Name of the Project
North American Lithium (NAL) project.

Location
Quebec, Canada.

Project Owner/s
Sayona Quebec is 75%-owned by Sayona Mining and 25%- owned by Piedmont.

Project Description
A positive prefeasibility study completed in May 2022 has confirmed the project’s technical and financial viability.

The project has a mine life of 27 years, based on Joint Ore Reserves Committee-compliant proven and probable reserves of 29.2-million tonnes grading 0.96% lithium oxide.

Conventional bulk mining methods will be used to mine using hydraulic excavators, dump trucks and drill-and-blast, coupled to a run-of-mine stockpile. The processing plant will have a capacity of 1.5-million tonnes a year and will produce 163 266 t/y of spodumene concentrate for total spodumene production of 4.4-million tonnes over the mine’s life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of C$952-million and an internal rate of return of 140%, with a capital payback of two years.

Capital Expenditure
A$102-million.

Planned Start/End Date
The operation is on track for resumption of spodumene concentrate production in the first quarter of 2023.

Latest Developments
Sayona Mining has launched a prefeasibility study (PFS) for the development of downstream processing options at the NAL operation.

Sayona is working closely with its partner Piedmont Lithium to examine options for lithium carbonate or hydroxide production in Quebec.

The PFS will examine the production of lithium carbonate from spodumene produced at NAL, where production is scheduled to start in the first quarter of next year.

The study will provide valuable intelligence on future planned downstream processing in Quebec, which could prove to be a significant value-adding boost to enhance the long-term value and profitability of the NAL operation.

The development of downstream capabilities also forms part of Sayona and Piedmont’s commitments to Investissment Quebec and the Quebec government in the NAL acquisition.

The NAL complex already includes about 50% of the facilities required to produce lithium carbonate, having been partially built by NAL’s previous owners.

Key Contracts, Suppliers and Consultants
L. Fournier & Fils (mining contract).

Contact Details for Project Information
Sayona Mining, tel +61 7 3369 7058 or email info@sayonamining.com.au.