Sayona Mining Australia Shares Are Up 7.6% Today
Shares of Sayona Mining Australia are up 7.6% today. The company is a lithium producer with a big tenement portfolio and plans to start producing lithium from its NAL project in 2023. The company recently provided an update on its North American Lithium operation, and this news has the market buzzing.
Shares in sayona mining australian stock exchange are up 7.6%
Sayona Mining Limited is engaged in the exploration of lithium, graphite, and gold deposits. It currently holds a 100% interest in the Authier Lithium Project in Quebec and a 60% interest in the Moblan lithium project in Northern Quebec. Its shares are currently trading at $6.50 per share, up 7.6% from the price of $5.66 on April 18. The company recently updated its shareholders on its progress on its North American Lithium operations.
Sayona Mining has been a great pick for investors who are looking for an opportunity in lithium mining. Its projects are located in Western Australia and Quebec. The company has stakes in the Moblan Lithium Project and the Authier project, which is a smaller mine located near the NAL property. The company expects to start production in 2023.
The company is a lithium producer
Sayona Mining is a Canadian lithium producer that owns 60% of the Moblan Lithium Project in Northern Quebec. The project is located in the well-established lithium mining region of Eeyou-Istchee James Bay. Sayona has committed to resuming lithium production and downstream processing at the project in Quebec. The company’s goal is to begin production of spodumene (lithium) in 2022.
The company has a history of investing in lithium projects. In its latest PFS, the company confirmed that the Abitibi lithium hub has significant potential. The company currently has projects in Western Australia and Quebec. It also has a strategic partnership with Piedmont Lithium Inc. (PLI). The Moblan Lithium Project is Sayona’s largest lithium resource base in North America.
It has a large tenement portfolio
Sayona Mining has a diversified portfolio of exploration assets in Western Australia. Its portfolio includes the Pilbara region, where it is pursuing projects that are prospective for gold and lithium. The company is also exploring its lithium assets, with plans to commence drill planning at the Mallina project. The company is also working on developing new methods for exploration in Western Australia.
Sayona’s Pilbara portfolio includes tenements on a number of prospective properties. Its Pilbara tenures span more than 1,000 sq km. These tenements are located near the world-class Pilgangoora lithium district, which is said to have a high gold content.
It has plans to restart production at its NAL project in 2023
Sayona Mining is working to restart production at its NAL project in Quebec, Canada. The company expects to start commissioning the concentrator by late Q3 or early Q4 2022. It plans to complete a definitive feasibility study later this year. It will also study the possibility of installing a lithium hydroxide or lithium carbonate plant at the NAL site. By restoring production at NAL, Sayona hopes to support the Quebec government’s battery strategy.
The company’s plans to restart production at NAL have been progressing, with construction of 50% of the plant completed. The company has also hired senior staff and secured key long-lead items to start production. By September, it expects to have doubled its workforce.
