May 11, 2011
eResearch initaited coverage of Nemaska Exploration (TSX-V: NMX and OTC: NMKEF) with a Speculative Buy rating, and a Target Price of $0.95.
Nemaska is in the process of spinning off its non-lithium assets into a separate company while, at the same time, it is building on its relationship with its strategic partner, China’s Tianqi Group, which could jump-start Nemaska’s lithium business in China. Meanwhile, Nemaska is focused on bringing its Whabouchi lithium property, which is one of the world’s largest lithium deposits, into production by 2013. Tianqi could provide needed financing for this endeavour. To review the full report, just click on the graphic below:
May 5, 2011
Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX) has blasted a 50 tonnes bulk sample on its Whabouchi lithium project for metallurgical pilot plant testing. The 50 tonnes sample comes from the main zone and is located in the R-575 trench where channel samples returned 1.65% Li2O over 37.5 metres. In addition to the material coming from the R-575 trench, the bulk sample will also include approximately 8 tonnes of drill core material that has been collected across the deposit as part of the recently completed 8,909 metre infill diamond drill program. The diamond drill program used large-diameter HQ size core to obtain more representative material for the pilot plant process.
According to Guy Bourassa, President and CEO of Nemaska, “This is a major step towards completing a full feasibility study and discussing offtake agreements with potential clients. we remain on track to have the definitive feasibility study completed by Fall 2011.”
April 27, 2011
For our readers who, like me, grew up with Bono and his band U2, you may recall one of their hit songs, Still Haven’t Found What I’m Looking For. And if you’re an exploration mining company, that would be the worst/last choice for a theme song. Fortunately for Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX), which continues to find excellent width and high-grade intersections at its Whabouchi lithium project, that song is entirely not applicable.
To this end, the Company has drilled 8,909 metres across 43 holes which continue to illustrate the high-grade nature of the main mineralized zone and confirm the presence of smaller dykes to the South of the Main zone. Highlights include: 53.5 m at 1.81% Li2O, 39.6 m at 1.56% Li2O, 13.5 m at 1.81% Li2O and 17.0 m at 1.71% Li2O. The results of the initial 22 holes have been released on March 24, April 11 and 20, 2011.
April 20, 2011
Nemaska Exploration (OTCQX: NMKEF; TSX-V: NMX) has completed 8,909 metres of drilling across 43 holes at its 100% owned Whabouchi lithium project. The Company’s most recent results come from 5 drill holes illustrate the high-grade of the main mineralized zone and confirm the presence of smaller dykes to the South of the Main zone. Highlights include 25.5 m at 2.28% Li2O, 23.0 m at 1.92% Li2O and 11.9 m at 2.36% Li2O.
Nemaska’s newly formed subsidiary, Monarques Resources, has filed a preliminary prospectus for an offering of a minimum of $2,000,000 comprised of 2,500,000 units at a price of $0.40 per Unit and 2,000,000 common shares in the capital of Monarques, to be issued as “Flow-Through Shares”, at a price of $0.50 per Flow-Through Share.
April 20, 2011
According to Jonathan Lee, Battery Materials and Technology analyst for Byron Capital Markets, demand for lithium is rebounding from a dip in 2009. Below please find additional information from this Energy Report interview.
KENWOOD, CA (The Energy Report) –
The Energy Report: Jonathan, please tell us about lithium and its core uses.
Jonathan Lee: Lithium metal is used mainly in the glass and ceramics industry and in lithium-ion batteries, which, collectively, comprise about one-half of all lithium used. The other remaining uses are anything from greases, casting and aluminum production to pharmaceuticals. It’s a very versatile metal.
TER: What is the investment thesis for lithium?
JL: Lithium is an important component of the batteries that power electric vehicles (EVs). We believe in the electrification of vehicles over time. We focus on the metals that play a role in the electrification of our transportation mechanisms and associated infrastructure. Obviously, lithium came up as one of the key metals that will be used in this revolution.
April 11, 2011
Nemaska Exploration (OTCQX: NMKEF; TSX-V: NMX) has completed 8,633 metres of drilling across 41 holes at its 100% owned Whabouchi lithium project. The Company’s most recent results come from 5 drill holes continue to illustrate the width and high-grade of the main mineralized zone. Highlights include 45.9 metres at 2.13% Li2O, 85.0 metres at 1.69% Li2O, and 63.8 metres at 1.44% Li2O.
March 31, 2011
Nemaska Exploration (OTCQX: NMKEF; TSX-V: NMX) has entered into a conditional agreement to transfer its non-lithium related assets to Monarques Resources in an all share transaction valued at $7.5 million. Nemaska, of course, will retain its core assets, the Whabouchi and Sirmac properties, and be the largest shareholder of Monarques, post financing.
March 24, 2011
Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX) has drilled 36 holes across 7,600 metres, from which the Company has results for 12 holes. Results from the 12 holes confirm the impressive width of the main mineralized zone as well as its grade and confirm the presence of parallel zones to the South. Highlights include: 76.7 m at 1.73% Li2O, 77.3 m at 1.67% Li2O, 72.7 m at 1.61% Li2O, 42.5 m at 1.80% Li2O and 28.2 m at 2.18% Li2O.
According to Guy Bourassa, the Company’s President and CEO, “The high-grade and exceptional width of these results are as expected and are part of an infill drill program that was recommended by independent consultants in a preliminary economic assessment of our project earlier this year. The results support our current NI 43-101 resource estimate prepared by Mr. Andre Laferriere, M.Sc., P. Geo. of SGS Geostat in May 2010, and should result in an increase in the measured, indicated and inferred categories.”
March 17, 2011
Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX) has formed a wholly owned subsidiary, Monarques Resources, into which it intends to transfer all of its non-lithium related assets in exchange for shares. Monarques intends to raise its own capital to fund exploration initiatives, which will make Nemaska a pure lithium company via its advanced stage Whabouchi and highly-prospective Sirmac properties.
According to Guy Bourassa, President and CEO of Nemaska Exploration, “Nemaska is in a unique position of controlling 100 percent of about 85 km of a polymetallic greenstone belt in the Lower James Bay Region, Province of Quebec. The Whabouchi lithium project has been our main focus since the company’s initial public offering and we have advanced it at a rapid pace. We believe the best way for Nemaska shareholders to realise the exploration potential of the mineral assets of the remaining properties is to create a new company that is focused on exploring them. Funds raised by Monarques will be spent on exploring a number of high priority targets including the Nisk 1 nickel deposit.”
March 4, 2011
Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX) has completed a $3.7 million financing with Chengdu Tianqi Industry Group, the parent company of Sichuan Tianqi Lithium Industries, the latter of which is the largest lithium battery material provider in China that uses spodumene concentrate. This financing is a testament to and validation of Nemaska’s business plan in that Tianqi has a significant share of the Chinese lithium market and has forged long-term relationships with the majority of Chinese battery manufacturers but clearly seeks additional material.
The growth potential of the Company has increased dramatically with Tianqi’s 10% stake in Nemaska. We look forward to additional good news going forward.