Over a week ago | ||||
Canaccord analyst Reg… Canaccord analyst Reg Spencer upgraded Sayona Mining (SYAXF) to Speculative Buy from Sell with a price target of A$0.30, up from A$0.20, after the company recently announced first production from the North American Lithium joint venture with Piedmont Lithium (PLL). | ||||
Macquarie analyst Hayden… Macquarie analyst Hayden Bairstow initiated coverage of Sayona Mining with an Outperform rating and A$0.30 price target. | ||||
Electric Royalties… Electric Royalties announced that Sayona Mining has voluntarily submitted its Authier Lithium Project for an environmental impact assessment and review under the Quebec Government's 'BAPE' process. According to Sayona's news release dated February 27, 2023, its request has been accepted by Quebec's Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks. The BAPE's mission is assist government decision-making by communicating to the environment minister findings and opinions that reflect any local concerns that are based on the principles of the Sustainable Development Act. Sayona also reported that its nearby North American Lithium operation in Quebec, Canada, is on track to recommence spodumene production in March 2023. The start-up of process operation was reportedly successful, and comprises the circulation of mineralized material through the entire system, from crushing through sorting, grinding and separation. Authier is envisioned by Sayona to become a source of spodumene feed for the NAL concentrator. As a result, the Authier Project no longer requires its own concentrator or tailings storage, and the planned daily output below the 2,000-tonne threshold has resulted in a considerably reduced environmental impact compared to the original regulatory submission. Electric Royalties holds a 0.5% gross metal royalty on the Authier Lithium Project. |
Over a month ago | ||||
Canaccord analyst Reg… Canaccord analyst Reg Spencer downgraded Sayona Mining to Sell from Hold with a price target of A$0.20, down from A$0.21. The analyst says the Piedmont offtake "remains a major drawback." |
Over a quarter ago | ||||
JOURDAN RESOURCES… JOURDAN RESOURCES announced that North American Lithium, a subsidiary of Sayona Mining, which recently entered into an earn-in and joint venture agreement with Jourdan, has deposited C$4 million into an escrow account pursuant to an escrow agreement entered into among Jourdan, Sayona and TMX Trust Company. Pursuant to the Escrow Agreement, NAL is required to spend the full Escrow Amount on exploration activities on 28 claims within the Company's Vallee lithium project prior to November 14, 2023, to earn a 25% interest in the Earn-in Claims. Accordingly, NAL's obligation to spend the Escrow Amount represents a firm commitment under the Earn-in Agreement. To the extent NAL does not spend the full Escrow Amount on exploration activities prior to the deadline, any amounts remaining in the escrow account shall be released to Jourdan in accordance with the Escrow Agreement. NAL also has the option to spend an additional C$6 million by November 14, 2024, to earn a further 25% interest in the Earn-in Claims. The Company is currently working with NAL to develop a work program to be funded by the Escrow Amount. The parties intend for the work program to include a drilling program that would commence in Q1 of 2023. | ||||
Canaccord analyst Reg… Canaccord analyst Reg Spencer initiated coverage of Sayona Mining with a Hold rating and A$0.21 price target. Sayona is a near-term lithium concentrate producer, with its key assets being the advanced Abitibi Hub and Moblan hard rock lithium projects in Quebec, Canada, Spencer tells investors in a research note. |