Australian lithium producer Sayona Mining soars on Canada project study results

Elevra Lithium

19/02/2024 23:53

** Australian lithium producer Sayona Mining  SYA.AX  rises
as much as 12.5% to A$0.072, its highest level since Dec. 29
    ** SYA among top 3 gainers in the ASX 200 benchmark index
 .AXJO ; on track for a fifth straight session of gain 
    ** SYA Trading 3.2% higher at A$0.065 as of 2321 GMT
    ** Co says definitive feasibility study demonstrates value
of Moblan lithium project in Canada, in which it owns 40% stake
    ** Says project has an estimated post-tax net present value
of C$2.2 bln ($1.63 bln)
    ** Annual production rate 300 thousand tonnes per annum of
spodumene concentrate over mine's 21-year life
    ** More than 34 mln shares change hands, vs the 30-day
average of 75.1 mln shares
    ** SYA down 9.9% this year, as of last close

($1 = 1.3499 Canadian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))