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Sayona battery breakthrough adds to soaring share price

Business

The meteoric share price rise of Brisbane lithium company Sayona was given another boost today after the company announced a significant breakthrough.

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Sayona, whose shares have jumped 900 per cent in the past year – from 1 cent to 10 cents – said testing of its lithium spodumene from its Authier project in Canada was capable of being processed in high purity lithium hydroxide.

It was now being used by fellow Queensland company Novonix at its battery solutions business in Nova Scotia and tested to evaluate how it conformed with lithium-ion battery standards and it performance in commercial cells.

The initial results of that testing were expected soon.

The breakthrough adds another win for the Brisbane battery sector which includes PPK’s joint venture with Deakin for a lithium-sulphur battery, Novonix, Anteotech and fast charging company Tritium’s move to the US Nasdaq after a $1.8 billion merger with a special purpose acquisition company.

Sayona managing director Brett Lynch said the fact that Authier spodumene could be refined into high purity lithium hydroxide was an essential requirement to meet the needs of battery manufacturers.

Sayona has also bought North American Lithium in a $196 million deal with Piedmont and Lynch said that deal had given the company the ability to fast-track a move into downstream processing.

Sayona shares were up another 4.5 per cent this morning.

 

 

 

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