Piedmont Lithium Announces Strategic Investment in Quebec Hard-Rock Lithium Developer Sayona Mining
Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has entered into agreements (“Agreements”) to establish a strategic partnership with Sayona Mining Limited (“Sayona”) through the purchase of equity stakes in Sayona and its 100% owned Quebec subsidiary, Sayona Quebec Inc (“Sayona Quebec”), as well as a binding supply agreement for at least 50% of Sayona Quebec’s planned spodumene concentrate production.
Piedmont will acquire an initial 9.9% equity interest in Sayona for approximately US$3.1 million (“
Share Placement”) and two unsecured convertible notes (“
Convertible Notes”) for approximately US$3.9 million that upon conversion would result in Piedmont acquiring an additional 10.0% equity interest in Sayona. Piedmont will appoint one director to Sayona’s Board of Directors. Piedmont will also purchase a 25.0% stake
Sayona Mining Ltd (ASX:SYA) Piedmont Lithium Invests In Sayona - Strategic Partnership
Piedmont Lithium Invests In Sayona - Strategic PartnershipBrisbane, Jan 11, 2021 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (
Nasdaq:PLL) that will accelerate the development of Sayona s lithium projects in Quebec, Canada.
Under the agreements, Piedmont will acquire an initial 9.9% equity interest in Sayona ( Share Placement ) and two unsecured convertible notes ( Convertible Notes ), which upon conversion would result in Piedmont being issued a further 10% of Sayona s issued capital for total consideration of approximately US$7 million.
One of the convertible notes is immediately convertible at Piedmont s option, while the second s convertibility is subject to Sayona shareholder approval. Assuming such approval, both convertible notes will convert to equity upon completion of the investment. Piedmont will have the right to nominate one director to Sayona s Bo
Sayona Mining Ltd (ASX:SYA) Completes Tansim Acquisition
CVE:QPM) for the remaining 50% stake in tenements subject to an option agreement.
Highlights
- Sayona completes acquisition of Tansim Lithium Project, Quebec following final payment of C$250,000 (approx. A$256,000) to Quebec Precious Metals Corporation (TSX:QPM.V) for tenements subject to option agreement
- Project forms part of new lithium hub in Abitibi encompassing flagship Authier Lithium Project and North American Lithium (NAL) (subject to successful bid).
Located 82 kilometres south-west of Sayona s flagship Authier Lithium Project, Tansim comprises 191 mineral claims spanning 11,042 ha of prospective lithium acreage.
Drilling conducted last year comprising 11 holes for 1,129m resulted in an Exploration Target (refer note below) for the Viau-Dallaire prospect of between 5 million and 25 million tonnes, at an estimated grade of 1.2 - 1.3% Li2O (refer ASX release 19 November 2019).
Sayona Mining Ltd (ASX:SYA) Authier EIS Studies Advance as EV Sector Accelerates
Authier EIS Studies Advance as EV Sector AcceleratesBrisbane, Dec 21, 2020 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (
Highlights
- Authier Lithium Project s environmental studies progress, with completion of response to Quebec Government queries
- Flagship project to form key part of Abitibi lithium hub, amid acceleration of electric vehicle (EV) sector globally and resulting increase in lithium demand.
Following the lodgement of the Authier s project EIS in January, Sayona received feedback from Quebec s Ministry of the Environment and the Fight against Climate Change (MELCC) for further follow-up. These included various issues normal for a project of this type, including flora and fauna, impact on air quality, roads and traffic and water management.