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 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 been awarded the final permit for the restart of the NAL operations.

The latest regulatory approval is among more than 130 permits to resume mining operations obtained from provincial and federal government authorities.

The company has significantly upgraded the equipment and facilities of the NAL complex to ensure the successful optimisation of production. As of the end of October 2022, procurement was 98% completed, with construction activities ramping up and mining contractors on site.

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.