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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Nemaska Lithium Inc    NMX   CA64045C1068

NEMASKA LITHIUM INC

(NMX)
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Nemaska Lithium : reviewing strategic alternatives after budget blowout

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03/02/2019 | 12:36pm EDT

Nemaska Lithiums (TSX: NMX) board of directors has appointed a special committee to review all strategic alternatives, after the company disclosed this month that it has been forced to revise the budget for the Whabouchi lithium mine and Shawinigan electrochemical plant up by C$375 million.

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 lithium production map.

The special committee is comprised of independent members of the corporations board of directors, the company said in a statement.

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 Ttrault LLP has been engaged as legal advisor to the special committee and the board.

Last year, the Canadian developer arranged $1.1 billion financing for the lithium project. SoftBank`s Vision Fund entered the mining sector for the first time in May 2018, buying up to 9.9% of Nemaska Lithium.

The C$375 million budget revision was revealed on February 13, and Nemaskas shares plummeted 35% that day.

As of market close Thursday, Nemaskas shares were down nearly 4%, trading at 0.38 on the TSE.

(c) 2019 The New Times Publications S.A.R.L All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CAD)
Sales 2019 -
EBIT 2019 -11,4 M
Net income 2019 -31,8 M
Debt 2019 309 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
EV / Sales 2019 0
EV / Sales 2020 7,26x
Capitalization 292 M
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Number of Analysts 9
Average target price 0,87  CAD
Spread / Average Target 153%
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Managers
NameTitle
Guy G. Bourassa President, Chief Executive Officer & Director
Michel Baril Chairman
Robert Beaulieu Vice President-Operations
Steve Nadeau Chief Financial Officer
Jean-Francois Magnan Technical Manager
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