Why Sayona Mining Share Price Jumped Higher Today

What happened to the Sayona Mining share price?

At the time of writing, shares of Sayona Mining Ltd [ASX:SYA] are up by 29.17%, to 3.1 cents, in today’s trading. Sayona Mining is focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors.

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Why did Sayona Mining share price do this?

The company announced that it completed all of the major environmental studies for the Authier lithium project in Quebec, Canada. The Authier project is expected to produce 1,900 tons of ore per day, which is significantly smaller than other operations in the district.

What now for Sayona Mining?

Since the Company’s acquired the Authier project in late 2016, its completed the following environmental studies:

  • Vegetation inventory, including wetlands and species with special status;
  • Inventory of fish and fish habitats;
  • Inventories of wildlife species with special status;
  • Assessment of surface and ground water quality; and
  • Hydrogeological and hydrological baseline conditions.

The studies were undertaken by reputable independent consultants, including SNC Lavalin, Lamont Inc, Hydrogeology Richelieu and Groupe DDM. The studies haven’t identified any potential environmental issues at the project, or any major impact on the local communities.

The Company’s strategy is to develop Authier and sell lithium concentrates, whilst it completes the test work, permitting and feasibility study for producing lithium carbonate and/or hydroxide. The strategy is analogous to other lithium developers in Quebec including Nemaska Lithium and North American Lithium.

The business plan sounds positive for shareholders. The focus is now on securing a small-scale mining license. If the company can achieve its goals over the coming months, shareholders could be significantly rewarded.

Regards,

Jason Stevenson,
Resources Analyst, Markets & Money

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Jason Stevenson is Markets & Money’s resource analyst. He shares over a decade’s worth of investing and trading experience across resource stocks and commodity futures and options. He originally studied accounting and finance at Curtin University, where he was awarded a first-class honours degree. His professional background stems across high-net-worth, top tier accounting (corporate finance, tax and auditing), and sell-side equities research. Before joining the team at Markets and Money, Jason worked at boutique firms which advised fund managers and high-net-worth clients on where to invest. Whether it’s gold, crude oil, copper or an obscure metal like vanadium, you can rely on an in-depth analysis in Markets and Money. Jason also brings you extensive macro, political and geopolitical analysis from around the world. He leaves no stone unturned when it comes to telling the truth. Jason is also the lead analyst of Gold Stock Trader, a premium service for investors serious about precious metal stocks. Websites and financial e-letters Jason writes for:


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