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Nemaska Lithium Provides an Update on the Whabouchi Project Deployment Plan Strategic Financing Action Plan Underway Whabouchi Construction Continues, Shawinigan to Focus on Detailed Engineering Changes in the Construction Team P1P Continues and Receives International Praise QUÉBEC CITY, Québec, March 25, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) today provides an update on the deployment of the overall Whabouchi project. “The past couple of weeks have allowed us to develop an action plan to enable a more efficient and prudent pursuit of our activities. Realistic, yet difficult decisions had to be made to increase control over our operations until additional financing is completed or other strategic alternatives are achieved. We do believe that we have the right partners to reach our goals, and our team is fully committed to the endeavour. Our eyes remain set on the ultimate goal of bringing this world-class project to commercial production,” said Guy Bourassa, President and CEO of Nemaska Lithium. Strategic Financing Action Plan Clarksons Platou Securities and National Bank Financial have been mandated by the Corporation to lead a dual-track financing action plan. This plan is resulting from the analysis of equity raise and M&A opportunities to carry the project through the production stage at the mine and the electrochemical plant. This initiative is part of the review of strategic alternatives available to the Corporation which is currently underway with the assistance of the Special Committee comprised of independent members of the Board of Directors. A New Pace for Construction Activities In parallel with the financing action plan, the Corporation will be optimizing the use of cash on hand over the coming months. Important decisions have therefore been made. The Whabouchi mine construction pace will be adapted to start production in a timely fashion. As we await the arrival of the mine equipment fleet over the next few weeks, our mine management team is fully dedicated to site and pre-production activities. Concerning the Shawinigan commercial plant, detailed engineering continues as planned, while construction will be put on hold to resume once the additional financing is completed. Increasing the level of detailed engineering will normally contribute to reducing construction and commissioning risks for the commercial plant, in addition to bringing more certainty in the bidding process. Changes in the Construction Team Robert Beaulieu, Vice-President, Operations, is taking the helm of construction activities for both the Whabouchi mine and the Shawinigan electrochemical plant. He will be supported by Ronald Bougie, who is joining Nemaska Lithium today as Vice President, Engineering and Construction. Several other changes are being implemented to strenghten controls over management of the construction work, notably as regards the centralization of procurement and purchasing. The Phase 1 Plant Continues to Impress Globally Production of lithium salts and process enhancement for the commercial phase continue out of the Shawinigan demonstration plant. Lithium hydroxide deliveries to Johnson Matthey are ongoing, as more potential clients have requested lithium hydroxide monohydrate samples internationally. Thanks to the sustained and dedicated work of our production team, the outstanding quality of those samples has already been praised by high-profile end-users. Conference Call Nemaska Lithium will host a conference call today at 11 am EST. The Corporation’s President and CEO, Mr. Guy Bourassa, will discuss this morning’s announcement. The call can be accessed at the following: Online: https://edge.media-server.com/m6/p/i44237jv |
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| aus der Diskussion: | Aussichtsreiche Lithiumaktie |
| Autor (Datum des Eintrages): | Zeex (25.03.19 14:31:04) |
| Beitrag: | 2,128 von 2,532 (ID:60188792) |
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