Sayona Mining Advances Revised Authier Lithium Project DFS

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THE BOURSE WHISPERER: Sayona Mining (ASX: SYA) informed the market that a revised Definitive Feasibility Study (DFS) for the company’s Authier lithium project in Québec, Canada is on track for release next month.

Sayona Mining said the DFS is currently being reviewed by an engineering consultancy and is based on a planned sustainable development approach of 2,600 tonnes per day production, a figure that it has determined will allow for an approximate mine life of 14 years and estimated annual average spodumene concentrate production of around 115,000 tonnes (6 per cent lithium oxide (Li2O)).

The company’s previous DFS released in 2018 showed the potential for a sustainable and profitable project.

In parallel with the DFS, Sayona has been progressing a revised Environmental Impact Study (EIS), as per the BAPE (bureau d’audiences publiques en environnement) process stipulated by the Québec Government.

The BAPE regulatory process entailsfurther community engagement, including the establishment of a project monitoring committee comprised of key stakeholders, including local municipalities, business groups, environmental organisations, First Nations representatives, community groups and other citizens.

Following a public consultation process (as per the Ministère de l’Environnement et de la Lutte contre les changements climatiques, or MELCC), Sayona has modified the EIS to reflect community feedback.

The company anticipates the revised EIS now likely will be submitted to the MELCC by year‐end, after which it will be submitted to the Public Hearings Office for further public hearings and review, ultimately leading to expected project approval under the BAPE in 2020.

Sayona has identified a bright future for the province’s lithium industry, given its proximity to U.S. battery markets and its advantages including access to low‐cost hydroelectric power, world‐class infrastructure including rail and road and skilled labour.

In the company’s announcement to the Australian Securities Exchange, Sayona Mining managing director Brett Lynch said Sayona’s investment in Québec and its plans to participate in the bidding process for the North American Lithium Inc (NAL) operation in the province the company announced in September, reflect its confidence in the province’s potential to be at the forefront of the lithium‐ion battery revolution.

“We are extremely positive concerning the outlook and will continue working closely with all stakeholders to ensure maximum community benefits from this key metal of the 21st century,” Lynch said.

 

Email: info@sayonamining.com.au

Web: www.sayonamining.com.au

 

Black Cat Syndicate Completes Raising to Fund Drilling

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THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) received firm placement commitments from professional and sophisticated investors to raise $5 million at 43 cents per share.

Black Cat Syndicate indicated the funds will be used for drilling programs across the company’s Bulong gold project in Western Australia.

The company anticipates drilling programs to commence in October to include extensional drilling on the new Myhree Southern Offset target, extensional drilling at Trump North, infill drilling aimed at upgrading the existing Resources at Myhree, and accelerated exploration drilling of Sub-audio Magnetic (SAM) targets in the Greater Woodline area, including Anomaly 38.

The company said the Myhree Feasibility Study will continue to a potential decision to mine, expected in the June 2020 quarter.

Individual study elements include metallurgical testwork, geotechnical studies, including diamond drilling, hydrogeological studies and general permitting.

SAM surveys have been completed to the north of Boundary and to the south of Myhree and the company has interpretation and target generation in these areas underway.

New targets near and along strike of existing Resources will be prioritised for drilling.

The new funding will also allow additional SAM surveys to be completed in early 2020 to extend coverage over a larger portion of the Bulong project.

“We are pleased to have sufficient funding to continue our exploration and Resource growth activities as well as complete our ongoing Feasibility Study which will lead to a potential decision to mine in the June 2020 quarter,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The placement was priced at a five per cent discount to our closing price on 30 September 2019.

“This is a strong endorsement of the results we have achieved and the inherent value investors see in Black Cat.

“We expect to have strong news flow over the balance of 2019.”

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

Lithium Australia Subsidiary Makes Cathode Material from Recycled Batteries

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced that its wholly-owned subsidiary company, VSPC Ltd, used lithium phosphate (LP) from spent lithium-ion batteries (LIBs) to create high-quality cathode material.

The material was, in turn, used to make and test lithium-ferro-phosphate (LFP) batteries, a type of LIB.

Lithium Australia explained that Australian Nuclear Science and Technology Organisation (ANSTO) used company technology to recover LP with a purity of more than 99.9 per cent from mixed metal dust (MMD) obtained from recycled LIBs.

The MMD was then commercially recovered by Melbourne-based Envirostream Australia Pty Ltd, in which Lithium Australia holds 18 per cent equity.

Envirostream is the only company in Australia capable of sorting, shredding and separating all energy metals, including lithium, from spent LIBs.

Once ANSTO had recovered the LP, it was shipped to VSPC’s pilot plant in Brisbane, Australia, where VSPC proprietary nanotechnology was used to synthesise LFP cathode material from the LP, with 100 per cent recovery to final product achieved with precise control of composition and phase purity.

Using that LFP cathode material, VSPC created new, 2032 coin-cell LIBs and electrochemically tested them, exceeding VSPC’s internal standards.

Lithium Australia declared that the achievement demonstrated the technological fit between its recycling process and the VSPC process for producing cathode material for LFP batteries.

The company believes the entire production cycle (lithium from recycled batteries → LP → LFP cathode material → new LIBs) demonstrates the potential for improved efficiency and reduced manufacturing cost.

VSPC will now use a blend of newly created LFP material and LFP material synthesised from recycled lithium to make and test cathodes for larger, commercial-format (18650) battery cells.

Lithium Australia indicated it is currently in discussions with industry players in China and elsewhere to establish a supply chain for LFP cathode material produced from the recycling of spent LIBs, highlighting that growth projections for such material are strong, given its suitability for applications such as the replacement of automotive lead-acid batteries and for largescale energy storage, including the provision of back-up power supplies for 5G communications stations.

“The production of LIBs from recycled battery material represents a genuinely renewable pathway for the battery industry,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“Recycling of this type meets the ethical, social and governance standards that the community expects.

“It also strengthens our capacity to deal with climate change by improving resource sustainability and reducing the environmental footprint of portable power.

“With demand for LIBs remaining strong, Lithium Australia is providing a supply chain solution that is independent of mainstream mineral producers, as well as producers of conventional battery chemicals.”

 

Email: info@lithium-au.com

 

Web: www.lithium-au.com

 

Consolidated Zinc Completes Plomosas Acquisition

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THE BOURSE WHISPERER: Consolidated Zinc (ASX: CZL) announced the completion of the acquisition of a 100 per cent interest in the subsidiary that holds the Plomosas Mine in Chihuahua State, Mexico.

Consolidated Zinc had previously announced, in September, an agreement with Retec Guaru S.A. de C.V, under which Consolidated Zinc would acquire the remaining 10 per cent interest in its already 90 per cent-owned subsidiary, Minera Latin American Zinc S.A.P.I de C.V. that holds the Plomosas Mine.

The purchase consideration for the acquisition of the Retec interest in MLAZ is a 1 per cent Net Smelter Return Royalty from the sale of minerals produced from Plomosas.

“The company is very pleased to have finalised the acquisition of a 100 per cent interest in Plomosas,” Consolidated Zinc managing director Brad Marwood said in the company’s announcement to the Australian Securities Exchange.

“Consolidated Zinc held 51 per cent equity only nine months ago, and through a series of acquisitions increased its interest to 90 per cent and now 100 per cent in a simplified corporate structure to add shareholder value.

“I would like to thank Retec, our partner in Plomosas, for working with the company throughout this process, and who also remains a committed long-term shareholder of Consolidated Zinc.”

 

Email: info@conzinc.com.au

Web: www.conzinc.com.au

 

Classic Minerals Appoints Industry Stalwart Klaus Eckhof

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THE BOURSE WHISPERER: Classic Minerals (ASX: CLZ) has welcomed Klaus Eckhof as a Corporate and Technical Advisor, effective immediately.

Classic Minerals said Eckhof will be advising the company on its Forrestania gold project generally with particular focus on its Kat Gap project.

Eckhof brings to the plate a wealth of experience having worked as a geologist for over 25 years developing mineral deposits around the globe, including Africa.

Eckhof’s chronology of employment is impressive, including time with Mount Edon Gold Mines Ltd as Business Development Manager before it was acquired by Canadian mining company Teck.

In 1994, he founded Spinifex Gold and Lafayette Mining, both of which developed gold and base metal deposits.

In late 2003, he founded Moto Goldmines, which acquired the Moto gold project in the Democratic Republic of the Congo (DRC) where he ran a team that delineated more than 20 million ounces of gold and delivered a feasibility study within four years from the commencement of exploration.

Moto Goldmines was subsequently acquired by Randgold Resources, who poured first gold in September 2013.

Eckhof was also formerly Executive Chairman of AVZ Minerals (ASX: AVZ), a mineral exploration company focused on developing the Manono project, located in the south of the DRC.

The Manono project boasts the largest JORC Measured and Indicated lithium hard rock resource globally.

Still in the DRC and Eckhof was instrumental in identifying the Bisie tin deposit, one of the largest tin deposits in the world, which was acquired by TSX-V listed Alphamin Resources Corp.

Classic Minerals said Eckhof’s appointment adds technical and international fund-raising expertise to the company as it seeks to expand its exploration programs at Forrestania and on the Kat Gap project in particular.

Eckhof will be responsible for marketing the company and its projects throughout North America and Europe.

“I am delighted that Klaus has accepted to join Classic Minerals as a trusted and capable advisor who brings a new and exciting vision to the Board and Management of Classic as Dean (Goodwin CEO) progresses with extensional drilling at Kat Gap,” Classic Minerals chairman John Lester said in the company’s announcement to the Australian Securities Exchange.

“We are privileged that Klaus with his integrity, dynamism and international network has agreed to guide, direct and enhance the vision of Classic Minerals Limited.”

 

Email: contact@classicminerals.com.au

Web: www.classicminerals.com.au

 

Lithium Australia Establishes Potential Recycled Battery Product Supply Stream

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced it has successfully recovered critical battery metals from spent lithium-ion batteries (LIBs).

Lithium Australia said the achievement had come about during test work undertaken with the Australian Nuclear Science and Technology Organisation (ANSTO), including proprietary refining technology developed by Lithium Australia that generates lithium phosphate (LP).

Based on the company’s internal process modelling, overall process recoveries for nickel and cobalt (greater than 90 per cent) result in a concentrate suitable for use as feed for conventional refining.

It has been estimated from the results that lithium recovery to a refined LP product will exceed 85 per cent.

The spent batteries LIT used during process development were collected, shredded and separated by Envirostream Australia Pty Ltd, of which Lithium Australia owns 18.9 per cent.

Subsequent physical processing of those spent battery materials recovered a mixed metal dust (MMD), which was then processed by ANSTO and the lithium recovered as LP that was, in turn, further refined using a proprietary hydrometallurgical extraction and purifying process.

The refined LP generated at ANSTO has been shipped to Lithium Australia’s wholly owned VSPC cathode material pilot plant in Brisbane, where it is to be converted to lithium-ferro-phosphate (LFP) for testing in coin-cell LIBs manufactured at the plant.

Lithium Australia claimed its combined flow sheet simplifies the steps required to transition from lithium materials to batteries without the need for a costly and energy-intensive roasting process.

The company signalled it intends to rebirth the lithium from spent LIBs by incorporating it into new LFP batteries as well as selling the nickel and cobalt recovered from those same spent LIBs to offtakers for further refining.

“Successfully recovering a precursor of such high purity for the production of new LIBs from material otherwise destined for landfill is a huge step forward for the battery industry,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“Lithium Australia, together with its partner Envirostream Australia, is investigating the commercial potential of this breakthrough.

“Right now, we’re in discussion with consumers of lithium, nickel and cobalt – both within Australia and overseas – and we see huge potential for a local battery recycling industry.”

 

Email: info@lithium-au.com

Web: www.lithium-au.com

 

Altech Chemicals Invited to German HPA Party

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THE BOURSE WHISPERER: Altech Chemicals (ASX: ATC) received an invitation letter from the state government of Saxony, Germany, proposing the company considers the construction of a second high-purity alumina (HPA) plant in the state.

“As HPA is recognised as a critical component in the lithium-ion battery materials supply chain, an Altech HPA plant in Saxony would be well positioned to support the regions push to create a major electric vehicle battery industry, with a secure materials supply chain,” Altech Chemicals said in its ASX announcement.

Altech’s German advisers have discussed the invitation with Minister-President of Saxony, Michael Kretschmer.

Based on these positive initial discussions, Altech indicated it intends to undertake further evaluation, which will include research on various government grants that the company has been advised may be available in support of the establishment of a HPA plant in eastern Germany.

“Whilst the company remains focused on the close of funding and the construction of its Malaysian HPA plant, it also recognises the forecast significant deficit of HPA supply commencing in 2020 and the opportunity that this may present in terms of a second HPA plant,” the company said.

Altech cited a recent market outlook report by CRU Consulting that identified a likely HPA 4N+ supply shortfall of approximately 20,000 tonnes per annum in 2021 (equivalent to around four of Altech’s 4,500tpa plants).

CRU forecast this could expand to a shortfall of some 50,000tpa by 2028.

“To this extent, the company is of the view that there is merit in commencing early stage planning for additional future HPA plants, now,” Altech continued.

“Considering the invitation letter from the Saxony state government and the strong signals from the European Union on its desire to foster a rapid transition to electric vehicles, and to establish a fully integrated materials supply chain to underpin the transition, the company’s current strategic thinking is for its next HPA plant to be located in Europe.”

 

Web: www.altechchemicals.com

Corazon Mining Appoints Terry Streeter as Chairman to Progress Lynn Lake

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) announced the appointment of Terry Streeter to the company’s board as non-executive chairman.

Corazon Mining said the appointment the leading nickel sector identity and executive will help it drive an accelerated exploration and development program at the company’s Lynn Lake nickel-copper-cobalt sulphide project in the province of Manitoba, Canada.

Corazon holds a 100 per cent beneficial ownership of the Lynn Lake nickel-copper-cobalt sulphide camp.

The company flagged its intentions to re-focus on Lynn Lake as its core asset where it will accelerate work programs to explore for high-grade extensions to existing mines as well as resource expansion.

“I know the Lynn Lake project from my time at Western Areas when the company made a discovery there in 2008,” Streeter said in the company’s announcement to the Australian Securities Exchange.

“The potential of the region has now been further enhanced by Corazon’s recent work and its ability to consolidate the entire mining camp and I’m confident that together we can create something special at Lynn Lake.”

Corazon has consolidated the entire Lynn Lake nickel camp and its extensive historical datasets, which includes more than 75 years of exploration and 24 years of mining information.

Corazon is the first company to have control of the entire Lynn Lake nickel camp since 1976, which provides it the opportunity to compete detailed interrogation and targeting within the mine area and across the wider project area.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Sayona Mining Declares Interest in North American Lithium Purchase

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THE BOURSE WHISPERER: Sayona Mining (ASX: SYA) made its intentions known in terms of Canadian lithium company North American Lithium.

Sayona Mining announced it would be participating in the bidding process for North American Lithium’s (NAL) operation in Québec, Canada, following on the heels of a Québec Superior Court ruling commencing an asset sale process for the shuttered mine.

NAL has a lithium mine and concentrator located in Abitibi near the mining district of Val d’Or, Québec where spodumene production was halted in February 2019.

In 2018, NAL produced around 114,000 tonnes of spodumene against its nameplate capacity of 180,000 tonnes.

In addition, the operation has the potential to produce battery-grade lithium carbonate with the necessary investment.

“NAL’s operation has unrealised potential and Sayona would welcome the opportunity to bring the world-class experience of our company and our partners towards revitalising the mine,” Sayona Mining managing director Brett Lynch said in the company’s announcement to the Australian Securities Exchange.

‘’In addition, our nearby high-quality Authier project, which is currently in the process of securing the necessary regulatory approvals, could be integrated bringing significant operational improvements.

“This could facilitate the development of a hub for lithium extraction and downstream processing in Abitibi, which is ideally positioned to participate in the growth of the North American battery sector.

“Québec needs a successful operation at NAL and we are keen to lead a turnaround plan, taking into account the interests of all stakeholders, including NAL employees, subcontractors, local and provincial government, First Nations and other local community members.”

 

Email: info@sayonamining.com.au

Web: www.sayonamining.com.au

 

Musgrave Minerals Enters JV with Evolution to Advance Cue Project

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THE BOURSE WHISPERER: Musgrave Minerals (ASX: MGV) has struck up a new friendship in the form of an Earn-in and Exploration Joint Venture Agreement with Evolution Mining (ASX: EVN).

The deal covers the Lake Austin portion of Musgrave’s Cue project in the Murchison District of Western Australia.

Under the terms of the agreement, Evolution will subscribe for approximately 18.6 million ordinary shares in Musgrave through a share placement at a price of 8.07 cents per share to raise $1.5 million, after which Musgrave will boast a bank balance of around $4.2 million.

Funds will be used to advance drilling at Mainland, Lena and Break of Day.

Musgrave will retain its interest in areas hosting known gold resources, including Break of Day and Lena, and the Mainland area.

Evolution can earn 75 per cent in the JV area by sole funding $18 million over five years with a minimum expenditure of $4 million to be completed in the first two years.

If Evolution does not spend the entire $18 million within five years, Musgrave will retain 100 per cent ownership.

Musgrave will be manager during the minimum expenditure period of the agreement.

“We are very pleased to partner with Evolution, one of the largest gold producers on the ASX and a highly regarded explorer,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The JV will fast track exploration and we look forward to leveraging Evolution’s extensive technical knowledge and financial resources with our in-house expertise to accelerate potential gold discoveries at Cue.

“This is a positive result for Musgrave and a strong endorsement of the company’s projects and upside exploration potential.

“Musgrave will retain its interest in all areas hosting existing gold resources including Break of Day and Lena along with the Mainland option area which totals 172 square kilometres of exploration tenure.

“We welcome Evolution to the share register and the additional funding will support Musgrave’s drilling and discovery efforts on the 100 per cent retained ground.”

Musgrave has commenced an RC/diamond drilling program at Lena with further results expected in late-September.

The aim of the program is to focus on the high-grade shoots and extend the resource with follow-up RC drilling of recent high-grade gold results at Mainland and aircore drilling of new undercover targets planned for later this year.

Musgrave and Evolution will work towards commencing a new drilling program at Lake Austin North and other lake targets where there is evidence of a potential large gold system.

Further drilling at Break of Day to extend and grow the existing resource is being planned.

Development studies on the Break of Day and Lena gold deposits to evaluate options to optimise cash flow and maximise shareholder returns are ongoing.

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au