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Sayona Mining nears completion of DFS for Authier Lithium Project

Excellent progress is being made on the study with completion expected in July.

Pilot plant for Authier lithium
A pilot plant has been used for testing material from the Authier project

Sayona Mining Ltd (ASX:SYA) is nearing completion of a definitive feasibility study (DFS) which is expected to lead to development of the Authier Lithium Project in Quebec, Canada.

Excellent progress is being made on the DFS by Canadian consultants BBA with completion expected next month.

Moving towards development

The company believes this will be a transformational event as it evolves to the development stage.

This is also expected to create potential for a share value uplift with Sayona now trading at about 3.7 cents.

READ: Sayona Mining begins test program to produce lithium carbonate in Canada

Sayona’s primary objective at Authier is to complete the studies and permitting required to begin construction of the project.

The DFS will incorporate the new Authier JORC resource estimate and results of the successful 5-tonne pilot metallurgy program.

Capital and operating costs will be derived to a plus or minus 10-15% level of accuracy.

BBA has extensive experience in the Canadian mining industry and has been involved in feasibility studies for other Quebec lithium projects including Nemaska and the North American Lithium project.

READ: Sayona Mining secures funding as it closes rights issue

All base-line environmental field studies are complete and permitting activities including social and first nation consultation are underway.

On completion of the DFS and stakeholder consultations, Sayona will lodge final documentation required to apply for a Mining Lease.

Offtake discussions

Sayona is engaging with potential off-takers and strong interest has been received from Chinese concentrate converters interested in purchasing concentrates or value-adding in -country.

Sayona will undertake a marketing roadshow in July to present the DFS outcomes as well as seeking secure binding offtake contracts.

The company is engaged with a number of parties interested in financing the project. Potential financing strategies include royalties, concentrate pre-sales and convertible notes.

Should permitting and financing be successful, the company envisages beginning construction in early 2019 with the first production in 2020.

Quick facts: Sayona Mining Ltd

Price: 0.01 AUD

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