PHOENIX, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (TSX: NMX) (OTCQB: NMKEF) (“Nemaska Lithium” or the “Corporation”) is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. The President and CEO, Guy Bourassa, joined Stock Day’s Everett Jolly to talk about their completely financed operation.
At the start of the interview, Jolly asked about construction updates for Nemaska Lithium Inc.
“We have both sites,” Bourassa explained. “One for the conversion and one for the mine. We are more advanced in the mine. Currently we are pouring a lot of concrete before the freezing period.”
Bourassa said they are planning to have all of the crushing and sorting buildings up before the snowfall. He then went on to talk about the concentrator, saying they have completed the foundation, the building was already up and they are ready to move equipment inside. He says they are on track to complete everything by the third quarter of 2019.
Jolly then asked if Bourassa could explain to the listeners more about his business. Jolly noted that Nemaska Lithium Inc concentrates on high-purity lithium hydroxide and lithium salts, but Jolly wanted to know what makes the company special.
“Well the main reason we are so special and quite unique is that we are going to be a chemical company, vertically integrated, from the mine to conversation of salt, mainly hydroxide and carbonate. Both of which are required by the battery manufacturers,” said Bourassa.
He went on to explain that being vertically integrated all in the same jurisdiction, in the province of Québec, gives them a leading advantage cost wise to the competition elsewhere in the world.
Jolly then turned the conversation to a budget update on construction. Bourassa explained they have about 50% of the equipment already ordered and purchased.
“Engineering is also about 80% completed, so we are online with the budget and online with the construction schedule with the mine. We are less advanced with the electrochemical plant, which is a three-year construction calendar. I expect it to be completed in the third quarter or second half of 2020. So, everything is online and still on budget.”
Jolly then noted they’ve raised a lot of money in the past 6 months and asked if Nemaska Lithium Inc. was looking at any mergers and acquisitions. Bourassa said their focus is primarily on completing the construction on budget.
“Of course, we don’t close our eyes and our ears and we are always looking for potential acquisitions or potential partnerships. But very, very clearly all of our efforts, liquidity, and time is dedicated to make sure we make a success out of the construction and ramp up of our operation here,” said Bourassa.
For a listen to the full interview, including hiring efforts, listen to the entire podcast here: https://upticknewswire.com/featured-interview-guy-bourassa-of-nemaska-lithium-inc-otcqx-nmkef-2/
About Nemaska Lithium
Nemaska Lithium is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, Nemaska Lithium intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
Nemaska Lithium is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
Contact:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the expected unfolding of activities and anticipated start of production at the Whabouchi mine and Shawinigan plant sites, constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Certain important assumptions by the Corporation in making forward-looking statements include, but are not limited to, the fulfillment of all conditions precedent to receive the remaining proceeds from the project financing being the second tranche payment under the Streaming facility and the Bonds offering proceeds, such that all proceeds from the CAD1.1B financing package will be received the Corporation.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the concentrate production expected to start in H2 2019 with lithium salts production expected in H2 2020, (ii) the mine construction having a 12 to 15 months schedule, (iii) the electrochemical plant having a 27-month construction schedule, (iv) the completion of concrete pouring for certain buildings and major equipment before winter 2018-19, (v) the closing of the buildings for the garage, ore sorters and crushing in January 2019, allowing for equipment installation during the winter 2018-19, (vi) the plant building being ready on schedule to receive equipment for the electrochemical plant, (vii) the move-in to the Shawinigan administrative office by this year-end, and (viii) generally, the above “About Nemaska Lithium” paragraph which essentially describes the Corporation’s outlook. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Whabouchi mine and/or the Shawinigan electrochemical plant will ever start production, as future events could differ materially what is currently anticipated by the Corporation.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future, and, more particularly, about management’s endeavors to (i) fulfill the remaining conditions to access the remaining proceeds from the CAD 1.1B financing package, and (ii) complete construction and commissioning both the Whabouchi mine and the Shawinigan electrochemical plant such that both sites are brought to commercial production. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the “Risk Factors” section of the Corporation’s Annual Information Form dated October 5, 2017 and the “Risk Exposure and Management” section of the Corporation’s quarterly Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation's website at: www.nemaskalithium.com.
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