Canada Lithium will sell mainly to Asia through its connection with Mitsui of Japan and also to Phostech Lithium's Inc.' s lithium iron phosphate plant being built at Candiac.
Canada Lithium Corp. is pushing its battery-grade lithium carbonate project 100 kilometres north of Val d'Or towards a late 2012 production startup, expecting the full feasibility study before year-end, says CEO Peter Secker.
"Everyone's looking for lithium but we've got a head start to supply makers of next-generation e-car battery with their primary material," Secker said. "The BlackRock name may have helped to push our share-price up, but that support will cover progress payments for the crushing, screening, ball mill and kiln equipment -the project's essentials."
The open-pit mine and processing plant will cost between $150 million and $180 million, including working capital, and it will produce more than 19 million kilograms of 99.9-per-cent-pure carbonate over 15 years for sale to lithium-ion battery makers as electric car markets mushroom throughout Asia, North America and Europe.
A $10-million equity financing at 80 cents a share was arranged this week via a private placement with investment funds managed by Black Rock Inc., the world's biggest asset manager with $3.45 trillion U.S. under administration.
With Black Rock's support and receipt of the feasibility study by Montreal's BBA Inc., Canada Lithium will have $16 million in hand and be ready to negotiate debt and equity financing, start detailed engineering early next year and bring in the construction crews at mid-year.
The firm reported last week that the mill had been down since the start of November, after the variable frequency drive (VFD) failed during an attempt to restart the mill following a temporary blackout at the generating station.
The VFD manages the delivery of power from the generating plant to the motor for the SAG mill.
The company is still running diagnostics to determine whether all or part of the drive can be repaired or must be replaced, but has found a way to use the ball mill starter and drive system with the SAG mill motor.
The SAG mill and the gold plant can run independently without the ball mill and did so at about 60% of its capacity during the summer before the ball mill came on line, the firm said.
I am gold still needs to figure out what the maximum throughput will be using the temporary power configuration.
"We view this specific electrical issue with the variable frequency drive as a rare occurrence and, once we complete the repair, it should in no way affect the ramp-up process or the reliability of the plant," CEO Steve Letwin said.
"We remain very optimistic about our future production targets at Essakane, especially since we launched the feasibility study for expansion.
BinQ is a professional mining equipment manufacturer and exporter. We have a team of high quality research experts who have always been providing best jaw crusher plant
solutions for our customers. For more than 20 years, apart from grinding mill, we have provided with grinding mill,stone crusher and jaw crusher etc.
Site: http://www.miningconstruction.org
Canada Lithium Corp. is pushing its battery-grade lithium carbonate project 100 kilometres north of Val d'Or towards a late 2012 production startup, expecting the full feasibility study before year-end, says CEO Peter Secker.
"Everyone's looking for lithium but we've got a head start to supply makers of next-generation e-car battery with their primary material," Secker said. "The BlackRock name may have helped to push our share-price up, but that support will cover progress payments for the crushing, screening, ball mill and kiln equipment -the project's essentials."
The open-pit mine and processing plant will cost between $150 million and $180 million, including working capital, and it will produce more than 19 million kilograms of 99.9-per-cent-pure carbonate over 15 years for sale to lithium-ion battery makers as electric car markets mushroom throughout Asia, North America and Europe.
A $10-million equity financing at 80 cents a share was arranged this week via a private placement with investment funds managed by Black Rock Inc., the world's biggest asset manager with $3.45 trillion U.S. under administration.
With Black Rock's support and receipt of the feasibility study by Montreal's BBA Inc., Canada Lithium will have $16 million in hand and be ready to negotiate debt and equity financing, start detailed engineering early next year and bring in the construction crews at mid-year.
The firm reported last week that the mill had been down since the start of November, after the variable frequency drive (VFD) failed during an attempt to restart the mill following a temporary blackout at the generating station.
The VFD manages the delivery of power from the generating plant to the motor for the SAG mill.
The company is still running diagnostics to determine whether all or part of the drive can be repaired or must be replaced, but has found a way to use the ball mill starter and drive system with the SAG mill motor.
The SAG mill and the gold plant can run independently without the ball mill and did so at about 60% of its capacity during the summer before the ball mill came on line, the firm said.
I am gold still needs to figure out what the maximum throughput will be using the temporary power configuration.
"We view this specific electrical issue with the variable frequency drive as a rare occurrence and, once we complete the repair, it should in no way affect the ramp-up process or the reliability of the plant," CEO Steve Letwin said.
"We remain very optimistic about our future production targets at Essakane, especially since we launched the feasibility study for expansion.
BinQ is a professional mining equipment manufacturer and exporter. We have a team of high quality research experts who have always been providing best jaw crusher plant
solutions for our customers. For more than 20 years, apart from grinding mill, we have provided with grinding mill,stone crusher and jaw crusher etc.
Site: http://www.miningconstruction.org
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