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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.

Lithium prices have been depressed and weighing on the sector.

"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.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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