Nemaska Lithium Refiles Feasibility Study to Reflect Minor Oversights
June 8, 2016 (Source) — Nemaska Lithium Inc. (“Nemaska” or the “Corporation”) (TSX VENTURE:NMX)(OTCQX:NMKEF) announced that it has refiled, on Sedar, its 2016 Feasibility Study on the Whabouchi Mine and Concentrator and Hydromet Plant to reflect clerical data entry errors in certain text and tables. The financial model for the report, including the Feasibility Study Highlights that were released on April 4, 2016, were not impacted by the corrections. In addition one of the 14 independent Qualified Persons that authored the report has been replaced as a result of such individual not meeting the definition of “independent” as set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Nemaska intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market. The Corporation is developing in Québec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska’s Whabouchi mine will be shipped to the Corporation’s lithium compounds processing plant to be built in Shawinigan, Québec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which patent applications have been filed.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements contain 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.
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