Project Renard

Key points

Status:
Ongoing

Other active projects

In the spring 2024, Winsome signed an exclusive Call Option signed to acquire the assets comprising the Renard Mine and associated infrastructure (Renard) or all of the issued capital in Stornoway (the 100% owner of Renard), subject to Quebec Court approval.

Winsome is considering acquiring the Renard mine because of the opportunity it presents to convert these infrastructures to process lithium ore from the Adina project.

Indeed, Winsome sees the proposed acquisition as an opportunity to minimize its impact in the development of Winsome’s 100%-owned Adina lithium project (Adina), and for the eventual conversion of Renard’s existing infrastructure into a lithium processing operation. Other potential opportunities and advantages will also be studied within the next months.

The Option entitles Winsome to acquire the assets or all of the issued capital in Stornoway before 30 September 2024 unless extended (Option Period).

Our team will use the Option period to assess the potential technical, economic, environmental, and social feasibility of repurposing Renard as well as identify the optimal transaction structure and negotiate definitive documents to give effect to the proposed acquisition (Proposed Acquisition).

We think it is a regionally strategic asset with the potential the potential to open-up access to the growing critical mineral and EV battery supply chain hub in the Province of Quebec. We look forward to continuing to work with all of Stornoway’s stakeholders in progressing the transaction to a successful outcome.” Carl Caumartin, General Manager-Canada.

Recycling these infrastructures is fully in line with our sustainable development approach, an opportunity to minimize our impact in the development of the Adina project, on the environment by reusing an existing site. It would be irresponsible not to evaluate this possibility. Our priority is to reach out to all our stakeholders and discuss with them their comments and vision of this opportunity.”  Geneviève Morinville, Vice President, Sustainable Development and Regulatory Affairs

For more information, consult the official press release

Your questions : 

1. Why are you interested in the infrastructure/assets of the Renard Mine?

This is an opportunity that could allow us to minimize our impact by reusing existing infrastructure. It could potentially allow the infrastructure of the Renard processing plant to be converted to process lithium ore from the Adina project.

2. What are the next steps?

Winsome will conduct a rigorous analysis over the coming months. We will assess the potential environmental, social, technical and economic impacts and benefits of this acquisition option.