Nemaska Lithium updates negotiations with Pallinghurst Group
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(Kitco News) - Nemaska Lithium said Monday it is making progress with the Pallinghurst Group to further the proposed financing and extend the exclusivity negotiation period until December 31, 2019.
In July, Nemaska Lithium accepted an investment proposal of up to C$600 million from Pallinghurst.
The Quebec miner said mine engineering and construction are underway. Project investment totals were C$377 million as of August.
"Our focus for the past weeks has been to work assiduously with Pallinghurst on its investment proposal," said Guy Bourassa, president and CEO of Nemaska Lithium. "We are working closely with our advisors to help Pallinghurst complete its entire review in a timely manner to reach an agreement that will satisfy all parties, including our shareholders.”