A definitive feasibility study (DFS) for the Moblan lithium project, the centrepiece of Sayona Mining’s Eeyou Istchee James Bay hub, will be released in the first quarter of 2024, interim CEO James Brown said on Thursday.
The company, which is listed on the ASX, previously targeted November 2023 for the completion of the DFS.
He said the current plan was to develop a downstream operating and supply model for Moblan that would allow Sayona to produce spodumene concentrate and link with strategic partners with demonstrated technology for future production of lithium hydroxide.
The miner, which also owns the North American Lithium mine, is working on a “bespoke” funding plan for Moblan, alongside potential strategic partnership discussions.
Meanwhile, Brown said that Sayona was confident that market prices for lithium would stabilise, supporting its operational plans. The price of lithium has fallen significantly, down about 80% in the last year.
Brown also noted that Sayona’s board transition was continuing. Having appointed Philip Lucas as independent nonexecutive director earlier this year, the next priority was the appointment of an independent chairperson in the first half of 2024.
Following this, the board would appoint another independent director and a new CEO.
“These appointments will provide greater skills and diversity to the board and facilitate more effective corporate governance,” said Brown.