Nemaska Lithium, Inc. (OTCQX: NMKEF) operates as a lithium hydroxide and carbonate supplier. Shares of the lithium extraction company are rallying 8.35%, through early trading on Monday, December 4, 2017. Over the past month, Nemaska Lithium, Inc. has seen average daily volume of 283,458 shares. However, volume of 350,597 shares or dollar volume of $596,014, has already exchanged hands on the day.
Shares of Nemaska Lithium, Inc. are gaining today, after the company announced that it has produced 1.5 tons of battery grade lithium hydroxide, which was made from its Whabouchi mine concentrate. The lithium hydroxide is ready for delivery and will be shipped today to the client company is Quebec. Here is the full press release detailing of the first delivery of its lithium hydroxide:
Nemaska Lithium, Inc. Press Release:
QUEBEC CITY, QUEBEC–(Marketwired – Dec 4, 2017) – Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX)(OTCQX:NMKEF)(FRANKFURT:N0T) is pleased to announce that it has produced 1.5 tonnes of battery grade lithium hydroxide, made from Whabouchi spodumene concentrate. Independent laboratory analyses confirm that the lithium hydroxide produced from its Phase 1 Plant in Shawinigan meets the specifications of cathode manufacturers globally. The lithium hydroxide is ready for delivery and is scheduled to be shipped today to a cathode manufacturer in Québec. Production of lithium hydroxide from Whabouchi mine concentrate is ongoing at the Phase 1 Plant and additional deliveries of lithium hydroxide will occur on a regular basis over the next months.
The lithium hydroxide was derived from a 6.3% Li2O spodumene concentrate that was produced from a bulk sample taken from the Whabouchi Mine during 2017. Approximately 1,100 tonnes of concentrate were produced (see August 14, 2017 press release). This concentrate will be converted during the coming months into lithium hydroxide samples for customers globally to begin qualifying Nemaska Lithium’s products.
“This is the first time a new entrant to the market has produced battery grade lithium hydroxide from ore to final product,” commented Guy Bourassa, President and CEO of Nemaska Lithium. “We are very pleased with the purity level of the lithium hydroxide produced to date, and have verified that our product is at least of the same quality as lithium hydroxide currently sold to cathode manufacturers around the world. This is a major step forward for Nemaska Lithium as it confirms the quality of its product as well as the robustness of its electrochemical process.”
Bourassa continued, “I would also like to thank the Nemaska Lithium team members for all their efforts, allowing for the achievement of this significant milestone in the Corporation’s history. Their efforts in building, commissioning and running the Phase 1 Plant have paid off and I am very proud of the team and the result of their work.”
About Nemaska Lithium
Nemaska Lithium’s vision is to “Facilitate access to green energy through its products and processes, for the benefit of humanity”. It intends to become a lithium hydroxide and carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, energy storage, cell phones, tablets and other consumer products. The Corporation is developing in Quebec, Canada, one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium’s Whabouchi mine will be shipped to the Corporation’s lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which the Corporation holds nine issued patents and several patent applications that are pending in different countries, covering different aspects and improvements of its proprietary technology for producing high purity lithium hydroxide and carbonate, in an eco-friendly fashion.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, any information as to future deliveries of lithium hydroxide originating from Whabouchi spodumene concentrate on a regular basis, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws and are based on expectations, estimates and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the use of spodumene concentrate to produce lithium hydroxide during the coming months, (ii) the delivery of lithium hydroxide samples to customers globally, (iii) the qualification of Nemaska Lithium’s products during the coming months, and (iv) generally, the above “About Nemaska Lithium” paragraph which essentially describe the Corporation’s outlook. 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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. 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 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.