We are now seeing the market stand up and take notice of Sayona Mining which continues to deliver on the Authier Lithium Project in Quebec, with recent advances including delivery of a positive updated PFS for the Project. Quebec is a well-regarded mining jurisdiction that ranked 6th globally in the 2016 Fraser Institute Survey of Mining Companies, with Authier located in an area well served by infrastructure.
Authier is a quality hard rock spodumene lithium project, with the potential for a 15-year life, low cost, near term development – the upgraded PFS returned a pre-tax NPV of C$221 million and an IRR of 56% for an expected up-front capital cost of C$64 million. The Study incorporated the results of metallurgical optimisation work, with this showing that Authier should be able to produce a high quality spodumene concentrate with a grade of at least 6% Li2O and a recovery of +82%.
Resource and reserve upgrades were also included, with the Company now undertaking further drilling, with results to be used for further resource expansion and optimisation, as well as collecting a bulk metallurgical sample for pilot scale test work – we expect steady news flow over coming months as Sayona works towards completing a DFS at Authier, as well as exploring over its prospective Western Australian lithium portfolio.
To read our update report on this active company please follow the link below.