Sayona Mining Ltd - SYAXF stock
Introduction[edit]
Sayona Mining Limited (OTC: SYAXF, ASX: SYA) is an emerging lithium producer with projects in Québec, Canada, and Western Australia. The company engages in mineral identification, acquisition, exploration, and development in the regions above. The firm explores gold, graphite, and lithium deposits. Sayona holds 100% interest in the Authier Lithium project located in Quebec, Canada; and 60% interest in the Moblan lithium project located in Northern Québec. In Western Australia, it holds an enormous portfolio in the Pilbara region prospective for gold and lithium. Sayona is exploring Hemi‐style gold deposits in the world‐class Pilbara region. The company was formed in 2000 and was initially known as DiamonEx Limited before changing its name to Sayona Mining Limited in May 2013. It is headquartered in Paddington, Queensland, Australia. Sayona Mining’s common shares are listed on the Australian Securities Exchange under the stock code SYA and on the U.S. OTC Markets as OTCQB: SYAXF.[1]
A Brief History[edit]
Sayona Mining acquired the Authier lithium deposit in 2016. The company then created a subsidiary in Québec to develop the project and capture potential opportunities in Abitibi-Témiscamingue. In 2020, the firm acquired the Tansim project, a high-potential deposit located 80 kilometers from the Authier project. It launched an investment plan to modernize equipment and resume operations after obtaining the North American Lithium (NAL) project, bringing the Abitibi-Témiscamingue lithium hub to its feet.[2]
Business and Operations[edit]
Sayona has committed to downstream processing in its areas of operations to satisfy the fast-growing North American battery and EV market. The company owns and operates significant assets in Canada and Australia. Its assets in Quebec comprise North American Lithium (NAL) together with the Authier Lithium and Tansim Lithium Projects, North American Lithium, and Pilbara Lithium/Gold. Sayona, together with its strategic partner, Piedmont Lithium Inc., acquired the North American Lithium project and plans to integrate it with the company’s nearby Authier Lithium Project and its emerging Tansim Lithium Project to create a world-scale Abitibi lithium hub. Production at the NAL asset is scheduled for the first quarter of 2023.[3]
Projects[edit]
Authier Lithium Project[edit]
The project is located 45 kilometers northwest of the city of Val d’Or in Quebec. It is a hard rock spodumene lithium deposit scheduled for development as an open-cut mine. Sayona acquired 100% interest in the mine back in 2016. The company highly ranks the asset and sights its paramount ability to create significant share value uplift for the firm’s shareholders. The project’s key attractions include access to world-class infrastructure and labor, economical hydroelectric power, and a strategic location near North American battery markets. The project area is composed of 19 mineral claims totaling 653 hectares and extends 3.4 kilometers in an east-west and 3.1 kilometers in a north-south direction. Its deposit is 825 meters long, striking east-west, with an average thickness of 25 meters, a minimum of 4 meters, and a maximum of 55 meters. The pit’s current mineral optimization extends 200 meters down in depth.
Tansim Project[edit]
The lithium project is situated 82 kilometers southwest of the Authier project. It comprises 180 mineral claims spanning 10,505 hectares and is prospective for lithium, tantalum, and beryllium. Its mineralization is harbored within spodumene‐bearing pegmatite intrusions striking east‐west, dipping to the north, and hosted by metasedimentary – metavolcanic rocks of the Pontiac sub‐province.[4]
Western Australian Projects [edit]
The Company in Western Australia covers 1,072 sq km and comprises lithium and gold tenure in the Pilbara and Yilgarn areas and graphite prospective tenements in the East Kimberley area. Its projects in the region include Deep Well Project, Tabba Tabba Project, Mallina Project (lithium), Mt Edon Lithium Project, Mt Dove Project, and Corkwood Graphite Project. The company’s NAL project comprises 19 contiguous claims spreading across over 582 hectares. [5]
Moblan[edit]
Sayona's Moblan project is located in the Eeyou-Istchee James Bay region of northern Quebec. Sayona has announced a significant increase in the lithium resource estimate for the project, making it one of the largest lithium projects in North America. The increase brings the total resource estimate to 70.9 million tonnes @ 1.15% Li2O (0.25% Li2O cut-off grade). The company's Managing Director, Brett Lynch, suggests that the increase in the resource is a significant milestone for the company and that it will position Sayona as a major player in the lithium market.[6]
Pilbara Exploration[edit]
This project is made up of s 12 leases totaling 1016 sq km within the world-class Pilgangoora lithium district. Ten of the tenements, covering 911 sq km have associated gold rights and are proximal to De Grey Mining’s 6.8Moz Hemi gold discovery.[7]
Recent Developments[edit]
The company together with its U.S.-based strategic partner Piedmont Lithium Inc, on July 28, 2022, approved the upgrade and restart of their Québec-based North American Lithium (NAL) spodumene plant for C$98 million ($76.19 million). Both firms completed their respective fund drives in the first half of 2022 to facilitate the proposed upgrade and restart of operations, with production expected in the first quarter of 2023.[8]
Management Team[edit]
Board & Management[edit]
Mr. Brett Lynch, Managing Director, and Chief Executive Officer
- A highly experienced international company director and chief executive
- A senior engineer and manager with a robust background in the mining and mining-related businesses across Australia, Asia, and North America and a proven track record in advancing shareholder value
- More than 30 years of experience in the global industry
- Has previously worked with leading resources companies such as MIM Holdings, New Hope Corporation, Orica, and VLI
- Holds a Bachelor of Engineering (Mining) (Honours) at the University of Melbourne, a Graduate Diploma of Business (Accounting) at Monash University, and a Company Director Diploma from the Australian Institute of Company Directors
Mr. Paul Crawford, Executive Director, and Chief Financial Officer
- Appointed to the Board on 10 March 2000.
- An accountant with over 40 years of commercial experience in various technical and management roles within the minerals, coal, and petroleum industriesAlso has significant corporate experience in the management and governance of ASX-listed resource and mining companies
Other executives are Mr. James Brown, Non-Executive Director, and Mr. Alan Buckler, Non-Executive Director.[9]
Company Environmental, social, and governance (ESG)
Sayona Mining recognizes the importance of ESG roles in strategic decision-making and risk management. It builds trust with the surrounding communities and pursues its environmental, social, and governance commitments.
Social Responsibility. The company is dedicated to positively contributing to the social and economic development of the communities within which it operates and maintaining fair and respectful relationships with its employees and external partners. The firm actively engages local communities, listens to their need, and share in its vision of a sustainable future.
Environmental Governance. The company aims to minimize the impact of its activities on the environment to maintain sustainability and diversity and do so continuously to encourage sustainable development.
Respect. The firm operates with respect for cultures, customs, social values, laws, and human rights.[10]
The company is developing its environmental management system (EMS) to measure and track its ESG performance. The underlying objectives aim to:
- Comply with or exceed and anticipate regulations.
- A better understanding of the environmental impacts of Sayona’s operations.
- Manage the environmental hazards caused by our operations.[11]
SYAXF Stock Information[edit]
As of 07/08/2022, there were shares of SYAXF stock outstanding.[12]
- ↑ cnbc.com/quotes/SYAXF – Sayona Mining Limited Profile – Yahoo Finance.
- ↑ A brief history – Corporate Social Responsibility Report Page 17.Accessed on 11/11/2022
- ↑ Company Overview – Sayona Mining Limited website.
- ↑ Authier Lithium Project and Tasim Project – Sayona Mining website.
- ↑ cnbc.com/quotes/SYAXF?tab=profile – CNBC News. Accessed on 11/11/2022.
- ↑ Bloomberg. Sayona's Moblan Boosted by Increase in Lithium Resource. April 16, 2023.
- ↑ Quarterly Report - Quarterly Report June 2021, Page 4 - Sayona Mining Ltd. Retrieved on 11/11/2022.
- ↑ Australia's Sayona, partner approves restart of Quebec lithium plant operation – Yahoo Finance.
- ↑ About Sayon Mining Ltd - Board & Management – Sayona website. Retrieved on 11/12/2022.
- ↑ Sustainability – Sayona Mining website.
- ↑ Our ESG factors, Environmental, social, and governance – Corporate Social Responsibility Report Page 27.
- ↑ SYAXF Stock security details -OTC Markets.
OTC Symbol: SYAXF | OTC Tier: OTCQB
