Last Thursday (Sept 30th), emerging lithium producer Australian-based Sayona Mining (ASX: SYA) announced its intention to acquire the Moblan Lithium Project to expand its North American lithium presence.
The Moblan Lithium Project is located in established mining jurisdiction of Eeyou‐Istchee James Bay which, you may recall, is the location of Quebec Precious Metal’s flagship Sakami project.
As part of the transaction, Lithium Royalty Company will acquire a 2% Net Smelter Return (NSR) Royalty on the Tansim project, currently owned by Quebec Precious Metals Inc., in consideration for a cash US$3mm payment (non-dilutive) to QPM.
The full press release can be found here. Closing of the transaction is expected on or prior to October 15, 2021. This is a very positive development for Quebec Precious Metals! It further validates its strategy of monetizing non-core assets to focus on its James Bay precious metals projects including its flagship, Sakami.
Quebec Precious Metals is now in a VERY strong position financially to continue its aggressive exploration program.
Please contact me to learn more about the exciting developments at Quebec Precious Metals.
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