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Nemaska buys portable mill for Whabouchi lithium mine

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Nemaska buys portable mill for Whabouchi lithium mine

NemaskaLithium Inc. said April 29 that it has purchased a new modular millfor lithium concentrate production at the Whabouchi mine in Quebec.

The self-contained portable mill has a processing capacityof 10 tonnes per hour and will be used to process a bulk sample of about 29,000tonnes from Whabouchi during the summer and fall this year.

The plant will be used to produce a 6% lithium oxide spodumeneconcentrate that will feed the phase one lithium hydroxide plant, which thecompany plans to build in Shawinigan, Quebec.

Over the next months, the company plans to obtainauthorizations to fully comply with provincial regulations before completing bulksampling and associated ore processing.

"We had originally contemplated processing the oreelsewhere, but with the purchase of a new and readily available mill, we arebuilding in-house expertise in ore processing as well as making relevanttraining available to our local workforce," said President and CEO GuyBourassa. "The mill will retain its value and we can determine how best touse it once the bulk sample is completed."

The mill was bought for C$750,000 in cash and 3 million ofthe company's shares.

An updated feasibility study — reflecting the change oflocation of the hydromet plant to Shawinigan from Salaberry-de-Valleyfield andthe optimization of processes — for Whabouchi a posttax net present value,using a discount rate of 8%, of C$1.16 billion and an internal rate of returnof 30.3% from 21%.