NEMASKA LITHIUM COM NPV
Shares of NEMASKA LITHIUM COM NPV (OTCMKTS:NMKEF) gained 12.7%, days after the Lithium hydroxide/carbonate supplier provided an update on concentrate production at the Whabouchi mine. According to the mining company, the mine is producing flotation concentrate at an average grade of 6.3% Li2O from mineral fines processed via flotation circuit.
NMKEF Stock Performance
NEMASKA LITHIUM COM NPV (OTCMKTS:NMKEF) continues to enjoy renewed investor interest in Wall Street. The stock has been trading in an uptrend since June, a period in which it has registered a new 52-week high of $1.43 a share.
The stock is already up by more than 50% for the year. A key driver of the stock’s performance has been the growth in demand for Lithium in the auto industry as companies shift their attention to electric cars. Nemaska Lithium is currently developing one of the most important spodumene lithium hard rock deposit in Quebec, as it looks to address the needs of electric cars, cell phones, and consumer products markets.
In the push to become a key supplier to the emerging lithium battery market for electric cars, Nemaska Lithium has produced 20 tons of battery grade Lithium Hydroxide. The customer is reportedly using the lithium sulphate solution as the primary source of raw material.
“Our processes at both the mine site and the Hydromet plant are technically sound. At the Phase 1 Plant, the purification, electrolysis and crystallization sections of the plant are performing very well, as evidenced by the 20 tons of battery grade lithium hydroxide which has been produced,” said CEO Guy Bourassa.
NEMASKA LITHIUM COM NPV (OTCMKTS:NMKEF) has already identified a number of customers who have requested lithium hydroxide and lithium carbonated from its Phase 1 plant. The company’s primary goal going forward is enhancing the processing of spodumene concentrate that is to be used to produce samples of lithium salts to engage potential clients.
In addition, the company is evaluating a number of financing alternatives for the project. Talks are already underway with private lenders as well as traditional large banks as the company looks to raise debt financing for the project.
“We are in the fortunate position to have a number of excellent financing options on the table at the moment and we are currently weighing the merits of each to select the best scenario for our shareholders,” said Mr. Bourassa.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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