09:53 AM EDT, 05/16/2019 (MT Newswires) -- Nemaska Lithium (NMX.TO) rose 6.5% Thursday to $0.33 apiece after giving an update on the overall Whabouchi project and financing alternatives.

The company said in a statement that it has completed 55% of detailed engineering in Shawinigan as of April 30, 2019.

Nemaska Lithium said that it has completed the foundations for the primary, secondary and tertiary crushers at Whabouchi, and structural steel installation is "well advanced." It added that concrete pouring and backfilling are nearing completion, electric distribution is completed, and the construction camp, its cafeteria and training facilities are fully functional.

Guy Bourassa, President and CEO of Nemaska Lithium, said: "We have made good overall progress during the past months on both the construction at the Whabouchi mine and the detailed engineering at the Shawinigan plant."

Bourassa added: "While we are carefully managing cash at our disposal, we are also reviewing financing opportunities and strategic alternatives with the help of our financial advisors. We are diligently proceeding one step at a time towards achieving our ultimate goals within the best possible timeframe in the best interest of all our stakeholders."

For its financing update, the company said that the dual-track financing action plan and review process of all available alternatives is underway, with the assistance of Clarksons Platou Securities and National Bank Financial.