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Sayona Mining directors buys shares under renounceable rights issue

Last week, Sayona completed the operation of its pilot lithium plant program in Canada.

Authier project
Further testing will continue over the next six months

Sayona Mining Ltd (ASX:SYA) has had its shares purchased under a renounceable rights issue by its directors.

The entities in which director Allan Buckler has a beneficial interest spent $100,000 buying 1.9 million shares and 980,392 listed options.

The entities in which director Paul Anthony Crawford has a beneficial interest spent $78,504 buying 1.5 million shares and 769,650 listed options.

Director James Stuart Brown directly purchased 138,587 shares and 69,294 listed options for $7,068.

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

Last week, Sayona completed the operation of its pilot plant program in Canada in preparation for completion of a definitive feasibility study (DFS).

Feed samples for the pilot plant were taken from the company’s flagship 100% owned Authier Lithium Project in Quebec.

READ: Sayona Mining finalises lithium processing flow sheet after completing pilot program

The objectives of the piloting program were to produce a 6% lithium oxide concentrate at recoveries of greater than 80% using feed samples that represented potential future mining material.

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.

Quick facts: Sayona Mining Ltd

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ASX:SYA
Market: ASX
Market Cap: $19.45 m
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