Sign up USA
Proactive Investors - Run By Investors For Investors

Nemaska Lithium's proprietary tech performing at or above expectations

The firm has produced a first shipment of lithium hydroxide solution, it revealed.
Nemaska Lithium's proprietary tech performing at or above expectations
Lithium is a key component in electric car batteries

Nemaska Lithium Inc (CVE:NMX, OTCQX:NMKEF) is making  good progress and its proprietary producing process is performing at or above expectations.

The latest achievement is that it has produced a first shipment of lithium hydroxide solution, which is ready to go to a client for evaluation.

Nemaska is now producing lithium hydroxide continuously using lithium sulphate provided by a client via the commissioning of the purification and membrane electrolysis systems of its Phase 1 plant.

Completed has been the pressure testing and electrical systems start-up, the membrane electrolysis start-up, the Hydromet start-up.

"The lithium hydroxide produced to date is exceeding purification expectations of Nemaska Lithium's technical team for this stage of plant commissioning. This is a critical achievement for Nemaska Lithium," it said in a regulatory announcement.

In Quebec, the firm is developing a spodumene lithium hard rock deposit

The concentrate produced at its Whabouchi mine will be shipped to its lithium compounds processing plant to be built in Shawinigan, Quebec

The burgeoning lithium battery market is largely driven by electric vehicles and cell phones, among other consumer goods.

Broker Eight Capital rates Nemaska shares a 'buy' with a C$2.30 a share price target.

"Fairly important news today, preparation of the first shipment of lithium hydroxide (LiOH) solution, suggests that two of the five main Shawinigan Demo

Plant circuits are working,"said analyst David Talbot.

"These are the purification and electrolysis circuits (circuits 2 and 3). While the other three steps can't be discounted, these are the most important two circuits to get right in our opinion."

This is a major de-risking event as NMX moves closer to project financing for construction of a full commercial LiOH and LCE plant.

Nemaska shares shed 1.54% to $1.28.

View full NMX profile View Profile

Nemaska Lithium Timeline

February 17 2016

Related Articles

electric cars charging
September 08 2017
Bacanora expects to complete a feasibility study at Sonora by the end of the year
July 19 2017
Medgold has earmarked drilling to start at the Tlamino project in Serbia in August
Mundoro on the hunt for large copper-gold projects in south-eastern Europe
June 20 2017
Borsko shows huge potential for copper-gold epithermal and porphyry system
Copyright ©, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use