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

Location
Quebec, Canada.

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

Project Description
NAL is a brownfield openpit mining operation with a concentrator.

The project is expected to have a 20-year mine life, with average concentrate production of 226 000 t/y during the first four years of operation.

Life-of-mine average concentrate production is estimated at 190 039 t.

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 A$2.2-billion and an internal rate of return of 4 701%, with a capital payback of two years.

Capital Expenditure
Not stated.

Planned Start/End Date
In March 2023, Sayona announced the successful restart of production at NAL. The restart was achieved on time and on budget.

Latest Developments
Sayona Mining has received first cash proceeds from NAL, following the first shipment of spodumene concentrate.

About 20 500 t of spodumene concentrate was sold through a major trading company the company reported on September 6, and an initial 90% of the cash payment has been received, with the balance of the payment due once final disport assays and weights are made available on the arrival of the export vessel to its destination.

“We are focused on continuing to safely ramp up production at NAL and consistently delivering high quality spodumene concentrate to port ahead of multiple shipments planned for the remainder of the year, delivering increasing cash proceeds to NAL for the benefit of the joint venture (JV). It is also pleasing to see our partner at NAL in readiness to take their first shipment under our offtake agreement,” interim CEO James Brown said.

Sayona has said that its current port inventory is about 30 000 t of spodumene concentrate, sufficient to supply offtake partner Piedmont Lithium with its maiden cargo of about 15 000 t, due to be loaded this month.

The current port inventory, along with the positive additional product volume from mine production, will be sufficient for an upcoming cargo for the NAL JV in late September and October, Sayona has said.

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.