{"id":1127811,"date":"2019-07-19T14:12:21","date_gmt":"2019-07-19T19:12:21","guid":{"rendered":"https:\/\/www.mining.com\/?p=997127"},"modified":"2019-07-19T14:12:21","modified_gmt":"2019-07-19T19:12:21","slug":"canadian-lithium-junior-surges-45-after-460m-injection","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1127811","title":{"rendered":"Canadian lithium junior surges 45% after $460m injection"},"content":{"rendered":"<p>Shares in Nemaska Lithium Inc&nbsp;soared on Friday after the company announced it has received a letter of intent for a $460m (C$600m) investment from specialist mining investment firm, Pallinghurst.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Pallinghurst is contemplating C$200m private placement at C$0.25 per share and a stand-by purchase agreement to fully guarantee the successful completion of a rights offering of up to C$400m at the same issue price, according to a press release.<\/p>\n<p>The funding will enable Nemaska to complete the construction of its Whabouchi hard rock lithium mine in the James Bay region and Shawinigan processing plant north of Montreal.<\/p>\n<p>After a trading halt was lifted, shares in Nemaska gained as much as 45% to $0.32 a share in Toronto, lifting the market value of the developer to $260m. The stock had been under pressure since February when Nemaska said it was <a href=\"https:\/\/www.mining.com\/nemaska-lithium-reviewing-strategic-alternatives-budget-blowout\/\"  rel=\"noreferrer noopener\" aria-label=\"facing a budget overrun of C$375m (opens in a new tab)\">facing a budget overrun of C$375m<\/a> on the project.  <\/p>\n<p>Last year, Nemaska\u00a0<a href=\"https:\/\/mining.com\/worlds-largest-ever-tech-fund-enters-lithium-race\/\">arranged $1.1 billion financing<\/a>\u00a0for the lithium project. SoftBank\u2019s Vision Fund, the largest tech investment fund ever assembled, entered the mining sector for the first time in May 2018, buying up to 9.9% of the Quebec-based company.<\/p>\n<figure class=\"wp-block-pullquote\">\n<blockquote>\n<p><a href=\"https:\/\/store.miningintelligence.com\/posters\/global-battery-minerals-map\/\"  rel=\"noreferrer noopener\" aria-label=\"DOWNLOAD FREE BATTERY METALS MAP (opens in a new tab)\">DOWNLOAD FREE BATTERY METALS MAP<\/a><\/p>\n<p><cite>Map of major producing mines and mine development projects of minerals used in Lithium Ion Batteries. Commodities include Lithium, Graphite and Cobalt. Map includes locations of 240+ producing mines, 45 development projects, 110+ projects in economic assessment, and 40 suspended mines.<\/cite><\/p><\/blockquote>\n<\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Nemaska Lithium&#8217;s hard rock mine in Quebec is back on track.<\/p>\n","protected":false},"author":4,"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":[1016,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1127811"}],"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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1127811"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1127811\/revisions"}],"predecessor-version":[{"id":1127815,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1127811\/revisions\/1127815"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1127811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1127811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1127811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}