Sayona Mining reported positive results from the definitive feasibility study of its 60% owned Moblan Lithium Project in Quebec, Canada, with 40% owned by Investissement Quebec.

The project shows a post-tax net present value of CAD$2.2 billion ($2.49 billion), a post-tax internal rate of return of 34.4%, and a 2.3-year payback period.

Operations are expected to generate a net cash flow of CAD$6 billion ($6.80 billion) from CAS$14.4 billion ($16.33 billion) LOM net revenues, based on ore reserves of 34.5Mt at a grade of 1.36% Li2O.

The 21-year mine life targets an annual production of 300ktpa spodumene concentrate.