- Sayona Mining (SYA) grows its market value over the quarter, as it expands operations in Canada and makes progress in Western Australia
- A milestone for the quarter included the company’s move into the S&P/ASX 300 Index, after growing market value to about $2.5 billion
- SYA spent $1.6 million on exploration and project evaluation costs over the period, which was mostly directed towards its Quebec lithium projects
- Total available funding at the end of the quarter was $19.7 million
- Shares are trading 1.54 per cent higher today at 33 cents
Sayona Mining (SYA) has grown its market value over the quarter, as it expands operations in Canada and makes progress in Western Australia.
A milestone for the quarter included the company’s move into the S&P/ASX 300 Index, after growing market value to about $2.5 billion.
SYA spent $1.6 million on exploration and project evaluation costs over the period, which was mostly directed towards its Quebec lithium projects.
It doubled its JORC resource base for both its North American lithium (NAL) and Authier projects and acquired 121 new claims at the Lac Albert project in Northern Quebec.
In Western Australia, Sayona completed preparation for a 60-hole air-core drilling program at its Deep Well project.
The company invested $5.18 million in the quarter, which was directed towards its property, plant, and equipment.
Looking ahead, the company aims to form a northern Quebec hub, targeting production of more than 25,000 tonnes of lithium carbonate equivalent by 2027.
It is currently undertaking a feasibility study at its NAL project, aiming for the profitable production of spodumene concentrate.
Meanwhile, it aims to progress drilling activities at its Western Australian projects.
Total available funding at the end of the quarter was $19.7 million.
Shares were trading 1.54 per cent higher today at 33 cents each at 12:30 pm AEST.