Quebec lithium project receives positive definitive feasibility study

Sayona Mining touted its Authier lithium project in Canada after receiving a positive definitive feasibility study released Monday.

Australian-based Sayona Mining says if the project becomes a mine, it could create 150 construction jobs and 160 positions for operators.

Other highlights of the DFS were the following:

  • Pre-tax NPV of C$184.8 million and IRR 33.7% (real terms at 8% discount rate)
  • Annual average concentrate production of 87,400 tonnes at 6% Li2O
  • Average annual revenue of C$80 million
  • Mine gate cash costs of C$416/t and FOB Port cash costs of C$482/t (US$366/t)
  • Initial capital expenditure of C$89.9 million
  • Updated Ore Reserve of 12.10 Mt @ 1.00% Li2O (Proven Reserve 6.10Mt @ 0.99% Li2O and Probable Reserve 6.00 Mt @ 1.02% Li2O) delivers a mine life of 18 years.

The Authier project is 45 kilometres southeast of Val d'Or.

To drive the project forward, the company hired a new vice president of corporate affairs, Alexis Segal. Segal previously worked at Rio Tinto in largely the same role. Sayona announced Segal's hiring yesterday.

Creative Commons image of greenlight courtesy of Tawheed Manzoor