Even though Sayona Mining lost almost 30% of its market value on Thursday, Quebec is still hoping to “turn Quebec lithium into value” following the announcement by its largest shareholder Piedmont Lithium Limited (PLL) that it would withdraw all of its shares out of “precautionary reasons.” integrate”. Chain, the transformation of which will provide the necessary stability.
“Sayona is expected to attempt to rescue the ship from its La Corne mine and disrupt the development of its other projects. But be that as it may, this evil woman shows once again that you can't take risks,” responded the Citizens' Committee to Protect the Esker and the Coalition for Quebec to Look Better.
“It is high time that the Eskers of Abitibi-Témiscamingue were no longer threatened by this economically fragile mining industry. The government must stop being patient,” they added.
“Provided by Google”
At the beginning of January we learned that around fifteen managers had been thrown out.
Sayona has projects in Abitibi-Témiscamingue and Eeyou Istchee Baie-James. Three years ago, Sayona (75%) and Piedmont Lithium (25%) swallowed North American Lithium (NAL), which adopted the name “Lithium America North.”
In Teslas
Three years ago, Le Journal reported that there would be lithium under the hood of Tesla from the belly of Abitibi after two Australian mining giants reached an agreement to sell the commodity to Elon Musk's company.
Interviewed by Le Journal, Sayona recalled that Piedmont remains a 25 percent shareholder in Sayona Québec.
“The North America Lithium Complex (LAN) remains operational and this is our priority. The process for the Authier project is maintained. As for the Moblan project, we have just published a feasibility study,” said Bianca Galimi of Sayona Communications.
Last Monday, Le Journal reported that the Moblan project, one of the sites in Nord-du-Québec where mining company Sayona plans to build a lithium mine, would have a net present value of $2.2 billion, assuming the price would be metal rising.
Quebec remains on track
The office of Economy Minister Pierre Fitzgibbon says it is “taking note of the day’s stock market results”.
Pierre Fitzgibbon archive photo, QMI Agency
“The value of commodity minerals such as unconverted lithium [spodumène] is very volatile and therefore listed companies exposed to raw materials are subject to fluctuations,” explained its attaché Mathieu St-Amand.
“Our vision is to integrate Quebec lithium into a value chain in which its transformation ensures the stability necessary for its exploitation, regardless of commodity prices,” he concluded.