“Extending the option provides us additional optionality to consider the various commercial and corporate opportunities available as we advance project studies on our significant lithium project in North America,” Winsome’s general manager Carl Caumartin said.
The acquisition of Renard comes as diamond markets are struggling and lithium prices remain low. This is notable given that Quebec is a leading region in Canada for lithium exploration and mining and is home to one of the country’s only two active lithium mines.
Early evaluations suggest the plant conversion might be more cost-effective than building a new facility, potentially reducing capital expenditures and accelerating project timelines. The extension also means that Stornoway Diamonds will continue to cover the Renard site’s care and maintenance costs until Winsome makes a final decision.
Stornoway temporarily suspended operations at Renard last October due to…
