February 19, 2019 / 4:04 PM / in a year

BUZZ-Nemaska Lithium, Livent: Tumble after ending supply agreement

** Nemaska Lithium drops 4.7 pct, while Livent drops 3.5 pct after ending multi-year supply agreement

** Livent says Nemaska does not have a right to end agreement, which required Nemaska to start supplying lithium carbonate from April 1

** Nemaska says could not reach a mutually satisfactory outcome despite good faith talks; says could repay Livent a $10 mln payment plus a similar amount in termination fee

** Livent says plans to resume arbitration it had filed in July 2018 and which was on hold as talks continued

** Eight Capital views Nemaska ending the supply agreement as a positive for the Canadian company as its opens the door for another strategic partner

** LTHM extends YTD losses to ~10 pct and NMX extends its losses to ~55 pct (Reporting by Savio D’Souza)

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