With summer now officially over and Q4 capping off its first week, here's a look at some lithium companies that have started the latest quarter on a high note.
Providing investors with an update to the goings-on at the Quebec lithium project was Canada Lithium (TSX: CLQ). This week, the company told investors that it is on track with the commissioning of its open-pit mine and processing plant in Quebec. After a scheduled maintenance shutdown in August, Canada Lithium was able to restart operations at the Quebec lithium project by mid-September and is well underway to meeting its goal and completing the commissioning of the plant and ramping up to full production by the end of Q1 2014. Currently, the company is still operating at a reduced rate, with the expectation that mining operations will be back in full swing by the end of October. According to the company's most recent press release, roughly 100,000 tonnes of ore remain in the stockpile at the crusher. InaSeptember, the company received a $5 million pre-payment from its off-take partner, China's Tewoo-ERDC. The funds were used for working capital as the company progresses with the project's commissioning. Nemaska Lithium (TSXV:NMX) also kicked off Q4 with good news. On October 1, the company released some results of its recent drilling activities at the Whabouchi lithium project located near Chinougamau, Quebec. Following 24 holes drilled on the property, Nemaska identified 14 diamond drill holes on the eastern portion of the deposit that stood out. Of those 14 holes, 12 "intersected spodumene bearing pegmatite dykes containing between 5% and 30% spodumene." Further drilling extended the strike length of several of the dykes - including the main dyke - by 200 meters to the east.