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Critical Elements Lithium Corp V.CRE

Alternate Symbol(s):  CRECF

Critical Elements Lithium Corporation is a Canada-based lithium exploration company. The Company is engaged in the acquisition, exploration, development and processing of critical minerals mining properties in Canada. Its projects include Rose Lithium-Tantalum, Rose North, Rose South, Arques, Bourier, Dumulon, Duval, Nisk, Lemare, Caumont, and Valiquette. The Rose Lithium-Tantalum property consists of over 473 claims covering a total area of over 24.99 square kilometers (km2). It lies in the northeastern part of Superior Province, within the Eastmain greenstone belt. The Rose North property consists of about 31 claims covering a total area of over 16.14 km2. The Arques Property is composed of one block totaling around 136 claims covering an area of 6,840.93 hectares (ha) over 18 kilometers (kms) in length in a Southwest-Northeast direction. Bourier Property is comprised of over 304 claims with an area of 15,616.47 ha for over 30 kms. Rose South property consists of over 280 claims.


TSXV:CRE - Post by User

Post by elvispressyon Jul 03, 2018 6:59pm
102 Views
Post# 28264677

Had to post this. Have a good summer!

Had to post this. Have a good summer!
LG CHEM AND NEMASKA LITHIUM ANNOUNCE SIGNATURE OF AN INITIAL 5-YEAR SUPPLY AGREEMENT FOR LITHIUM HYDROXIDE
 
 
Qubec, Qubec, Canada, July 3, 2018. Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX: NMX) (OTC: NMKEF) and LG Chem, Ltd. (“LG”) are pleased to announce the signature of an agreement providing for the supply of battery grade lithium hydroxide by the Corporation to LG.
 
“We are pleased with this first step towards establishing a long-term commercial relationship between LG and Nemaska Lithium. The signing of this agreement is a clear vote of confidence by LG in our business plan and our capacity to be a long-term supplier of lithium hydroxide”, said Guy Bourassa, President & Chief Executive Officer of Nemaska Lithium.
 
Under this agreement, Nemaska Lithium agrees to supply LG, on a take-or-pay basis and through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., with 7,000 tonnes per year of lithium hydroxide produced at the Corporation’s commercial plant in Shawinigan, for an initial 5-year period scheduled to start in October 2020. Nemaska Lithium is entitled, if ever necessary, to reschedule the commencement of the supply period, within certain parameters set out in the agreement and based on the anticipated commissioning, ramping up and production start date for the Shawinigan plant.
 
With this additional off-take agreement and taking into account the right of first offer granted to SoftBank Group to purchase up to 20% of production, Nemaska Lithium has now committed or has agreement in principle in place for over 90% of its anticipated 33,000 tonnes/y LCE capacity.
 
 
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