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Highlights
- Sayona Mining Limited (ASX:SYA) reported successful trial feed of ore into the crushing plant at North American Lithium (NAL) operation.
- At market close on 31 January 2023, SYA share price was AU$0.26.
- NAL is heading in the right direction for first spodumene (lithium) production in the first quarter of 2023.
Sayona Mining Limited (ASX:SYA) traded at AU$0.26, on 31 January 2023. The lithium producer’s stock witnessed a trading volume of over 98 million, and the market capitalisation stood at AU$2.56 billion. In January 2023, SYA has grown by more than 43%.
The company hit a new milestone at its flagship North American Lithium (NAL) operation- successful trial feed of four hundred tonnes spodumene ore into crushing plant.
NAL operation milestone
Sayona’s crew at NAL has achieved a substantial breakthrough as the company advances the NAL restart nearer to first production. With the restart of NAL operation, successful trial feed of 400 tonnes spodumene ore into crushing plant have been achieved.
Earlier in January, the spodumene ore was handled as part of the concentrator commissioning. Every element of the crushing process was tested and investigated by the pre‐operational verification teams, as reported by the company.
Advances towards the concentrator restart had reached approximately 90% by December 2022 for engineering as well as construction.
Image source- Derrick Sherrill | Pixabay
Sayona’s focus areas
SYA claims to be dedicated towards the environment, health and safety as well as the local community. It also claims to be working in a manner that makes Abitibi‐Témiscamingue a focal point for the energy transition in transportation.
The company says it is focused on NAL as well as the Authier Lithium Project. The intent is to encourage conversation and increase community benefits (incl. for First Nations communities).
2023 will be an outstanding year for the company as well as Québec, opines Guy Belleau, CEO Sayona Québec. The company believes that it can play an integral role as a lead in North America’s lithium industry. It will be interesting to witness this emerging producer tap the exciting space of lithium as it works towards the first saleable lithium concentrate at the NAL plant. Sayona is heading in the right direction for first spodumene (lithium) production in the first quarter of 2023.