I think the story of First Cobalt and the Story of Sayona have some parallels that may help everyone.
First cobalt is restarting a cobalt refinery that was first commissioned in 1996. Sayona is doing the same for the NAL lithium refinery but it was commissioned in 2018.
My estimates for restarting the NAL operations have been a bit of guess work because until now we have not had anyone who has refurbished / restarted a refinery.
My assumption is that there would be less work to do at NAL because it has only been shut down 3 years vs the 20+ years at first cobalt.
Here is the what first cobalt has set aside to finance their project.
With this in mind I believe we could restart our carbonate plant for this amount or less? And remember we would only be in for 75% of that cost or around $33.7 Million.
I think with this in mind we may see the inclusion of the restart of the carbonate plant at NAL coinciding with the spodumene production start date of 2023, or maybe 3 - 6 months after.
links
https://seekingalpha.com/news/3733249-first-cobalt-secures-financing-for-construction-of-ontario-based-battery-materials-plant
https://seekingalpha.com/news/3766696-first-cobalt-plans-specialist-ev-battery-materials-facility-in-north-america?utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+News+Smart
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