Management Commentary
“Sayona reached a significant milestone in the first half of the 2024 financial year as we generated first revenues following
the commencement of shipments of spodumene concentrate from NAL in August 2023. In total, NAL shipped five cargoes of
product this half, totalling 72.2 kt of spodumene concentrate.
“We continued to invest in optimisation initiatives at NAL such as the Crushed Ore Dome and the Tailings Storage Facility, to
drive increased plant reliability together with securing future tailings placement capacity. Supplementary low capital intensity
initiatives were also advanced to build additional redundancy into the process circuit, such as the refeed system. These
initiatives are expected to deliver more consistent mill throughput rates, higher recoveries and increased concentrate
production over the coming months.
“Our Québec lithium portfolio was bolstered through the completion of approximately 120,000 metres of drilling, with high
grade lithium mineralisation identified outside the resource pit shells at Moblan and NAL. This ongoing exploration provides
the opportunity to expand the existing resource at both projects, enhancing Sayona’s access to exceptional hard-rock lithium
resources in North America.
“Sayona is focused on continuing to ramp up production and optimise unit production costs at NAL. We are also taking
important steps to streamline operations, conserve cash, deliver production efficiencies and preserve the value in our assets.
We are confident that these initiatives will enable NAL to continue to produce lithium through the cycle and set the foundation
for growth, delivering increased value for shareholders.”
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