Montreal is seeking to cancel the sale of La Corn mines to Sanona Quebec and its US partner Piedmont Lithium. The transaction was approved by the Quebec High Court on Tuesday.
Central America Nickel announced Friday morning that it will file a lawsuit in the Quebec Court of Appeals to overturn Judge Martin Gostongue’s ruling. The latter rejected the request to cancel the sale, replace the controller and restart the new tendering process.
In his judgment, Judge Costongue argued that the Comptroller had a very broad mandate and that the bidders were treated fairly and in the best interests of those involved in the transaction.
Central America Nickel firmly believes that the sales process overseen by Controller Raymond Sabot was compromised by various irregularities. The company, which is one of only two eligible finalists, claims that the process is fair and not equitable for all bidders.
Ziona Quebec denounces that it has not made a secondary conversion of lithium in Quebec for five years, meanwhile exporting its lithium concentrations to the United States.
The Central America Nickel Offer represented the best option for Quebec with excellent revenue for Quebec, with immediate replacement of lithium in the province and additional processing of rare earths, cobalt and nickel. In addition, we ensured that our project was highly competitive from a financial and technical point of view.Pierre Gautier, President and CEO of Nickel, Central America, said in a statement.