Sayona Mining Limited (ASX: SYA) is an Australian company. Incorporated in 2000, it sources and develops the raw materials required to construct lithium?ion batteries. This is used in the rapidly growing new and green technology sectors. The company is headquartered in Paddington and has lithium projects in Québec, Canada and in Western Australia.
On May 13 2019, the company announced that it had appointed Guy Laliberté as Chief Executive Officer, Sayona Québec Inc. Mr Laliberté is a globally experienced mining project director and construction manager. He hails from Québec and holds an experience of over 35 years in major mining and metallurgical project management worldwide. Holding a bachelor’s degree in engineering and construction management and in civil construction technology, he is a member of various professional associations.
He has handled projects in Africa, Canada, Europe and the Middle East, serving multiple roles in his previous employment. Few of his roles include project director, construction manager, lead scheduler and project control manager. Along with managing an engineering consultancy, he has worked in the United Kingdom, Liberia and Qatar too, on various projects. His experience comes with leadership and managerial skills. Amongst other directorships, Mr Laliberté has served as president of the Engineer Corporation, Local chamber of commerce and Shawinigan College.
Prior to joining SYA, Mr Laliberté was with Canada’s Mary River iron ore mine located in the north pole, serving as senior construction manager.
The company’s Authier Project, would be the fourth open pit mining project led by him, either as a project director or a construction manager.
On having him on board, Managing Director, Dan O’Neill stated that his proven experiences would be a great asset to the company, especially when Authier project and other emerging projects are in the picture.
Apart from the appointment of Mr. Guy Laliberté, the company had recently recruited Mr Serge Rouillier as manager, sustainable development.
On the activities side, besides the Authier Lithium Project, Quebec, the other current projects of the company include Tansim Lithium Project, where drilling has resulted in prospects for new lithium deposit. The Western Australia projects include Mallina Project, Tabba Tabba Project, The Moolyella project, East Kimberley Graphite Exploration and Mt Edon Project.
On the corporate side, the final option payment to Great Sandy Pty Ltd was settled. It was for the procurement of eighty percent interest across 6 tenements covering 871 km2 in the Pilgangoora lithium district. The company agreed to acquire the remaining 20% of the tenure to provide Sayona 100% unencumbered interest in the tenement package.
Below is a table depicting the cash flow statement highlights as disclosed for the period ending March 31 2019:
|Net cash used in Operating activities||1,941|
|Net cash used in Investing activities||63|
|Cash and cash equivalents at end of period||2,492|
|Estimated cash outflows for next quarter||1,100|
Share Price Information:
On May 14th, 2019, the stock traded flat at A$0.014. It has a market cap of A$24.12m. It has provided at YTD yield of -22.22% and a 6-month yield of -44.00%.
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