PMET Signs LOI with Matagami for Spodumene Concentrate Logistics
News related to:PMET Resources Inc · 2 min read
MONTREAL, Oct. 4, 2026 /CourierPR/ -- PMET Resources Inc. has taken a significant step towards the development of its Shaakichiuwaanaan Project by signing a Letter of Intent (LOI) with the City of Matagami. The LOI is aimed at advancing the planned concentrate transportation infrastructure, which will be crucial for the successful logistics of spodumene concentrate from the mining site to the rail network.
According to the press release, the LOI establishes a framework for the infrastructure upgrades and long-term transshipment services required to support the planned concentrate logistics route to market. This development is seen as a key component in the overall project's logistics chain, connecting the concentrate trucked from the Shaakichiuwaanaan site to rail transportation outbound to the port at Matagami's transshipment yard.
PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property, located in the Eeyou Istchee James Bay region of Quebec, Canada. The property is accessible year-round by all-season road and is proximal to regional hydro-power infrastructure, which will support the project's energy needs.
In late 2025, the company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property, declaring a maiden Mineral Reserve of 84.3 million tonnes (Mt) at 1.26% lithium oxide (Li2O) (Probable). The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to approximately 800 kilotons per annum (ktpa) spodumene concentrate using a simple Dense Media Separation (DMS) process.
The Consolidated Mineral Resource for the Shaakichiuwaanaan Property totals 108.0 Mt at 1.40% Li2O and 166 parts per million (ppm) tantalum oxide (Ta2O5) (Indicated), and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred). Additionally, the project hosts the world's largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones, with 0.69 Mt at 4.40% caesium oxide (Cs2O) (Indicated) and 1.70 Mt at 2.40% Cs2O (Inferred).
The LOI with Matagami represents an important step in advancing the Shaakichiuwaanaan Project's supporting infrastructure and logistics. PMET Resources Inc. aims to finalize a definitive commercial agreement with Matagami prior to announcing a Final Investment Decision for the project. Infrastructure contributions, service pricing, and detailed operating arrangements remain subject to further negotiation and agreement between the parties.
The Feasibility Study for the Shaakichiuwaanaan Project, first reported by the company on October 20, 2025, is available on the company's website and on SEDAR+ and the ASX website. The production target from the Feasibility Study, reported in accordance with ASX Listing Rule 5.16, continues to apply and has not materially changed as of the date of this news release.
These estimates continue to apply and have not materially changed as of the date of this news release.