Sayona Mining Limited (ASX: SYA) has submitted a bid for North American Lithium (NAL) in Québec, Canada with the Court‐Appointed Monitor, Raymond Chabot Inc.
Sayona’s Managing Director, Brett Lynch, said the company has assembled a world‐class team to support its bid for NAL, encompassing the necessary operational and technical expertise together with environmental, engineering and financial know‐how to ensure a successful turnaround.
“Importantly, Sayona’s bid has the unique advantage of being able to combine lithium produced from the company’s nearby Authier Lithium Project with the lithium at the NAL site, facilitating a significant improvement in plant performance and economics,” Mr Lynch said.
“Today’s submission is an important step not only for Sayona and NAL, but also for the Québec Government’s plans to develop a sustainable and profitable lithium industry,” Mr Lynch said.
“We are confident we have the right team with the necessary experience and financial capacity to transform NAL. We look forward to engaging with the administrator and other key parties to successfully conclude the bidding process.”
In Western Australia, the company has a joint venture with leading lithium producer Altura Mining concerning its exploration portfolio in the world‐class Pilgangoora lithium district.