithium oxide from 227 metres including 13  metres at 1.10 % lithium oxide;
- 10 metres at 1.04 % lithium oxide from 30 metres;
- 8  metres at 1.07 % lithium oxide from 165 metres; and
- 6  metres at 1.32 % lithium oxide from 23 metres including 3 metres at 1.76 % lithium oxide.

The new holes drilled east, west and within the gap zone of the main Authier pegmatite orebody have successfully demonstrated potential extensions of the mineralisation at open-cut mineable depths.

The mineralisation remains open in all directions and further drilling will be required to test the full extent of deposit.

Additionally, new holes in the northern pegmatite have delineated a narrow and gently dipping tabular body with the potential for shallow, open-cut mineable tonnage.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed pre-feasibility study (PFS) include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

Work programs have now commenced expected to be completed within three months and include:

- Resource upgrade following the completion of the Phase 2 drilling program;
- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades; and
- Updating the February 2017 PFS and Ore Reserve estimate.


Analysis

Assay results from the Phase 2 program demonstrate the success of the extensional drilling, which will now be incorporated into the pending resource update.

An increased resource provides Sayona with the opportunity to increase Authier’s life of mine, which can lead to an increase in the current pre-tax NPV of C$140 million.

The new resource will be fed into an updated PFS, which paves the way to fast-track completion of the definitive feasibility study, and finalisation of permitting and approvals.

Authier represents an advanced development project and cash flow generation opportunity for Sayona.

The resource update which is currently pending will be highly anticipated by the market.

Significantly, the main pegmatite still remains open in all directions.

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Tue, 16 May 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177829/sayona-mining-final-assays-expands-lithium-mineralisation-177829.html
<![CDATA[News - Sayona Mining extends underwritten share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/177630/sayona-mining-extends-underwritten-share-purchase-plan-177630.html Sayona Mining (ASX:SYA) has resolved to extend its share purchase plan (SPP) which is underwritten to the amount of $1.5 million.

The closing date will now be next Wednesday 17 May, 2017 with new shares expected to be trading on 23 May, 2017.

The issue price will be determined at the issue date of new shares and will represent a 20% discount to the volume weighted average price over five days prior to the issue date.

The SPP provides eligible shareholders with the opportunity to apply for parcels of new shares in Sayona valued between $500 and $15,000.

Funds raised will be used to accelerate the development of the flagship Authier lithium project in Canada and to fund exploration activity on the Sayona’s Australian lithium projects.

Authier’s February 2017 pre-feasibility study (PFS) forecast a pre-tax net present value (NPV) of C$140 million, which notably incorporated lithium prices well below current prices.

Sayona most recently commenced work programs focused on significantly enhancing Authier’s value further.

The work programs will be completed within three months and will include drilling and metallurgy test-work among other things.

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Thu, 11 May 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177630/sayona-mining-extends-underwritten-share-purchase-plan-177630.html
<![CDATA[News - Sayona Mining to enhance value of Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/177478/sayona-mining-to-enhance-value-of-authier-lithium-project-177478.html Sayona Mining (ASX:SYA) has commenced work programs focused on significantly enhancing the value of its flagship Authier lithium project in Canada.

The new work programs will provide new technical information aimed at improving the base case economics outlined in the February 2017 pre-feasibility study (PFS).

The PFS valued Authier with a pre-tax net present value (NPV) of C$140 million, which notably incorporated lithium prices well below current prices.

The work programs will be completed within three months and will include drilling and metallurgy test-work among other things.

Corey Nolan, CEO, commented: “The company is targeting a significant improvement in the Authier value and returns, following the pending Authier resource upgrade and completion of the optimisation programs.”


Work program details

The work programs which are expected to be completed within three months, include:

- Resource upgrade following the completion of the Phase 2 drilling program;
- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades; and
- Updating the February 2017 Pre-Feasibility Study and Ore Reserve estimate.


Authier fast-track strategy

An updated PFS paves the way to fast-track completion of the definitive feasibility study, and finalisation of permitting and approvals.

The company remains focused on rapidly developing Authier and capitalising on the strong pricing window available for new project entrants in the short-to-medium term.

Authier represents an advanced development project and cash flow generation opportunity for Sayona.


Authier lithium project

Sayona’s flagship Authier lithium project is located in Quebec, Canada.

Sayona plans to progress towards completing a definitive feasibility study, mining licence applications, off-take contracts and financing this year.

Key findings of the recently completed PFS include:

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

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Tue, 09 May 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177478/sayona-mining-to-enhance-value-of-authier-lithium-project-177478.html
<![CDATA[News - Sayona Mining confirms high grade lithium in Pilgangoora ]]> http://www.proactiveinvestors.com.au/companies/news/177409/sayona-mining-confirms-high-grade-lithium-in-pilgangoora-177409.html Sayona Mining (ASX:SYA) has recovered rock chips grading up to 3.98% lithium oxide from its Mallina Project located in the renowned Pilgangoora district of Western Australia.

Results confirm lithium mineralisation in three new zones of spodumene pegmatites, with the Main Eastern pegmatite outcropping over 1,300 metres of strike extent.

Of the 14 samples collected over the Eastern Pegmatite, the average lithium content is 1.23% lithium oxide.

Corey Nolan, CEO, commented: “The company is very encouraged by the potential scale of the new pegmatite which is demonstrating the potential for robust grade, thickness and strike extent.

“The company will work towards drill testing the targets as quickly as possible”.


Rock chip details

In total 22 rock chip samples were assayed from three pegmatites:

- Main Eastern pegmatite: 14 samples ranging up to 3.98% lithium oxide;
- North Eastern pegmatite: 5 samples ranging up to 3.16% lithium oxide; and
- Western pegmatite: 3 samples ranging up to 0.52% lithium oxide.

Widths of up to 20 metres have been observed on surface.

Exploration and permitting is being fast-tracked to allow drill testing.


Mallina Project

The Mallina project is located in the world-class Pilgangoora lithium district of Western Australia and now includes seven areas containing spodumene pegmatite mineralisation.

Further exploration will continue around the discovery areas to define drill targets.

Permitting and approvals are underway to allow drill testing of the targets as soon as possible.

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Mon, 08 May 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177409/sayona-mining-confirms-high-grade-lithium-in-pilgangoora-177409.html
<![CDATA[News - Sayona Mining discovers spodumene-bearing pegmatite in Pilgangoora district ]]> http://www.proactiveinvestors.com.au/companies/news/177200/sayona-mining-discovers-spodumene-bearing-pegmatite-in-pilgangoora-district-177200.html Sayona Mining (ASX:SYA) continues to advance exploration at its highly prospective assets in the Pilgangoora district of Western Australia

A new zone of spodumene pegmatites has been discovered, with the main body outcropping along 1300 metres in strike extent.

Widths of up to 20 metres have been observed on surface, and adding intrigue, the true thickness is currently unknown.

Corey Nolan, chief executive officer, commented:

"The company is very encouraged by the potential scale of the new pegmatite which is demonstrating the potential for robust thickness and strike length.

"The company will work towards drill testing the targets as quickly as possible."

The new area is located 5 kilometres east of the Discovery pegmatite swarm that has returned rock chip grades up to 3.47% lithium.

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Wed, 03 May 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177200/sayona-mining-discovers-spodumene-bearing-pegmatite-in-pilgangoora-district-177200.html
<![CDATA[News - Sayona Mining makes key appointment to fast-track Authier lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/176892/sayona-mining-makes-key-appointment-to-fast-track-authier-lithium-project-176892.html Sayona Mining (ASX:SYA) has appointed Jonathan Gagne as Canadian Country Manager to fast-track the development of the Authier project in Quebec, Canada.

Key duties for Gagne include completion of the Definitive Feasibility Study, permitting and approvals.

Other tasks include assessing opportunities for off-take, studying potential to value-add to Authier’s spodumene concentrate within Quebec, and capitalise on the strong demand for lithium value-added products within the U.S. markets.

Corey Nolan, chief executive officer, commented:

"Jonathon is intimately familiar with the Authier project and its potential following his involvement in the preparation of the Preliminary Economic Assessment in 2013.

"Since Jonathon’s involvement in the project in 2012/13, Sayona has drilled an additional 8,000 metres at Authier and completed a Pre-feasibility Study, and lithium spodumene prices have soared to record levels, significantly enhancing the value of the project."


Next steps

Sayona is currently awaiting assays from the phase two drilling program at Authier.

Once all the remaining assay results from the phase two drilling are received, Sayona plans to update its JORC resource estimate.


Key findings of the recently completed PFS

- Pre-tax NPV of C$140 million and pre-tax internal rate of return of 39%;
- Annual average concentrate production of 99,000 tonnes at 5.75% lithium oxide;
- Average annual revenue of C$67 million and EBITDA of C$31 million;
- Life of mine strip ratio of 6:1 (waste to ore) and cash costs of C$367 (US $280) FOB Montreal Port;
- Development capital expenditure of C$66 million; and
- Maiden Ore Reserve of 10.2 million tonnes at 1.02% lithium oxide (Proven Reserve: 4.9 million tonnes at 0.97% lithium oxide and Probable Reserve 5.3 million tonnes at 1.06% lithium oxide) delivers a mine life of 13 years.

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Wed, 26 Apr 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176892/sayona-mining-makes-key-appointment-to-fast-track-authier-lithium-project-176892.html
<![CDATA[News - Sayona Mining opens underwritten share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/176701/sayona-mining-opens-underwritten-share-purchase-plan-176701.html Sayona Mining (ASX:SYA) has today opened its share purchase plan (SPP), which is underwritten to the amount of $1.5 million.

The issue price will be determined at the issue date of new shares and will represent a 20% discount to the volume weighted average price over five days prior to the issue date.

Under the SPP, shareholders can apply for parcels of new shares valued between $500 and $15,000.

The proposed use of the funds raised under the SPP is as follows:

- To accelerate the development of the company’s Authier lithium project in Canada;
- To fund exploration activity on the company’s Australian lithium projects;
- To provide general working capital; and
- For corporate costs and the costs of the issue.

Sayona is currently awaiting assays from the phase two drilling program at Authier.

Drilling commenced in January 2017 and comprised 31 holes for 4,104 metres, which are now all complete.

Once all the remaining assay results from the phase two drilling are received, Sayona plans to update its JORC resource estimate.

Sayona is also progressing its Mallina project in the world-class Pilgangoora lithium district in Western Australia, where mapping and sampling programs have outlined a number of prospective lithium targets.

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Fri, 21 Apr 2017 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176701/sayona-mining-opens-underwritten-share-purchase-plan-176701.html
<![CDATA[News - Sayona Mining launches underwritten share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/176415/sayona-mining-launches-underwritten-share-purchase-plan-176415.html Sayona Mining (ASX:SYA) will pocket $1.5 million through an underwritten share purchase plan (SPP).

The funds will be used to accelerate the development of the Authier project in Canada.

More specifically, Sayona will allocate the new funds for:

- Resource upgrade following the completion of the Phase 2 drilling program;
- Geotechnical and hydrogeological programs to improve the pit wall slopes and reduce the life-of-mine waste movement;
- Further metallurgical testing to optimise recoveries and concentrate grades;
- Updating the February 2017 Pre-Feasibility Study and Ore Reserve;
- Studying the potential for producing value-added lithium carbonate and/or hydroxide; and
- Continuation of the environmental and mining lease work programs.


Plan details

Eligible shareholders can subscribe for up to $15,000 worth of new shares.

The price will be determined at the issue date of new shares under the SPP.

This will be based on a 20% discount to the volume weighted average price of Sayona shares traded on the ASX during the 5 days immediately prior to the issue date.

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Thu, 13 Apr 2017 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176415/sayona-mining-launches-underwritten-share-purchase-plan-176415.html