{"id":1102786,"date":"2019-02-28T23:12:22","date_gmt":"2019-02-28T23:12:22","guid":{"rendered":"http:\/\/www.mining.com\/?p=974381"},"modified":"2019-02-28T23:12:22","modified_gmt":"2019-02-28T23:12:22","slug":"nemaska-lithium-reviewing-strategic-alternatives-after-budget-blowout","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1102786","title":{"rendered":"Nemaska Lithium \u2018reviewing strategic alternatives\u2019 after budget blowout"},"content":{"rendered":"<p>Nemaska Lithium\u2019s (TSX: NMX) board of directors has appointed a special committee to review all strategic alternatives for the company, <a href=\"http:\/\/www.mining.com\/nemaska-lithium-adjusts-whabouchi-shawinigan-budgets-375m\/\"  rel=\"noopener\">after disclosing<\/a> it has been forced to revise the budget for the Whabouchi lithium mine and Shawinigan electrochemical plant up by C$375 million.<\/p>\n<p>Nemaska, which has received funding from the Quebec provincial and Canadian federal governments, is building the Whabouchi hard rock lithium mine in the James Bay region and Shawinigan processing plant north of Montreal, aiming to put Canada on the global\u00a0<a href=\"http:\/\/www.mining.com\/lithium-price-bulls-right\/\">lithium production map.<\/a><\/p>\n<p>The special committee is comprised of independent members of the corporation\u2019s board of directors, the company said in a statement.<\/p>\n<p>Clarksons Platou Securities AS has also been engaged as financial advisor to the corporation and the board. National Bank Financial and PricewaterhouseCoopers have been engaged as financial advisors to the committee and the board and McCarthy T\u00e9trault LLP has been engaged as legal advisor to the special committee and the board.<\/p>\n<p>Last year, the Canadian developer\u00a0<a href=\"http:\/\/www.mining.com\/worlds-largest-ever-tech-fund-enters-lithium-race\/\">arranged $1.1 billion financing<\/a>\u00a0for the lithium project. SoftBank&#8217;s Vision Fund entered the mining sphere for the first time in May 2018, buying up to 9.9% of Nemaska Lithium.<\/p>\n<p>The C$375 million budget revision was revealed on February 13, and Nemaska\u2019s shares plummeted 35% by market close that day.<\/p>\n<p>As of market close Thursday, Nemaska\u2019s shares were down nearly 4%, trading at 0.38 on the TSE.<\/p>\n<p>&nbsp;<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/nemaska-lithium-reviewing-strategic-alternatives-budget-blowout\/\">Nemaska Lithium \u2018reviewing strategic alternatives\u2019 after budget blowout<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last year, the Canadian developer&nbsp;arranged $1.1 billion financing&nbsp;for its  Whabouchi lithium project.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/nemaska-lithium-reviewing-strategic-alternatives-budget-blowout\/\">Nemaska Lithium &lsquo;reviewing strategic alternatives&rsquo; after budget blowout<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[404,369,1507],"tags":[25,288,92],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1102786"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1102786"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1102786\/revisions"}],"predecessor-version":[{"id":1102790,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1102786\/revisions\/1102790"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1102786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1102786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1102786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}