May 27 2013
Nemaska Lithium Inc. is pleased to announce that the Environmental Social Economic Impact Assessment reports for its Whabouchi project have been filed with the Canadian Environmental Assessment Agency and the Développement durable, Environnement, Faune et Parcs Québec.
The Company is expecting feedback from both organizations over the next months and will provide a timely response so as to expedite permitting. Nemaska is also pleased to announce that it has filed and received a permit for a 25,000 tonne bulk sample to be taken from the Whabouchi mine site.
Nemaska intends to use the bulk sample as part of its on-going job-related mining education program with the Cree nation of Nemaska. The program began last year with a heavy equipment operator training course. Removing the bulk sample will be part of the 3 month drilling and blasting training course that is scheduled to begin in June 2013. The bulk sample material will also be used to produce a spodumene concentrate which will be processed in the Phase 1 Chemical Plant.
While waiting for the necessary mining permits to proceed with mine construction, the Company has undertaken a further review of its mining flow sheet and identified areas for capital expenditure savings while improving operational expenditures. Results of this work are expected shortly and further details will be released as soon as received.
In addition, the Company wishes to provide an update on the Phase 1 Lithium Hydroxide/Lithium Carbonate Plant. The Phase 1 Plant, once built, will be a small scale version of the commercial facility and will provide reliable operating parameters and costs that will be included in the feasibility study to be completed after several months of operation. To date, the company has made significant progress on the detailed engineering of the Phase 1 Plant and identified all major equipment suppliers.
"Our strategy to build the Phase 1 Plant is a sound business decision for the Company and we continue to believe that engaging the market with commercial samples should enable us to attract customers and sign off-take agreements for lithium hydroxide and lithium carbonate," commented Guy Bourassa, President and CEO. "However given the reality of the present market conditions, it is not our preference to raise capital through equity as we have traditionally done in the past. We are currently in discussions with interested parties on other financial instruments to raise the necessary funds to proceed with the Phase 1 Plant. In the meantime, we are advancing the Whabouchi mine project, improving its economics and building relationships with interested end users of our products."
Source: http://www.nemaskaexploration.com