Sayona Mining Shares Soar 25% on Novonix Test Results [ASX:SYA]

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Lithium explorer Sayona Mining [ASX:SYA] reached a 52-week high today after positive results from Novonix Ltd [ASX:NVX] regarding the company’s Authier project spodumene.

Sayona Mining shares traded as high as 34 cents this morning, setting a new 52-week high:

Sayona lithium stock prices in 2022


Novonix confirms ‘high quality’ SYA spodumene

Sayona announced today that lithium battery developer Novonix has affirmed SYA’s Authier spodumene is a ‘high quality’ alternative to trading grade lithium hydroxide.

Spodumene is a pyroxene mineral of greyish-yellow colouring, which is a reliable source of lithium.

Reported results suggest SYA products are just as effective as commercial batteries made from lithium hydroxide.

Sayona reported:

Sayona product samples matched and performed equally as well as benchmark lithium hydroxide samples in commercial performance tests.  

The positive results show that the Authier product performs as well as commercially availabe batterygrade lithium hydroxide. The ICS Process is a clean and green solution, which combined with the benefits of Québec’s sustainable hydroelectric power provides substantial long‐term environmental and competitive advantages.

Sayona described its Authier spodumene as a ‘clean and green solution’ — it allegedly enables long‐term environmental and economical improvements when combined with Québec’s hydroelectric power system.


SYA Managing Director Brett Lynch commented:

This is further independent verification of the performance of Authier spodumene and its suitability for conversion into lithium hydroxide, an extremely sought-after product. 

Sayona has committed to downstream processing in Québec, including lithium carbonate or hydroxide. These results by an industry‐leading battery tester have further increased confidence in our strategy, which will deliver added value for all stakeholders and support North America’s decarbonisation drive.’

Sayona’s Moblan Lithium Project

Below you can see Sayona’s Brett Lynch (centre), with Exploration Director Carl Corriveau (left), and SOQUEM’s Laury Schmitt at the Moblan Lithium Project.

The project is expected to conclude its drilling program by mid-April.

Mr Lynch reported the drilling program is progressing as planned, and the company anticipates Québec production will secure further growth in Sayona’s lithium resources.

As global demand for lithium increases, the Québec Project is expected to benefit stakeholders to considerable degrees.

Sayona owns 60% of the project, with SOQUEM taking the other 40%.

lithium mine planning 2022

Source: Sayona

ASX lithium stocks set new highs as momentum continues

After a cagey start to 2022, ASX lithium stocks are soaring lately.

While Sayona set a new 52-week high today, fellow lithium high-flyer Lake Resources [ASX:LKE] reached an all-time high last week.

Both LKE and SYA are now up more than 600% in the last 12 months.

But they aren’t the only lithium stocks making new highs.

Lithium junior Arizona Lithium [ASX:AZLalso posted a 52-week high today, trading as high as 23 cents — and shares are up 400% in one year.

Fellow junior Global Lithium Resources [ASX:GL1] registered a new all-time high too, as the interest in lithium stocks seem to be hitting fever pitch.

In a neat demonstration of the retail interest in the ASX lithium sector, GL1 shares are up 850% in less than a year since listing in May 2021.

But such steep price rises invite questions.

How long can these lithium stocks outperform the market? How much growth is already priced in? Can lithium stocks continue to move higher in 2022 or will they revert to the mean?

And are there any lithium stocks the market is overlooking?

According to Money Morning’s latest research report on the sector, yes.

In fact, the research report profiles three of them.

To find out more, access the report here.


Kiryll Prakapenka,
For Money Morning

About Kiryll Prakapenka

Kiryll Prakapenka is a research analyst focusing on investigating the biggest trends in investments. Kiryll brings sound analytical skills to his work, courtesy of his Philosophy degree from the University of Melbourne. A student of legendary investors and their strategies, Kiryll likes to synthesise macroeconomic narratives with a keen understanding…

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