Nemaska Lithium Files Whabouchi Feasibility Study and Continues Strategic Discussions
July 2, 2014 (Source: Marketwired) — Nemaska Lithium Inc. («Nemaska» or the «Corporation») (TSX VENTURE:NMX) (OTC:NMKEF) announced today that it has filed its Feasibility Study on the Whabouchi Mine and Concentrator to be located in the Eeyou Istchee / James Bay Region of Quebec and the Hydromet Plant to be located in Salaberry-de-Valleyfield, Quebec.
“Initial reaction from the industry (lithium end users and strategic partners) to the highlights of the Feasibility Study released on May 13, 2014 was very positive,” commented Guy Bourassa, President and CEO. “With the filing of the Feasibility Study report, we are now on track to continue discussions with potential end users and partners that were waiting for the details of the report before furthering their review of the project.” Mr. Bourassa continued, “We are seeing a growing interest in lithium hydroxide from a number of end users in need of high a purity lithium hydroxide product.”
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Lithium hydroxide is emerging as the chemical compound of choice for the growing lithium-ion battery market due to several factors including: a longer life cycle; better power density (last longer between charges) and enhanced safety features (more tolerant to temperature changes, especially high heat).
Nemaska intends to become a lithium hydroxide and lithium carbonate producer based in Quebec and has filed patent applications for its proprietary methods to produce these compounds. In tandem, the Corporation is developing one of the richest spodumene lithium hard rock deposit in the world, both in volume and grade. Spodumene concentrate produced at Nemaska’s Whabouchi mine and from other global sources will be shipped to the Corporation’s lithium compounds processing plant to be built in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate mainly for the growing lithium battery market.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward‐looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>