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Nemaska Lithium Inc. (NMX.TO)

Toronto - Toronto Delayed Price. Currency in CAD
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0.16500.0000 (0.00%)
As of 04:00PM EST. Market open.
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  • J
    Jason
    For those who didn’t know until now, we have a facebook group for all nmx shareholders who got robbed. We spent probably 50k collectively to fight this illegal takeover without success, but now some of our members are trying things differently . Come and join
  • a
    anil
    Following closing of the Transaction, Nemaska Lithium expects Residual Nemaska Lithium to present a plan of compromise or arrangement to its creditors in respect of the Residual Cash and any of its residual assets to be received by Residual Nemaska Lithium. Unfortunately, based on the terms of the Bid and the consideration to be received by Residual Nemaska Lithium, holders of the Corporation’s common shares will not receive any payments for, or distributions on, their common shares in connection with the CCAA proceedings, nor will they hold any interest in New Nemaska Lithium following the completion of the plan of compromise or arrangement.
  • C
    Chris Mcdonald
    Of course, why would one Expect the Board and CEO, CFO, to care about investors? This awful company was supposed to be zeroed out on 14th of October so that we can all write off the loss. Guess what? The great province of Quebec decided to extend the stay: "On October 8, 2020, following the filing of an Application by the Debtors, the Superior Court of Quebec issued an Order extending the Stay Period until November 16, 2020. " The stock has been frozen since December 22, 2019. Maybe, just maybe, we may get lucky to write off the entire loss if the province doesn't delay again, but why not, keep it frozen for a year and set a record for incompetence and mismanagement at both the corporate and government levels.
  • E
    Eric-LRJ
    Nemaska has retained 8 qualified bidders out of 11 total bids:
    The Debtors and the Financial Advisors are working diligently with the Qualified Bidders through
    their respective due diligence in order to make sure that they will be able to submit a qualified bid
    before the June 30, 2020 deadline
  • k
    kevin
    Here's my thoughts on the update today. If I read everything correctly they have $335 M CAD in the bank roughly. They need $375 M more to finish. That means they need $40 M more on a $1 B project. Softbank and the other big investors won't be freaked out like many on the board here. It seems this is a 30% cost overrun which is disappointing but Steel and Labor are definetly up this year. They had set aside 10% in their plans for cost overruns. The additional money is not needed today since they plan to finish work over the next 8 months and have money on hand so they have some time to get it. Remember they also have contracts for at least 50% of the projected Li output and said they turned down other offers so as to not lock in now while demand is lower. Its tough to predict Li prices but at some point with the large increasing demand for EV there will be more demand than supply. I bought more stock today and still its a great investment especially at the lower stock price. Good luck everyone!
  • P
    Poncho
    Neo Lithium NEO Is the one that is 100% owned. They will produce more lithium in the near term and it will have the most potential for a buyout!
  • C
    Chris Mcdonald
    If you own common shares of NMKEF, you have nothing. From the company's website and press release: "Unfortunately, based on the terms of the Bid and the consideration to be received by Residual Nemaska Lithium, holders of the Corporation’s common shares will not receive any payments for, or distributions on, their common shares in connection with the CCAA proceedings, nor will they hold any interest in New Nemaska Lithium following the completion of the plan of compromise or arrangement."
  • C
    Charles
    Law Firm Siskinds LLP (www.siskinds.com) is assessing the situation for possible minority shareholder class action. I suggest that all of you go out and ask your law firms, lawyers to consider legal actions against frauds perpetrated by Quebec government investment fund, company management and its auditors.
    We have 80+ lawyers practicing in over 25 areas of law including corporate, environmental & labour. Speak to our lawyers in London, Toronto and Québec City.
    We have 80+ lawyers practicing in over 25 areas of law including corporate, environmental & labour. Speak to our lawyers in London, Toronto and Québec City.
    www.siskinds.com
  • O
    OldArmyGuy
    I’ll never make my money back on this one: bought 7000 shares at 1.83 a couple of years ago
  • E
    Eric-LRJ
    ''Implementation of Sale and Investor Solicitation Process
    The SISP is intended to generate interest in either a recapitalization of the Corporation, or in the business or its assets SISP procedures will commence on February 28, 2020 with the transmission of a “teaser” letter to potentially interested parties. The deadline for submission of non-binding letters of intent is April 17, 2020, with a target closing date of the transaction in mid-August 2020.''

    Still a long way to Tipperary!

    ''The SISP is intended to generate interest in either a recapitalization of the Corporation, or in the business or its assets''

    Did not Bourassa say not that long ago that asset sales were not in the picture?
    I guess the new CEO has a different perspective, when is he going to fire Bourassa?
  • A
    Amit
    Does anyone have any update?
  • E
    Eric-LRJ
    The province’s Superior Court Judge Louis J. Gouin gave Nemaska Lithium an additional month to figure out a way forward, under court-granted creditor protection
    While Gouin has stayed claims against the company by creditors and others, it’s clear that Nemaska — which less than two years ago received a $100-million investment from Japan’s Softbank, and $130 million from Investissement Quebec but now has been delisted from the TSX — is struggling for survival amid declining lithium prices.
    Guy Bourassa, chief executive of Nemaska, told the Financial Post he is hopeful that a new financing package could be arranged within six months.
    “We’re not working on a scenario of selling off assets,” he said. “We’re working on a scenario of financing our assets.”
  • J
    John
    Project is looking more likely. Softbank deal closed. Northvolt deal signed. Would love to see this over $1.50 by June.
  • E
    Eric-LRJ
    SQM profits plunge again on lower lithium prices, expansion on track
    “Average lithium prices were almost 50% lower than average prices seen during the same period last year,” CEO Ricardo Ramos said in the statement.
    “Our strong balance sheet and firm commitment to the lithium market allows us to continue moving forward with our capacity expansion plans in lithium carbonate and lithium hydroxide,” the company said.
    “To date, we expect to finalize both projects by the end of 2021.”
  • D
    David
    Well ts been a month almost, an update on the construction plan would sure be nice......
  • D
    Dustin
    have buy at .59 well see.
  • J
    John
    Not a bad customer to have... :)
  • E
    Eric-LRJ
    Benchmark expects the market surplus to persist through to 2023. In its April price assessment Benchmark recorded another 5.3% decline in its sales-weighted lithium index, bringing the year-on-year decline to more than 40%.

    South American export prices for lithium carbonate fell hardest to the mid-$6,000s – half of what brine producers fetched a year ago.
  • E
    Eric-LRJ
    Lithium prices to jump as pandemic hinders expansions
    Prices for lithium, one of the key ingredients for the batteries that power electric vehicles (EVs) and high tech devices, are expected to climb in two years.
  • A
    Aäron
    In my opinion, we have had the bottom. Because the new investors are not likely to sell soon. And since nemaska now has the capital to get in production, it seems that the stress for dilution of the stock will stop. I dont see the stock climbing as fast as last year , but with some patience this will double again.